Bank & Finance

Staff Correspondent: The state-owned banks (SoBs) have not been able to achieve their target of recovering defaulted loans. Stay away from achieving the real target set, the revised target is not showing any success in performing. In the first six months of the current fiscal year 2021-2022, six state-owned commercial…

Staff Correspondent: Bangladesh’s trade with Russia may face some hiccups if the country’s (Russia) banks are kicked out of the SWIFT system.The Society for Worldwide Interbank Financial Telecommunication, or SWIFT, is a Belgian cooperative society providing services related to the execution of financial transactions and payments between banks worldwide.The Finance…

Mahfuja Mukul: Less than one percent people of the country have not life insurance coverage due to lack of knowledge and worst performance of the insurers. The insurers are not willing to pay claims on time.Most of the insurers pose negative attitude in payment of claims. Only 2-3 companies pay…

Staff Correspondent: Basic Bank is one of the loss-making state-owned banks. Basic Bank’s loss amounted to Tk 361 crore. The bank has been asked to bring down its loss to Tk 400 crore in the current financial year.An official from the finance ministry’s banking and financial institutions said Basic Bank…

Foreign investors leaving shares for non-confidence Golam Mostafa Jibon: Foreign investors are leaving huge amount of bank shares due to lack of confidence as the country’s banking sector has been going through a multi-faceted crisis for a long time.Although, various benefits are being provided to the defaulters to reduce the…

Staff Correspondent: Despite Covid-19 pandemic, school banking witnessed huge responses from the students in 2021 as deposits with the banking accounts crossed Tk 2,200 crore at the end of December 2021.The central bank’s latest data shows that a total of Tk 2,216.9 crore was deposited with 28,25,992 school banking accounts…

Staff Correspondent: Bangladesh Bank (BB) has issued Bangladesh Mobile Financial Services (MFS), 2022 replacing the Bangladesh MFSRegulations, 2018 issued in July 2018 and its subsequent amendments.“As per Section 7A(e) and section 82 of the Bangladesh Bank Order, 1972 andSection 26 (cha) of the Bank Companies Act, 1991 Bangladesh Bank has…

Staff Correspondent: IFIC Bank of Bangladesh has informed the Dhaka Stock Exchange (DSE) that it is relinquishing ownership of Nepal-Bangladesh Bank (NBB) based in Nepal, sources of Bangladesh Bank (BB) and Ministry of Finance confirmed.Sarika Chowdhury, wife of Binod Chowdhury, a Nepalese millionaire, is buying a 41 percent stake of…

Staff Correspondent: Bangladesh Bank has given private banks one more month to introduce a minimum wage for officers and employees at the entry-level.The central bank has fixed a minimum salary of Tk 39,000 for general branch officers and Tk 36,000 for officers at the cash branches of banks. Banks have…