- Ukraine says Russia has launched an ICBM in an attack
- No artificial crisis be allowed in food supply chain: Bashir
- Nasir Uddin appointed as new CEC, along with four others
- Garment workers block road in Gazipur protesting
- Dr. Yunus advocates for a country where people hold ultimate power
- New DMP Commissioner Sazzad Ali takes charge
- Shakib hints he might be available for Windies ODIs
- Robert Pattinson cast in Christopher Nolan's next film
- Ex-MP Shahjahan arrested
- South Korea donates $2mn to support WFP’s Rohingya food aid in Bangladesh
- Barrister Suman shifted to Habiganj jail
- Bhutanese Ambassador and BNP leader Fakhrul discuss SAARC revival
- Sohanur Rahman honored with YAS24 Award in Geneva
- Russia to provide 30,000 MT of fertilizer to Bangladesh free of charge
- Dollar stagnates as market evaluates Trump policies and fed outlook; Bitcoin soars
- US wants human rights respected in Bangladesh: Spokesperson Miller
- 'Touch Messi, and it’s a foul; we get nothing'
- ‘Gangaburi’ concluded celebrating national heritage afloat
- Is too much calcium from supplements risking your health?
- Rickshaw drivers block railway line, disrupt communication with Dhaka
BB issues guidelines for operations of business in country by JVCA
Bangladesh Bank (BB) has issued guidelines for operations of business in Bangladesh by Joint Ventures or Consortiums or Associations (JVCA) having foreign partner (s) in order to make the process more transparent and more accountable, reports BSS. The central bank in a circular issued on...
Bangladesh receives $1.25bn remittance in 1st 16 days of Nov
Some $1.25 billion in remittances has been received during the first 16 days of November. At an exchange rate of Tk 120 per dollar, this amounts to approximately Tk 15,062 crore in Bangladeshi currency. Bangladesh Bank (BB) released a report on this matter on Sunday. According to the central...
Receiver appointments deepen industry crisis
There are numerous precedents for appointing receivers in industrial establishments in the country in the aftermath of various events. However, unfortunately, in almost every case, the outcome has been unfavorable. Many once-established industrial groups have turned into moribund enterprises after...
Country's default loans stand at Tk 2,85,000 crores
Non-performing loans (NPLs) in Bangladeshs banking sector stood at Tk 2 lakh 84 thousand 977 crores at the end of September this year, which is 16.93 percent of the total disbursed loans. Indeed, this is the highest ratio of disbursed loans to bad loans in the last 16 years. An updated report of...
Businesses scuffle amid rising interest rates
The business sector in Bangladesh is grappling with a crisis due to successive increases in loan interest rates. Rising costs have stalled investments, creating widespread challenges. Business leaders point out that while consumer loan rates are typically raised globally to curb inflation, in...
Govt's bank loans reach Tk 59516 crore in first quarter of fiscal year
To cover the budget deficit, the government borrowed Tk 59,516 crore from the banking system in the first four months of FY 2024-25, with a significant portion directed to repaying debt to Bangladesh Bank. A confidential report from Bangladesh Bank reveals that the Ministry of Finance raised Tk...
Interim government confirms no plans to shut down businesses
The interim government has assured the public that no business establishments in the country will be closed, emphasizing that businesses will remain operational. Government officials have reiterated their commitment to supporting the economy by fostering investment and creating job opportunities....
Bangladesh Bank restructures board
Bangladesh Bank (BB) has restructured its Boardof Directors by adding three new members. The development came through a board meeting held today at the BBheadquarters in the city, said Husne Ara Shikha, BB Executive Director andspokesperson, after the meeting, reports UNB. The three new...
Entrepreneurs targeted by resentment
The Bangladesh Bank or the Financial Intelligence Unit (BFIU) cannot appoint a receiver to any business entity on its own. If a receiver needs to be appointed, it requires a lengthy process. However, in recent days, several media outlets have reported that receivers have been appointed to 10...
No liquidity crisis, Tk 5,585cr infused to 7 banks: Bangladesh Bank
Bangladesh Bank has reassured the public, stating that there is no liquidity crisis in the banking sector and that depositors funds remain safe and secure. At a press briefing on Wednesday at the central bank headquarters, Husneara Shikha, Executive Director and Spokesperson of Bangladesh Bank,...
Decline in LC opening and settlement
In the latest quarterly report, Bangladesh Bank (BB) has revealed a decline in the opening and settlement of letters of credit (LCs) during the first quarter of the current financial year, spanning July to September. The report indicates that the total number of LCs opened fell by approximately 7...
Cyber attacks on banks rise: Bangladesh Bank
Bangladesh Bank has reported a troubling rise in the incidence of cyber attacks on the countrys banks. In light of this, banks and financial institutions have been urged to implement various precautionary measures. In a letter, S.M. Tofayel Ahmad, Additional Director of the Information and...
Governor takes chair of the SAARC Finance Network
Ahsan H. Mansur, the Governor of Bangladesh Bank, has assumed the role of Chairperson of the SAARC Finance Network. He was appointed to this position during the 46th SAARC Finance Governors Group Meeting held in Washington, D.C. on October 24, for a term of one year. He takes over as Chair...
Summit launders millions of dollars under Faruk Khan’s patronage
Summit Group founder Muhammed Aziz Khan allegedly smuggled millions of dollars out of Bangladesh under the patronage of his brother Awami League presidium member Muhammad Faruk Khan over the last 15 years. Aziz Khan has become Singapores 41st richest man with wealth worth $1.12 billion amassed...
BB finds irregularities at NRBC Bank, imposes Tk5 lakh fine
Bangladesh Bank (BB), the central bank of the country, has found serious irregularities at NRB Commercial (NRBC) Bank PLC, including suspicious transactions, misleading information about an entrepreneur directors identity and discrepancies in shareholding. Following that BB has fined the private...
Tk 111 crore on paper, Tk 500 crore in reality
The Anti-Corruption Commission (ACC) is investigating former Finance Minister AHM Mustafa Kamal, also known as Lotus Kamal, over discrepancies in reported assets. The ACC has identified Tk 111 crore in assets on paper, but believes the true value could reach Tk 500 crore. To support its inquiry,...
U.S. and World Bank to aid Bangladesh's private sector: Governor
The United States State Department has expressed interest in understanding the trajectory of public-private partnerships in Bangladeshs economic development and the ongoing recovery process. The U.S. government is poised to offer policy support to bolster this sector, while the World Bank has...
Bank employees also have to file tax returns: BB
Just like government employees, bank officials and staff in the four city corporations of Bangladesh are now required to submit their tax returns online, reports UNB. The Banking Regulations and Policy Department of Bangladesh Bank gave the instruction on Wednesday. Referring to a special...
Banking sector flush with Tk 1.90 Lakh crore in excess liquidity
The banking sector in Bangladesh, once facing a liquidity crisis, is now seeing a surplus, holding Tk 1.90 lakh crore in excess liquidity, according to the Bangladesh Bank (BB), reports UNB. This shift is being attributed to a rise in depositor confidence following the recent political changes...
$1.53 billion in remittances in first 19 days of October
In the first 19 days of October, Bangladesh expatriates sent home remittances totaling $1.53 billion, equivalent to Tk 18,391 crores, according to the Bangladesh Bank (BB). The exchange rate used was Tk 120 per dollar. Bangladesh Bank (BB) revealed this information on expatriate income on...
BB simplifies forex rules
Bangladesh Bank (BB) has simplified foreign exchange rules through three separate circulars, allowing banks to remit different types of payments abroad without its approval. The rules will apply to banks making payments to accounts that handle lease rentals by airlines incorporated in...
$986 million in remittances received in first 12 days of October
Bangladeshi expatriates have sent US $986 million in remittance in the first 12 days of October, showing an upward trend of inward remittance flow in the legal channel, reports UNB. According to the latest update of the Bangladesh Bank (BB), the expatriates have sent $8.22 crore in the country...