Bank & Finance
Bank & Finance
Arrest 15 AB Bank officers in 7-day: HC
Embezzlement of Tk176 cr Court Correspondent: The High Court (HC) yesterday ordered authorities concerned to arrest 15 accused within next seven days in a case lodged over embezzling Tk176.18 crore of AB Bank Limited.The court also imposed travel against the 15 accused.The High Court bench of Justice Md Nazrul Islam…
Read More »3 Sonali Bank officials get 31-year in jail in fraud case
The court also fined each of the accused Tk 28 lakh Noakhali Correspondent: A court in Noakhali yesterday sentenced three Sonali Bank officials of Sonagazi branch to 31 years in prison each on charges of deception, fraudulence and embezzlement.The court of district judge also fined Tk 28 lakh each of…
Read More »Islamic banks hold higher asset risks in Bangladesh
Shariah banks progressing fast in Bangladesh, Says Shahjalal Islami Bank MD Staff Correspondent: The US-based credit rating agency Moody’s in their recent report stated that Islamic banks in Bangladesh have higher asset risks than conventional private banks because they have rapidly increased corporate exposure. They also mentioned that the loss…
Read More »BB rejects Padma Bank’s plea to merge with state lender
Staff Correspondent: Bangladesh Bank has rejected a proposal to bail out Padma Bank, a lender riddled with scams and irregularities, and advised it to seek investment from abroad.Finance Minister AHM Mustafa Kamal had previously indicated that the floundering bank would have merged with or been acquired by a state-owned financial…
Read More »BB issues directives to stop writing, stapling on Taka
Staff Correspondent: Bangladesh Bank (BB) has issued directives to stop writing and stapling on Taka, the currency of Bangladesh. Even though such instructions were given earlier, the central bank has become stricter again as it was not effective.The instructions in this regard have been issued by the Department of Currency…
Read More »Dickson lauds Bangladesh’s efforts on climate front
Industry Desk: British High Commissioner to Bangladesh Robert Chatterton Dickson yesterdayrecognised Bangladesh’s leadership role in the realm of climate change mitigation and adaptation, and applauded the tremendous achievements of Bangladesh that it will present at COP26.Addressing a webinar, the High Commissioner highlighted four individual aspects of tackling climate change –…
Read More »Loan recovery frustrates regulatory authorities
Most banks recover less than 1pc of outstanding loans Mahfuja Mukul:The banking sector of the country has posted down graded performances during the first eight months of current calendar year. Most banks neither been able to earn any significant amount of profit nor been able to recover outstanding loans. As…
Read More »Govt cuts interest rates on savings certificates
Staff Correspondent: The government yesterdayreduced the interest rates on all types of savings certificates.Under the new rules, those who have invested more than Tk15 lakh in five-year savings certificates, will get a 10.30% profit at the end of the term.If the investment is more than Tk30 lakh, the profit rate…
Read More »Bankers condemns misleading reports on BB Governor
Staff Correspondent: The Association of Bankers Bangladesh (ABB) yesterday slammed reports containing “misleading headlines and information” about its meeting with Bangladesh Bank Governor Fazle Kabir.According to ABB, the reports published in media outlets allegedly misrepresented the nature of the meeting that took place among BB Governor and ABB representatives, reads…
Read More »Governance of financial sector needs to be improved
Says BB governor Staff Correspondent:The financial sector needs further improvement in governance, said Bangladesh Bank Governor Fazle Kabir.He made the remark while speaking as the chief guest at an event organised yesterday to honour the top taxpayers of the country.Thirty banks and financial institutions of the country were honoured as…
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Hotels to be converted for Covid hospitals
Hospitals overwhelmed Staff Correspondent: The government is going to rent hotels for providing treatment …
