Md Mehedi Hasan

As local borrowing costs hover high, some of the country’s largest conglomerates are turning to foreign lenders for financing, and Bangladesh Bank (BB) is moving on multiple fronts to make that path easier.

Banks are now trading the US dollar between Tk 122.70 and Tk 123.75

The US dollar has climbed to Tk 123 in the inter-bank market as stronger demand for foreign currency coincides with slower inflows of remittances and export earnings

Mobile financial services changed how Bangladesh sends money and makes payments, but market competition has failed to keep pace

Bangladesh Bank has granted President Mohammed Shahabuddin a special exemption from withdrawal restrictions imposed on depositors of five troubled banks, approving a request to withdraw Tk 20 lakh from his account at Global Islami Bank.

BRAC Bank PLC, founded in 2001 under the leadership of Sir Fazle Hasan Abed to serve the “missing middle” -- small and medium enterprises (SMEs) that had outgrown microfinance but lacked access to formal banking -- has grown into one of Bangladesh’s leading financial institutions.

BB banks on legal reforms, tighter supervision and global standards

Economists question whether monetary tightening can succeed while the central bank continues to inject funds into banks