Bank & Finance
Bank & Finance
How do NBFIs collect deposits?
Farhad Chowdhury: In the recently passed ‘Finance Company Act-2023’, restrictions have been imposed on the collection of deposits from an individual up to a maximum of Tk 50 lakhs in a single name, a maximum of Tk 1 crore in a joint name, or sometimes more than the limit set…
Read More »63 pc of defaulted loans with 10 banks
Staff Correspondent: There are now 61 banks in the country. However, more than 63 percent of the total non-performing loans of the entire banking sector are in 10 banks. The list includes five private and five government banks. Once upon a time only the bad condition of government banks was…
Read More »BB stopped providing loan support to govt
Zarif Mahmud: In the face of widespread criticism, the central bank has finally stopped giving loans to the government by printing money. As a result, the government has relied on commercial banks and the non-bank financial sector for loans. This increases the government’s debt from these sectors.However, overall, the government’s…
Read More »Insurance sector need people’s trust: Secretary Salim Ullah
Staff Correspondent: Secretary of the Financial Institutions Department of the Ministry of Finance Sheikh Mohammad Salim Ullah has underlined the need for ensuring people’s confidence in insurance for booming the sector. “Insurance is such a sector where people need trust… there is no scope for cheating or lying in the…
Read More »BIF chief for corporate governance guideline for insurance sector development
Staff Correspondent: President of Bangladesh Insurance Forum (BIF) BM Yusuf Ali on Monday put emphasis on the need for implementing the corporate governance guideline to ensure development and good governance in the insurance sector. The corporate governance guideline prepared by the Insurance Development and Regulatory Authority (IDRA) is very timely…
Read More »Tk 1,600 cr of 4 govt banks stuck in NBFIs
Less chance to get back Staff Correspondent: Over Tk 1,600 crore of four state-owned commercial banks are stuck with some weak non-bank financial institutions. According to the 2022 financial report of state-owned Sonali, Rupali, Agrani and Janata Bank, out of which Tk 1,392 crore have been kept as fixed deposits…
Read More »Loan repayment pressure increasing
$87 m paid in 3-month Mahfuja Mukul: Bangladesh under the pressure of foreign debt repayment. In the first three months of the current financial year, $870 million have been disbursed, which in local currency (at Tk 110 per dollar) is about Tk 9,570 million.But during the same period of the…
Read More »Hand money returning to bank: BB report
Farhad Chowdhury: The trend of keeping money in people’s hands is decreasing. Deposits are more than withdrawals from the bank. The movement of cash outside the banking system has been decreasing for 3 consecutive months.At the end of June this year, the amount of cash outside the banks was close…
Read More »Bank MDs worried about dollar price
Selling Tk 127 in open market Mahfuz Emran: Association of Bankers Bangladesh (ABB) and Bangladesh Foreign Exchange Dealers Association (BAFEDA) held an emergency meeting with Central Bank Governor Abdur Rauf Talukdar on Thursday (November 9) to control the market in the unstable situation of the dollar market in the country…
Read More »BB doesn’t give loan to govt in 2-month
No new notes printed Zarif Mahmud: Bangladesh Bank issued loan to the government by printing a record amount of new money through development measures last financial year without responding to the advice given by the country’s economists for a long time. Inflation has increased abnormally. Therefore, Bangladesh Bank decided not…
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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 …
