The net profit of seven overseas branches run by three Bangladeshi banks climbed more than 23 percent year-on-year to $5.30 million last year, central bank data showed.

Businesses have sought more time for the rationalisation of Bangladesh’s maiden tariff policy, reasoning that many industries still need more state protection to be ready to compete with their international peers. 

A number of policies and regulations need to be simplified for meeting the export diversification targets in national plans and export roadmaps, experts said. 

Agent banking, which helps bring banking services to unbanked people, continues to gain ground in Bangladesh as the number of accounts, deposit collection and loan disbursement are on the rise.

Fourteen non-bank financial institutions (NBFIs) out of a total of 35 were in the red zone last year as per the stress test report of the central bank. 

Bangladesh has formulated its maiden tariff policy to improve the competitiveness of local companies in the international market as they brace for an increased competition after the country becomes a developing nation in 2026. 

Private sector employers have to contribute 50 percent of their employees’ monthly instalments under the universal pension scheme, said a gazette from the finance ministry yesterday.

Just over half of banks have yet to start adopting Bangla QR in spite of instructions passed by Bangladesh Bank on boosting cashless transactions across the country by this year. 

As a growing economy that needs to adopt clean technology, Bangladesh requires coordinated efforts and proper policy support to achieve net zero by 2050, said experts yesterday. 

Standard Chartered recently won the award “Best Bank in Bangladesh” by London-based Euromoney magazine at the Euromoney Awards for Excellence 2023 for launching inventive and impactful community projects, adopting a concentrated focus on accelerating zero carbon emissions and creating new opportunities for countless stakeholders.

MTB Foundation recently signed an agreement with Footsteps Bangladesh, a Dhaka-based social enterprise, for a project styled “Building Community Water Point at Ayla Patakata, Barguna”.

Prime Bank Ltd and the Industrial and Infrastructure Development Finance Company Ltd (IIDFC) recently signed an agreement on digital cash management solutions.

The claim settlement ratio of non-life insurance companies in Bangladesh slipped in 2022 due a liquidity crisis, reduced investment and lower returns on investment, according to industry people.

Some web-based services of the central bank would remain inaccessible from 8pm on Monday to 8am on Wednesday as it would carry out emergency system maintenance activities, said the Bangladesh Bank in a notice yesterday.

Mahbubul Alam, the newly elected president of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), has expressed his commitment to bolster trade and business in the country in the days ahead.

Nine foreign banks operating in Bangladesh hardly invest in the stock market owing largely to irregularities, speculation-driven investments and an inadequate number of well-performing companies that have gone public.  

Thailand’s inflation rate is the lowest among the seven Asean countries which have already announced their rates, with inflation for the whole year expected to range between 1 per cent and 2 per cent, according to Poonpong Naiyanapakorn, director of the Commerce Ministry’s Trade Policy and Strategy Office.

Refiners have cut edible oil and sugar prices by 3 percent or Tk 5 a litre/kilogramme.

Pubali Bank Ltd organised the “2nd Branch Managers’ Conference-2023” for Sylhet region’s officials of the bank at Sylhet Station Club recently.

Banks in Bangladesh were bottom-ranked in 2022 among South Asian lenders when it comes to capital base, owing largely to rising non-performing loans.