Bank & Finance
Bank & Finance
Most banks hiked interest rates from December
Despite BB didn’t issue any circular to this effect Industry Desk: The Bangladesh Bank has raised the lending rate cap on consumer loans to 12% after two and a half years of setting the interest rate ceiling at 9% for all types of loans.At the same time, the central bank…
Read More »No faith on banking system
Industry Desk: Amid a slew of reports emerging in different sections of the media on poor corporate governance at various banks leading to highly suspicious loan disbursement practices, Finance Minister A.H.M. Mustafa Kamal struck a highly defensive tone this week.Understandably questioned on the state of the banking sector recently, the…
Read More »People lost interest in insurance
Policy issued Mahfuja Mukul: Although the government has taken various steps to attract people towards insurance, it seems that it is not working very well. Rather, the country’s insurance is going in the opposite direction day by day. The number of insurance customers is continuously decreasing. Industry stakeholders believe that…
Read More »Probe alleged lending irregularities of IBBL SIBL and FSIBL: HC
Court Correspondent: The High Court (HC) has directed authorities concerned to probe reports of lending irregularities by Islami Bank Bangladesh Ltd (IBBL), Social Islami Bank Ltd (SIBL) and First Security Islami Bank Ltd (FSIBL).The HC, issuing a suo motu (voluntary) rule, also directed the authorities of the banks in question…
Read More »BB orders to ease LC opening of daily commodities during Ramadan
Staff Correspondent: Bangladesh Bank has instructed the banks to provide maximum support to imports to ensure price control and supply of essential commodities during the holy month of Ramadan. For this reason, banks have been instructed to facilitate import LC of daily commodities (edible oil, chickpeas, pulses, onions, dates, fruits…
Read More »People tend to single trade despite crisis
Golam Mostafa Jibon: People of the country are now leaning into single trade that raises hope in the dull economy during the global crisis.Sources said, wholesale and retail businessesare gradually expanding in the country to tackle the crisis. Apart from increasing the contribution of this sector to the economy, it…
Read More »SoBs loan recovery from top defaulters below 6pc of target
Staff Correspondent: Six state banks in the country collectively recovered Tk119.38 crore from their respective top 20 defaulters in the first six months of this year, which is less than 6% of the annual recovery target of Tk2,045 crore, according to the latest available data.The six lenders – Sonali Bank,…
Read More »Remittance grows 5 pc in 2022: WB
Staff Correspondent: Remittances to low and middle income countries (LMICs) withstood global headwinds in 2022, growing an estimated 5 percent to $626 billion.This is sharply lower than the 10.2 percent increase in 2021, according to the latest World Bank Migration and Development Brief.Remittances are a vital source of household income…
Read More »Financing for nature must more than double by 2025
Industry Desk: The world must drastically increase financing for nature-based solutions to meet key climate, biodiversity, and land degradation goals, a United Nations report said Thursday.The report comes as delegates from nearly 200 countries prepare to meet in Montreal next week to hammer out a new global biodiversity deal.The second…
Read More »Expats now can send remittance thru’ mobile
Staff Correspondent: The central bank is giving an opportunity to the expatriates to send remittances through Mobile Financial Services (MFS) directly.As a result, the expatriate can send the remittances to their home using mobile banking facilities like Upay, Bkash, and Rocket.The Foreign Exchange and Policy Department of Bangladesh Bank issued…
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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 …
