Bank & Finance
Bank & Finance
Fund crisis hits ADP implementation rate
Zarif Mahmud: The implementation of the Annual Development Program (ADP) for the current financial year (2022-23) is showing slow pace. The ADP implementation rate in the first six months of the fiscal year is only 23 percent. Such low ADP implementation in the first six months of the financial year…
Read More »Hungry banks depriving from customers’ deposit
Zarif Mahmud: Most of the banks of country are not getting deposits from the customers even after offering high interest rates. Again, the inter-bank money market (Call money) is not providing money as per the demand. The repo interest rate, the main means of borrowing cash from the central bank,…
Read More »Tk 18,000 cr remittance fetched in 27 days
Staff Correspondent: Remittance flows are increasing at the beginning of the new year. Expatriate Bangladeshi people have sent remittances worth 167 million (1.67 billion) US dollars in the first 27 days of this January. In local currency (at Tk 107 per dollar) which amounts to about 18 thousand crore taka.In…
Read More »Banking sector: Numerous challenges ahead in BD
Ashfaque Choudhury: The banking sector in Bangladeshis is facing numerous challenges and needs to improve considerably.According to analysts despite having a large population and a rapidly growing economy, the banking sector needs to catch up to its neighboring countries.The industry is still largely dependent on manual processes, which are slow,…
Read More »Bangladesh gives $0.97b subsidy in electricity
US $0.44b in gas Zarif Mahmud: The International Energy Association (IEA) says that many countries in the world subsidize gas and electricity. In an analysis last October, the organization showed that Bangladesh is in the 13th position in terms of subsidizing the electricity sector. And the position of Bangladesh is…
Read More »List of top 20 loan defaulters disclosed
Staff Correspondent: The total amount of debt to the top 20 defaulters is Tk 19,283.93 crore while the amount of defaulted loan is Tk 16,587.92 crore. CLC Power Company Tk 1,732.92 croreWestern Marine Shipyard Tk 1,855.39 croreRemex Footwear Tk 1,077.63 croreRising Steel Company Tk 1,142.76 croreElias Brothers Tk 965.60 croreRupali…
Read More »1000 illegal money changers engaged in forex home delivery
Transacts Tk 700 cr per day Mahmuz Emran: You need foreign currency urgently. Going to the bank or exchange may also feel risky. He knew from an acquaintance that there is an opportunity to get foreign currency including dollar and euro at home. You don’t have to go, the money…
Read More »Dollar crisis yet not ending
Ibrahim Khalil Jewel: The dollar crisis has become more noticeable in the banks of the country. The supply of dollars from the central bank’s foreign exchange reserves to commercial banks has been reduced. The central bank is not releasing dollars except for essential commodity imports. Only consumer goods, baby food,…
Read More »Islami, Al-Arafah, National turn to Sonali for costly fund
Industry Desk: National Bank has been suffering from a severe financial crisis for two years due to a high rate of non-performing loans.It would have to take permission from BB to issue more than Tk10 crore in a loan to a single borrower.The bank’s managing director, Mehmood Husain resigned recently…
Read More »No limit on interest rate of bank deposit
BB unveils new monetary policy -No cap for credit card loans-Interest on consumer loans could be increased more 3pc-Removal of fixed interest rate on other loans under consideration Ibrahim Khalil Jewel: Bangladesh Bank has removed the fixed interest rate on bank deposits. From now on, banks and financial institutions will…
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Hotels to be converted for Covid hospitals
Hospitals overwhelmed Staff Correspondent: The government is going to rent hotels for providing treatment …
