Bank & Finance
Bank & Finance
Govt keen to expand digital banking, examine if digital currency could be launched
Staff Correspondent: The government is optimistic about expanding digital banking in the country to accelerate financial inclusion with an aim to create more jobs for young jobseekers.According to an official document seen, the government has stepped in to examine the possibility of “establishing digital banks.”It says if digital banking, which…
Read More »UN-AUDITED THIRD QUARTER FINANCIAL STATEMENTS 2022 Of Sena Kalyan Insurance Com Ltd.
Bad loan stuck up
Industry Desk: Bad loans stuck in legalities kept piling up as over Tk153,000 crore were reportedly in limbo with the Artha Rin Adalat (money loan court) as of June this year.Bad governance, poor capacity, insufficient money loan courts, protracted case proceedings and stay orders were on a long list of…
Read More »Pound sinks as UK economic uncertainty rises
International Desk: The pound fell against the dollar on Friday as new figures showed a gloomy picture for the UK economy.Sterling slipped to $1.11, after rallying on Thursday as Prime Minister Liz Truss resigned, reports BBC.However, it clawed back losses on Friday evening and was back up to around $1.12…
Read More »Bond market getting popular
Staff Correspondent: Prime Minister’s Private Industry and Investment Adviser Salman F Rahman yesterday underscored the need for making the bond market popular to facilitate long-term finance to the industry.“Stock market in Bangladesh was only composed of equity transactions. However, the bond market is an integral part of a country’s capital…
Read More »Govt bond trading starts in stock market
Industry Desk: Bangladesh has started trading in government bonds and bills in the Dhaka and Chattogram stock exchanges.Earlier, the trading of 250 government bonds had started on Monday for the first time on the new platform on a trial basis. Sources said, two 5-year bonds were traded in the Dhaka…
Read More »Most new life insurance cos struggle to survive
Mahfuja Mukul: The number of insurance companies in the country is more than the demand, the government has approved new insurance companies one after another. Most of these insurance companies are not doing well due to political considerations. Also, the companies are not obeying the law.The companies are recklessly spending…
Read More »Loans to get costlier as BB hikes lending rate
Staff Correspondent: The Bangladesh Bank has increased the repo rate – the interest rate at which banks borrow short-term funds – by 25 basis points to 5.75% in a move to dampen inflation in the country.In its 56th meeting yesterday, the Monetary Policy Committee of the central bank took the…
Read More »Interest waivers by private banks rise 12-fold
Industry Desk: Private banks seem to be waiving interests too generously, which bankers say, to ease recovery of loans that remained unpaid for a long time.In April-June this year, the waived loan interests registered a 12-fold jump to Tk 2,557 crore from only Tk191 crore in the previous quarter, according…
Read More »Bangladesh yet to allow Rupee in foreign trade: BB
Staff Correspondent: Bangladeshi businesses won’t be able to use Indian Rupee for foreign trade as Bangladesh Bank (BB) is yet to enlist Rupee to settle letters of credit (LC).BB spokesperson and executive director Md Serajul Islam said that the central bank is yet enlisted Rupee for foreign trade.He said that…
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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 …
