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
Loan write-off declines
Loans written off by banks in Bangladesh declined in the first half of 2022 despite the upward trend of default loans.
7 October 2022, 02:10 AM
Three factors holding back economy
The interest rate cap on loans, the frequent changes to the exchange rate regime and a relaxed attitude to enforcing austerity measures are the major challenges facing Bangladesh in restoring stability in the economy.
4 October 2022, 02:20 AM
September brings no cheer for economy
The economy of Bangladesh has continued to suffer from foreign exchange-related stress as both exports and remittances declined in September whereas import payments were almost unchanged.
3 October 2022, 03:00 AM
Remittance lowest in seven months
Despite a surge in the outflow of migrant workers, remittances to Bangladesh declined 11 percent year-on-year to $1.54 billion in September, the lowest in seven months.
3 October 2022, 02:10 AM
School banking gaining traction
School banking is increasingly gaining popularity among students, exemplified by total deposits in such accounts surpassing Tk 2,300 crore in July despite ongoing economic hurdles such as rising inflation.
2 October 2022, 02:40 AM
BB hikes key interest rate by 25 basis points
The Bangladesh Bank yesterday raised its benchmark interest rate by 25 basis points to 5.75 per cent as it stepped up its fight against inflation, which is running at a multi-year high.
30 September 2022, 02:10 AM
Economic growth momentum at risk for global volatility: BB
The economy faces multidimensional challenges as the volatile global scenario threatens to create an adverse situation for the growth momentum of Bangladesh, the central bank warned yesterday.
29 September 2022, 02:10 AM
Private credit growth surges, nears Bangladesh Bank target
Bangladesh’s private sector credit growth surged to 14.07 per cent in August, almost touching the central bank’s target for the entire fiscal year, an ominous sign for the economy since it may stoke inflationary pressures.
28 September 2022, 02:10 AM
9 banks hold over 60% of excess liquidity
Sixty-two per cent of the excess fund in the banking sector in Bangladesh is concentrated in nine banks, highlighting the liquidity pressure facing other lenders.
27 September 2022, 07:05 AM
Banks prefer govt bonds to private sector lending
Banks with surplus funds in Bangladesh are increasingly preferring government securities to lending to the private sector as the former gives higher yields amid the continued interest rate cap.
27 September 2022, 02:20 AM
Transactions thru cards for int’l payment keep rising
Foreign currency transactions through cards maintained an upward trend in July, surging 274 per cent year-on-year at a time when the country is trying to stop the depletion of its forex reserves.
26 September 2022, 02:30 AM
Stabilising forex market: BB actions contradict aim
Bangladesh Bank recently took a set of initiatives to bring about an effective floating exchange rate, meaning that which will rise or fall based on supply and demand, to bring back stability in the foreign exchange market.
25 September 2022, 02:40 AM
From bottomless basket to a role model
Bangladesh’s economy has gone from a basket case to being a model case study for economic development across the globe.
24 September 2022, 18:00 PM
Forex market: Six banks apologise for making excessive profits
The central bank yesterday ordered six banks to spend 50 per cent of the profits they had earned from their foreign exchange businesses unethically between May and June for corporate social responsibility (CSR) programmes.
23 September 2022, 02:40 AM
Bangladesh Bank platform eases local trade in foreign currency
A new digital platform rolled out by the Bangladesh Bank has opened a new horizon for local businesses to do trade with foreign currencies on a real-time basis.
23 September 2022, 02:20 AM
Six banks asked to spend forex business profits for CSR
The six banks are Standard Chartered Bangladesh, Brac Bank, Dutch-Bangla Bank, The City Bank, Southeast Bank and Prime Bank.
22 September 2022, 14:36 PM
Trade with India in rupee not feasible
Businesses will not be able to use the Indian rupee for trading with India as the Bangladesh Bank has not enlisted the currency for the settlement of bills for exports and imports.
22 September 2022, 02:10 AM
Uttara Finance urges ACC to bar former MD’s travel abroad
Uttara Finance and Investment has requested Anti-Corruption Commission (ACC) to prevent its former managing director, SM Shamsul Arefin, from leaving Bangladesh over his alleged involvement in scams.
21 September 2022, 02:40 AM
New headache: Private firms’ foreign loans jump to $26b
The amount of foreign loans availed by the private sector in Bangladesh has been swelling fast since 2020, creating a major headache for the country’s economy at a time when its foreign exchange reserves are plummeting.
19 September 2022, 02:10 AM
Bar on ex-MD of FAS Finance from leaving country
The immigration service of Bangladesh Police has imposed an embargo on Pritish Kumar Sarker, a former managing director of the FAS Finance and Investment, from leaving Bangladesh over his alleged involvement in financial scams.
16 September 2022, 03:05 AM