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SMEs struggle due to high interest rates, tough loans
Alamgir Hossain, a small entrepreneur in the jute industry, recently applied for a loan of Tk5 lakh to expand his business. He was initially denied the loan and was required to provide three guarantors signatures, his business trade license, and various other documentsa daunting process for a small...
New default loan policy to jeopardise businesses
Bangladeshs defaulted loans are expected to exceed Tk 5 lakh crore, surpassing 30 per cent of total disbursed loans, if new regulations take effect in March. Businesspeople are urging the authorities to defer the implementation of the new default regulations by at least a year. According to the...
Millions of investors trapped in margin loans
Margin loans created massive turmoil in the stock market during the previous Awami League government. Over the years, millions of investors have suffered losses due to these loans. Syndicates engaged in market manipulation used multiple accounts both legitimate and anonymous to trap investors....
Defaulted loans threaten financial sector
The Finance Division believes that the countrys financial sector is at significant risk due to defaulted loans. According to sources the default rate stood at 6.12% in December 2011, and it surged to 16.93% by December 2024. Additionally, mismanagement and corruption in the sector under the...
Foreign loan commitments decreased by 67%
The Sheikh Hasina-led government has borrowed money more for unnecessary projects than necessary ones over the past 15 and a half year, creating pressure on the interim government to repay. Since the interim government took the power, it started revising projects. Therefore, the money flow has...
BB adopts new provisioning system to tackle non-performing loans
Bangladesh Bank (BB), in a bid to mitigate the severe liquidity crisis and prevent bankruptcies stemming from non-performing loans (NPLs), has introduced a new provisioning model in compliance with international financial standards. The move aims to ensure banks are better equipped to handle...
No gains from BRICS bank even after three years
Bangladesh has not yet received any assistance three years after joining the BRICS bank. Bangladesh became a member of the New Development Bank (NDB), led by BRICS, in 2021. However, apart from Brazil, Russia, India, China, and South Africa, no other countries have received loan approvals from this...
Crisis deepens as debt discipline remains absent
Bangladesh is grappling with a mounting financial crisis, marked by escalating government debt and surging defaulted loans. The governments total debt now stands at an alarming Tk 20.49 trillion, with domestic debt comprising Tk 10.20 trillion and foreign debt totaling Tk 10.13 trillion, equivalent...
Auto financing in Pakistan rises amid interest rate cuts
Auto financing witnessed a slight increase, reaching $847.63 million in December 2024 from $844.56 million in November, according to data from the State Bank of Pakistan (SBP). This marks a reversal of the negative trend seen in November, when financing declined from $850 million in October. For...
Businessmen backed against the wall
Resentment among businessmen is mounting as they feel increasingly cornered by the challenges facing the economy. With no clear guidance to revive trade and business, many have turned to Bangladesh Bank Governor Ahsan H. Mansur, presenting a nine-point set of demands aimed at easing their burden....
Defaulted loans could exceed Tk 6 lakh crore
Bangladesh Bank spokesperson Husne Ara Shikha said information on defaulted loans was hidden in previous governments regime, now efforts are being made to reveal it. It is said that the defaulted loans are worth 4 lakh crore taka or more. But she believes that if the total information comes to...
Amount of defaulted loans may exceed 6 lakh crores
Husne Ara Shikha, executive director and spokesperson of Bangladesh Bank, said that earlier the information on defaulted loans was hidden, but now efforts are being made to reveal all the hidden information. According to the information, the defaulted loans are of Tk 4 lakh crores or more. If...
State-subsidized loans at 3% interest for Nepalese startups launching in March 2025
Nepalese startups will soon benefit from subsidized loans, with disbursement beginning in March 2025 under the Startup Enterprise Credit Operation Work Procedure. Eligible startups can borrow up to $18,800 (equivalent to Rs2.5 million) at an annual interest rate of 3%, aiming to boost innovation...
10 Banks in Crisis, culprits remain out of reach
The banking sector in Bangladesh is grappling with severe turmoil, plagued by a series of irregularities, including loan scams, defaults, and currency laundering. Among the institutions most affected, 10 banks are in particularly fragile conditions, with the culprits behind these financial crimes...
Bad loans in banking sector hits Tk6.75 lakh crore: White Paper
The amount of bad loans in the banking sector has been increasing rapidly in recent years, as reflected in data from Bangladesh Bank (BB), according to the recently released White Paper, reports UNB. In June 2021, BB data showed the defaulted loan rate was 7.9 percent. By the end of June this...
US helps Poland’s defense with $4 billion loan
The United States has announced an additional $4 billion Foreign Military Financing (FMF) loan guarantee to Poland, bringing the total U.S. support for Polands defense to more than $11 billion over the past two years; the state department of the USA stated this on Thursday (Washington time)....
Entrepreneurs concerned as NPLs likely to increase
The revised loan classification regulations have deepened concerns among entrepreneurs. Over the past six months, the private sector has seen no new investments, while instability continues to grip the financial sector. In this context, the International Monetary Funds (IMF) latest directives have...
Traders face escalated risk of default once again
Industrial production has sharply declined, and export income has been severely disrupted, bringing business and trade to a near standstill. Multiple pressures, including political instability, have contributed to this economic downturn. Among these challenges, a key factor is the reduction in the...