Bangladesh badly needs economic reforms at this moment, said Finance Adviser Salehuddin Ahmed yesterday.

Farm and rural loan disbursements by banks fell by more than one-fifth in the first four months of fiscal year (FY) 2024-25, owing to a dip in the flow of credit mainly from foreign and private banks.

Businesses are passing through a “hard and rocky” situation amid high inflationary pressure due to a rise in the cost of finance, labour and energy, according to senior officials of various firms, especially foreign corporations.

The Bangladesh Bank has hired global accountancy firms EY, Deloitte, and KPMG to conduct an “asset quality review” of banks alleged to have lost Tk 2 trillion ($16.4 billion) to influential businesspeople linked to the former Awami League government, according to the Financial Times (FT).

Samadhan Services Limited, a concern of Grameen Telecom, has at last gained ground in its effort to become a payment service provider (PSP) in Bangladesh.

A big chunk of foreign funds was provided as budgetary support from the World Bank and the Asian Development Bank (ADB) in December released $1.1 billion, leading to a rise in foreign aid disbursement and providing some relief to the government.

Subsidies for the power sector are likely to balloon 83 percent this fiscal year as the interim government is planning to clear all arrears owed to private power producers.

Since the Federal Funds Rate is currently around 4.50 percent, the forward selling rate of the USD is likely to be around Tk 124 to Tk 124.50 per USD, according to industry insiders.

The government yesterday asked the banks that financed the embattled Beximco Group to submit information regarding the collateral kept by the group against the loans..The directive was given at a meeting among the secretaries of some ministries and senior officials of nine banks..At

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FBCCI administrator urges Bangladesh Bank

Farm and rural loan disbursements by banks fell by more than one-fifth in the first four months of fiscal year (FY) 2024-25, owing to a dip in the flow of credit mainly from foreign and private banks..Banks lent Tk 9,391 crore in the July-October period of this fiscal year, according to da

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Bangladesh paid $1.98 billion in principal and interest in Jul-Dec of 2024, up from $1.57 billion in the same period the previous year

He made the comment at an AmCham dialogue

However, its EPS for July-December 2024 declined to Tk 9.47 from Tk 11.92 in the same period previous year

It made a profit of Tk 41.89 crore in the Oct-Dec period

"We are talking about reforms in areas like political reforms, economic reforms, and the electoral process," he said.

Governor Ahsan Mansur mentioned that the Bangladesh Financial Intelligence Unit has formed 11 teams to trace and reclaim assets suspected of being acquired through embezzlement. These teams will also assist in prosecuting those responsible

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