Bangladesh Bank

Govt’s Aggressive Bank Borrowing: Private sector may face credit crunch

The government is going to exceed its annual limit for bank borrowing within the first half of this fiscal year due to poor revenue collection, and this could give a credit crunch for the private sector to deal with.
Credit Card Transactions Abroad: BB revokes rules on prior approval

Bangladesh Bank yesterday walked back on its stance of forcing international credit cardholders to take prior approval from banks for every cross-border transaction, as better sense prevailed amongst the decision makers of the regulatory body of the country’s financial system.
BB asked to form committee to find out loopholes in lending, loans recovery

The High Court (HC) has ordered Bangladesh Bank to form a nine-member committee with experts of the banking sector to find out loopholes in lending and recovery of loans.
BB caves in to Beximco again

Beximco Ltd got its way, yet again. The central bank went out of its way to accept Beximco’s request for rescheduling demand loan of Tk 430.05 crore, and in so doing, created a moral hazard for the banking sector.
SC stays HC order on halting privilege for loan defaulters

The Supreme Court stays till July 8 the High Court orders that halted Bangladesh Bank’s circular allowing defaulters to reschedule their loans with a repayment period of up to 10 years and get further loans.
BB steps in to ease Eid liquidity crunch

The central bank yesterday injected Tk 2,300 crore into the money market to ease liquidity crunch in the banking sector amid the cash withdrawal spree in the lead up to Eid.
New banks to join saturated market

Bangladesh Bank (BB) has given approval for three new banks to be floated at a time when the banking sector is both saturated and stressed due to nonperforming loans (NPLs) reaching dangerous levels.
Charity swindlers caught

Sacked customs official Helaluddin used to identify himself as a social worker.
BB Heist: First conviction, after 3 years

A court in the Philippines yesterday convicted a former branch manager at Manila-based Rizal Commercial Banking Corp (RCBC) of money laundering, in the first conviction over the Bangladesh Bank reserves heist in which $81 million was stolen nearly three years ago.
$101M BB Heist: Dhaka to claim damages from Fed by Jan 15

Bangladesh will sue the Federal Reserve Bank of New York over the money stolen during the 2016 cyber heist -- one of the biggest cyber crimes in the world -- Finance Minister AMA Muhith said yesterday.
Who is BB fooling?

Two things come easy in Bangladesh -- getting big bank loans and blissfully failing to repay. The money in the vaults seems to be the easiest prey today.
Scams, failures skipped, dev highlighted

The Bangladesh Bank has published a report on the banking sector development over the last 10 years ahead of the national elections,
BB approves Community Bank

The Bangladesh Bank yesterday gave its final nod to a commercial bank and asked three others to produce documents required to obtain licences.
AnonTex riding on BB favours

Bangladesh Bank has given AnonTex, which took more than Tk 5,500 crore from Janata Bank through serious irregularities, a controversial permission to take more loans from other state-owned banks as well, reschedule its loans and valuate its assets afresh to make it look like a healthy company.
Collapse of banks' corporate governance

Nonperforming loans (NPLs) jumped by Tk 15,037 crore in the last six months alone bringing the total amount to Tk 89,340 crore in June of this year. This shows just how little control Bangladesh Bank (BB) actually exercises over state-owned banks and their management.
Banks to remain open on Saturday

Bangladesh Bank directs banks to keep their selective branches open on August 18 (Saturday), a public holiday, to facilitate payment of salaries, wages and festival allowances to garment workers ahead of Eid-ul-Azha.
Central bank detects Tk 4,000cr laundering

Bangladesh Financial Intelligence Unit has detected cases of money laundering involving Tk 4,000 crore and is carrying out a thorough probe into it, Bangladesh Bank Deputy Governor Abu Hena Mohd Razee Hassan said yesterday.
Gold in BB Vault: Discrepancies raise question

Bangladesh Bank recorded some of the gold in its vault as low-grade ones although an investigation by the Customs Intelligence and Investigation Directorate (CIID) found that they were of superior quality.
All gold kept in BB vault secure

State Minister for Finance and Planning MA Mannan yesterday claimed that all gold kept in the Bangladesh Bank's vault is secure.
Unsettled Lcs, ghostly import

The Bangladesh Bank has detected some gross violations in foreign exchange transactions that have raised concerns about money laundering.
Banks now to get cheaper BB funds

Bangladesh Bank has made funds cheaper for all banks by reducing its repo rate by 75 basis points to 6 percent.
BB orders watch on mobile money transfers

To prevent question leaks from marring the Higher Secondary Certificate (HSC) examinations, Bangladesh Bank orders for a close watch on mobile financial transactions.
BB launches mobile app to hear complaint

Financial Integrity and Customer Services Department (FICSD) of Bangladesh Bank (BB) introduce mobile app to ease the procedure of filing compliant of clients.
Act now to save banks from graft

Noted citizens, including economists and former caretaker government advisers, yesterday urged the government to ensure punishment of perpetrators of crimes in the banking sector.
Cash incentive rules flouted

Kuliarchar Sea Foods, a Cox's Bazar-based fish exporter, withdrew about Tk 19 crore in cash incentives from Mercantile Bank last year, violating government rules.
BB seeks to curb excessive lending

Bangladesh Bank yesterday announced its new monetary policy for January-June with a target to tighten money supply and curb excessive lending, which is likely to raise interest rates and hurt businesses and consumers.
Recruitment tests of 8 state-run banks cancelled

Amid protest of the candidates, Bankers’ Selection Committee cancels the recruitment tests for eight state-run banks.
Bank recruitment test: BB calls emergency meeting amid protest

Bangladesh Bank calls an emergency meeting tomorrow following protests over mismanagement in the recruitment test of the eight state-run banks a few days ago.
SC upholds BB decision to remove NRBC Bank's MD

The Supreme Court upholds the Bangladesh Bank decision to remove the Managing Director of NRB Commercial Bank, Dewan Mujibur Rahman.
Left-leaning parties nonsense: Muhith

Finance Minister AMA Muhith criticises the left-leaning political parties for their programme of laying siege to Bangladesh Bank protesting irregularities in the banking sector.