Ahsan H Mansur stated that the country's Islamic banking sector would be completely restructured as most of the existing Islamic banks are currently in trouble.
With the central bank halting direct financing by printing new notes, the government also has no option but to turn to commercial banks to meet its fiscal needs.
Interest rates on government treasury bills rose again this month, reversing a brief downward trend and signalling a continued liquidity crunch in the banking sector.
Credit demand in the private sector of Bangladesh has virtually ground to a halt, hitting its lowest level since at least 2004, indicating a distressed business and investment situation.
Steady growth in remittance inflow has helped the interim government arrest the decline in foreign currency reserves, leading many to wonder why the remitters are sending more and more money back home.
The country’s foreign exchange market is stabilising thanks to a surge in US dollar (USD) inflows, driven by higher remittances, stronger export earnings and tighter oversight by the central bank.
Of the 35 NBFIs in the country, a dozen are currently struggling to repay depositors due to an acute liquidity crisis
The Bangladesh Bank (BB) has drafted a Deposit Protection Ordinance, proposing a maximum payout of Tk 2 lakh per depositor if a bank undergoes liquidation. The limit will be reviewed every three years.
It happened in just two days. A Nabil Group employee and a relative of its chairman own the firm.
The Bangladesh Bank (BB) today reconstituted the board of directors of three private commercial banks.
Credit appetite of the local private firms continues to fizzle out as the ongoing battle against inflation makes bank borrowing more expensive amid a volatile political climate after the August political changeover.
Defaulted loans in the country’s banking sector reached a record Tk 3,45,765 crore at the end of 2024 as toxic loans increased sharply following the political changeover in August last year.
“Mansur is a knowledgeable and well-intentioned governor, but given the sector’s sensitivity, he should exercise extreme caution in his public remarks”
Nazrul Islam Mazumder, chairman of Nassa Group and a close associate of deposed prime minister Sheikh Hasina, holds assets worth £43.23 million or about Tk 656 crore in the UK, according to the Bangladesh Financial Intelligence Unit.
A meeting between BFIU and managing directors of the banks made the decision
The Bangladesh Bank (BB) has uncovered serious irregularities at Al-Arafah Islami Bank, including misuse of its corporate social responsibility (CSR) funds.
Says Md Mehmood Husain, independent director and current chair of the bank
The Bangladesh Bank (BB) has maintained its tight monetary policy stance for the second half of the current fiscal year (FY) 2024-25 to tame the stubbornly high inflation.
