The High Court questions the legality of a Bangladesh Bank circular allowing defaulters to reschedule their loan with a repayment period of up to ten years.

The central bank yesterday asked banks to form a special monitoring cell to keep an eye on defaulters with loans of more than Tk 100 crore.

Finance Minister AHM Mustafa Kamal yesterday said he delivered on his promises he made six months ago that the non-performing loans at the state banks would not go up any longer.

The head of the British parliament’s Work and Pensions Committee has written to the chair of Standard Chartered Plc’s remuneration committee questioning the bank’s executive pension pay levels after more than a third of shareholders voted against its directors’ remuneration policy.

Finance Minister AHM Mustafa Kamal will sit with the chairmen and chief executive officers of the state-owned commercial and specialised banks today to take stock of the overall situation of the financial sector.

Bank Asia’s deposits in agent banking have recently crossed the Tk 1,000 crore mark, further consolidating the bank’s position in the sector.

The central bank has once again instructed banks to lower their lending rate to single digits as per instruction of the government and as committed by the sponsors of the lenders.

The growing trend of default loans has put an adverse impact on banks’ profitability and their daily operations, said Bangladesh Bank Deputy Governor SM Moniruzzaman yesterday.

Bangladesh needs to sustain higher economic growth and diversify the economy in order to create jobs for a young population, said Kristalina Georgieva, chief executive officer of the World Bank since January 2017.

Mastercard has announced the completion of its acquisition of Transfast, a global payments company with significant cross-border network reach.

Some 15 banks and non-bank financial institutions (NBFI) that have Tk 850 crore stuck with People’s Leasing Financial Services (PLFS) are on edge over the government’s decision to liquidate the ailing NBFI as they stand to lose a large portion of the sums.

The Bangladesh Bank yesterday assured the depositors of People’s Leasing and Financial Services (PLFS) not to worry about their money as they would be getting it back within the shortest possible time.

Mastercard has announced the completion of the acquisition of Transfast, a global payments company with significant cross-border network reach.

Tarique Afzal has recently been appointed president and managing director of AB Bank.

GERMANY’S biggest lender Deutsche Bank said Sunday it would cut 18,000 jobs by 2022, as the former leading light of the country’s financial sector looks to escape years of turmoil.

HIRING and retaining high-quality people, using a robust risk management system and complying with regulatory requirements are some of the key areas that can help a bank attain a sound financial health, said a top banker.

A massive decline in import and an inflow of record remittance have helped narrow the current account deficit by 40 percent in the first 11 months of the just concluded fiscal year, much to the relief of the Bangladesh Bank.

Tarique Afzal has recently been appointed as the President and Managing Director of AB Bank.

The Supreme Court (SC) extends for two months its stay on a High Court order that halted Bangladesh Bank circular allowing defaulters to reschedule their loans with a repayment period of up to 10 years.

Banks in Bangladesh are contributing to the rise in inequality as they collect deposits from people from all walks of life but give loans to only a few, analysts said yesterday.