Bangladesh Bank has raised the limit for cash transaction report for commercial banks to Tk 10 lakh from the existing Tk 7 lakh. The BB issued a circular on Sunday to the managing directors and the chief executive officers of all commercial banks asking them to follow the instruction on submission of the CTR with
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Banks asked to keep branches open on Aug 18
BB to release new Tk 20 note Bangladesh Bank on Monday asked the commercial banks to keep open all or some of their branches on Saturday (August 18) to facilitate banking ahead of Eid-ul-Fitr. The BB issued a circular in this regard asking the banks to take adequate security measures to keep the branches open ... Read more
BB gives 25 machines to police, RAB
Counterfeit currency detection BB gives 25 machines to police, RAB Bangladesh Bank on Sunday supplied 25 counterfeit currency detection machines to Dhaka Metropolitan Police and Rapid Action Battalion to prevent circulation of fake notes ahead of Eid-ul-Fitr. BB deputy governor Md. Abul Quasem said the central bank had already taken a number of measures to ... Read more
BB likely to set interest rate ceiling for SME loans
Bangladesh Bank may set a ceiling of interest rate for SME loans to curb the existing high banks’ interest rate of 18 to 20 per cent in the sector, said central bank officials. A BB official told New Age on Thursday that the central bank had taken a measure after the private sector development policy ... Read more
Taka shines against dollar
The taka has gained nearly five per cent against the US dollar over the past six months as import of products except fuel oil fell and foreign remittance rose. The foreign currency reserve touched $10.70-billion mark on Thursday as the 2012-13 fiscal year kicked off with a downtrend of opening of import LCs (letter of ... Read more
Eid spurs remittance flow
Remittance inflow rose by 17.55 percent to $1.19 billion in July from a year ago, riding on the upcoming Eid festival. The central bank governor yesterday sat with chief executives of all banks at his office in the capital to discuss ways to increase the flow of remittances. Bangladesh Bank will organise roadshows in the USA ... Read more
BB to analyse health of state-owned banks
The central bank has opened in-depth analyses of the financial health of all branches of the four state-owned commercial banks, to delve into fraudulent loan sanctions, officials said on Thursday. The drastic move by the Bangladesh Bank (BB) came after its investigation team had found irregularities in loans, of up to Tk. 2,638 crore, extended ... Read more
Merchant banks seek funds to compensate retail investors
Merchant bankers have sought financial help from the government to pay compensations to the retailers affected in the last year’s stock market debacle. They demanded credit worth Tk 9.0 billion at 10 per cent interest from the central bank to implement the compensation package. “We need loan to implement the package,” said MA Hafiz, president ... Read more
BB restricts banks’ land, floor space purchase
The Bangladesh Bank has decided that commercial banks will not be allowed to purchase or lease for 10 years or more any lands, buildings and floor space for any purpose other than use by their head offices. However, in areas under the jurisdiction of city corporations, they can buy or lease office space for their ... Read more
BB asks banks to take measures against fake notes
Bangladesh Bank on Sunday asked commercial banks to take necessary measures against fake currencies so that the counterfeiters cannot operate ahead of Eid-ul-Fitr. The BB issued a circular to managing directors and chief executive officers of all commercial banks asking them to guard against counterfeit notes as significant amount of money would be
2 new BB depts to promote digital banking, client service
Bangladesh Bank has introduced two new departments — payment systems department and financial integrity and customer services department — to promote digital banking and to enhance the clients’ interest protection, said central bank officials. The central bank issued two circulars on the launching of the departments
StanChart, Citibank, SBI, Prime slip from top position
BB CAMELS rating StanChart, Citibank, SBI, Prime slip from top position Four banks, including multinational Standard Chartered and Citibank NA, slipped from the top position in the latest CAMELS rating of the Bangladesh Bank. The composite CAMELS (capital adequacy, asset quality, management, earning, liquidity and sensitivity) rating for July–December 2011 showed that StanChart, Citibank, State ... Read more
BB to close counters for selling new notes, exchanging torn ones
The Bangladesh Bank has decided not to sell new notes of currencies or exchange old and torn notes from its counters from May 2. The central bank in a statement on Tuesday said people would be able to buy new notes and exchange their torn currency notes and mutilated coins for new ones at over ... Read more
Nod to 6 more new banks
Central bank rules out political consideration The Bangladesh Bank yesterday gave the go-ahead for six new private banks, all linked with either lawmakers of ruling Awami League and Jatiya Party or influential persons. BB Deputy Governor Sitangshu Kumar Sur Chowdhury told reporters that the new banks were approved after “proper evaluation” and without any political
3 NRB banks get approval
Central bank unhappy with ranking of local aspirants, sits again Sunday The central bank yesterday approved three new banks sponsored by non-resident Bangladeshis (NRBs) on condition that they will double their earlier proposed capital. The meeting of the Bangladesh Bank Board of Directors that took the decision was adjourned till Sunday. When it resumes, proposals ... Read more
Civil servants’ salaries to proceed by e-payment
The government will process all public transactions electronically within the next couple of months, said Bangladesh Bank’s (BB) Governor on Thursday. While addressing the launching ceremony of ‘ICBI Easy Pay’, a new product developed by ICB Islamic Bank Ltd based on Electronic Fund Transfer Network (EFTN) in Motijheel, Governor Dr Atiur Rahman said, “Initially, public ... Read more
BB receives 37 applications
Bangladesh Bank has received 37 applications for permission to set up new banks. On the list of the applicants are many influential lawmakers, politicians and businessmen having strong links with the ruling alliance. Under pressure from government high-ups, the board of the central bank in September decided to give its approval for new banks, provided ... Read more
Stock market stimulus package announced
The Security and Exchange Commission on Wednesday announced the stock market stimulus package which included some immediate steps to the relief of mostly institutional inventors and pledges for some special schemes for non-institutional investors. The commission chair, M Khairul Hossain, in the afternoon announced a number of steps
Stocks plunge ahead of stimulus announcement
Speculation over non-inclusion of CRR, SLR reduction spread panic Dhaka stocks plunged by 224 points on Wednesday in late panic-driven selling following a rumour in mid-session that the government’s stimulus package which would be announced after trading hours would not include reduction of banks’ cash reserve requirement and statutory liquidity ratio. DGEN, the benchmark general ... Read more
DSE turnover crosses Tk 8b mark
Buoyed by a number of measures to lift the stockmarket, turnover at the Dhaka Stock Exchange crossed Tk 8 billion on Tuesday, surpassing by a staggering nearly Tk 3 billion transaction of the day before. The bullish run has been continuing for the past couple of days after the bourse authority and the National Board ... Read more