Bank & Finance
Bank & Finance
Remittance inflows declining in
lower-middle income countriesMahfuz Emran: Due to the Russia-Ukraine war, the growth rate of remittances has officially declined in low and middle-income countries. The World Bank expects remittances to increase by 4.2 percent to $630 billion in 2022. However, the growth rate of remittance flow in these countries in 2021 was 7.6 percent…
Read More »Value of Taka decreased by 25 paisa
Staff Correspondent: The price of US dollar has risen in the country in a day. On Tuesday (May 10), the dollar is being traded at Tk 86.70 per dollar in the interbank currency market. The previous day was Tk 86.45 per dollar. The rupee depreciated by 25 paise against the…
Read More »BB struggles with $ demand
LCs worth $68.36 b open in 9-month Staff Correspondent: Bangladesh Bank (BB) is struggling to meet growing demand for the US dollar amid a sharp rise in post- pandemic economic activities.The number of credit bonds or LCs for importing goods is increasing unusually. In the first nine months of the…
Read More »US Dollar price touches Tk 93 in open market
Staff Correspondent: The market is not going to be controlled due to price volatility. The price of dollar is constantly rising. In the open market, there is a huge imbalance between supply and demand. As a result, you have to buy in the open market with around Tk 92 to…
Read More »Global Development Bank (GDB)
Ensure smooth online service during Eid: BB
Staff Correspondent: Bangladesh Bank has asked banks to ensure uninterrupted online transaction across the country during the Eid vacation.Md. Mesbahul Hoque, General Manager, Payment System Department (PSD) told yesterdaythat the central bank has instructed banks to ensure enough security for payment systems including ATM booths and internet payment gateways. The…
Read More »Chinese company to invest $50m in BEPZA economic zone
Industry Desk: Chinese Company Venus Beauty Limited is going to set up a hair fashion accessories manufacturing industry in Bangladesh Export Processing Zone Authority (BEPZA) Economic Zone with an investment of US$50 million.This fully foreign owned company will produce annually 226.09 million pieces of fashion accessories, plastic comb, mirror, headband,…
Read More »StanChart completes Host-to-Host ERP connectivity in Bangladesh’s poultry sector
Staff Correspondent: Standard Chartered Bangladesh has established a host-to-host (H2H) integration solution for Suguna Food and Feeds Bangladesh Private Limited (Suguna), one of the largest multinational feed companies operating in the poultry industry of Bangladesh.Standard Chartered Bank was the first to introduce the concept of host-to-host integration in cash management…
Read More »Budget challenges need to overcome
Allocations for mega projects likely to increase anew Golam Mostafa Jibon: The upcoming budget for Financial Year (FY) 2022-23 is being produced with the goal, which may be document of the next national parliamentary election for the government. Country’s people are expecting some good news in this budget with a…
Read More »Banks are shy of capital
market investmentDespite BB instruction Staff Correspondent: Though the investment volume of banks in the capital market has increased, many are still far away from their investment limit.Despite the policy relaxation and enforcement of Bangladesh Bank (BB), 36 out of 61 scheduled banks of the country have invested in the stock market.Md…
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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 …
