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
September 30, 2021
Population census faces further delays
The sixth population census of the country is set to see further delays as the Bangladesh Bureau of Statistics (BBS) has failed to conduct it as per schedule, although three years have passed since drawing up a master plan.
September 26, 2021
Bangladesh joins New Dev Bank
Bangladesh will have to pay $188.4 million to the New Development Bank (NDB) as paid-up capital for being a member of the new international lender.
September 21, 2021
Puma to expand Bangladesh footprint
Just two years after first entering the Bangladesh market, German sportswear giant Puma is going to further expand its horizon in the country.
September 19, 2021
Poultry farmers in a double bind
Poultry farmers, who have already been hit hard by the pandemic, are struggling to survive due to low prices of chicken currently prevailing in the market coupled with a sharp rise in feed prices.
September 17, 2021
Quarterly GDP growth data from next fiscal year
The Bangladesh Bureau of Statistics (BBS) is going to publish the gross domestic product (GDP) growth data every quarter from the next fiscal year.
September 8, 2021
Customers suffer as Nagad blocks accounts alleging suspicious transactions
A number of customers of Nagad have alleged that they were facing troubles in carrying out transactions on their accounts as the mobile financial service provider has suspended them on suspicion of unusual transactions with e-commerce platforms.
August 25, 2021
Low incomes shrink further
The already low incomes of skilled and unskilled workers have been squeezed further for last month’s countrywide lockdown, making it more difficult for them to stay afloat amid the Covid-19 fallout.
August 22, 2021
Austerity saves Tk 12,000cr
The government has saved about Tk 12,000 crore by embracing austerity in purchasing cars for its officials since the pandemic struck Bangladesh, a development that offers the scope to look into how to cut costs.
August 18, 2021
$250m currency swap: Sri Lanka gets first tranche of $50m this week
The central bank will lend $50 million to under-pressure Sri Lanka this week as part of Bangladesh’s efforts to support the Island nation suffering from a foreign exchange crisis.
August 17, 2021
New mango varieties gaining ground
New mango varieties are getting priority on consumers’ list of preferences for being tastier and more attractive than the existing ones.
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