Bank & Finance
Bank & Finance
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…
Read More »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…
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