The central bank governor projects cooling the red-hot inflation, which has hovered above 9 percent since March last year, to 7 percent by June next year.
The Asian Development Bank (ADB) has become the first among multilateral and bilateral lenders to respond to the interim government's call for budgetary support, approving $600 million aimed at easing pressure on foreign exchange reserves and accelerating economic recovery.
Bangladesh’s national budget for fiscal year 2024-25 is likely to be reduced by more than Tk 50,000 crore, with the entire cut expected to be made in funds meant for the annual development programme (ADP).
Bangladesh, mired in data fog, has “sleepwalked” into the middle-income trap according to the white paper on the state of the country’s economy.
Distressed assets in the banking sector have reached a whooping Tk 6,75,030 crore, an amount bigger than the cost of building 22 bridges across the Padma or 13.5 metro rail systems in Dhaka, according to a White Paper released yesterday.
Despite rising interest rates on deposits and various efforts by the central bank, Bangladesh’s banking sector continues to face a liquidity crisis that has hamstrung some lenders.
Moody’s has downgraded Bangladesh’s banking sector to “very weak” from “weak”, citing worsening client confidence, limited transparency and inadequate financial safeguards over the past year.
When most non-bank financial institutions (NBFIs) in Bangladesh are in hot water with high ratios of non-performing loan (NPL), a handful have been successfully able to keep the rate low.
"I couldn't get anything out of the shop. Some of the gold and silver that I had burned and melted. The fire took everything. What it left is just my misfortune," said Ashraf Uddin, the owner of a jewellery shop.
The government rolled out the much-anticipated universal pension scheme today with an aim to bring all citizens aged above 18 under the coverage. Here are some of the key issues regarding the pension scheme.
Islami Bank Bangladesh Ltd (IBBL) retained the top spot among the lenders bringing remittance to the country in the just-concluded fiscal year, data from the central bank showed.
The percentages of households and people getting support from the government’s Social Security Programmes (SSP) in Barishal are the highest among the country’s eight divisions, according to the Household Income and Expenditure Survey (HIES) 2022.
Remittance rebounded in Bangladesh in the outgoing financial year, extending some breathing space to an economy struggling to keep its head above water amid the lingering crisis at home and abroad.
Remittance flows to Bangladesh rose to a three-month high in June as expatriates sent home $1.79 billion in the first 23 days of the month to help their families celebrate Eid-ul-Azha.
The tiles industry in Bangladesh has emerged as a resilient and dynamic sector, demonstrating remarkable growth since its inception and successfully overcoming various challenges.
The proposed budget will be 15.2 per cent of the Gross Domestic Product (GDP), according to the budget speech of the finance minister.
Grameen UNIQLO, a clothing brand, has said it is going to close all of its outlets in Bangladesh, more than a decade after it began its journey in the country.
“I risked my life to enter my shop despite the fire but could not save anything,” said Md Babul, a seller of baby cloth items at the New Super Market.
