Bangladesh Bank on Wednesday asked the managing directors of six banks to explain why they took advantage of the volatility in the foreign exchange market to make profits breaking banking norms.

The Bangladesh Bank yesterday sought explanations from managing directors of six private banks citing their alleged involvement in taking advantage of the volatility in the foreign exchange market to make a super profit.

No money changer can now charge over Tk 1.5 against each US dollar while buying and selling the greenback.

The Bangladesh Bank today ordered banks to set a spread between the buying and selling rate of the US dollar in order to restore stability in the foreign exchange market.

The government today appointed new managing directors (MDs) at three state-run banks – Sonail, Agrani and Rupali.

Twelve banks accounted for 58 per cent of the total default loans in Bangladesh in June as irregularities show no signs of abating while existing bad debts have remained unrecovered in the absence of strong action.  

Defaulted loans in the country’s banking sector hit an all-time of high of Tk 125,257 crore after end of June of this year.

Bengal Commercial Bank awarded its best performing employees for achieving their business targets during the first anniversary campaign.

Mohammed Mahtabur Rahman has been re-elected as chairman of NRB Bank Ltd.

HSBC Bangladesh recently won the 2022 Asian Banking and Finance Awards for International Retail Bank of the Year for the second consecutive time and the Branch Innovation of the Year - Silver in Bangladesh.

NCC Bank Limited’s board has approved a decision to issue a Tk 500 crore non-convertible subordinated bond. 

Bangladesh Bank today asked six banks to transfer their treasury heads to human resource departments due to their alleged involvement in destabilising the country’s foreign exchange market.

The Bangladeshi taka has depreciated further against the US dollar, hitting Tk 95 on the interbank platform today.

This is the country’s second social loan principles (SLP)-based financing, the HSBC said in a statement.

As a partner bank, Premier Bank signed an agreement with SME Foundation to receive revolving funds under the Stimulus Package announced by the government for distribution among cottage, micro and small (CMS) entrepreneurs.

Banks can now show their highest limit of capital market exposure on the basis of the stock like instruments’ purchasing price of instead of their market value.

Bangladesh Securities and Exchange Commission (BSEC) is taking steps to launch a new board for start-ups so that they can raise funds from the stock market.

Bangladesh Bank yesterday injected $40 million into banks operating in the country in a bid to ensure stability in the local foreign exchange market.

Dhaka Bank recently signed an agreement with SME Foundation at the Pan Pacific Sonargaon Dhaka in the capital to disburse loans to the cottage, micro, small and medium enterprises at a concessional interest rate under the incentive package announced by the government.

AB Bank Ltd has elected director Khairul Alam Choudhury as the bank’s new chairman with effect from August 2, 2022.