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
Bangladesh Bank hikes key interest rate by 50 basis points
Bangladesh Bank today raised its key interest rate, also known as the policy rate, by 50 basis points to 5.50 per cent, a move that would make funds costlier for banks.
30 June 2022, 10:24 AM
Bangladesh Bank takes cautious stance in monetary policy
Bangladesh Bank today set a 14.1 per cent private sector credit growth for 2022-23, marginally down from the target fixed for the outgoing fiscal year.
30 June 2022, 10:12 AM
Stabilisation need of the hour
Central banks globally are struggling to contain inflation even after raising their key interest rates. And although Bangladesh is experiencing a similar situation, the monetary instrument is largely ineffective in the country because of the 9-per cent lending cap.
30 June 2022, 02:00 AM
US dollar more expensive against taka
The US dollar became more costlier yesterday as the local currency depreciated once again in the inter-bank platform.
29 June 2022, 04:00 AM
Forex market volatility deepens
Volatility in the country’s foreign exchange market has intensified once again as Bangladesh Bank has commenced tinkering with the exchange rate of the taka against the US dollar.
28 June 2022, 03:30 AM
Tk 199cr defaulted loan: BB allows ‘launderer’ to reschedule it
In a gross violation of its own rules, the central bank has allowed an alleged money launderer to reschedule defaulted loan of Tk 199 crore taken from Bangladesh Commerce Bank Ltd (BCBL) through forged documents.
28 June 2022, 02:00 AM
Uttara Finance MD removed
The Bangladesh Bank yesterday removed SM Shamsul Arefin from the post of managing director of Uttara Finance and Investments Ltd (UFIL) for his alleged involvement in financial irregularities.
24 June 2022, 03:30 AM
Uttara Finance’s MD removed for financial scam
The Bangladesh Bank today removed SM Shamsul Arefin from the post of managing director of Uttara Finance and Investments Ltd (UFIL) for his alleged involvement in financial irregularities.
23 June 2022, 14:51 PM
Private credit growth ticks up further
Private sector credit growth in Bangladesh accelerated to 12.94 per cent in May, the highest in more than three years, but rising inflation and deepening volatility in the exchange rate have paled the attainment.
23 June 2022, 02:30 AM
Businesses can avail flexible loan repayment facility up to Dec
Large industries, SMEs and the flood-hit agriculture sector will enjoy a flexible loan repayment facility up to December this year as Bangladesh Bank yesterday revived the partial loan moratorium amid a deepening economic crisis.
22 June 2022, 18:00 PM
Govt’s borrowing from banks spikes
Government borrowing from banking sources has gone up significantly this month as it is now on a spending spree to materialise different development and non-development programmes by the time this fiscal year ends.
22 June 2022, 03:30 AM
Fighting inflation: BB treads a tight rope
A key role of central banks is to conduct monetary policy to achieve price stability and help attain targeted economic growth.
21 June 2022, 02:30 AM
Midland Bank strengthening digital banking
Midland Bank has focused on further strengthening its digital banking means instead of expanding its network of branches aggressively so as to attract more tech-savvy clients, said Managing Director Md Ahsan-uz Zaman.
20 June 2022, 04:30 AM
IIDFC fined Tk 31 lakh
Bangladesh Bank has imposed a fine of Tk 31 lakh on the Industrial and Infrastructure Development Finance Company (IIDFC) for violating the central bank’s rules for non-bank financial institutions (NBFIs) over renting and decorating branches.
18 June 2022, 18:00 PM
Taka falls again
The currency of Bangladesh has depreciated further against the US dollar, hitting Tk 92.50 on the interbank platform yesterday.
14 June 2022, 03:00 AM
Subsidy allocation: 54pc rise proposed
The government has proposed an allocation of Tk 82,745 crore to run its subsidy programme for 2022-23, an increase of 53.7 percent from this fiscal year’s original outlay, creating a challenge to macroeconomic stability.
9 June 2022, 18:00 PM
Tk 5,000 crore fund to manage shocks of natural disasters
Finance Minister AHM Mustafa Kamal today proposed allocating Tk 5,000 crore as the ‘Fund for managing the shocks of natural disasters’ in the upcoming 2022-23 fiscal year.
9 June 2022, 12:02 PM
Social safety net allocation to rise 5.5%
Finance Minister AHM Mustafa Kamal today proposed increasing the allocation by 5.5 per cent year-on-year for social safety net programmes carried out by the government.
9 June 2022, 10:25 AM
Hefty subsidy to create challenge for budget management: Kamal
A hefty amount of subsidy allocated by the government to offset the price increases in the global market may pose a challenge in the budget management for the next fiscal year, said Finance Minister AHM Mustafa Kamal today.
9 June 2022, 10:23 AM
Bangladesh Bank to carry out study for rolling out digital currency
The Bangladesh Bank will conduct a feasibility study on the possibility of introducing a Central Bank Digital Currency (CDBC) in Bangladesh, said Finance Minister AHM Mustafa Kamal in his budget speech today.
9 June 2022, 10:16 AM