Central bank finally adopts a market based exchange rate
“If the market became unstable due to market-based exchange rate, we will intervene,” said BB Governor Ahsan H Mansur.
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.
The need to empower Bangladesh Bank has been overdue
The government and Bangladesh Bank can take temporary control of any scheduled bank if needed by issuing share transfer orders in line with the Bank Resolution Ordinance 2025.
Rising capital shortfall not a good sign
The Bangladesh Bank (BB) has applied to the finance ministry seeking a one-month extension after a majority of banks, including listed lenders, failed to finalise their annual financial statements by the April 30 deadline.
Banks could face financial risks unless immediate climate action is taken, said the Bangladesh Bank (BB) in its first climate stress testing report published yesterday.
It, however, directed banks to ensure that examination centres are duly authorised by relevant authorities abroad.
The Bangladesh Bank yesterday dissolved the board of directors of ICB Islamic Bank considering the interests of depositors, according to an official letter.
Bangladesh’s Islamic banking sector would be completely restructured, he said.
The Bangladesh Bank (BB) yesterday extended an additional Tk 2,500 crore in emergency liquidity support to Social Islami Bank and First Security Islami Bank without any security to help them address financial crises.
The Bangladesh Bank (BB) today reconstituted the board of directors of three private commercial banks.
The Bangladesh Bank has suspended the exchange of fresh notes for the public ahead of the upcoming Eid-ul-Fitr.
Bangladesh Bank (BB) today relaxed the down payment requirements for exit facilities on defaulted loans of closed or loss-incurring companies.
Bangladesh Bank (BB) has reduced the daily cash reserve requirement (CRR) for banks to enable them to manage liquidity more easily.
Bangladesh Bank Governor Ahsan H Mansur’s comment that some ailing banks may face closure drew flak yesterday.
The Bangladesh Bank will be able to sell or liquidate weak banks by forming bridge banks—financial institutions that temporarily take over a failed bank, according to the draft Bank Resolution Ordinance.
With the utilisation rates of green funds remaining stubbornly low, Bangladesh Bank can evaluate the scope of prefinancing green projects.
