Bank & Finance
Bank & Finance
Pvt insurers paid 83pc claims
Sadharan Bima Corporation paid only 19 pc Zarif Mahmud: Private sector life and non-life insurance companies in the country have paid 83 percent of insurance claims in the financial year 2022-23 (from July 2022 to June this year). In contrast, the claims payout rate of state-owned insurance companies is 43…
Read More »13 organisations grabs 46pc Agrani Bank loan
Staff Correspondent: Banks in the country are always more interested in lending to larger groups. That is why there is sick competition. Huge amounts of loans are being given on nominal collateral without considering the capacity and risk of these institutions or groups. One of these is the leading state-owned…
Read More »Banks unable to pay import bills
Short of dollar Mahfuz Emran: Due to the dollar crisis, the banks are not able to pay the import bills on time. This crisis has become evident especially in government banks. LC is opened for import of goods for government essential purchases. But the payment date has to be changed…
Read More »Forex reserve falls by $1.5b
Special Correspondent: Bangladesh’s foreign exchange reserve fell by around $1.47 billion in a span of eight days. As a result, the country’s reserve has decreased to 2,171 million dollars.The information has emerged in the weekly report of Bangladesh Bank on Thursday.According to report of the central bank, foreign exchange reserve…
Read More »Syndicate traders root of all doom
Staff Correspondent: In the last one year, it has been possible to rein in commodity prices all over the world. Our neighboring country is Sri Lanka. Inflation was 49 percent. Almost went bankrupt. The government fell. Inflation in Sri Lanka is now 5 percent. It is literally a miracle. But…
Read More »CBC confiscating shares of 3 Eastern Ins directors
Staff Correspondent: The Commercial Bank of Ceylon (CBC) is confiscating 7 lakh 53 thousand 900 shares of three directors of Eastern Insurance Company Limited listed in the stock market. Dhaka Stock Exchange (DSE), the major stock exchange, has allowed the bank to seize these shares to recover a loan of…
Read More »Borrowing from commercial banks for repaying BB loans
Govt’s loan from banking net Mahfuz Emran: The government’s bank loans for the outgoing financial year were directed towards the central bank. However, this trend has decreased in the current financial year. Now the government is repaying the central bank loan by taking loans from commercial banks. Even though the…
Read More »$12 billion foreign debt repayment uncertain
Experts fear serious economic debacle Farhad Chowdhury: One of the reasons for the problems that have arisen in the country’s economy at present is the dollar crisis. Although there has been a dollar crisis for a long time, the dollar crisis in the foreign exchange market has taken a strong…
Read More »Why remittance flow decreasing?
Farhad Chowdhury: Although most of the important indicators of the economy are down, the remittance flow sent by expatriates has been relatively dynamic. Bangladesh Bank has given worrying information about this remittance flow. Remittances sent by expatriates in August were the lowest in six months. The central bank says that…
Read More »Rampant dollar crisis
Syndicates taking advantage Mahfuz Emran: There is an acute shortage of cash dollars everywhere. Same is the case with advance or LC dollars. Commercial banks do not accept dollars in the form of cash or drafts. Many banks can’t even provide dollars to pay off credit or debit card debt.There…
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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 …
