Bank & Finance

Staff Correspondent: The government yesterdayreduced the interest rates on all types of savings certificates.Under the new rules, those who have invested more than Tk15 lakh in five-year savings certificates, will get a 10.30% profit at the end of the term.If the investment is more than Tk30 lakh, the profit rate…

Staff Correspondent: The Association of Bankers Bangladesh (ABB) yesterday slammed reports containing “misleading headlines and information” about its meeting with Bangladesh Bank Governor Fazle Kabir.According to ABB, the reports published in media outlets allegedly misrepresented the nature of the meeting that took place among BB Governor and ABB representatives, reads…

Says BB governor Staff Correspondent:The financial sector needs further improvement in governance, said Bangladesh Bank Governor Fazle Kabir.He made the remark while speaking as the chief guest at an event organised yesterday to honour the top taxpayers of the country.Thirty banks and financial institutions of the country were honoured as…

Staff Correspondent: Bangladesh Bank has sent a letter to the Ministry of Commerce asking them to appoint auditors to investigate the finances of nine e-commerce platforms that are facing allegations of financial irregularities and cheating customers.“We told the ministry that we need a third party to audit these companies to…

Staff Correspondent: Banks have been asked not to open trust cum settlement accounts (TCSAs) under Nagad Limited unless it gets approval from the postal department and the Bangladesh Bank (BB).The central bank issued a letter to banks on September 2 in this regard.Nagad is the brand name of the BPO’s…

Staff Correspondent: Structural reforms of loan disbursementprocess, less documentation process, establishing a specialized SME bank, acomprehensive SME database, policy reforms, bank-SME good relation, cash flow-based loan sanction, considering working capital loan as term loan andconsidering large and small investors equally will pave the CMSMEs toflourish as the sector is the…

The cabinet has given final approval to the draft of Public Debt Bill, 2021 to make the existing law time-befitting with a provision of ensuring punishment in case of obtaining debt with false information.The approval came from a weekly meeting held virtually with Prime Minister Sheikh Hasina in the chair…

Industry Desk: The New Development Bank (NDB) – established by BRICS (Brazil, Russia, India, China and South Africa) in 2015 – has admitted Bangladesh as a new member of the organisation.The NDB Board of Governors took this decision in a meeting held on 20 August 2021.NDB President Marcos Troyjo said,…