City Bank has signed a Memorandum of Understanding (MoU) with PrimaDollar to facilitate the exporters of the bank involved in foreign trade on deferred sales contract terms. PrimaDollar is a global trade financier, founded in 2015 and headquartered in the UK. At present, they have 12 offices...
Bangladesh has embraced a wide range of financial inclusion since 2010 by allowing a vast population to open an account with an initial deposit of Tk 10 to Tk 100 as the government looked to bring the unbanked under the umbrella of the banking sector. As of...
The Covid-19 pandemic created a crisis but also brought opportunities for e-commerce entrepreneurs, leading to a massive spike in demand for contactless payments in the country, said Zunaid Ahmed Palak, state minister for ICT division, yesterday. There is no doubt that people in the past four months...
The coronavirus pandemic triggered a decline in card spending by nearly 50 per cent in April, in an indication of a massive fall in demand in Bangladesh as people went for belt-tightening amid income collapses. Transactions through debit cards stood at Tk 8,336 crore in April, the...
The overall weighted average interest rate spread in the country’s banking sector fell below 3 percentage points for the first time amid enforcement of the 9-per cent ceiling on the lending rate and credit demand fall during the coronavirus pandemic. According to the Bangladesh Bank data, the...
Three specialised banks and the Palli Karma Sahayak Foundation (PKSF) are ready with separate action plans aimed at distributing loans toward creating employment for youths and the rural poor and to rehabilitate returnee expatriates hit hard by the Covid-19 pandemic. They will finalise the draft plans at...
This year saw an unprecedented and drastic transition in the banking sector. In Bangladesh too, the banking industry has been heavily disrupted by prevailing business challenges. With such disruptions, traditional banks have been compelled to rethink their processes digitally, with strong social distancing rules forcing banks to...
The Asian Development Bank (ADB) returned to the US dollar bond market with the pricing of a $4 billion three-year global bond – the proceeds of which will be part of ADB's ordinary capital resources, according to a press release. "We are very appreciative of the consistently...
The central bank of Bangladesh has relaxed regulations aiming to attract foreign direct investment (FDI) through providing three more facilities to foreign investors. Under the relaxations, foreign investors are eligible to receive their dividend in foreign currency (FC) accounts maintained in Bangladesh, according to a notification, issued...
Exporters have been demanding depreciation of the taka against the US dollar to stay competitive in the export market for a very long time. Now, the Bangladesh Bank, which has been managing the depreciation pressure through artificial interference, is finally feeling the need for depreciation as well....