Banking

BB driving with its eyes closed amidst the economic tempest

Without data, companies are deaf and blind, it is often taught in business schools.
BB almost doubles funding for SMEs’ refinance schemes

The central bank almost doubles the volume of funding of three refinance schemes for small and medium enterprises (SMEs) in order to protect the marginal entrepreneurs from the ongoing economic fallout from the coronavirus pandemic.
Sonali Bank branch locked down after official tests Covid-19 positive

Sonali Bank has locked down its Shilpa Bhaban Corporate branch in Dhaka after an official of the branch tested positive for Covid-19.
Nimble-footed Reserve Bank of India shows Bangladesh Bank the way

Adversity brings out the best in man, William Shakespeare once said.
BB extends banking operations nationwide

The Bangladesh Bank decides to extend the banking operation across the country during the ongoing shutdown.
Coronavirus outbreak: BB sets insurance coverage for bankers serving clients

Bank employees will be entitled to a health insurance coverage of Tk 5 lakh to Tk 10 lakh if they are infected by coronavirus while delivering services to customers, according to a notice issued by Bangladesh Bank.
Banks asked not to charge late fees for credit cards

Bangladesh Bank yesterday asked lenders not to impose any late payment fees on credit cardholders, who are finding it difficult to clear the bills due to the ongoing movement restriction and short banking hours.
The 9pc lending rate from next month seems unlikely

Banks’ capacity to provide loans at 9 per cent interest has shrunk even before the government-fixed ceiling is implemented as both individuals and corporate institutions are withdrawing deposits to protect themselves from the ongoing economic fallout of the coronavirus pandemic.
Taming coronavirus rampage: BB rises to the occasion

In an unprecedented move, the central bank yesterday said it will buy Treasury bills and bonds from banks and non-bank financial institutions (NBFIs) to tackle the impending economic slowdown brought on by the coronavirus pandemic.
Janata Bank viva voce exams to continue despite coronavirus fears

Amid aspirants’ fears over coronavirus, the Bankers' Selection Committee Secretariat is taking viva voce for the post of ‘Assistant Executive Officer (AEO)’ of Janata Bank Limited.
Would monetary policy still be useful after 9pc interest rate?

The big question on economists’ mind is, how will the 9 per cent ceiling on bank lending rates impact the conduct of monetary policy?
BB’s bailout package for bourse arrives at last

The central bank yesterday announced a fresh credit support for banks with a view to giving a boost to the ailing capital market.
The billion-dollar hit job

The way unknown hackers hatched plans to steal money from the Bangladesh Bank’s reserves with the New York Fed using the most sophisticated banking and payment channels as well their near-perfect preparation and timing will render many detective stories and Hollywood movies average.
New ADB President Masatsugu Asakawa assumes office

The 10th President of the Asian Development Bank (ADB) Masatsugu Asakawa assumed office today.
PM expects banks to implement single digit interest rate from April

Prime Minister Sheikh Hasina expresses hope that the banks will implement the single digit interest rate from April for the sake of the speedy industrialisation and investment.
Reserve Bank of India Feb rate cut on a knife’s edge

A February Reserve Bank of India rate cut is on a knife’s edge, with just under half of economists polled expecting easing at that meeting, and is highly likely by the middle of next year, according to a Reuters poll.
BB moves to curb trade-based money laundering

Bangladesh Financial Intelligence Unit (BFIU) yesterday issued guidelines for banks to prevent money laundering in the name of export and import.
MTB opens bank museum to showcase its 20-year journey

Mutual Trust Bank (MTB) yesterday opened a bank museum to showcase its 20-year journey and achievements.
NRB Bank gets new AMD

Mamoon Mahmood Shah has recently joined NRB Bank as additional managing director.
NRB Bank gets new AMD

Mamoon Mahmood Shah has recently joined NRB Bank as additional managing director.
Brac Bank gets new credit risk head

Ahmed Rashid has recently joined Brac Bank as head of credit risk management.
AB Bank sets sights on restoring lost glory

AB Bank Ltd has stepped up efforts to cut non-performing loans and improve corporate governance as the country’s first private commercial bank desperately seeks to become one of the top lenders again.
BB revokes remittance award handed to loan defaulter

The central bank yesterday revoked a remittance award given to Shahjahan Bablu three days ago after his name was found on the list of loan defaulters of Bangladesh Commerce Bank Ltd (BCBL).
One Bank reappoints managing director

M Fakhrul Alam has recently been reappointed managing director of One Bank, effective from October 8.
Loan recovery slows in Q2

Banks’ loan recovery momentum slowed down in the second quarter of 2019 as many defaulters showed unwillingness to pay back loans to enjoy the central bank’s relaxed rescheduling facility.
EXIM Bank to monitor project implementation

India wants its Exim Bank to monitor the projects it is financing in Bangladesh.
Govt redefines hard term external loans

The government has decided to consider foreign loans as hard-term ones if the grant element is less than 25 percent, down from the 35 percent it currently takes into account, in a reflection of the country’s growing economic power.
Brac Bank to get $30m from British financier

CDC Group, the UK government’s development finance institution, yesterday announced to invest $30 million (over Tk 25 crore) in Bangladesh’s Brac Bank.
New payment app Dmoney launched

Local financial technology service provider Dmoney announces its commercial operation aiming to create a solid position of the digital financial service in the country.
StanChart launches Korea-Bangladesh desk

Standard Chartered Bangladesh (SCB) on Thursday launched the Korea- Bangladesh desk to help Korean businesses invest and operate in Bangladesh. A guidebook titled “Doing business in Bangladesh”, offering information in both Korean and English languages, was also launched at