Bank & Finance
Bank & Finance
Commercial banks started increasing interest rates
Mahfuja Mukul: Banks have started raising interest rates on loans. In the meantime, banks have increased the loan interest rate up to a maximum of 2 percent depending on the customer. Some banks have already started imposing new interest rates and deducting additional installments. But some banks are waiting to…
Read More »Reserves increased by borrowing $ 507 m from World Bank
Mahfuja Mukul: In a span of two days, the foreign exchange reserves of Bangladesh Bank have increased to more than $30 billion. $507 million received from the World Bank as a budget loan support has been added to the foreign exchange reserves. As a result, it has increased to $3,360…
Read More »Dollar price increased by Tk 22 in 14-month
Zarif Mahmud: The volatility in the dollar market is not abating. It may last another year. In the future, the severity of the dollar crisis will decrease somewhat. But the price will increase further. There is a severe dollar crisis in the country for 14 months. In May last year,…
Read More »BB sets to announce ‘SMART’ lending rate for July
Industry Desk: After three years of maintaining a fixed interest rate cap on lending, Bangladesh Bank is set to unveil a reference lending rate, as per the new monetary policy announced last month for the next six months to rein in the skyrocketing inflation.The monthly reference lending rate, termed SMART,…
Read More »BB doubles dollar sales in FY23
Staff Correspondent: Bangladesh Bank (BB) has significantly ramped up its efforts to stabilise the dollar market in the outgoing fiscal year 2022-23, selling $13.5 billion, nearly double compared to $7.62 billion in the previous fiscal year.On the last working day of the fiscal year, the central bank injected an additional…
Read More »Default loans in trap of rescheduling formula
Over Tk 2.0 tr bad debt hide in 10-yrs Zarif Mahmud: Rescheduling of bank loans is not stopping. In the first 3 months of this year, over Tk 3,000 crores of defaulted loans have been rescheduled. This information has come up in the latest report of Bangladesh Bank.But rescheduling means…
Read More »Money laundering still increasing in Bangladesh
Tk 92,000 cr smuggled every year Zarif Mahmud: According to the GFI report released in December last year, $4,965 million have been smuggled out of Bangladesh in 6 years. Which is Tk 556,000 crores in local currency as Tk 112 per dollar. An average of Tk 92,000 thousand crore is…
Read More »Security asset will be forfeited, if default
Secured Transactions Act is final Bill to be presented this week Mahfuja Mukul: If the borrower defaults, the ‘immovable property’ of the collateral will be forfeited. Besides, repossession of movable property can also be taken. The Lending Institution shall have control and custody of the collateral until the account of…
Read More »Bangladeshis make most purchases on credit cards in India
Special Correspondent: Bangladeshis spend the most money on credit cards when visiting neighboring India. After India, Bangladeshis spend more in the United States. This information has been given in a report of Bangladesh Bank.Bangladesh Bank has prepared a report on credit card spending trends for the first time. According to…
Read More »Inflation surges 9.94pc in May
Highest in a decade Staff Correspondent: Consumer prices surged 9.94 percent in May, after slowing slightly in April, according to data from the Bangladesh Bureau of Statistics.Driven by food inflation of 9.24 percent and non-food inflation of 9.96 percent, the rate in May was the highest year-on-year rise in consumer…
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