The inflow of remittances grew by more than 16 per cent in the first quarter (Q1) of this fiscal year (FY) as the government has announced a 2.0 per cent incentive on remittance receipts. The flow of inward remittances rose to US$4.51 billion during the July-September period...
Digital payments and services platform Dmoney yesterday announced the launch of its commercial operation for the Bangladesh market. “We have come up with a technology platform that will further accelerate the advancement of the people. This is an extremely proud moment for us Bangladeshis,” Dmoney Chairman Anjan Chowdhury...
Malaysian and Indonesian central banks signed a bilateral local currency swap agreement on Friday, which allows for the exchange of local currencies between the central banks of up to 2 billion U.S. dollars. Bank Negara Malaysia (BNM) said in a statement following a meeting between the two...
The government’s net borrowing from the banking system in the first 51 days of the current fiscal year (2019-2020) almost touched its net borrowing from the source in the entire last fiscal year (2018-2019). In the period from July 1 to August 20 of the current...
Finance Minister AHM Mustafa Kamal on Sunday said that the government would not re-finance anymore to the state owned commercial banks to address their capital crunch. “There will be no more refinancing to the banks and that’s gone. This is now the story of the past …….these...
Loan write-offs almost quadrupled in the first quarter of the year on the back of the central bank’s easing of rules, in a sobering reminder of the banking sector’s deteriorating financial health. Between January and March, Tk 557.30 crore was written-off, in contrast to Tk 141.26 crore...
Centre for Policy Dialogue (CPD) has decided to set up ‘citizen’s review commission’ on banking in view of what it said the “deteriorating health” of the banking sector and the “inertia” of the government to address the problems pro-actively. This was decided by the Board of Trustees...
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cash incentive would be effective from July 1 this year
Bangladesh Bank (BB) on Tuesday issued a circular on providing 2% cash incentive for money to be remitted through banking channel into the country. The cash incentive would be effective from July 1 this...
Bangladesh Bank (BB) on Tuesday signed participation agreements with five banks and two non-bank financial institutions (NBFIs) to strengthen economic sustainability of the readymade garment (RMG) sector. Under the agreements, the central bank has enlisted the banks and FIs as the Participating Financial Institutions (PFIs) under the...
Banks’ loan recovery in the first quarter of 2019 was 9.68 percent higher than a year earlier, but given the extraordinary rate at which default loans are increasing it seems below par. Between January and March, banks recovered Tk 2,448 crore bad loans, according to data from...