BB begins forex reporting as per IMF manual
Bangladesh Bank yesterday began publishing foreign currency reserves as per the International Monetary Fund’s BPM6 manual, in a move that will ensure that the country’s dollar stockpile is reported accurately.
A new era dawns in trade with India
Bangladesh, India to begin bilateral trade in rupee from July 11
Higher NPL burden for banking sector
The banking sector is burdened by a high non-performing loan (NPL) and will need to continue measures to beef up supervision and accelerate loan recovery, according to the Bangladesh Bank.
Forex reserve rises past $31b
The country’s foreign exchange reserves rose past $31 billion yesterday after three multilateral lenders provided $925 million to Bangladesh.
Extension of bank directors’ tenure: A huge blow to banking sector
Allowing directors to stay on for 12 years will deal a huge blow to the financial health of banks, which are already facing several crises, including a lack of corporate governance in recent years, say experts.
Tight monetary policy, but is it enough?
On the surface, the monetary policy appears to be tuned to the need of the hour: bring down inflation and conserve reserves. But it comes caving down on careful reading.
Can new monetary policy crush inflation?
The Bangladesh Bank may today raise its key interest rates to tame inflationary pressure but the attempt might go in vain since the monetary authority may not withdraw the interest rate cap on loans in a true sense.
11 banks facing a capital shortfall of Tk 33,575cr
Eleven banks in Bangladesh faced a collective capital shortfall of Tk 33,575 crore in March, up 9.3 per cent from a quarter ago, in a reflection of their worsening financial health caused by persisting irregularities and lack of governance, central bank data showed.
May 28, 2023
Default loans rise 9% in three months
It increased by Tk 10,954 crore to hit Tk 131,621 crore in March
May 18, 2023
Govt keeps borrowing big amounts from BB
The government has kept borrowing a hefty amount of funds from the Bangladesh Bank as commercial banks are unable to meet the financing requirement of the state because of the liquidity crunch.
May 16, 2023
Can falling imports alone ease stress in the economy?
Bangladesh’s trade gap and current account deficit have narrowed significantly in recent months but the positive developments might not prove enough to bring back stability to the economy.
May 14, 2023
BB’s dollar sales this FY go past $12b
The US dollar sold by the central bank has surpassed the $12-billion mark in the ongoing fiscal year as it has had to pump the American greenbacks into the market in order to clear import bills.
May 11, 2023
Financial account deficit goes past $2b
The deficit in Bangladesh’s financial account widened further in the first nine months of the ongoing fiscal year, an indication that the current instability in the foreign exchange market will continue in the coming months.
May 5, 2023
Reinvestment of earnings pushed FDI up in 2022
Foreign direct investment (FDI) in the country increased 20 per cent year-on-year to $3.48 billion in 2022 for a surge in reinvestment of earnings by foreign companies.
May 3, 2023
Taka keeps falling, forex reserves slip below $31b
The taka has lost its value further against the US dollar after the Bangladesh Bank sold the greenback at Tk 104.5 as the foreign exchange reserves keep falling.
May 3, 2023
Economic pressure deepens as export, remittance dip
Exports and remittances, two major sources of foreign currencies for Bangladesh, plunged in April, a bad omen for the economy as it deals with multiple challenges, including a dollar crisis, an elevated level of import costs and falling reserves.
May 2, 2023
Forex reserves fall below $31 billion
It hit $30.92b on April 30, down from $44.01b on same day a year ago
May 1, 2023
Demand for loans falls to 12-month low
Private sector credit growth in Bangladesh slipped to a 12-month low of 12.03 per cent in March, a development that may hurt GDP growth and job creation.
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