Bank & Finance

Deficit of 4SoBs Tk 11696 cr Private banks Tk 8137 cr Mahfuja Mukul: Banks are giving special discounts for businessmen in repayment of loans. Exemption has not yet expired. As a result, customers are exempted from defaulting even if they do not fully pay the loan installments. However, the defaulted…

Traders in trouble Staff Correspondent: There is a dollar crisis in the banks over the country. Due to this, traders are not able to import goods from different destinations. Importers fear that there will be a decline in the import of goods.Importers say that many are unable to open letters…

LC opening restraint Industry Desk: Data analysis showed that after growing for six straight months, private sector loan growth dropped to 13.93% in September.Private sector loan growth decreased from 11.07% in January to 10.87% in February of this year.After six months of growth, the private sector’s credit growth slowed in…

Industry Desk: Bangladesh Bank Deputy Governor Abu Farah Md Nasser yesterday said that proper utilization of Credit Guarantee Scheme is inevitable for revival of Cottage Micro Small and Medium Enterprises (CMSMEs).He said although the Bangladesh Bank has created a fund of Tk 2000 crore for Credit Guaranty Scheme with a…

Industry Desk: Developing countries are facing an economic crisis, heavy debt burdens, high inflation, and climate change. It is a crisis facing development itself, said World Bank President David Malpass.He said this while participating in the 27th climate conference organized by the United Nations in the Egyptian city of Sharm-al-Sheikh…

Staff Correspondent: Despite taking VAT registration, around 22 percent of companies are not submitting their VAT returns.A large number of individuals are also remaining out of the tax network despite having taxable income.A total of 26 lakh people or 52.41 percent of the taxpayers did not submit their income tax…

Staff Correspondent: The government is optimistic about expanding digital banking in the country to accelerate financial inclusion with an aim to create more jobs for young jobseekers.According to an official document seen, the government has stepped in to examine the possibility of “establishing digital banks.”It says if digital banking, which…

Industry Desk: Bad loans stuck in legalities kept piling up as over Tk153,000 crore were reportedly in limbo with the Artha Rin Adalat (money loan court) as of June this year.Bad governance, poor capacity, insufficient money loan courts, protracted case proceedings and stay orders were on a long list of…