Bank & Finance
Bank & Finance
Expats send $1.25b remittances in 20-day
Cash incentive on remittance increased to 5pc Rafiqul Islam Azad: Expatriate Bangladeshis sent remittances of 125 crores and 70 thousand dollars to the country through legal and banking channels in the first 20 days of October. In Bangladeshi currency, the amount is equivalent to about Tk 13,834.17 crore, according to…
Read More »$9 b export income yet not returned
Bangladesh exports goods worth $55 b in 2022-23 FY Rafiqul Islam Azad: Around $9 billion from export earnings in the 2022-23 financial year has yet to come to the country, which has been facing a dollar crisis for a long time. In the financial year 2022-23, goods worth $55 billion…
Read More »Call money interest highest in 7 years
Banks facing serious liquidity crisis Mahfuja Mukul: Banks are not getting deposits at the rate they are lending. Due to this, many banks are facing severe liquidity crisis. As a result, banks have to borrow money from another bank at high interest to meet the daily cash demand.Banksare now borrowing…
Read More »Write off loan stood at Tk 68,000 crore
Mahfuz Emran: The commercial banks of the country are increasing the amount of write offloan. In the last one year, the foreclosed loans have increased by Tk 7,319 crores. At the end of last June, the total amount of written off loans stood at around Tk 68,000 crores. Banks generally…
Read More »15 banks face capital deficit of Tk 33,774 cr
Rafiqul Islam Azad: A total of 15 banks in the country had a capital deficit of Tk 33,774 crore at the end of last June, which is approximately 1 percent higher than the previous three months. At the end of March, the deficit was Tk 33,575 crore. A number of…
Read More »BB sells $3.75bin 3-month
Dollar erosion continuing Mahfuja Mukul: The country’s foreign exchange reserves are continuously declining. However, the sale of dollars from the reserve does not stop. Bangladesh Bank has sold $3.75 billion from reserves in the first three months and eight days of the current fiscal year (2023-24) to meet import liabilities.…
Read More »PK Halder gets 22 yrs jail
Staff Correspondent: A Dhaka court on Sunday sentenced disgraced director of International Leasing and Finance Service Ltd (ILFSL) Proshanto Kumar Halder, also known as PK Halder to 22 years of imprisonment in a case over amassing wealth and money laundering.Thirteen other accused in the case were sentenced to seven years’…
Read More »Default loans of 42 banks increased
Bangladesh Bank report Syed Nasir Hossain: Defaulted loans of the banking sector have increased abnormally. Bangladesh Bank has not been successful in reducing defaulted loans despite various concessions. In the last three months (April-June), out of 61 banks in the country, 42 banks have increased their defaulted loans. In three…
Read More »Reserves falling due to lack of market based dollar rate
Loan interest rate increased again Mahfuz Emran: The International Monetary Fund (IMF) has expressed extreme displeasure over the non-fulfillment of market-based dollar rate conditions. The agency sees it as unrealistic to fix different rates especially for remittances, exports and importers.Even the rate at which Bangladesh Bank sells dollars from reserves…
Read More »Capital market lost Tk 2000cr capital
Since starting US visa ban Staff Correspondent: The stock market has been falling since the news of the US visa ban. The market capitalization of Dhaka Stock Exchange (DSE), the main stock exchange, has decreased by more than Tk 600 crore as the share prices of most companies fell over…
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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 …
