In an effort to keep the foreign exchange reserves stable, the Bangladesh Bank yesterday asked banks to take up to 100 per cent of import payments in advances from businesses while opening letters of credit (LCs) for luxury and non-essential items. 

The Bangladesh Bank today asked banks to take up to 100 per cent of import payments in advances from businesses while opening letters of credit (LCs) for luxury and non-essential items, in an effort to keep the foreign exchange reserves stable.

IPDC Finance Limited has recently been recognised in the “Sustainability Rating” by Bangladesh Bank for 2021.

Islami Bank Bangladesh has been listed as one of top 10 banks in sustainability ratings for 2020 and 2021 of the Bangladesh Bank. 

Keeping import payments manageable while maintaining stability in the foreign exchange markets will be a critical challenge for the economy, apart from keeping inflation at a tolerable level, said Bangladesh Bank yesterday.

A key objective of issuing a monetary policy statement on the eve of the new fiscal year is to provide forward guidance to the public about the likely future course of monetary policy. When credible, individuals and businesses use this information in making decisions about spending and investments.  

The government should reconsider its decision to make it mandatory for small and medium businesses to submit proof of income tax return in case of loans of Tk 5 lakh or more, the SME Foundation said today.

Central banks globally are struggling to contain inflation even after raising their key interest rates. And although Bangladesh is experiencing a similar situation, the monetary instrument is largely ineffective in the country because of the 9-per cent lending cap. 

Dhaka Bank has recently re-elected the chairman of its board of directors. 

The Bangladesh Bank will declare tomorrow its monetary policy statement (MPS) for fiscal 2022-23.

The chairmen of non-bank financial institutions along with the heads of executive, audit and risk management committees who hold directorships of associated subsidiaries or foundations will be able to continue to serve in the latter positions until December this year.

The borrowers of non-bank financial institutions will enjoy a flexible loan repayment facility up to December this year.

Prime Bank signed a memorandum of understanding with healthcare service provider Response Plus Holding PJSC recently enabling discounts for the bank’s “monarch” clients at Burjeel Hospital and Tajmeel centres in United Arab Emirates. 

The Bangladesh Bank today asked non-bank financial institutions to form ‘complaint cell’ at their head offices and branches to resolve the complaints of clients.

He came up with the remark while delivering speech at the “First MAM Kazemi Memorial Lecture on Monetary Policy” held in Bangladesh Institute of Bank Management.

City Bank recently signed an agreement with Evercare Hospital Dhaka and Evercare Hospital Chittagong enabling Citygem priority banking customers to avail complimentary health screening along with a companion once a year. 

Bengal Commercial Bank has signed an agreement with Jamuna Bank for a “VISA International Associate Membership”.

Finance Minister AHM Mustafa Kamal today told the parliament that as of March this year, the amount of defaulted loans in the country was Tk 126,369 crore.

Mutual Trust Bank (MTB) Foundation recently signed an agreement with Manabik Shahajya Sangstha (MSS) to provide eye care facilities to the underprivileged segment of the country.

The Bangladesh Bank yesterday said the interested candidates for the post of managing directors of non-bank financial institutions (NBFIs) have to obtain at least 20 years of working experience at banks or NBFIs.