Bank & Finance

Transaction system gets easier Golam Mostafa Jibon: The trend of dollar spending through credit cards in the country has increased at an unusual rate that makes the transaction system easier. In the first three months of the current fiscal year, transaction through cards was Tk 1,545 crore, which was Tk…

Industry Desk: Borrowers may have to experience expensive loans as lending rate caps are being phased out to allow banks to return to their profitability amid inflationary pressure.Bangladesh Bank (BB) plans to lift the limits on interest on credits in phases from the third quarter (Q3) of this fiscal year…

Janata Bank among top 10 defaulters Golam Mostafa Jibon: Country’s 10 banks including state-owned and private have now remained on top position for defaulted loans.The sum of defaulted loans in banks and financial institutions is increasing by leaps and bounds. In this situation, 10 banks are inflicted with the largest…

Deficit of 4SoBs Tk 11696 cr Private banks Tk 8137 cr Mahfuja Mukul: Banks are giving special discounts for businessmen in repayment of loans. Exemption has not yet expired. As a result, customers are exempted from defaulting even if they do not fully pay the loan installments. However, the defaulted…

Traders in trouble Staff Correspondent: There is a dollar crisis in the banks over the country. Due to this, traders are not able to import goods from different destinations. Importers fear that there will be a decline in the import of goods.Importers say that many are unable to open letters…

LC opening restraint Industry Desk: Data analysis showed that after growing for six straight months, private sector loan growth dropped to 13.93% in September.Private sector loan growth decreased from 11.07% in January to 10.87% in February of this year.After six months of growth, the private sector’s credit growth slowed in…

Industry Desk: Bangladesh Bank Deputy Governor Abu Farah Md Nasser yesterday said that proper utilization of Credit Guarantee Scheme is inevitable for revival of Cottage Micro Small and Medium Enterprises (CMSMEs).He said although the Bangladesh Bank has created a fund of Tk 2000 crore for Credit Guaranty Scheme with a…

Industry Desk: Developing countries are facing an economic crisis, heavy debt burdens, high inflation, and climate change. It is a crisis facing development itself, said World Bank President David Malpass.He said this while participating in the 27th climate conference organized by the United Nations in the Egyptian city of Sharm-al-Sheikh…

Staff Correspondent: Despite taking VAT registration, around 22 percent of companies are not submitting their VAT returns.A large number of individuals are also remaining out of the tax network despite having taxable income.A total of 26 lakh people or 52.41 percent of the taxpayers did not submit their income tax…