central bank | The Daily Star
  • Bangladesh Bank

    Bank scams happen when regulator sleeps

    The chief of Anti-Corruption Commission has come down hard on the role the central bank has played over the last several years when it comes to tackling graft in banks.

  • Do we really need a central bank?

    Pet doors are small portals at the bottom of doors to let pets move in and out of the house. Sir Isaac Newton once made one big hole for a cat and one small hole for its kittens in the same door.

  • Central Banks in the dock

    On November 11, 1997, the Bank of England took a big step toward independence, courtesy of the second reading in the House of Commons of a bill amending the Bank Act of 1946. The bill gave legislative affirmation to the decision,

  • Farashuddin wants further probe

    The government should carry out further investigation to find out whether the suspected Bangladesh Bank officials were really involved in the $101 million cyber heist, says Mohammed Farashuddin, head of the three-member body that probed the theft.

  • CID finds 20 foreigners’ link in BB cyber heist

    Bangladesh's Criminal Investigation Department (CID) claims they found 20 foreigners involved in cyber heist of US$ 101 million from Bangladesh Bank's Federal Reserve Bank account, says they have found proof of negligence by central bank staff.

  • Confusion, panic order of the day

    Confusion and panic was the order of the day at the Bangladesh Bank yesterday, a day after its governor Atiur Rahman stepped down and two deputy governors were removed hastily amid strong criticism over the central bank's handling of the $101 million cyber theft.

  • Muhith fumes at central bank

    Finance Minister AMA Muhith yesterday said he would take action against Bangladesh Bank for keeping him in the dark for more than a month about the theft of $101 million from the BB account with the New York Federal Reserve Bank. The central bank came to know about the incident two days after cyber thieves stole the money from the BB account on February 4 midnight when all the BB staff went on the two-day weekly holiday, according to BB officials.

  • Dangerously exposed

    The recent hacking of the Bangladesh Bank system to steal at least $100 million reveals the vulnerability of the central bank's IT infrastructure, weak operational architecture and probable insider link. The heist also puts to question what kind of network architecture and firewall it has in place. Everybody is talking about malware injection into the BB system but nobody is asking how the malware could enter the supposed-to-be most robust and secure system of a central bank in the first place.

  • Hackers bugged BB system in Jan

    Hackers installed malicious software into the Bangladesh Bank system in January, which helped them gain knowledge of the central bank's working methods before stealing some $101 million. The forensic investigation by the BB, launched soon after the February 4 digital heist, detected the presence of the malware, said finance ministry and BB officials.

  • Does Bangladesh deserve a higher sovereign rating?

    In Fiscal Year (FY) 2014-15, global sovereign rating agencies Moody's, Standard & Poor's and Fitch assigned Bangladesh a 'stable' sovereign credit outlook.

  • Probe finds more ATM fraud cases

    Fraudsters might actually have stolen over Tk 1 crore -- four times the amount initially thought -- from ATM booths of several banks using cloned cards last month, the central bank and investigators say.

  • Ban high value notes, ex bank chief says

    Central banks should stop issuing £50, $100 and €500 notes to tackle crime, according to a former bank boss.

  • Homework for monetary policy

    The latest monetary policy, which the central bank governor had announced recently, has passed through the market with a fair amount of approval...

  • Central bank cuts policy rates

    The central bank has cut its policy rates for the first time in three years in an effort to spur investment and the GDP growth.

  • Farmers Bank Limited

    BB appoints observer in Farmers Bank

    Bangladesh Bank (BB) appoints an observer in the board of Farmers Bank in a bid to improve the health of the newly established bank.

  • BB chief writes to IGP seeking justice for tortured official

    Bangladesh Bank governor in a letter called upon the police chief to ensure justice for alleged police torture of an official of the central bank.

  • A rent seeking policeman!

    The horrific experience of an assistant director of the central bank, picked up by a sub-inspector and his cohorts and tortured inside a police...

  • Bangladesh Government Banks

    4 state-owned banks get observers

    The central bank appoints four observers to the boards of four state-owned commercial banks.

  • BB asks FIs to tighten money laundering rules

    The central bank today issued a master circular asking all financial institutions (FIs) to follow the anti-money laundering and terrorist financing rules strictly.

  • Interest rebate for good borrowers

    Bangladesh Bank will offer incentives to good borrowers, as there has been an allegation that the central bank always stands by defaulters.

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