The US dollar became more costlier yesterday as the local currency depreciated once again in the inter-bank platform. 

The borrowers of non-bank financial institutions will enjoy a flexible loan repayment facility up to December this year.

The Bangladesh Bank today asked non-bank financial institutions to form ‘complaint cell’ at their head offices and branches to resolve the complaints of clients.

A Dhaka court today again asked Criminal Investigation Department (CID) to submit probe report by August 17, 2022 in Bangladesh Bank cyber heist case.

The banks, MFS providers and payment service providers will have to find alternative ways to make their payment systems effective in the flood affected districts, including Sylhet, Sunamganj, Moulvibazar, Habiganj, Kishoreganj, Netrokona, Kurigram and Rangpur.

Bangladesh Bank today asked banks to seriously look into and resolve complaints of clients over their financial services so that none faces further hassles.

The Bangladesh Bank will conduct a feasibility study on the possibility of introducing a Central Bank Digital Currency (CDBC) in Bangladesh, said Finance Minister AHM Mustafa Kamal in his budget speech today. 

The bank accounts with balance over Tk 5 crore may have to pay more excise duty from the next fiscal year.

The funds will come from an existing Tk 3,000 crore refinance scheme aimed at providing low-cost loans to farmers with a view to supporting production amid the coronavirus pandemic.

In an effort to stabilise the forex market, Bangladesh Bank has decided to allow the exchange rates of the taka to float against the US dollar for the first time in a decade.

In the wake of a foreign currency crisis in the country three recent steps of the government that drew wide appreciation are the travel restrictions for government officials (Finance Division, May 12), lifting of source declaration requirement for over Tk 5 lakh remittance (Bangladesh Bank, May 23) and imposition of additional duty on 68 various importable items (National Board of Revenue, May 24). While we fashionably go against the government on every possible issue on social media, these three rather attracted profuse praise with the first one, cessation of foreign tours, causing hysteria.

E-commerce purchases through cards bounced back in March as the total transaction value crossed Tk 900 crore for the first time since July last year, when a number of scams were unearthed in the sector.

Bangladesh Bank has asked banks to convert major export earnings of businesses into taka immediately as it looks to increase the supply of US dollars in the economy.

Tyre importers in Bangladesh have been hit hard by the rise in the exchange rate and the doubling of the cash businesses require to pay in advance to open letters of credit to bring in the item.

The Bangladesh Bank yesterday directed non-bank financial institutions (NBFIs) to preserve all documents, either physically or digitally, related to loans, leases or investments until the repayment is complete.

Bangladesh Bank today increased its policy rate by 25 basis points in a major development that is likely to make credit costly and curb inflation.

The Bangladesh Bank today asked banks to suggest uniform exchange rates of the taka against the US dollar in order to bring back the stability in the country’s foreign exchange market.

Bangladesh Bank has formed a Tk 2,000 crore refinance scheme to ensure sustainable development of the shipping industry, increase export earnings and employment and gradually reduce import dependence.

Bangladesh Bank yesterday said that private banks would be able to waive the interest of borrowers whose funds have been transferred to the lenders’ income segment, relaxing its previous stance in order to facilitate influential defaulters.

Bangladesh Bank today instructed banks to take up to 75 per cent of payments in advance from businesses during opening of letters of credit for import of luxury and non-essential goods.