The Bangladesh Bank is waiting for the interim government to bring a Payment and Settlement System Act, 2024 into effect, as it intends to take legal action against mobile financial service (MFS) provider Nagad Ltd over alleged irregularities.
After a five-month pause, dollar rates have started to rise, prompting the central bank to question the managing directors of 13 banks about the fresh volatility of the greenback.
BB issued letters on Dec 19 and the deadline for explanation ends today
As much as 89.3 percent of the credit extended by First Security Islami Bank, when controlled by the major Awami League beneficiary S Alam Group, to AL-affiliated Sikder Group by violating banking rules and regulations has become defaulted.
Problem-ridden Padma Bank has applied to the Bangladesh Bank for Tk 1,300 crore in liquidity support to mitigate its crisis and strengthen its ability to repay depositors.
Defaulted loans at six private commercial banks nearly tripled in one year till September 2024, according to central bank data, which bankers term “alarming”.
State-run Janata Bank has been partly exempted from the Bank Companies Act-1991 so that it can lend money to Beximco Group, a loan defaulter.
Consumer financing has slowed as people are adopting a go-slow strategy for taking loans, considering the increasing trend of interest rates amid ongoing inflationary pressure.
Bangladesh Bank is planning to initiate mergers and acquisitions among weak non-bank financial institutions (NBFIs) if a similar initiative in the banking industry sees success.
The scope for banks to avail Bangladesh Bank’s (BB) repo facility is set to narrow as relevant auctions will be held weekly instead of daily from upcoming July.
Bangladesh's foreign currency reserves have gone past the $20-billion mark after nearly a month thanks to the currency swap initiated by the central bank.
Twelve non-bank financial institutions (NBFIs) in Bangladesh are running without a regular managing director or chief executive officer and a majority of them have had their top post vacant for more than three months in a clear breach of laws.
Although the roadmap drawn up to reform the banking industry of Bangladesh may seem attractive on the surface, there are questions regarding its efficacy in ensuring good governance in the scam-hit sector.
The banking sector’s defaulted loans soared 20.7 percent to Tk 145,633 crore in 2023 as both governance and accountability continue to get looser.
The default loan ratio in the banking sector of Bangladesh rose to 9 percent in 2023 from 8.16 percent a year ago
For over a year now, thousands of Bangladeshi students wanting to study abroad have encountered obstacles while trying to open bank profiles essential for paying their fees or other expenses like housing and transportation
The Bangladesh Bank yesterday instructed nine banks, including four state-run lenders, to transfer officials who have been in charge of their foreign exchange booths at the Hazrat Shahjalal International Airport for more than one year.
Government treasury bills, popularly known as T-bills, have become a lucrative tool to park funds for investors and savers driven by a record spike in yields in recent months.
