The interim government expects the country’s gross foreign exchange reserves to rise to $34.4 billion by the end of the fiscal year (FY) 2025–26, buoyed by strong remittance inflows, export performance, and budgetary support from development partners.
Despite repeated appeals from bank directors and top executives over the past month, the central bank held firm.
Govt asks postal department to take responsibility of the MFS provider
The central bank is likely to issue a circular in this regard today.
In what is seen as a landmark step toward restoring financial discipline, Bangladesh's interim government recently granted the central bank sweeping new powers to intervene in the troubled banking sector.
Globe Pharmaceuticals Group of Companies is set to sell its edible oil unit, Globe Edible Oil Ltd, to adjust bank liabilities.
Premier Bank paid Tk 10 crore to HBM Iqbal, the former chairman of the bank, for office space in one of his buildings that the private commercial lender did not use or rent.
State-owned, Islamic Shariah-based, and specialised banks have seen deeper deterioration in their financial positions, whereas private commercial banks and foreign banks remain on firmer ground.
Excess liquidity in the banking sector of Bangladesh continues to fall despite lower credit demand ahead of the national polls and higher interest on deposits offered by banks to lure savers.
The interest rate of treasury bills in Bangladesh has crossed a recent high of 10 percent, indicating that lending rates will rise further in the days ahead, according to bankers.
Although the banking sector in Bangladesh is facing multiple challenges, including an alarming amount of bad loans, Brac Bank has been able to strengthen its financial health by keeping its values at the core of every activity.
The country’s current account balance stood in positive territory in the first quarter of the current fiscal year due to a sharp slowdown in imports.
The government's expenses on interest payments rose 22.14 percent year-on-year to Tk 92,538 crore in the last fiscal year due mainly to a higher cost of borrowing.
No bankers and directors will be able to hold any post in the Shariah supervisory committee of banks as the Bangladesh Bank changes rules to make lenders more compliant and curb irregularities.
Premier Bank PLC is investing in building a robust digital infrastructure to make all financial services available at the fingertips of customers, said M Reazul Karim, managing director of the private commercial bank.
Bangladesh Bank yesterday issued letters of intent to Nagad Digital Bank and Kori Digital Bank, in a development that can substantially enhance people’s access to finance.
Bangladesh Bank is likely to give primary approval today for the formation of digital banks in the country.
Bangladesh is hopeful of receiving the second tranche of the IMF’s $4.7 billion loan programme in December as the authorities agreed to further monetary policy tightening, tighter fiscal policy and greater exchange rate flexibility.
