Forex holdings in banks fall in August
Commercial banks witnessed a drop in foreign currencies last month from that in the preceding month mainly due to a sharp fall year-on-year in the inflow of remittance and a relatively small growth in export earnings.
25 September 2023, 01:00 AM
BB plans raft of measures to fight economic crisis
The Bangladesh Bank is going to take a raft of policy measures to tackle inflationary pressure, volatility in the foreign exchange market and growing non-performing loans (NPLs) and give a much-needed boost to the forex reserve.
24 September 2023, 01:00 AM
Two more banks get to trade in rupee
Standard Chartered Bangladesh (SCB) and Islami Bank Bangladesh PLC have received approval from Bangladesh Bank to conduct bilateral trade with India using the rupee.
20 September 2023, 18:00 PM
Dollar Manipulation: BB asks 10 banks to explain
The Bangladesh Bank has asked 10 banks’ managing directors why their treasury heads should not be penalised for their involvement in dollar rate manipulation this year.
19 September 2023, 18:00 PM
Mighty dollar squeezes int’l purchases thru credit cards
The foreign exchange crisis in Bangladesh has dealt a blow to credit card users as the sharp appreciation of the US dollar against the taka has narrowed their scope for foreign purchases through cards.
19 September 2023, 01:00 AM
Cash-strapped Islami Bank lends to AnonTex
Distressed Islami Bank has approved a Tk 700 crore loan to a concern of AnonTex Group, one of the five large borrowers of Janata Bank that has been enjoying undue facilities despite making negligible repayment in 13 years.
16 September 2023, 18:00 PM
Sustainable finance for greener future
Due to its geographical susceptibility, Bangladesh faces significant vulnerability to climate change. Consequently, the importance of sustainable finance, encompassing a suite of financial regulations, standards, and products aimed at environmental objectives, has grown significantly in recent years.
16 September 2023, 18:00 PM
Unruly dollar aggravates market stress
A uniform exchange rate has remained a far cry in Bangladesh despite banks moving to embrace a single rate of the US dollar amid a deepening shortage of the American greenback.
15 September 2023, 00:00 AM
Is monetary policy helping contain inflation?
The Federal Reserve of the US and the European Central Bank kept hiking policy rates in their fight against record inflation throughout last year and this year whereas the central bank of Bangladesh chose not to use the full force of the monetary policy.
13 September 2023, 00:00 AM
Janata’s great leniency to an errant client
Troubled state-run lender Janata Bank continues to be overly lenient towards AnonTex Group, one of its five large borrowers, despite negligible loan recovery in 13 years from the garment manufacturer.
12 September 2023, 18:00 PM
Private sector credit growth drops to single digit
The private sector credit growth in Bangladesh nosedived to single digit in July as both banks and borrowers face multiple challenges amid lingering economic uncertainty at home and abroad and the growing political crisis centring next year’s national elections.
8 September 2023, 00:00 AM
Jewellery industry still depends on informal sources
The jewellery industry has apparently remained largely dependent on unauthorised channels for sourcing gold although there is no direct government bar on importing the precious metal.
7 September 2023, 00:00 AM
Private sector’s foreign debt falls further
Short-term private sector foreign debt has continued to fall since January of this year, with new disbursements being outweighed by repayments each month this year except May.
4 September 2023, 18:00 PM
Remittance dips 21.5pc in August
Remittance saw its steepest decline since the depths of the pandemic in August as expatriate Bangladeshis eschew the official channels to send money home thanks to the wide difference in the official and kerb market exchange rates.
3 September 2023, 18:00 PM
Major currencies getting stronger against taka
Almost all major foreign currencies like the European Union’s euro, British pound sterling, Chinese renminbi, Japanese yen and Indian rupee are following in the footsteps of the US dollar in becoming stronger against the local currency.
3 September 2023, 00:00 AM
Dollar kerb market heats up again
The exchange rate gap in the official and unofficial channels in Bangladesh has started to widen after a few months of lull as the US dollar is getting costlier in the informal market, a development that may adversely impact the remittance flow.
29 August 2023, 00:00 AM
Should existing banks get digital bank licence?
Bangladesh Bank received 52 applications for the digital bank licence, with the majority of the forms coming in from the existing 62 banks -- when their current licence allows them to offer the same service already.
20 August 2023, 18:00 PM
Bar on Ron Haque to attend National Bank’s meetings
The bank did not take prior approval for re-electing Ron as a director
19 August 2023, 15:34 PM
BB asks 5 Shariah banks to resolve liquidity crisis
Bangladesh Bank has directed five Shariah-based banks to resolve their current liquidity crisis while three of them were asked to bring down their advance-deposit ratio (ADR) within the regulatory limit as soon as possible.
17 August 2023, 18:00 PM
Budget Deficit Financing: Govt cuts BB borrowing to tame inflation
The government has started the fiscal year with the resolve to borrow less from the central bank to fund its budget deficit as it looks to rein in the runaway inflation to a tolerable level ahead of the polls.
16 August 2023, 18:00 PM