Banks have been asked not to impose over 1 per cent interest on the exporters after disbursing fund from their own pocket and before being reimbursed from Bangladesh Bank’s export development fund (EDF).

The Bangladesh Bank today relaxed the rescheduling policy for short-term farm loans as it assumed that many farmers would be in dire straits in the coming days in the wake of increasing global prices of agricultural equipment.

The Bangladesh Bank yesterday imposed an interest rate cap on deposits and loans at non-bank financial institutions aligning with the ceiling now prevailing at banks although rates are rising globally to tame runaway inflation.   

The Bangladesh Bank today imposed interest rate cap on non-bank financial institutions (NBFIs), asking them to mobilise deposit by offering a maximum of 7 per cent interest and give out loans at 11 per cent.

Around 54 per cent of the garment workers in Bangladesh were paid through mobile financial services in February and the rest through cash, a research finds.

The World Bank will give $500 million loan to Bangladesh for reforms in the revenue and financial sector and upliftment of the living standards of the poor.

The Bangladesh Bank today said that the New York County Supreme Court has not given any judgement in a case filed against the three prime accused in connection with the 2016 reserves heist.

Al-Arafah Islami Bank, in collaboration with Mastercard, yesterday launched the first contactless Islami debit and prepaid cards in Bangladesh.

Bangladesh Bank yesterday drew up a classification and provisioning policy for a group of financial items of banks excluding loans and advances, terming it “other assets”, with a view to ensuring discipline in the banking sector.

Bangladesh Bank today drew up a classification and provisioning policy for a group of financial items of banks excluding loans and advances, terming it “other assets”, with a view to ensuring discipline in the banking sector.

Al-Arafah Islami Bank in collaboration with Mastercard today launched the country’s first contactless Islami debit and prepaid cards.

Nine banks, including four state lenders, suffered net losses in 2021, largely as a consequence of financial scams that forced them to set aside higher provisioning.

The Bangladesh Bank today instructed banks to impose at least 25 per cent margin on the opening of letter of credit for non-essential consumer items in a bid to curb the escalated import payments.

Banks had initially focused on using agent banking platforms to mobilise deposits from rural areas, for which lending took a back seat.

The government has printed new notes of Tk 10 to ensure an adequate supply of the notes in the market amid huge demand, Bangladesh Bank said in a notification today.

Bangladesh Bank today warned banks not to show any unrealised interest gained from the rescheduled loans as their income.

Eastern Bank Ltd (EBL) signed an agreement with Bangladesh Satellite Company to connect its ATM network to Bangabandhu Satellite-1.

Brac Bank organised a programme in Munshiganj town recently for raising awareness on the benefits of remittance inflow through banking channels alongside honouring the top 10 remittance beneficiaries of Munshiganj.

Large foreign banks operating in Bangladesh took a hit in 2021 as their profits plunged due to the impacts of the coronavirus pandemic and the lower interest rate regime.

Western Union in collaboration with Bank Asia Ltd and Social Islami Bank Ltd (SIBL) launched outbound remittance services for the first time in Bangladesh at an event at Westin Dhaka recently.