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
Bangladesh Bank looked away as tycoons borrowed at will from 2 banks
On edge -- is what best describes the sensation surrounding the banking sector. But the Bangladesh Bank higher-ups were warned as early as October 2021 that such a situation might transpire. Yet, no definitive action was taken then.
18 December 2022, 01:00 AM
Five Islami banks put on tight leash
Bangladesh Bank has instructed five shariah-based banks to send a daily log of sanctioned credit of Tk 10 crore and above as it looks to restore calm and order at the lenders that have recently faced withdrawal pressure.
16 December 2022, 01:00 AM
11 banks suffer capital shortfall
Eleven banks in Bangladesh collectively faced a capital shortfall of Tk 32,606 crore in September, which highlighted their fragile health caused by years of irregularities.
13 December 2022, 02:00 AM
Current account deficit widens further
Bangladesh’s current account deficit widened further in October as imports continued to surge compared to the combined receipts from exports and remittances.
7 December 2022, 02:00 AM
With observer’s departure, Islami Bank’s health worsened
Despite being among the best-run and the most profitable bank in Bangladesh in the past decade, Islami Bank had an observer in its board the entire time.
30 November 2022, 18:00 PM
Private credit growth drops further
Private sector credit growth in Bangladesh dropped in October as banks slowed loan disbursement amid a liquidity crunch.
30 November 2022, 03:30 AM
TK 7,246CR loans to 9 firms: BB probing ‘breach of rules’ at Islami Bank
Bangladesh Bank has begun an investigation into Islami Bank Bangladesh Ltd for disbursing Tk 7,246 crore in loans to nine companies this year grossly violating banking rules.
29 November 2022, 01:20 AM
Forex volatility: BB injects $6b into market so far this fiscal year
The amount of US dollar injected into the market so far by Bangladesh Bank has surpassed $6 billion in the current fiscal year, creating further pressure on the country’s foreign exchange reserves that are now depleting fast.
24 November 2022, 02:30 AM
HC bars cheque bounce case against defaulters
No bank or non-bank financial institution can lodge any cheque dishonour case to recover defaulted loans from now onwards, as per a High Court verdict yesterday.
23 November 2022, 18:00 PM
Pressure on economy: Next three months are critical
For the Bangladesh economy, the next three months are expected to be delicate as the measures the government has taken so far to steady the ship amid the global economic tempest start to play out.
18 November 2022, 02:00 AM
Depositors’ money completely protected
The Association of Bankers, Bangladesh (ABB), a platform of managing directors of banks in Bangladesh, yesterday said depositors’ money in banks were completely protected as lenders were now enjoying a hefty amount of excess liquidity.
17 November 2022, 03:00 AM
Soured loans soar to new highs
Banks’ defaulted loans hit Tk 134,396 crore at the end of the third quarter of this year -- yet another high as a lack of governance continues to wring the sector.
14 November 2022, 02:00 AM
Govt borrowing from Bangladesh Bank stokes inflation fears
In a time of elevated inflation, the government has started to borrow heavily from the Bangladesh Bank to meet the budget deficit, in a move that is set to push up the consumer price level further.
11 November 2022, 02:00 AM
Economy paying the price of cheap funds
The current lending rate, which equals the inflation rate, has brought about major challenges for the economy as a negative interest rate has prompted many large clients to borrow hugely despite subdued demand, giving them the leeway to divert funds to the unproductive sector.
9 November 2022, 02:10 AM
Savers on the receiving end again
The Bangladesh Bank has decided to withdraw the interest rate floor on retail term deposits which had been set by banks equivalent to the average inflation rate of the immediate past three months, said bankers.
6 November 2022, 02:20 AM
BB eases cap on lending interest after 31 months
The Bangladesh Bank has decided to raise the interest rate on consumer loans to 12 per cent from 9 per cent after economists have long called for the withdrawal of the cap on all loans to contain inflation.
6 November 2022, 02:10 AM
State lenders asked to improve health as IMF raises concerns
The Bangladesh Bank yesterday asked four state-owned commercial banks to improve their financial health by containing defaulted loans and broadening capital base after the International Monetary Fund (IMF) expressed concerns about their weak conditions.
4 November 2022, 02:20 AM
Current account balance: Sinks further in red
Bangladesh’s current account balance sank further in the red in September, heaving the pressure on the exchange rate that is trading at record lows against the US dollar.
3 November 2022, 02:00 AM
Remittance keeps falling as hundi gains upper hand
Despite a surge in the outflow of migrant workers, remittances to Bangladesh declined 7.4 per cent year-on-year to $1.52 billion in October, an unpromising development that may deepen the volatility in the economy.
2 November 2022, 02:10 AM
Credit growth slows
Private sector credit growth fell by more than two percentage points in September as banks slowed loan disbursement amid liquidity crunch, snapping a seven-month upward trend.
28 October 2022, 02:10 AM