Md Fazlur Rahman

Sustainable finance on the rise

Sustainable finance extended by banks rose nearly 40 percent year-on-year to Tk 35,387 crore in the first quarter of 2023 as lenders keep disbursing a higher volume of loans to eco-friendly businesses and industries, official figures showed.

4w ago

Banks’ forex balances on the rise

Gross foreign exchange balances held by commercial banks in Bangladesh rose to a 19-month high of $5.53 billion in June, owing to lower imports and higher export and remittance earnings, central bank data showed.

Formal remittance outflow stood at $137m in 2022

Foreigners working in Bangladesh sent home $137 million in 2022, World Bank data showed although analysts believe the exact figure would be much higher since many people from other nations are employed in the country without valid permits.

Channel more financing to SMEs

At least half of all credits disbursed by banks and other financial institutions in Bangladesh should go to small and medium enterprises (SMEs) since a significant of them still don’t have access to the formal credit system despite recent improvements, said a noted economist.

Inflation climbs to 12-year high

Average inflation in Bangladesh surpassed the government’s target for the just-concluded fiscal year by a large margin as higher prices of goods and services continue to linger for the economic crisis at home and abroad.

New fiscal year, old challenges

When a year passes, those who had a good time look forward to continuing the momentum while those who had struggled to keep their head above water might breathe a sigh of relief.

Remittance rebounds

Remittance rebounded in Bangladesh in the outgoing financial year, extending some breathing space to an economy struggling to keep its head above water amid the lingering crisis at home and abroad.

Inflationary pains for common people to persist

Like in the outgoing financial year, the common people in Bangladesh will continue to suffer from higher consumer prices in 2023-24 as the factors behind the elevated level of inflation are unlikely to change dramatically.

June 2, 2023

No remedy for default loans, forex crisis

Though higher default loans and declining foreign currency reserves have been identified as the biggest risks to the economy of Bangladesh in recent times, Finance Minister AHM Mustafa Kamal yesterday fell short of coming up with any definitive measure to address the twin issues save offering some words of hope.

June 2, 2023

Universal pension scheme to be rolled out in FY24

The government plans to roll out the universal pension scheme in the next fiscal year.

June 1, 2023

Universal pension scheme to be rolled out in FY24

The government plans to roll out the universal pension scheme in the coming fiscal year.

June 1, 2023

Tax subsidy costs the nation Tk 1.78 lakh crore in FY23

The total amount of tax subsidies given in the form of rebates, discounts, exemptions and reduced rates will be Tk 1,78,241 crore in the current financial year.

June 1, 2023

Electronic transfer of all social scheme funds on cards

The government will bring the payments of all cash-based social safety net programmes under the electronic fund transfer system from the coming fiscal year.

June 1, 2023

Carbon tax imposed on owners of multiple vehicles

Owners of more than one car will face an environmental protection surcharge from 2023-24 as the government looks to discourage the use of vehicles in a bid to curb environmental pollution.

June 1, 2023