The Federation of Bangladesh Chambers of Commerce and Industry has demanded that the Bangladesh Bank should discuss the ongoing review of calculation method of the bank interest rate spread with the stakeholders for making a proper and realistic decision about it. FBCCI president Kazi Akram Uddin Ahmed last week sent
bangladesh bank
Only one from a family to get fund
Bangladesh Bank on Wednesday said that only one entrepreneur from a family would be eligible for getting financial assistance from Equity and Entrepreneurship Fund of the central bank for implementing agro-based and food processing projects. In a circular issued on the day, the central bank
Modhumati Bank gets final nod from BB
Bangladesh Bank on Wednesday gave final approval to the proposed Modhumati Bank for getting its licence. ‘The BB gave the approval at its board meeting after hearing the business plans presented by the proposed bank,’ a BB official who attended
Imports remain weak in negative business climate
The country’s import bill payment registered a negative growth in the first eight months of the current financial year on year-on-year basis as the import of capital machinery, industrial raw materials and intermediate goods declined sharply amid a low-key investment situation, said Bangladesh Bank officials. According to the BB data released on Tuesday, the overall
Airtel to take $200m in loan from foreign sources
Airtel Bangladesh Ltd and 14 other private companies on Tuesday were allowed to take $297 million in loans from foreign sources. The private sector foreign loan/supplier’s credit committee headed by Bangladesh Bank governor Atiur Rahman approved their loan proposals
Modhumati Bank may get final nod from BB tomorrow
Bangladesh Bank in its tomorrow’s board meeting may give final approval to proposed Modhumati Bank, said officials of the central bank. A BB official told New Age on Monday that the central bank is almost done with the scrutiny of Modhumati Bank’s proposal and the issue would be placed
BB asks NBFIs to form risk management forum
Bangladesh Bank on Sunday asked non-bank financial institutions to form separate Risk Management Forum and Risk Analyst Unit by 15 April, 2013 in a bid to manage their external and internal risks in a prudent and organised way. The BB issued a circular to managing directors and chief executive
BB enlists Meghna as scheduled bank
Bangladesh Bank on Sunday announced that it had enlisted Megna Bank, which recently got licence from the BB, as a scheduled bank. To this end, the central bank issued a circular to the managing directors and chief executive officers of all the banks asking them to inform this to all of their
New BB wing to promote green banking, CSR
Bangladesh Bank has opened a new wing called Green Banking and CSR Department to promote green financing and corporate social responsibility related activities of the scheduled banks. The new wing aims at chalking out measures to formulate a policy for green banking and to develop and implement green strategic plan, the BB circular said.
BB keeps buying greenbacks
The Bangladesh Bank purchased dollars worth $407 million in March from the money market to tackle depreciation of the greenback against the local currency. According to the latest BB data, the central bank has purchased dollars worth $36.01 billion from the commercial banks between July 1 and April 3 of the financial year 2012-13.
11 banks hold 74.25pc classified loan
The country’s 11 banks held 74.25 per cent default loans of the banking sector as of December 31, 2012 as a significant amount of loans has been classified by the banks due to recent banking scams, said Bangladesh Bank officials. The 11 banks including four state-owned banks and three specialised banks are Sonali Bank, Janata Bank, ... Read more
Trade deficit drops by 34pc in H1 due to import fall
The country’s trade deficit in the first half of the current financial year decreased by 34.13 per cent compared with that of the same period of FY 2011-12 due mainly to negative import growth, said Bangladesh Bank officials. According to BB data to be released today, the import in July-December registered a negative growth of 6.69 per ... Read more
Atiur blames banks for lack of anti-fraud measures
Bangladesh Bank has got a Material Loss Review conducted covering the recent frauds at different banks and it has revealed that the affected banks had not taken the required measures to tackle embezzlements, said BB governor Atiur Rahman on Wednesday. The MLS revealed that the affected banks did not maintain their essential routines like
Mobile Financial Service
BB asks banks to follow bank-led model Bangladesh Bank has asked scheduled banks to follow the bank-led model of mobile financial service to avoid confusion over who is the principal provider of the service, said BB officials. A central bank official told New Age on Thursday that the BB on Monday issued letters to the ... Read more
Five new banks get final BB nod
Bangladesh Bank on Tuesday gave final approval to five proposed banks for getting licences. The five proposed banks which got the approval are NRB Commercial Bank, NRB Bank, Union Bank, South Bangla Agricultural Bank and Meghna Bank. ‘The BB gave the approval at its board meeting after hearing the business plans presented by
Remittance inflow soars by 19pc in 7 months
Remittance inflow increased by 19.57 per cent to $8.71 billion in the first seven months of the current financial year compared with that of the corresponding period of FY 2011-12 when expatriate Bangladeshis had remitted $7.28 billion, showed Bangladesh Bank data released on Monday. The remittance in January also increased by 7.64 per cent compared ... Read more
MPS implementation to be major challenge: DCCI
Dhaka Chamber of Commerce and Industry on Saturday observed that implementation and monitoring of the targets set in the monetary policy for the next six months of the fiscal year would be the major challenge for the Bangladesh Bank. Reducing inflation to 7.5 per cent, ensuring credit flow to actual productive private sector, controlling consumers’ credit, increasing
27 banks fail to maintain interest rate spread in Dec
Twenty-seven banks in December did not maintain the interest rate spread for lending and deposit set by Bangladesh Bank, according to the central bank data released last week. The BB data, however, showed that the overall interest rate spread, the gap between the interest rate on credit and deposit, and weighted average advance rate
‘Balanced’ monetary policy eases money supply slightly
Bangladesh Bank on Thursday announced a ‘balanced’ monetary policy for January-June, easing slightly money supply in the final year of the current government. The central bank governor, Atiur Rahman, while unveiling the six-monthly monetary policy statement said that they tried to strike a balance between GDP
BB, Probashi Kallyan Bank in disagreement
Launching of commercial banking BB, Probashi Kallyan Bank in disagreement Bangladesh Bank and the state-run Probashi Kallyan Bank have taken opposite stance on the latter’s proposal to allow it to go for commercial banking in limited scale. The PKB, a bank set up for expatriates’ welfare, has made a proposal that the central bank should ... Read more