Bank & Finance

Staff Correspondent: The Bangladesh Merchant Bankers’ Association (BMBA) sought a special fund of Tk 10,000 crore to overcome liquidity crisis in the capital market.The BMBA has urged to provide fund assistance on easy terms through the Capital Market Stabilization Fund (CMSF) for a period of 5-7 years.The organization sent a…

Staff Correspondent: The Bangladesh Bank asked all the scheduled banks to be cautious about opening letters of credit (LC) and to stop transactions through the SWIFT system with the Russian banks that have been sanctioned over the Ukraine invasion.On Saturday, the western countries suspended a number of Russian and Belarussian…

Many insurers haven’t CEO for more than 2-yrs Mahmuz Emran: There is still an image crisis in the country’s insurance sector. The sector did not develop as expected due to various reasons. Even after that, the government has approved one new insurance company after another. Most of these politically sanctioned…

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…