Bank & Finance
Bank & Finance
Dollar crisis to be increased next year
Inflation to be 8.60 percent Mahfuz Emran: The dollar crisis may be increased in the coming days as the export earnings declining every month. Though the remittance inflow increased in April due to the Eid festival but the overall situation has not improved.The International Monetary Fund (IMF) has kept the…
Read More »Dollar spending more than income
Reserves under pressure Mahfuja Mukul: The country’s foreign exchange reserves are under pressure from short-term foreign loans. Due to increase in such loan repayments, reserves are decreasing. In the last one month, the reserves have decreased by $124 million. $12.98 billion decreased as of one year. Although it has increased…
Read More »Interest expenditure to be increased in budget
Arun Sarker: It is estimated that more than Tk 22 thousand crore will be spent in the interest expenditure sector in the budget of the next financial year 2023-2024 compared to the current financial year 2022-2023. That is, in the budget of the next financial year 2023-2024, the expenditure in…
Read More »Corporate taxes in Bangladesh highest in South Asia
Below Afghanistan in collection Zarif Mahmud: Bangladesh has the highest corporate tax rate in South Asia. But according to the research institute Center for Policy Dialogue (CPD), it is below Afghanistan. On the other hand, 2 lakh 13 thousand companies are registered in Joint Stock Company, but only 45 thousand…
Read More »Remittance rises to$2 billion in March
Staff Correspondent: Remittance earnings increased to $2 billion in March after six months thanks to offering higher dollar rate by banks than the rate set by Bangladesh Foreign Exchange Dealers Association (BAFEDA).Bangladesh Bank data shows that remittance inflow through the banking channel rose by 29.29% in March from $1.5 billion…
Read More »Interest rates to be skyrocket from July
Implementation of IMF conditions Mahfuz Emran: Bangladesh Bank has decided to waive the loan interest rate limit as per the conditions of the International Monetary Fund (IMF). As an alternative, the market-based interest rate will be introduced.This is why the central bank is creating a structure similar to the London…
Read More »2b dollars worth of trade by Rupee
India-Bangladesh trade Zarif Mahmud: The use of rupees is going to start in Bangladesh’s $2 billion trade with India. Bangladesh Bank has almost finished all kinds of tests in this regard. Its use will be introduced in both countries only after a bilateral decision on some issues. India-Bangladesh Chamber of…
Read More »AB Bank taking dollarprice as they like
Its Teknaf branch becomes a party office Special Correspondent: The government banks stopped issuing letters of credit (LC) long ago because of dollar crisis. But the C&F traders of Cox’s Bazar’s Teknaf land port could not stop their business. They have to approach private banks to redeem goods imported from…
Read More »New law will allowbanks to sue directors CEOs for damages
Industry Desk: As per the existing law, banks are able to remove their directors or chief executive officers from their respective positions if they are found to be involved in corruption or irregularities. But there is no provision which enables the banks to cover financial losses caused by the responsible…
Read More »Bank deposit decreasing due to economic crisis
Zarif Mahmud: The negative impact of prolonged economic recession has started to fall on the banking sector. Overall, the growth rate of deposit flow in banks is decreasing. This rate is decreasing in cities as well as in villages. However, the growth rate of deposits has decreased more in villages…
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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 …
