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.
Motijheel is losing its historic lustre as Dhaka’s commercial hub, with Gulshan, among the wealthiest neighbourhoods in the capital, stealing its thunder.
Abdur Rouf Talukder resigned from the post of governor of the Bangladesh Bank on Friday, four days after Sheikh Hasina stepped down as prime minister and fled the country in the face of a mass uprising.
The Bangladesh Bank has incurred a loss of Tk 55 crore from its foreign exchange deal with Islami Bank centring the introduction of the crawling peg exchange rate system.
Islami Bank Bangladesh today rejected a cheque of a little-known company seeking to withdraw Tk 548 crore
Lending from offshore units of banks in Bangladesh has declined amid the ongoing foreign exchange crisis, leaving the segment in a fragile situation.
There is a lot of talk over a recent hike in interest rates but there is still scope to keep lending rates at a low level, said Md Afzal Karim, managing director of Sonali Bank.
Bankers are dreading a big drop in their profits as their defaulted loans are likely to increase further due to the curfew and the five-day internet blackout.
Rabiul Islam, a practising Muslim who works at a private organisation, refrained from conventional banking services for many years as both paying and receiving interest are against his religious principles.
The internet blackout for five days has affected remittance collection through banks and mobile financial services (MFS), which may put pressure on the country’s foreign exchange reserves.
Some banks have decided not to impose any interest or fees on clients for delayed payment of loan instalments, including that against credit cards, amidst a nationwide curfew and internet blackout.
Online banking, ATM and digital payment services including money transfers and utility bill payments continued to be disrupted yesterday amid the ongoing internet blackout across the country since Thursday.
