Bank & Finance

BB gives wrong direction Mahfuz Emran: Bangladesh Bank’s decision to merge banks has stumbled. There was a backlash after some banks were hurriedly called and ordered to merge before the policy was issued. Due to this, the pressure to withdraw individual as well as institutional deposits from some banks has…

Special Correspondent: The development of the Indian Special Economic Zone (ISEZ) at Mirsarai in Chattogram has hit significant delays, with work virtually stalled despite the strong commitment from the Bangladesh government to implement the $115.63 million project. The project, initially approved in 2019, has made minimal progress, raising concerns about…

Enayet Karim: One of the main goals of the government’s medium and long term development plan is to establish Bangladesh as a developed country by 2041. To achieve this goal, it is essential to increase investment in the development sectors. Foreign aid or loans are essential in current financial management…

Staff Correspondent: Bangladesh Bank’s ‘deterioration’ has been agreed upon by the former governor Dr. Mohammad Farasuddin. He said, it hurts when I hear about the decline of the central bank. Many officers are quitting their jobs. Irregularity is happening, but you can’t take role in the irregularity.The former governor of…

Staff Correspondent: The government is planning to provide non-monetary incentives along with existing monetary incentives to increase remittance flow through formal channels. According to related sources, the government is going to take this initiative to bring the foreign currency earned by the expatriates to the official channels to increase the…

If comprehensive reform avoids Farhad Chowdhury: Bangladesh’s economic stability is currently under threat due to declining tax revenue as a percentage of government expenditure, rising debt burden and widening fiscal deficit. If certain exemptions are phased out, an additional revenue of Tk 60 thousand crore is possible in the next…

Staff Correspondent: Remittance rose 21% in April for Eid Remittance inflow to Bangladesh rose 21.31 percent year-on-year to $2.04 billion in April thanks to Eid-ul-Fitr as the country’s migrant workers typically send more money home ahead of the maDjor religious festival for Muslims.Meanwhile, industry insiders said the remittance inflow increased…

Staff Correspondent: Donors and the Asian Development Bank (ADB) have agreed to a replenishment of $5 billion for ADB’s Asian Development Fund (ADF) 14 and Technical Assistance Special Fund (TASF) 8. The commitment was made during ADB’s 57th Annual Meeting being held at Tbilisi, Georgia from 2-5 May.The following developing…

No benefit to defaulters IMF has asked to know about the steps taken by the central bank to disclose complete information on defaulted loans, not giving any benefits to defaulters and prevent money laundering Mahfuja Mukul: International Monetary Fund (IMF) worried by failure to meet reserve targets. Bangladesh Bank is…

Staff Correspondent: In August 2021, foreign exchange reserves crossed the highest mark of $48 billion in the country’s history. This record was made during the tenure of former Bangladesh Bank Governor Fazle Kabir. However, Fazle Kabir himself could not hold the reserve. It started to decline during his tenure after…