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
November 3, 2021
Weakening exchange rate driving down remittance flows
The flow of remittance to Bangladesh has been shrinking for the last several months as the number of people going abroad in search of jobs is declining and money transfers through informal channels like hundi have made a comeback with the ease of pandemic restrictions.
November 2, 2021
Weakening exchange rate driving down remittance flow: Debapriya
The inflow of remittance has been shrinking since the last several months as the number of people, going abroad, is decreasing and money transfers through informal channels like hundi are increasing with the ease of pandemic restrictions.
October 27, 2021
Farmers supply two-thirds of their crops to markets
Farmers in Bangladesh sell most of their crops to meet their financial needs after keeping a small portion for the consumption of their families, according to a new survey of the Bangladesh Bureau of Statistics (BBS).
October 26, 2021
39.5 lakh trading firms contribute 14pc to GDP
About 39.47 lakh establishments engaged in wholesale and retail trade, including motorcycle repair shops, contribute around 14 per cent to the country’s gross domestic product (GDP), according to a survey of the Bangladesh Bureau of Statistics (BBS).
October 15, 2021
Fast-track projects back in fast lane
Although fast-track projects had previously witnessed slow implementation for various reasons including the pandemic, they are now progressing gradually, according to a report.
October 13, 2021
Preparations not enough for mango export plan: experts
Although the government has set an ambitious target to export one lakh tonnes of mango annually within the next three to five years, no meaningful measures have been taken as of yet to achieve this lofty goal.
October 13, 2021
Govt bans soybean meal exports
The government yesterday banned the exports of soybean meal in order to rein in the spiralling prices of the key ingredients of poultry and cattle feed and protect consumers from paying more for animal protein.
October 10, 2021
Spiralling Food Prices: Low-income group half-fed
For Razia Sultana, a 50-year-old widow with three children to look after and a Tk 22,000 of fixed monthly income, every paisa counts.
October 8, 2021
Pre-Pandemic Level: Poverty set to drop further
The World Bank in a report noted a gradual recovery in employment and earnings in Bangladesh, forecasting that the country’s poverty rate will come down to pre-pandemic levels in the current fiscal year.
October 5, 2021
High Prices of Essentials: Double blow for those with fixed income
Prices of almost all daily essentials have shot up in the kitchen market, adding woes to the fixed-income people who are reeling from the economic slowdown caused by the pandemic.
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