Thursday, March 28, 2024

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

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

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

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

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