The Bangladesh Bank yesterday sought explanations from managing directors of six private banks citing their alleged involvement in taking advantage of the volatility in the foreign exchange market to make a super profit.

Bangladesh began discussions on developing a mechanism for exchange of information on funds deposited by the Bangladeshi citizens in the Swiss banks to ensure that there is no confusion over the matter.

Is the central bank enabling loan defaulters with its policies?

Bangladesh Financial Intelligence Unit (BFIU) repeatedly sought information from countries including Switzerland on money laundered by Bangladeshis, Bangladesh Bank has said.

The Bangladesh Bank today eased rules on the encashment of the value-added portion of repatriated export proceeds in order to bring flexibility to trade transactions.

Private sector credit growth in Bangladesh accelerated to a four-year high of 13.66 per cent last fiscal year from what was in the preceding year. 

Banks’ financing to the agriculture sector soared 13 per cent year-on-year to Tk 28,391 crore in the fiscal year 2021-22, exceeding their targets set by Bangladesh Bank.

Authorities must take stern action to stop scams and frauds

The Bangladesh Bank has allowed, for the first time, the domestic banks to borrow from their offshore banking operations, to settle the import payments of capital machinery, industrial raw materials and imports made by the government.

Bangladesh Bank has asked banks to encash 50 per cent of the balance held in exporters’ retention quota (ERQ) accounts immediately and revised downwards the limit.

In an effort to keep the foreign exchange reserves stable, the Bangladesh Bank yesterday asked banks to take up to 100 per cent of import payments in advances from businesses while opening letters of credit (LCs) for luxury and non-essential items. 

Bangladesh Bank has relaxed loan rescheduling rules for rawhide traders to ensure availability of sufficient funds during Eid-ul-Azha, which is celebrated through animal sacrifice.

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.

Bangladesh Bank has released commemorative notes of Tk 100 on the occasion of the long-cherished Padma Bridge opening tomorrow (June 25, 2022).

Bangladesh Bank today instructed banks to take special measures to provide priority banking services to valiant freedom fighters, old, widows and differently-abled customers.

The Bangladesh Bank today said the interested candidates for the post of managing directors of non-bank financial institutions (NBFIs) have to obtain at least 20 years of working experience at banks or NBFIs.

A fire that broke out at Bangladesh Bank Bhaban in Motijheel this evening was doused.

The Bangladesh Bank today asked banks to provide banking services to the flood-hit people through branches adjacent to the areas that are still unaffected.

Bangladesh Bank today asked banks to refrain from procuring goods and services from firms in which directors and high officials of the lenders have ownership, be it direct or indirect.

Bangladesh’s trade deficit shot up 53 per cent year-on-year to $27.5 billion in the July-April period of the current fiscal year as the surge in imports continued against lower export receipts, exceeding last year’s total shortfall.