The latest rating showed that BRAC Bank and City Bank have been part of the list since the BB launched the rating in 2020.

Bangladesh Bank yesterday unveiled the latest iteration of its exit policy that offers borrowers the option to close off their loan account within three years by paying only 10 percent as down payment and no interest.

The need for correct and regularly updated data cannot be overstated

The central bank has shared data of the net international reserves (NIR) of Bangladesh for the first time.

The Bangladesh Bank has issued new directives on the repayments of industrial term and home construction loans in line with the new market-based method of calculating the interest of bank loans.

The services have received lukewarm responses from the targeted customers because they were launched hastily and lack user-friendly features and campaigns were not run to make them popular. Besides, there is no incentive and banks are unwilling, industry insiders said.

These credit bureaus will work to determine credit standards by analysing borrower data before sharing it with banks, which will help financial institutions make informed decisions, said the central bank guidelines on the licencing, operating and regulating of credit bureaus.

Bangladesh Bank yesterday asked banks and non-bank financial institutions (NBFIs) to inform Credit Information Bureau (CIB) of wilful defaulters the moment they are identified.

Though the government allocates Tk 100 crore in the national budget every year for the development of women entrepreneurship, not a single penny of this money gets used as the entrepreneurs lack awareness on how to ensure optimum utilisation of the fund.

In its effort to arrest the fall in forex reserves and bring unrealised export proceeds into the country, the Bangladesh Bank today allowed bankers to offer the existing US dollar exchange rate to exporters.

Economic reforms should not end here, though

As tech startups in Bangladesh are deprived of bank loans, the financial sector should team up with venture capital firms to finance such companies, experts said yesterday.

Nearly half of the total remittances in December last year came to Bangladesh through Islamic banking channels, according to the Bangladesh Bank.

The central bank directive came during a meeting between BB Governor Abdur Rouf Talukder and the managing directors of five leading private commercial banks on Sunday.

Report on NRBC Bank shows how chaotic the banking sector has been

Capital machinery imports are recovering slowly as concerns over political uncertainty ease and banks show more willingness to facilitate investments amidst increased liquidity in terms of US dollars and stability in the exchange rate. During the July-January period of this fiscal year (FY), LC openings for capital machinery grew three percent year-on-year to $1,557 million, according to Bangladesh Bank data.

The profitability of the banking sector in Bangladesh is the lowest in South Asia due to the prevalence of higher non-performing loans, lower efficiency, and an elevated level of costs of funds.

The Bangladesh Bank has issued its first-ever guideline for the appointment of independent directors at non-bank financial institutions (NBFIs) in order to protect the interest of depositors and general shareholders.

The failure to tame inflation not only imposes a steep tax on the poor and the middle class, it also erodes economic competitiveness.

Bangladesh has decided to introduce currency swaps between the central bank and commercial banks considering the local foreign exchange market dynamics