Bangladesh Bank today asked banks to clear the import bills in time or they will lose licences for authorised dealer (AD) branches, which are dedicated to do foreign exchange businesses.

Anwarul Islam, director of the department of offsite supervision at Bangladesh Bank, was promoted to be the executive director of the central bank today.

Bangladesh Bank today asked banks to draw up citizen charter such that clients will be able to get financial services smoothly.

A Bangladesh delegation will discuss a $4.5 billion loan with International Monetary Fund officials in Washington next week.

Bangladesh is currently weathering a period of heightened external pressure and economic headwinds like it has done since the outbreak of the coronavirus pandemic and kept growing, said a top official of a multinational bank.  

Bangladesh Bank can better fix the currency turmoil by freeing both interest rate and exchange rate to adjust over time.

The central bank’s deviation from the policy commitment is the main reason why hundi-makers mushroomed at home and abroad.

The Bangladeshi taka today depreciated against the US dollar, hitting Tk 96 on the interbank platform after the Bangladesh Bank had decided last week to allow the market forces to set the exchange rate of the local currency.

Bangladesh's foreign exchange reserves have declined to USD 37.06 billion after the central bank had cleared import bills to the Asian Clearing Union, an arrangement to settle payments for intra-regional transactions among member countries including Bangladesh.

Bangladesh Bank today urged the Department of Cooperatives to take measures against illegal banking activities carried out by several cooperative societies.

Bangladesh Bank today said exporters can now retain value-added amount of export proceeds in US dollars for 30 days instead of 15 days.

Bangladesh Bank today asked banks to suspend their evening banking operation in order to reduce electricity consumption as part of the government’s austerity measures.

The central bank today scrapped the 360-day special repo facility thanks to the improvement in the coronavirus situation and a lack of demand for the borrowing tool.

Bangladesh Bank today asked banks to reduce use of electricity and energy as part of the austerity measures taken by the government to contain the volatility in the foreign exchange market.

Migrant workers and Bangladeshis living abroad sent more than $2 billion in each of the first two months of the current fiscal year, a promising sign for the economy.

Private sector credit growth in Bangladesh rose further in July despite a contractionary monetary policy adopted by the Bangladesh Bank for the current fiscal year to tame higher inflation. 

Out of my 26 years with three global banks, I spent more than half of it in treasury dealing room environment in Dhaka, Mumbai, Dubai, Singapore, Hong Kong, London, and New York.  

Transactions through internet banking in Bangladesh more than doubled in the last fiscal year as a huge number of people, especially the young generation, are using the platform to carry out financial activities. 

Bangladesh Bank today asked six banks to transfer their treasury heads to human resource departments due to their alleged involvement in destabilising the country’s foreign exchange market.

The central bank today set the annual interest rate ceiling on the non-resident foreign currency deposits in order to mobilise funds from Bangladeshis living abroad and individuals of Bangladeshi origin.