Bank & Finance
Bank & Finance
Tk 23,000 cr returned to banks in two months
Rafiqul Islam Azad The amount of money in people’s hands decreased by about Tk 33,000 crore in the first two months (July-August) of the current fiscal year, while approximately Tk 23,000 crore was deposited in bank accounts during the same period, according to the latest report from the Bangladesh Bank.…
Read More »BB seeks exemption from net reserve condition
Getting 2nd installment of IMF loan Staff Correspondent: Bangladesh Bank officials have sought regulatory relax of the condition for improving the net reserves of foreign currency at $24.46 billion by the end of June 2023. The actual reserve stood at about $18 billion.The International Monetary Fund (IMF) approved a $4.7…
Read More »Taka lost 30pc value in 2-yr against dollar
Mahfuz Emran: A major foreign exchange crunch has emerged in the country, including non-expected product exports, reduced remittance flows and pressure to repay foreign loans.By this, the US currency dollar is continuously strengthening.On the contrary, the value of local currency is weakening.The taka has depreciated by more than 16 percent…
Read More »2nd installment of IMF loan uncertain
Some conditions not fulfilled Zarif Mahmud: The second installment of $4.7 billion IMF loan becomes uncertain due to not compliance of some of the pre-conditions set by the donor agency including the development of forex reserve at $ 24.46 billion, adjustment of fuel oil and power tariff. In the real…
Read More »Hundi or manipulation?
Reasons behind the collapse of remittance Mahfuz Emran: When the country’s dollar crisis is at its peak, expatriate income has collapsed. In the recently departed month of September, the expatriate income came to $134.37 million. In Bangladeshi currency (one dollar is equal to Tk 109.50), the amount is Tk 14,712…
Read More »Budget implementation a big challenge
Ministry instructions to speed up Farhad Chowdhury: According to the plan, the implementation of the budget on time and properly is still a big challenge, according to the Ministry of Finance. The finance department of the finance ministry said that there is no proper plan in terms of revenue collection…
Read More »BSEC allows Tk 1700 cr bond for 3 listed banks
Staff Correspondent: The regulatory body of the capital market-BSEC has approved the bond issue of three institutions of the banking sector listed in the capital market, One Bank Limited, BRAC Bank Limited and Dutch-Bangla Bank Limited for Tk 1,700 crore. BSEC Chairman Professor Shibli Rubaiyat-ul-Islam presided over the 883rd commission…
Read More »Why doesn’t decline of reserve stop?
Syed Nasir Hossain: The Bangladesh’s reserves are continuously decreasing as the expenditure is more than the foreign exchange income. The central bank is imposing various restrictions including multilateral decisions to increase the flow of dollars in the market to prevent the collapse of reserves. But in reality, its benefits are…
Read More »World Bank wants 5 percent interest instead of 2 percent
Is it economic embargo? Staff Correspondent: The International Development Association (IDA) is a subsidiary of the World Bank for providing low-interest flexible loans, with Bangladesh as its largest customer. IDA loan service charge is 0.75% and interest rate is 1.25%. Both together are 2 percent. A commitment fee of 0.50%…
Read More »AC holders with crore taka belong 43pc of deposit
Rafiqul Islam Azad: The number of accounts with deposits in crores of taka is steadily increasing in the country’s banks, despite the ongoing financial crisis, rising commodity prices, and inflationary pressures. At the end of June last year, the number of these depositors in banks had risen to 113,000. According…
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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 …
