Bangladesh Bank will take punitive action against scheduled banks and non-bank financial institutions if any of them failed to set up a dedicated desk for woman entrepreneurs in SME sector separately in each of their branches within May 16, said officials of the central bank. The BB will issue a letter tomorrow to this end ... Read more
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BB firms up plans to issue first sovereign bond
Bangladesh is firming up plans to issue its first sovereign bond denominated in dollars, but looming elections may prevent it from achieving the goal this year, reports Reuters. In an exclusive interview with IFR, Bangladesh Bank governor Atiur Rahman said: ‘A lot of technical work is going on and we will be launching this bond
26 banks fail to comply with BB order on interest spread
As many as 26 banks failed to comply with the Bangladesh Bank’s directive to bring down their interest spread rate below five percentage points by March, said central bank officials on Thursday. The BB in a meeting with the managing directors and chief executive officers of all the banks on January 27 had asked them ... Read more
RAKUB’s capital shortfall soars to Tk 547cr
Capital shortfall in Rajshahi Krishi Unnayan Bank increased by 138.01 per cent to Tk 547 crore on December 31, 2012 from Tk 229.82 crore on June 30, 2012 due to its increased trend in classified loan, said officials of the Bangladesh Bank. The central bank on Monday warned RAKUB for
BB lowers provision against SME loan
The Bangladesh Bank on Monday lowered the general provision against standard loan and lease disbursed by non-bank financial institutions to small and medium enterprises. The BB issued a circular to managing directors of the NBFIs saying that from now on the general provision against loan and lease for the SMEs down to 0.25 per cent
$25m foreign loan approved against 3 pvt projects
The Board of Investment scrutiny committee for approval of private sector foreign borrowing on Monday cleared $25 million in foreign loans against three private sector projects. The approval came from the 75th meeting of the BoI scrutiny committee for approval of foreign loan/supplier’s credit held at the Bangladesh Bank, said
HC directs BB to freeze accounts of owners of Rana plaza RMG units
The High Court (HC) on Sunday directed the Bangladesh Bank (BB) authorities to freeze the bank accounts of the Savar building owner and proprietors of five garment factories housed in Rana Plaza so that they cannot withdraw money from the respective accounts without paying workers salaries. It also directed the Bangladesh Garment Manufactures
BB goes tough on banks’ housing sector financing
The Bangladesh Bank on Sunday asked scheduled banks to send compliance reports on the banks’ financing in the housing and real estate sector within June 30, 2013 to its Banking Regulation and Policy Department. The BB issued a circular to managing directors
Atiur asks banks to stop lending to non-compliant RMG units
Bangladesh Bank governor Atiur Rahman on Sunday warned banks’ bosses of stern legal action against them if they provide loans to non-compliant garment factories. ‘Stop lending to non-compliant garment factories where conditions are not suitable enough to ensure safety of the workers and employees, or face punishment,’
ADR in banks decreases further in March
The advance-deposit ratio in banks decreased further in March as the credit demand in the private sector dropped due to an unfriendly situation for business amid political unrest, said officials of the Bangladesh Bank. According to the latest BB data, the overall
PM opens central bank’s digital activities today
Prime minister Sheikh Hasina will inaugurate the digitisation programme of the Bangladesh Bank today at a function at the Bangabandhu International Conference Centre in the city. As part of the vision to build a poverty-free, digital Bangladesh through automation and financial inclusion in the banking sector, the central bank took up
Banks asked to be cautious in office, branch place selection
The Bangladesh Bank on Thursday asked the scheduled banks to verify whether the buildings they are going to select for their offices and branches got the building code approval from the authority concerned. The BB issued a circular to the managing directors and
Govt moves to turn HBFC into bank on political consideration
BB terms the move unwise The government has taken an initiative to turn the state-owned House Building Finance Corporation into a specialised bank on ‘political consideration,’ officials said on Wednesday. But the move has received cold response from the Bangladesh Bank that is against turning the HBFC into a housing bank because of excessive presence
BB warns Agrani for failure to recover loan from top defaulters
Bangladesh Bank on Wednesday warned Agrani Bank for its failure to recover the defaulted loan from the top 20 defaulters in last year, said officials of the central bank. The BB had set a target for the bank to recover the defaulted loan amounting to Tk 95 crore by 2012 but it (Agrani Bank) could ... Read more
Fruit growers to get credit from next FY: BB
Bangladesh Bank has planned to incorporate more farm products in the farm and rural credit policy to support growers for cultivation of local fruits such as malta, hog plum and safeda. ‘Growers of these fruits will be given credit support from the fiscal year 2013-14 because such credit facilities would encourage farmers to cultivate local ... Read more
Janata Bank asked to move for defaulted loan recovery
The Bangladesh Bank on Monday expressed its dissatisfaction with the increasing trend in defaulted loans in state-owned Janata Bank and asked it to intensify measures for recovering the non-performing loans. Janata Bank was also been advised to keep the required
BB’s dollar purchase soars to $4b in 10 months
Bangladesh Bank purchased a record amount of $3.99 billion from the commercial banks between July 1 and April 21 of financial year 2012-13 with a view to stop the devaluation of the greenback against the local currency Taka, officials of the central bank said. ‘But the central bank initiative has virtually failed as the US ... Read more
BB set to monitor call money market online
The Bangladesh Bank is going to introduce a software to bring all types of transactions on the call money market of the scheduled banks under a web-based monitoring system in a bid to check manipulation in the market, said officials of the central bank. A BB official told New Age on Thursday that the central ... Read more
Don’t sanction loans to illegal housing projects
BB asks banks Bangladesh Bank on Wednesday asked the scheduled banks not to sanction loans to private ventures for developing lands, constructing buildings and purchasing flats if they do not have the approval of the authorities concerned. To this end, the BB issued a circular to managing directors and chief executive officers of all the ... Read more
Foreign nationals’ income repatriation raised to 75pc
Bangladesh Bank has decided to allow foreign nationals who are making a living in the country to send home more money. The foreign nationals can now send home 75 per cent of their net income from their current savings, which was previously 50 per cent, said a central bank