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
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
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
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
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
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
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
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
16 June 2023, 02:00 AM
‘Rules on compulsory diploma discriminatory’
It will be very tough for bankers to pass the exam smoothly if the existing curriculum is retained.
12 February 2023, 03:30 AM
BB injects $330m into market since IMF loan
The Bangladesh Bank has injected $330 million into the country’s foreign exchange market since February 1 when the International Monetary Fund disbursed $476.27 million to Bangladesh as the first installment of a $4.7 billion loan.
10 February 2023, 02:00 AM
BB to offer new tool for cash support to Islamic banks
Bangladesh Bank will introduce another tool to provide liquidity support to cash-strapped Shariah-based banks in order to safeguard their ailing financial health.
5 February 2023, 18:00 PM
IMF releases $476.27 million as first loan instalment for Bangladesh
The International Monetary Fund (IMF) has disbursed $476.27 million to Bangladesh as the first instalments of $4.7 billion loan it approved early this week.
2 February 2023, 13:01 PM
Relaxed rules failed to speed up default loan recovery
The recovery of default loans is still weak in Bangladesh despite offering relaxed repayment policies for three consecutive years to 2022 as delinquent borrowers are not paying back funds on time, hitting banks’ income and cash flow.
1 February 2023, 02:00 AM
No visible step from BB to ease importers’ woes
The Bangladesh Bank is yet to take any visible measure in line with a commerce ministry directive aimed at asking banks to earmark a portion of their foreign currency holdings to open letters of credit to import essentials ahead of Ramadan.
19 January 2023, 02:00 AM
Pilot kicks off for digital payment with QR code
The Bangladesh Bank will commence a campaign tomorrow to popularise an interoperable QR code across the capital city in a move to bring millions of small businesses such as street vendors and lower-income groups under the digital transaction system.
17 January 2023, 16:13 PM
Feeble monetary policy against challenges
Bangladesh Bank yesterday unveiled a wishy-washy monetary policy for the next six months that will prove to be ineffective in tackling the headwinds passing through the economy.
16 January 2023, 01:00 AM
Monetary policy won’t work if interest rate cap stays
By retaining the interest rate cap on lending and fixed exchange rate, the upcoming monetary policy for the second half of this fiscal year will not play any role in containing inflation, economists said.
15 January 2023, 02:20 AM
Lanka gets 6 more months to repay BB’s $200m
Bangladesh Bank yesterday granted Sri Lanka’s request to be given six more months to repay a $200 million loan due to the prolonging of its economic crisis.
13 January 2023, 03:00 AM
Nagad Finance inches closer to running MFS operation
The Bangladesh Bank yesterday decided in principle to allow Nagad Finance PLC, a proposed non-bank financial institution (NBFI), to run mobile financial services.
13 January 2023, 02:30 AM
Sri Lanka given 6 more months to repay Bangladesh’s $200m loan
Bangladesh Bank today granted Sri Lanka six more months to repay the $200 million loan after the Island nation requested to extend the repayment period due to its prolonged economic crisis.
12 January 2023, 14:18 PM
Desperate, banks ignore own rates for collecting remittance
In a desperate attempt at collecting the greenback to meet immediate requirements, a good number of banks are ignoring directives of two lenders’ organisations to not offer over Tk 107 for each US dollar coming in as remittance.
12 January 2023, 02:30 AM
Interbank lending rate goes past 9% cap for liquidity crunch
Cash-strapped banks are borrowing from cash-rich lenders paying more than 9 per cent in interest rate, which is above a cap set by the central bank, as an unprecedented liquidity crunch has hit the banking sector of Bangladesh.
11 January 2023, 02:00 AM
Govt keeps borrowing heavily from BB
The government continues to borrow from Bangladesh Bank on a large scale as commercial banks are now unable to finance the state due to liquidity crunch.
6 January 2023, 01:30 AM
Forex market continues to stay under pressure
Come January there won’t be any volatility in the foreign exchange market -- was the overarching message from the government in the past couple of months. January has arrived, and the situation is dicey as before.
5 January 2023, 01:45 AM
Four more Islamic banks take BB emergency loans
Four more shariah-based banks have been found to have taken emergency funds, which are usually taken during extraordinary circumstances, in an attempt at dressing up their balance sheet for last year.
3 January 2023, 02:00 AM
Islami Bank takes emergency Tk 8,000cr from BB
Islami Bank has started to avail a central bank facility that is only summoned during extraordinary circumstances, as the Shariah-based lender looked to dress up its balance sheet ahead of the year’s end.
2 January 2023, 01:30 AM
BB to dissolve Uttara Finance board for scams
Bangladesh Bank yesterday decided to dissolve the board of directors of the Uttara Finance and Investments over major financial irregularities involving Tk 5,100 crore it had unearthed two years ago.
28 December 2022, 02:00 AM
Only two options left for macroeconomic stability
Bangladesh does not have too many policy options other than reducing consumption of goods and services and making the exchange rate flexible in order to ensure macroeconomic stability, said a central bank report.
22 December 2022, 02:00 AM