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
FDI flow soars: 37pc despite economic jitters
Net foreign direct investment to Bangladesh rose 37 per cent year-on-year to $3.43 billion in the last fiscal year, a positive development for the economy amidst the ongoing foreign exchange volatility.
28 October 2022, 02:00 AM
Non-banks urge BB to relax rules of interest rate cap
Non-bank financial institutions have requested the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) to convince Bangladesh Bank for relaxing some rules related to interest rate cap and loan repayment given their weak financial health.
25 October 2022, 03:40 AM
Liquidity stress major concern for banks
The ongoing liquidity stress has become a major concern for Bangladesh’s banking sector as people hardly park funds with lenders due to higher consumer prices, which have turned the return on deposits negative, said a top banker.
24 October 2022, 02:40 AM
Rescheduled loans too turning bad
The Bangladesh Bank’s policy that allows defaulters longer repayment tenures and easy terms and access to fresh funds has appeared to have failed to make major inroad in bringing down bad debts as rescheduled loans are even turning sour.
20 October 2022, 02:10 AM
9 sectors hold 70pc bad loans
Around 70 per cent of default loans in the banking sector is concentrated in nine sectors of the economy as many borrowers are finding it difficult to pay instalments for the dragging economic slowdown while willful defaulters are also a major factor.
19 October 2022, 02:10 AM
Rising external debt poses risks to forex reserves
Rising external debt may pose some risks to Bangladesh’s foreign exchange reserves in the future as higher debt servicing will be required on accumulated loans, said the Bangladesh Bank yesterday.
18 October 2022, 02:10 AM
Taka third weakest currency in South Asia
The taka has been rendered one of the worst-performing currencies in South Asia in the last one year because of the plummeting foreign exchange reserves of Bangladesh for higher import payments.
17 October 2022, 02:10 AM
Forex reserves under further strain as BB sells dollar
The injection of the US dollar into the market by Bangladesh Bank has surpassed $4 billion so far in the current fiscal year, creating further pressure on the country’s foreign exchange reserves that are now depleting fast.
14 October 2022, 02:20 AM
Surging inflation: Savers in a tight spot
Savers are now facing losses on their deposits with banks due to surging inflation, with many solely dependent on interest earnings finding themselves in a tight corner.
13 October 2022, 02:00 AM
Sikder Insurance representative denied nod to be NBL director
Bangladesh Bank has denied giving permission to a representative of Sikder Insurance Company to serve as a director of National Bank Ltd (NBL).
11 October 2022, 02:40 AM
Women’s employment in banks rises slightly
The rate of employment of women in Bangladesh’s banking sector has slightly increased to 16.3 per cent in June this year from 15.2 per cent four years earlier.
11 October 2022, 02:20 AM
Pubali Bank on a tear
At the time of its denationalisation in 1984, Pubali Bank’s defaulted loans were more than 50 per cent owing to a lack of corporate governance.
9 October 2022, 03:00 AM
Loan write-off declines
Loans written off by banks in Bangladesh declined in the first half of 2022 despite the upward trend of default loans.
7 October 2022, 02:10 AM
Three factors holding back economy
The interest rate cap on loans, the frequent changes to the exchange rate regime and a relaxed attitude to enforcing austerity measures are the major challenges facing Bangladesh in restoring stability in the economy.
4 October 2022, 02:20 AM
September brings no cheer for economy
The economy of Bangladesh has continued to suffer from foreign exchange-related stress as both exports and remittances declined in September whereas import payments were almost unchanged.
3 October 2022, 03:00 AM
Remittance lowest in seven months
Despite a surge in the outflow of migrant workers, remittances to Bangladesh declined 11 percent year-on-year to $1.54 billion in September, the lowest in seven months.
3 October 2022, 02:10 AM
School banking gaining traction
School banking is increasingly gaining popularity among students, exemplified by total deposits in such accounts surpassing Tk 2,300 crore in July despite ongoing economic hurdles such as rising inflation.
2 October 2022, 02:40 AM
BB hikes key interest rate by 25 basis points
The Bangladesh Bank yesterday raised its benchmark interest rate by 25 basis points to 5.75 per cent as it stepped up its fight against inflation, which is running at a multi-year high.
30 September 2022, 02:10 AM
Economic growth momentum at risk for global volatility: BB
The economy faces multidimensional challenges as the volatile global scenario threatens to create an adverse situation for the growth momentum of Bangladesh, the central bank warned yesterday.
29 September 2022, 02:10 AM
Private credit growth surges, nears Bangladesh Bank target
Bangladesh’s private sector credit growth surged to 14.07 per cent in August, almost touching the central bank’s target for the entire fiscal year, an ominous sign for the economy since it may stoke inflationary pressures.
28 September 2022, 02:10 AM