• Thursday, October 23, 2014

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Commercial Banks

Sales of savings tools soar on high interest rates

Sales of savings tools soar on high interest rates

Net sales of savings instruments rose almost 14 times in the first eleven months of the just-concluded fiscal year, as investors were lured in by government interest rates as high as 5 percentage points larger than those offered by commercial banks on term deposits.   The government sold Tk 10,018 crore worth of savings...

Banks' stock exposure to be capped from now

The government will start its efforts to bring banks' stockmarket exposure down to the permissible limit two years before the schedule of 2016, in keeping with the pledges made to the International Monetary Fund. The amended Banking Companies Act (BCA), which was passed in July 2013, stipulates that banks cannot invest more than 25 percent of their total capital in stocks. However, the central bank gave them until July 2016 to bring down their exposure, as the government did not want...

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