Conventional banks have to maintain 18.5 per cent statutory liquidity ratio (SLR) and cash reserve requirement (CRR) of their total clients' deposits. They must also maintain a maximum 85 per cent loans-deposit ratio. But the regulatory requirements are much lax for Islamic banks: they have to keep...
Bangladesh has sought an additional $1.25 billion from the Asian Development Bank (ADB) to ballast the country's purses in its fight against coronavirus and beyond. The Manila-based development lender has already committed to providing $602.39 million as budget support as well as to meet the emergency expenditure in...
The prolonged
coronavirus-led shutdown deepens worries over sales of 9 lakh kilograms of tea
currently piled up at brokerage houses.
The closure has
slashed tea consumption as restaurants and tea stalls have been closed for
nearly a month. As many as 167 tea estates of the country are...
Foreign Minister Dr AK Abdul Momen has urged the Australian companies to invest in Bangladesh taking the advantage of "attractive and investment-friendly" environment in the country. "Making investment in Bangladesh is much more profitable than any other country in the region," the Foreign Minister was quoted as...
The next edition of Yarn Expo Autumn 2019 will be organised during September 25-27 in Shanghai, building on the success of the Yarn Expo Spring 2019 which reported positive feedback from exhibitors about the quality of trade buyers, while buyers expressed satisfaction about the diverse variety of...
South Korea will provide Bangladesh $50 million in a flexible loan as budget support to combat the economic fallout of the Covid-19 pandemic. A highly credible source at the Economic Relations Division (ERD) confirmed this to Dhaka Tribune. The ERD has sent a letter to the Finance Division...
In the backdrop of Covid-19 situation, the government has distributed nearly Tk26.5 crore among more than eight million people at the district and upazila level across the country under the social safety net programmes. “With the instruction and supervision of the Social Welfare Minister, nearly Tk26.5 crore...
China's central bank has given the final nod to a network clearing license for an American Express joint venture, allowing it to be the first foreign credit card company to launch onshore operations in China. The approval comes against a backdrop of high Sino-US tensions, with disagreements...
A new nonbank financial institution, Strategic Finance and Investment Limited, has secured final approval from Bangladesh Bank to run operations. The central bank issued a notice on awarding the authorisation to the new institution on Sunday, central bank spokesperson Serajul Islam said. Earlier, the institution got initial...
The power and energy sector of Bangladesh is set to receive an allocation of Tk26,758 crore in the proposed national budget for the 2020-21 fiscal year, placed in parliament by Finance Minister AHM Mustafa Kamal. The allocation was reduced by Tk1,293 crore in the coming fiscal as...