Bank & Finance

Staff Correspondent: Bangladesh Bank’s ‘deterioration’ has been agreed upon by the former governor Dr. Mohammad Farasuddin. He said, it hurts when I hear about the decline of the central bank. Many officers are quitting their jobs. Irregularity is happening, but you can’t take role in the irregularity.The former governor of…

Staff Correspondent: The government is planning to provide non-monetary incentives along with existing monetary incentives to increase remittance flow through formal channels. According to related sources, the government is going to take this initiative to bring the foreign currency earned by the expatriates to the official channels to increase the…

If comprehensive reform avoids Farhad Chowdhury: Bangladesh’s economic stability is currently under threat due to declining tax revenue as a percentage of government expenditure, rising debt burden and widening fiscal deficit. If certain exemptions are phased out, an additional revenue of Tk 60 thousand crore is possible in the next…

Staff Correspondent: Remittance rose 21% in April for Eid Remittance inflow to Bangladesh rose 21.31 percent year-on-year to $2.04 billion in April thanks to Eid-ul-Fitr as the country’s migrant workers typically send more money home ahead of the maDjor religious festival for Muslims.Meanwhile, industry insiders said the remittance inflow increased…

Staff Correspondent: Donors and the Asian Development Bank (ADB) have agreed to a replenishment of $5 billion for ADB’s Asian Development Fund (ADF) 14 and Technical Assistance Special Fund (TASF) 8. The commitment was made during ADB’s 57th Annual Meeting being held at Tbilisi, Georgia from 2-5 May.The following developing…

No benefit to defaulters IMF has asked to know about the steps taken by the central bank to disclose complete information on defaulted loans, not giving any benefits to defaulters and prevent money laundering Mahfuja Mukul: International Monetary Fund (IMF) worried by failure to meet reserve targets. Bangladesh Bank is…

Staff Correspondent: In August 2021, foreign exchange reserves crossed the highest mark of $48 billion in the country’s history. This record was made during the tenure of former Bangladesh Bank Governor Fazle Kabir. However, Fazle Kabir himself could not hold the reserve. It started to decline during his tenure after…

Even increasing interest rate Farhad Chowdhury: Interest rates are continuously increasing in the country’s banking sector. But it has no effect on inflation. Inflation remained close to 10 percent, exceeding the target of 6 percent.Bangladesh Bank has adopted contractionary monetary policy to control high inflation. At the same time interest…

Staff Correspondent: The flow of remittances from all major labor markets of the country is decreasing at an alarming rate. The only exception to this is the United Arab Emirates (UAE). In the first nine months (July-March) of the current fiscal year, expatriate income from the UAE came to the…