Bank & Finance
Bank & Finance
LC opening decreased by $23 b in 11-month
Zarif Mahmud: The number of LCs (letters of credit) opening decreased due to the dollar crisis and various austerities. In the first 11 months of the current fiscal year, import credit openings fell by more than $23 billion. Credit flow to private sector is decreasing day by day due to…
Read More »Tk 108.5 for remittance Tk 107 for export proceed
Dollar hiked again Industry Desk: The dollar rates for remittance and export proceeds both have been increased, with the new rate for remittance set at Tk108.50 and for export proceeds Tk107.The new rates are set to go into effect from today, ABB Chairman and Managing Director of Brac Bank Selim…
Read More »Bank default loans surge to Tk1.31 lakh cr
Staff Correspondent: The defaulted loans in the banking sector climbed by about Tk10, 954 crore to Tk1,31, 621 crore in the January-March quarter.According to Bangladesh Bank (BB) the defaulted loans increased by 9 percent from three months ago and 16 percent from a year earlier, Despite different initiative of the…
Read More »Bangladesh receives $142cr remittance in 26 days of May
Industry Desk: The government is providing various facilities to send remittances through legal channels. As part of the initiative, Bangladesh received $141.942 crore in remittance in the first 26 days of May.According to the Bangladesh Bank data yesterday, $24.85 crore came through six state-owned banks. Apart from this, $4.70 crore…
Read More »BB prints Tk70,000cr new money in 11-month
Staff Correspondent: The Bangladesh Bank has injected Tk70,000 crore in new money into circulation in the first 11 months of the current fiscal year 2022-23 to support the government’s budget expenditure, creating further risk of inflation which already eroded the living standard of general people.The Bangladesh Bank started to create…
Read More »Reserve may stand at $ 24b in June
Mahfuz Emran: The central bank wants to keep the country’s foreign exchange net reserve at $24 billion. For this purpose, they have revised the foreign exchange income and expenditure plan.Among these, stricter import controls are being imposed to save foreign exchange, foreign exchange exemptions are being taken in less important…
Read More »Reserve close to danger level!
Mahfuz Emran: There is a lot of discussion and criticism about the reserve in recent times. The issue has also reached the political arena. Some say that reserves have decreased due to money laundering. Some say that this reserve crisis is the result of irregularities in the economic sector. Until…
Read More »SKICL declares 12 percent cash dividend
The shareholders of Sena Kalyan Insurance Company Limited have unanimously approved 12 percent cash dividend for the year ended December 31, 2022 as proposed by the Board of Directors.The proposal was approved at the 10th Annual General Meeting held virtually. Chairman of the company, Major General Iftekhar Anis presided over…
Read More »BB reserves dip below $30 b after 7-yrs
Almost every economist agrees with the following principle in reserve calculation: “Whatcannot be spent should not be counted.” Industry Desk: The foreign exchange reserves of Bangladesh fell below $30 billion on Monday, after transferring payment of $1.18 billion in liabilities to the Asian Clearing Union – a payment arrangement between…
Read More »Foreign investment increasing in BD
Staff Correspondent: Foreign investors are active in the stock market. Foreign investors’ transactions have doubled in April compared to last March.It is known that the total turnover of foreign investors in the stock market last March was Tk 87.51 crore. It increased to Tk 182 crores in April. In other…
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