Dhaka stocks advanced for the fourth straight trading session on Thursday riding on the Bangladesh Bank’s announcement to allot funds to the stock market for implementing the refinancing scheme for the affected investors. DSEX, the benchmark general index of the Dhaka Stock
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BB juggling with loan rescheduling continues
Relaxes regulations again Bangladesh Bank on Wednesday relaxed the regulations for loan provisioning and rescheduling for the fifth time ahead of the general elections amid pressure from scheduled banks and businesspeople. According to two revised circulars issued by the BB,
BB to set up Tk 900cr fund for stock market
Bangladesh Bank on Wednesday said that it would set up a refinance fund of Tk 900 crore to compensate small investors hit hard by the capital market crash should the government approves it. The BB will raise the fund from its profit that the central bank sends to the government every year, BB deputy governor ... Read more
BB likely to allow NBFIs short-term deposit collection
Bangladesh Bank may allow non-bank financial institutions to collect deposits for three-month tenure in a bid to solve their current liquidity crisis, a senior BB official has told New Age. The NBFIs on Sunday demanded that the BB take measures to solve their liquidity crisis by allowing collection of deposit of three-month tenure from clients
Loan-deposit ratio of 22 banks drops in April
The advance-deposit ratio in 22 banks, out of the total 47, decreased further in April as demand for credit in the private sector dropped due to an unfriendly business situation amid political unrest, said officials of the Bangladesh Bank. According to the latest BB data, the overall ADR in
BB’s dollar purchase nears $5 billion
The Bangladesh Bank has continued to set record in purchasing US dollar as it bought greenbacks worth $4.93 billion from the commercial banks between July 1 and May 22 of this financial year. Before the FY 2012-13, the BB purchased the highest amount of greenbacks worth $2.16 billion in the FY 2009-10,
SCBs go for short-term lending as large loan release stalled
The four state-owned commercial banks have started lending heavily on the call money market as their loan disbursement to the private sector has slowed down significantly in the last few months, said officials of the Bangladesh Bank. According to the latest BB data, the SCBs — Sonali,
BB launches financial literacy campaign
Bangladesh Bank on Sunday launched a financial literacy campaign in a bid to educate the people about the country’s financial sector. BB governor Atiur Rahman inaugurated the campaign at the central bank headquarters in the capital.
Worried BB asks banks to curb defaulted loans
Mulls low-cost bank accounts for RMG workers The Bangladesh Bank on Thursday expressed concern over the increasing trend in classified loan in the banking sector and asked the scheduled banks to take steps to check the trend. At a meeting between high officials of the central bank and managing directors and chief executive officers of ... Read more
BB extends incentive offer deadline for textile mills
Bangladesh Bank on Tuesday extended the time limit by one month and fifteen days for the textile mills, which were affected by purchasing high-priced cotton, to submit applications seeking cash incentive. The central bank issued a circular to authorised dealer
BB asks NBFIs to submit reports on compliance by June 30
The Bangladesh Bank on Sunday asked non-bank financial institutions to send compliance reports on the NBFIs’ financing in the housing and real estate sector within June 30 to its Department of Financial Institutions and Markets. To this end, the BB issued a circular to managing
SCBs lag behind in financing green projects
The state-owned commercial banks and specialised development banks lagged behind other banks in financing green projects in last year, Bangladesh Bank Green Banking Report for 2012 said. The SCBs disbursed only 2.39 per cent and the SDBs only 3.02 per cent of the total loan amounting to Tk 27,092 crore distributed by banks to the
Banks in 4 metropolises to remain open Saturday
All the branches of the scheduled banks in Khulna, Rajshahi, Barisal and Sylhet metropolitan areas will remain open on Saturday, said a Bangladesh Bank press release. The branches in these metropolises will remain open so that people can deposit the security money for contesting in the elections of the four city corporations
8 new banks must lend govt just after start of operation
Eight new commercial banks will have to take part in Bangladesh Bank auction to buy government securities just after starting their operation as the central bank earlier attached a condition that every new bank would be a primary dealer, said BB officials. The banks, which are among nine banks that got
Forex reserve crosses $15b mark on BB dollar buying spree
The country’s foreign exchange reserve on Tuesday crossed the $15-billion mark for the first time due mainly to the Bangladesh Bank’s dollar buying spree, slump in imports in the first nine months of this financial year and increased inflow of remittance, said official of the central bank. A BB official said that the foreign exchange
Fin min asks BB to refinance Tk 1,266cr
The finance ministry has asked the Bangladesh Bank to provide the merchant banks and brokerage houses with Tk 1,266 crore to reschedule the loans of the investors affected in the 2010 stock market crash. The decision came after a Bangladesh Securities and Exchange Commission proposal had requested the government to approve the refinance scheme.
Janata Bank yet to take action against officials
Janata Bank is dillydallying on taking punitive action against its officials who, according to two Bangladesh Bank inspections, were involved in a financial scam in the bank’s four branches in Dubai, said officials of the central bank and Janata Bank. A BB official told New Age on Tuesday that the central bank
BB committee warns govt of risks
A government committee has suggested that the government should consider the risks before issuing the country’s first ever sovereign bond to raise funds for infrastructure projects from the international money market, officials said. The committee led by Bangladesh Bank deputy governor Shitangshu Kumar Sur Chowdhury in its interim report has identified
Imports nosedive in July-March amid poor business climate
The country’s import bill payment registered a negative growth in the first nine months of the current financial year on year-on-year basis like the last few months as the import of capital machinery and industrial raw materials declined sharply amid a negative investment situation, said Bangladesh Bank officials. According to the BB data released on Monday, ... Read more
Remittance inflow increases by 15.89pc in 10 months
The inflow of remittance increased by 15.89 per cent to $12.30 billion in the first 10 months of the current financial year compared with that of the same period in the previous financial year when the expatriate Bangladeshis had remitted $10.61 billion, showed the Bangladesh Bank data released on Sunday. The remittance in April also ... Read more