Distressed loans soar to a record Tk 4.75 lakh cr
Distressed loans at banks totalled over Tk 4.75 lakh crore at the end of 2023 – a revelation that makes for a sobering read of the actual health of this vital sector of the economy.
6d ago
Minimum 2% shareholding for board membership a reason behind banking sector ills
Referring to the legal provision requiring a 2 percent shareholding in a commercial bank to become a director, Abdul Mannan, chairman of First Security Islami Bank (FSIB), said this has driven away seasoned banking leadership from boardrooms and allowed infamous individuals like S Alam into banking leadership roles.
1w ago
Beximco seeks extension of loan tenure by 10 years
Beximco has sought support from the government to extend the repayment period of its liabilities to Janata Bank over the next 10 years, including a two-year moratorium.
1w ago
Forex market on the mend as remittances rebound
After a prolonged period of crisis, the foreign exchange market in Bangladesh, especially the interbank forex market, is showing signs of recovery, driven by a rebound in remittance receipts and key policy interventions by the central bank.
2w ago
Salman loses grip on IFIC Bank
The Bangladesh Bank yesterday constituted a new board of directors at IFIC Bank after dissolving the previous board, effectively bringing an end to Salman F Rahman’s grip on the private commercial bank.
1m ago
Islamic bank deposits grow despite irregularities
The country’s Islamic banking sector registered growth in deposits in June although several Shariah-based lenders are facing widespread scams and irregularities.
1m ago
Remittances jumped 39% in August
Remittances sent by Bangladeshis living abroad soared nearly 39 percent year-on-year to $2.2 billion in August, which is likely to ease pressure on the foreign exchange reserves to some extent.
1m ago
Orion Pharma’s Tk 132cr loan rescheduled with special approval
Orion Pharma Ltd, a pharmaceutical company of Orion Group, has been provided a rescheduling facility on a forced/demand loan by state-run Agrani Bank with special approval from the Bangladesh Bank.
1m ago
August 14, 2022
Agent banking accounts keep growing
Transactions through agent banking accounts rose 43 per cent year-on-year to Tk 5,64,844 crore in fiscal year 2021-22 as a growing number of people are now using the new banking window, showed Bangladesh Bank data.
August 8, 2022
Refiners want soybean up Tk 20 a litre
Edible oil processors have proposed a hike of Tk 20 per litre in the price of soybean oil on the ground of the significant depreciation of the taka, which has raised their import cost.
August 7, 2022
Edible oil processors want Tk20 a litre hike in soybean oil
Edible oil processors in Bangladesh have proposed the government raise the price of soybean oil by Tk 20 per litre, according to processors and officials of the Bangladesh Trade and Tariff Commission (BTTC).
July 15, 2022
Jute, jute goods exports fall for soaring shipping costs
Exports of jute and jute goods from Bangladesh declined in the last fiscal year due to the unprecedented surge in shipping costs and the higher price of raw fibres.
July 7, 2022
125 firms to import 2.5 lakh tonnes of rice
The government has permitted 125 companies to import a total of 246,000 tonnes of rice in order to cool down the domestic market for the staple grain in Bangladesh.
July 6, 2022
Bangladesh to import 2.5 lakh tonnes of rice
The government has permitted 125 companies to import a total of 246,000 tonnes of rice in order to cool down the domestic market for the staple grain in Bangladesh.
June 26, 2022
‘More than a bridge’
If Padma Bridge adds at least one percentage point to GDP, it will contribute $4.24 billion to the economy annually, which is higher than the total cost of the bridge, said Naser Ezaz Bijoy, chief executive officer of Standard Chartered Bangladesh.
June 11, 2022
Stamp duties to increase up to 300pc
The rate of stamp duty, which has been unchanged for a decade, is going to increase by up to 300 percent from the next fiscal year as the government aims to boost revenue collection from this source to finance part of its Tk 678,064 crore budget and keep borrowing within its target.
June 9, 2022
5.6% inflation target set for FY2022-23
The government has set a 5.6 per cent inflation target in the proposed budget for the 2022-23 fiscal year although the prices of essentials and other commodities are persisting at higher levels.
June 9, 2022
GDP growth target set at 7.5%
The Bangladesh government has set a target of 7.5 per cent growth of the country’s gross domestic product (GDP) in the upcoming fiscal year of 2022-23 beginning from July.
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