central bank
Govt keeps borrowing big amounts from BB
The government has kept borrowing a hefty amount of funds from the Bangladesh Bank as commercial banks are unable to meet the financing requirement of the state because of the liquidity crunch.
Central banks and innovation
Fintech innovation, especially innovation in payments -a critical financial service most people use every day—is generating new challenges and often competing priorities for central banks.
Lanka gets 6 more months to repay BB’s $200m
Bangladesh Bank yesterday granted Sri Lanka’s request to be given six more months to repay a $200 million loan due to the prolonging of its economic crisis.
Nagad Finance inches closer to running MFS operation
The Bangladesh Bank yesterday decided in principle to allow Nagad Finance PLC, a proposed non-bank financial institution (NBFI), to run mobile financial services.
BB team was negligent in detecting BIFC irregularities
The central bank’s inspection team did not perform properly to detect the irregularities at Bangladesh Industrial Finance Company (BIFC), a fact-finding committee found.
Govt keeps borrowing heavily from BB
The government continues to borrow from Bangladesh Bank on a large scale as commercial banks are now unable to finance the state due to liquidity crunch.
Dressing Up Balance Sheets / Four more Islamic banks take BB emergency loans
Four more shariah-based banks have been found to have taken emergency funds, which are usually taken during extraordinary circumstances, in an attempt at dressing up their balance sheet for last year.
2023 will be the year of inflation and financial turpitude
While the government is distracted by elections, the financial economy will suffer
Only two options left for macroeconomic stability
Bangladesh does not have too many policy options other than reducing consumption of goods and services and making the exchange rate flexible in order to ensure macroeconomic stability, said a central bank report.
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.
