Mastercard and Brac Bank today announced the launch of the Mastercard Millennial Titanium Credit Card, catering exclusively to the lifestyle and aspiration of millennials and young working professionals in Bangladesh.

The Bangladesh Bank has not yet taken any punitive measure against Union Bank despite finding a fund mismatch at a vault of the lender’s Gulshan branch.

The Anti-Corruption Commission has filed a case against former chairman of South Bangla Agriculture and Commerce Bank SM Amzad Hossain and six others for allegedly misappropriating Tk 20.6 crore from the private lender.

The breakneck pace of innovation disrupting the financial sector has ushered in a level of uncertainty which the sector has not faced before. New entrants and a rapidly changing business model have provided customers with a multiplicity of options.

Thengamara Mohila Sabuj Sangha (TMSS) recently signed an agreement with bKash enabling its members to both receive microfinance loans and pay monthly instalments through the mobile financial service provider. 

The Bangladesh Bank yesterday set uniform rates on settling transactions through digital platforms of banks and other financial service providers as part of its effort to facilitate clients and merchants.

In a rare move, the government is not rushing into a $3-billion loan offer from the International Monetary Fund (IMF) as Bangladesh has received a huge amount of budget support from multilateral lenders to fight the impacts of the coronavirus pandemic.

Transactions through mobile financial services in Bangladesh grew more than 50 per cent year-on-year to Tk 62,230 crore in August, central bank data showed.

State banks in Bangladesh are maintaining an elevated level of loan concentration among a handful of clients, putting their own financial health and the interest of depositors at grave risk.

City Bank Limited has partnered with Mastercard to integrate Mastercard Payment Gateway Services (MPGS) that enables a range of value-added services for customers. 

The Bangladesh Bank yesterday ordered four state banks to speed up cash recovery from defaulters as their record in realising delinquent loans has remained dismal.

The Bangladesh Bank today ordered four state banks to speed up their cash recovery programme from defaulters as they showed a lacklustre performance to realise delinquent loans.

Standard Chartered Bank today launched Standard Chartered Saadiq Sadaqah Account for clients to donate profits generated by the account to a charity of their choice.

Nearly three months after the merger proposal given by Padma Bank, the Bangladesh Bank said financial health of state lenders now faces “several problems” due to the excessive default loans.

Midland Bank Limited has recently witnessed the reelection of its chairman and vice-chairman at the 115th meeting of its Board of Directors.

Bangladesh Bank yesterday relaxed rules regarding banks’ investment in Treasury bills and bonds in order to help them avoid generating lower-than-expected profits in the secondary bond market.

Bangladesh’s economic growth will rebound to 7.2 per cent in the current fiscal year, riding on domestic consumption, global recovery, steady flow of remittance and rising exports, said Standard Chartered yesterday.

Standard Chartered Bangladesh has announced the launch of expat banking services, through which expatriates residing in Bangladesh will enjoy access to a full range of banking services, seamlessly integrating their banking experience across Bangladesh and their home countries.

Moody’s Investors Service has changed the outlook to “stable” from “negative” and affirmed issuer rating at B1 for City Bank Limited. 

The Bangladesh Financial Intelligence Unit (BFIU) has frozen the bank accounts of Foster Payments due to its alleged involvement in money laundering.