BB begins forex reporting as per IMF manual
Bangladesh Bank yesterday began publishing foreign currency reserves as per the International Monetary Fund’s BPM6 manual, in a move that will ensure that the country’s dollar stockpile is reported accurately.
13 July 2023, 18:00 PM
A new era dawns in trade with India
Bangladesh, India to begin bilateral trade in rupee from July 11
9 July 2023, 01:00 AM
Higher NPL burden for banking sector
The banking sector is burdened by a high non-performing loan (NPL) and will need to continue measures to beef up supervision and accelerate loan recovery, according to the Bangladesh Bank.
6 July 2023, 18:00 PM
Forex reserve rises past $31b
The country’s foreign exchange reserves rose past $31 billion yesterday after three multilateral lenders provided $925 million to Bangladesh.
26 June 2023, 18:00 PM
Extension of bank directors’ tenure: A huge blow to banking sector
Allowing directors to stay on for 12 years will deal a huge blow to the financial health of banks, which are already facing several crises, including a lack of corporate governance in recent years, say experts.
25 June 2023, 01:00 AM
Tight monetary policy, but is it enough?
On the surface, the monetary policy appears to be tuned to the need of the hour: bring down inflation and conserve reserves. But it comes caving down on careful reading.
19 June 2023, 01:00 AM
Can new monetary policy crush inflation?
The Bangladesh Bank may today raise its key interest rates to tame inflationary pressure but the attempt might go in vain since the monetary authority may not withdraw the interest rate cap on loans in a true sense.
17 June 2023, 18:00 PM
11 banks facing a capital shortfall of Tk 33,575cr
Eleven banks in Bangladesh faced a collective capital shortfall of Tk 33,575 crore in March, up 9.3 per cent from a quarter ago, in a reflection of their worsening financial health caused by persisting irregularities and lack of governance, central bank data showed.
16 June 2023, 02:00 AM
Desperate, banks ignore own rates for collecting remittance
In a desperate attempt at collecting the greenback to meet immediate requirements, a good number of banks are ignoring directives of two lenders’ organisations to not offer over Tk 107 for each US dollar coming in as remittance.
12 January 2023, 02:30 AM
Interbank lending rate goes past 9% cap for liquidity crunch
Cash-strapped banks are borrowing from cash-rich lenders paying more than 9 per cent in interest rate, which is above a cap set by the central bank, as an unprecedented liquidity crunch has hit the banking sector of Bangladesh.
11 January 2023, 02:00 AM
Govt keeps borrowing heavily from BB
The government continues to borrow from Bangladesh Bank on a large scale as commercial banks are now unable to finance the state due to liquidity crunch.
6 January 2023, 01:30 AM
Forex market continues to stay under pressure
Come January there won’t be any volatility in the foreign exchange market -- was the overarching message from the government in the past couple of months. January has arrived, and the situation is dicey as before.
5 January 2023, 01:45 AM
Four more Islamic banks take BB emergency loans
Four more shariah-based banks have been found to have taken emergency funds, which are usually taken during extraordinary circumstances, in an attempt at dressing up their balance sheet for last year.
3 January 2023, 02:00 AM
Islami Bank takes emergency Tk 8,000cr from BB
Islami Bank has started to avail a central bank facility that is only summoned during extraordinary circumstances, as the Shariah-based lender looked to dress up its balance sheet ahead of the year’s end.
2 January 2023, 01:30 AM
BB to dissolve Uttara Finance board for scams
Bangladesh Bank yesterday decided to dissolve the board of directors of the Uttara Finance and Investments over major financial irregularities involving Tk 5,100 crore it had unearthed two years ago.
28 December 2022, 02:00 AM
Only two options left for macroeconomic stability
Bangladesh does not have too many policy options other than reducing consumption of goods and services and making the exchange rate flexible in order to ensure macroeconomic stability, said a central bank report.
22 December 2022, 02:00 AM
Bangladesh Bank looked away as tycoons borrowed at will from 2 banks
On edge -- is what best describes the sensation surrounding the banking sector. But the Bangladesh Bank higher-ups were warned as early as October 2021 that such a situation might transpire. Yet, no definitive action was taken then.
18 December 2022, 01:00 AM
Five Islami banks put on tight leash
Bangladesh Bank has instructed five shariah-based banks to send a daily log of sanctioned credit of Tk 10 crore and above as it looks to restore calm and order at the lenders that have recently faced withdrawal pressure.
16 December 2022, 01:00 AM
11 banks suffer capital shortfall
Eleven banks in Bangladesh collectively faced a capital shortfall of Tk 32,606 crore in September, which highlighted their fragile health caused by years of irregularities.
13 December 2022, 02:00 AM
Current account deficit widens further
Bangladesh’s current account deficit widened further in October as imports continued to surge compared to the combined receipts from exports and remittances.
7 December 2022, 02:00 AM
With observer’s departure, Islami Bank’s health worsened
Despite being among the best-run and the most profitable bank in Bangladesh in the past decade, Islami Bank had an observer in its board the entire time.
30 November 2022, 18:00 PM
Private credit growth drops further
Private sector credit growth in Bangladesh dropped in October as banks slowed loan disbursement amid a liquidity crunch.
30 November 2022, 03:30 AM
TK 7,246CR loans to 9 firms: BB probing ‘breach of rules’ at Islami Bank
Bangladesh Bank has begun an investigation into Islami Bank Bangladesh Ltd for disbursing Tk 7,246 crore in loans to nine companies this year grossly violating banking rules.
29 November 2022, 01:20 AM
Forex volatility: BB injects $6b into market so far this fiscal year
The amount of US dollar injected into the market so far by Bangladesh Bank has surpassed $6 billion in the current fiscal year, creating further pressure on the country’s foreign exchange reserves that are now depleting fast.
24 November 2022, 02:30 AM
HC bars cheque bounce case against defaulters
No bank or non-bank financial institution can lodge any cheque dishonour case to recover defaulted loans from now onwards, as per a High Court verdict yesterday.
23 November 2022, 18:00 PM
Pressure on economy: Next three months are critical
For the Bangladesh economy, the next three months are expected to be delicate as the measures the government has taken so far to steady the ship amid the global economic tempest start to play out.
18 November 2022, 02:00 AM
Depositors’ money completely protected
The Association of Bankers, Bangladesh (ABB), a platform of managing directors of banks in Bangladesh, yesterday said depositors’ money in banks were completely protected as lenders were now enjoying a hefty amount of excess liquidity.
17 November 2022, 03:00 AM
Soured loans soar to new highs
Banks’ defaulted loans hit Tk 134,396 crore at the end of the third quarter of this year -- yet another high as a lack of governance continues to wring the sector.
14 November 2022, 02:00 AM