China’s central bank confirmed on Saturday that it will implement new schemes aimed at encouraging financial institutions to lend to small businesses under pressure due to the impact of Covid-19.

IFIC Bank is set to sell its more than 40 per cent stake in a Nepalese bank as it no longer sees its business in the Himalayan Kingdom viable.  

Banks clocked higher operating profit in 2021 mainly due to the Bangladesh Bank’s relaxed policy that allowed them to count income from unrealised instalments of loans.

Mercantile Bank launched 35 agent banking outlets across the country yesterday to provide basic banking services to the unbanked population.

The Hongkong and Shanghai Banking Corporation (HSBC) in Bangladesh has recently completed the country’s first insurance backed receivables finance transaction for MBM Garments.

Bangladesh Bank (BB) has recognised Brac Bank for its role in the implementation of the first phase of a Covid-19 stimulus package for cottage, micro, small and medium enterprises in financial year 2020-21.

The Bangladesh Bank yesterday eased its loan classification policy for all borrowers following demand from the country’s top trade bodies, including the FBCCI.

High level of default loans, failure to implement banking regulations, and limited autonomy for the Bangladesh Bank are the major challenges facing the banking sector today. 

Bank Asia entered into a partnership with Inpay A/S (Eurogiro) for cross-border remittance payment, according to a press release.

The Bangladesh Bank yesterday said current, savings and special notice deposit (SND) accounts would become inoperative if clients don’t carry out any transaction for six months in a row.

The Bangladesh Bank yesterday decided not to extend the tenure of the current relaxed policy on loan classification despite pleas from the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI).

Al Hossain Chisty, a client of a private commercial bank, tried to talk to the bank’s call centre executives to get some explanation about statement related to his credit card.

Sonali Bank Ltd was awarded for securing the top position among all the government banks in implementing the annual performance agreement in 2020-21.

The central bank yesterday relaxed rules for foreign nationals residing in Bangladesh to send remittances to their home countries.

International Finance Corporation signed an agreement with Bangladesh Bank recently to provide $900,000 as technical assistance grant to efficiently implement a credit guarantee scheme for cottage, micro, small and medium enterprises to better face the pandemic’s challenges.    

Standard Chartered has completed the first deal using risk-free rate (RFR) with its clients, Akij Ceramics Ltd and Unilever Bangladesh Ltd.

Social Islami Bank recently witnessed the appointment of a new additional managing director. 

The Export Import Bank of Bangladesh has recently inaugurated its 139th branch at Juri, Moulvibazar.

United Commercial Bank Ltd (UCB) recently promoted Arif Quadri to the position of managing director .

ONE Bank Ltd recently promoted Md Monzur Mofiz to the position of managing director (current charge).