Banks’ and financial institutions’ credit to the big industries decreased 0.92 per cent in the April-June period of this year compared to the previous quarter of January-March, according to the latest data of the central bank. And the industrial term loans disbursement posted only 1.47 per cent growth in the April-June period. Experts and business ... Read more
bangladesh bank
BB invites new banks’ applications
Bangladesh Bank on Tuesday invited applications from interested sponsors for establishing new private commercial banks in the country. The central bank, which took the decision to allow setting up of more banks apparently under political pressure, invited the sponsors to submit their applications by
Economy in tangles
People start to feel the pinch as govt rides on a high fuel import to feed fuel-guzzling power plants The letter shocked Rahman. A few lines typed in an official language across a white page with the bank’s insignia at the top. It says your monthly mortgage payment has been raised by Tk 3,000 in ... Read more
30 top DSE brokers blame BB for share market volatility
Top brokerage houses of the Dhaka Stock Exchange on Sunday blamed Bangladesh Bank’s frequent change in policies on commercial banks’ role in the capital market for the current liquidity crisis in the market. At a meeting with the DSE board, some 30 top brokers identified six major reasons for the latest fall in transaction volume ... Read more
Only 9pc of BB green energy fund disbursed in 2 years
Only nine per cent of the Bangladesh Bank’s loan refinance scheme for renewable energy and clean water projects has been disbursed in the two years since the facility was launched on August 3, 2009. Till July 2011, banks and financial institutions have borrowed only Tk 17.46 crore from the Tk 200 crore revolving funds
3 more banks to offer offshore banking
The Bangladesh Bank is going to allow three more commercial banks to open offshore banking branches to utilise the country’s foreign currency reserve more effectively and boost competition among the banks. The banks can open their offshore banking units in areas of their choice. The central bank has already finalised the process of approving the ... Read more
Safeguarding citizen’s money
Sadiq Ahmed Banking is an entirely different ball game. When a licence is given to a bank to manage citizen’s money, the government is taking on a huge responsibility. By granting the licence, it is essentially certifying that it has confidence in the enterprise and trusts that the enterprise will safeguard the citizen’s money it ... Read more
BB releases new banknotes
Bangladesh Bank yesterday released new banknotes of five denominations with the portrait of Bangabandhu Sheikh Mujibur Rahman. Prime Minister Sheikh Hasina launched the new notes of Tk 2, Tk 5, Tk 100, Tk 500 and Tk 1,000 at a function at the Prime Minister’s Office in Dhaka, marking the completion of 40 years of
NBFIs asked to inform BB about top loan defaulters
The Bangladesh Bank on Thursday asked the non-bank financial institutions to submit to it the latest information about the top-10 loan or lease defaulters every quarter. A circular of the BB Department of Financial Institutions and Markets also gave a specific table to be used by the NBFIs in preparing the
Dhaka elected Asia Pacific Group member
Bangladesh has been re-elected the member of Asia Pacific Group on Money Laundering (APG) steering committee from South Asian region for 2011-12. A Bangladesh Bank (BB) press release yesterday said Bangladesh was the APG steering committee member representing South Asia also in 2010-11. BB Deputy Governor Ziaul Hasan Siddiqui represented
Central bank under political pressure
Intense lobbying for approval to 15 new banks Bangladesh Bank has been under pressure from politicians to give approval for at least 15 new banks, finance ministry officials say. Some ministers, Awami League lawmakers and business groups close to the ruling alliance are lobbying government high-ups for permission to set up new
BB aims at squeezing credit growth in pvt sector
The Bangladesh Bank announced Wednesday its six-monthly monetary policy aiming at squeezing money supply to unproductive sectors and discouraging speculative usage of money to reduce the credit growth in the private sector to 18 per cent by June 30, 2012 from the present 25.5 per cent. BB governor Atiur Rahman announced what he termed an ... Read more
New monetary policy to tighten credit flow
Bangladesh Bank (BB) will certainly be comforted with the bumper crop production this year, but ructions in commodity markets still hold some weight for the central bank before announcing the new monetary policy later this week, reports BSS. Governor Dr Atiur Rahman is set to announce the monetary policy for the first half of the ... Read more
BB launches online service for faster CIB report sharing
The Credit Information Bureau of Bangladesh Bank started its online credit information service from Tuesday. BB governor Atiur Rahman inaugurated the online service at a function at Ruposhi Bangla Hotel in the capital. The newly established automated CIB will provide credit related information for prospective and existing borrowers including credit history of last two
Bangladesh Bank board opposes plan to open new banks
The board of directors of the central bank has opposed a government plan to allow more banks and financial institutions to come on the scene, saying the country does not require any new player in its financial regime. During an exclusive meeting with Finance Minister AMA Muhith on Sunday, the Bangladesh Bank board led by Governor ... Read more
Banks disbursed Tk12,184cr farm credit in last fiscal
Access to credit boost production Banks disbursed Tk12,184cr farm credit in last fiscal With the central bank’s strict monitoring and pragmatic measures, banks and financial institutions have achieved over 96 per cent of their annual target in farm credit disbursement in the immediate past fiscal, official sources said. Eight state-owned banks and financial institutions along ... Read more
BB opens up online money transfer, partly
The central bank has partly freed up foreign exchange transactions by approving online transfer of funds for academic purposes by credit card. Also, foreign professionals and scientific institutions here will be able to remit “membership fees” abroad online, Bangladesh Bank said in a statement
No writing on taka, please
Bangladesh Bank has requested all concerned to refrain from writing on currency notes as it causes financial loss to its bearer, destroys security features and wears out the notes. The BB in a release yesterday said it noticed different types of writing, including mobile phone numbers, on currency notes. Such writing destroys the notes’ security ... Read more
Banks’ liquidity marks a rise
Banks’ excess liquidity rose by Tk 3,000 crore within a month as they brought down their investment in the stockmarket and launched a drive to draw more deposits from clients. An increase in fund disbursement for the implementation of annual development programme (ADP) has also fuelled liquidity. The banks had excess liquidity of Tk 27,087 ... Read more
Appoint Yunus as chairman
Grameen Bank employees urge govt Employees of Grameen Bank yesterday urged the government to appoint Nobel laureate Prof Muhammad Yunus as chairman of the microfinance bank to ensure its smooth running. “If Prof Yunus cannot be allowed to work as managing director for crossing retirement age, he should be appointed chairman,” said Md Shamsul Alam, ... Read more