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.
5d 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.
6d 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.
1w 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
June 27, 2024
ADP spending in July-May hits four-year low
Spending under the annual development programme (ADP) hit a four-year low in the first 11 months of the current fiscal year, owing to a slower implementation rate centring the national elections.
June 27, 2024
Islamic banks’ liquidity plummets 77% in 3 months
Liquidity at Islamic banks in Bangladesh has decreased drastically, deepening a lingering cash crunch at the crisis-hit Shariah-based banks.
June 25, 2024
UAE emerges as top remittance source for Bangladesh
Bangladesh received the highest remittance from the United Arab Emirates in the first 10 months of the outgoing fiscal year, well ahead of traditional powerhouses such as Saudi Arabia and the United States, central bank figures showed.
June 13, 2024
Where can you buy cattle without cash this Eid?
Anyone unwilling to deal with the hassle of carrying a large amount of cash to buy sacrificial animals for Eid-ul-Azha can now make their life easier by visiting a cattle market offering cashless transaction facilities.
June 7, 2024
Solutions not offered
The proposed budget for 2024-25 lacks creativity and offers no solutions to the many complex challenges facing the country’s economy, economists have said.
June 6, 2024
Finance minister set to unveil Tk 7,97,000 crore budget
Finance Minister Abul Hassan Mahmood Ali is going to unveil his as well as the new government’s first budget today.
May 16, 2024
Bangladesh expands offshore banking in hunt for forex
Offshore banking is increasingly becoming a key window for banks in Bangladesh to facilitate investments and international trade by attracting deposits in foreign currencies.
May 12, 2024
Poverty reduction rates arithmetically correct. Do they reflect reality?
Bangladesh is doing better than many countries in reducing poverty. However, questions remain whether the data about poverty alleviation match reality, according to Prof Joe Devine, an expert on poverty, inequality, and vulnerability
May 12, 2024
Private sector's short-term foreign debt drops
The debt stood at $11.04 billion in March, $11.07 billion in February and $11.25 billion in January, according to Bangladesh Bank.
May 3, 2024
Half of remittances came thru Islamic banking in Dec
Nearly half of the total remittances in December last year came to Bangladesh through Islamic banking channels, according to the Bangladesh Bank.
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