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
March 17, 2024
'Bearish market resulted from floor price'
The long-term imposition of the floor price has had a negative impact on the stock market, leading to the current bearish trend, according to Md Ashequr Rahman, managing director of Midway Securities.
March 5, 2024
Bangladesh yet to benefit from GI-certified products
Bangladesh is yet to derive any benefit from the products granted the status of geographical indication (GI) due to a lack of initiatives from stakeholders although the recognition enhances the reputation of goods, builds consumer confidence and brings in higher prices.
February 25, 2024
Rushed GI status raises questions over efficacy
In an unprecedented move, the Ministry of Industries in Bangladesh has issued preliminary approvals for 10 products to be awarded geographical indication (GI) status in a span of just eight days recently.
February 20, 2024
Shwapno aims to clock $2b sales in seven years
Shwapno has posted operating profit in the last two years and witnessed a nearly six-fold increase in sales in the past one decade. And the fastest-growing retail chain in Bangladesh hopes to maintain its momentum in the coming years.
February 15, 2024
Sunquick rolled out to win hearts of customers thru quality fruit drinks
ACI CO-RO Bangladesh Ltd, a joint venture of ACI Ltd and Danish fruit drinks manufacturer CO-RO A/S, has launched its juice products in Bangladesh under the brand name Sunquick.
February 12, 2024
Signs of reverse migration to villages as economic struggle persists
The number of people who returned to villages from cities and major towns almost doubled in 2022 from a year ago as living expenses exceeded their incomes, official figures showed.
February 8, 2024
Govt set to give Tangail sari GI status
The industries ministry is going to award Tangail sari the geographical indication (GI) status following a public outcry in Bangladesh, a week after India granted the same recognition to ‘Tangail Saree of Bengal’.
February 5, 2024
Tangail Sari: Collective apathy to blame for GI fiasco
As India’s geographical indication (GI) recognition of Tangail sari sparked widespread outcry and criticism around Bangladesh, including on social media, questions have emerged about why Bangladesh failed to get GI recognition despite being a rightful claimant
January 28, 2024
Winter discounts bring cheer to clothing brands, customers
Although there are only about 17 days to go before the biting cold all over the country makes way for the warm embrace of spring, customers are flocking to outlets of local clothing brands in a rush to secure the best winter clothes.
January 28, 2024
Bangladesh’s rise in mobile money: A global perspective
The mobile financial services (MFS) are growing faster in Bangladesh than its global low- and middle-income counterparts, driven by people’s widespread adoption of handset-based solutions in the absence of their active participation in traditional banking channels.
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