Bank & Finance

Staff Correspondent: IFIC Bank of Bangladesh has informed the Dhaka Stock Exchange (DSE) that it is relinquishing ownership of Nepal-Bangladesh Bank (NBB) based in Nepal, sources of Bangladesh Bank (BB) and Ministry of Finance confirmed.Sarika Chowdhury, wife of Binod Chowdhury, a Nepalese millionaire, is buying a 41 percent stake of…

Staff Correspondent: Bangladesh Bank has given private banks one more month to introduce a minimum wage for officers and employees at the entry-level.The central bank has fixed a minimum salary of Tk 39,000 for general branch officers and Tk 36,000 for officers at the cash branches of banks. Banks have…

Industry Desk: Bangladesh Bank (BB) has sent letters to three banks instructing them to release over Tk56.85 crore stuck in the accounts registered in the name of payment gateway Foster.The move aims to refund the customers of controversial e-commerce platform Qcoom who did not receive their products even after paying…

Staff Correspondent: Bangladesh Bank (BB) has issued some fresh instructions to the banks after setting of guidelines on bank officials’ salary structure with a view to ending discrimination.The fresh instructions include- Bank-company executives cannot be deprived of the promotions they deserve simply on imposing excuses of failing to achieve the…

Golam Mostafa Jibon: At least Tk 20 crore has been disappeared from the Delta Life Insurance Company making many subscribers disappointed.Allegation has been intensified that a section of unscrupulous officials of the Delta Life Insurance Company in collaboration with each other misappropriated the amount of moneyin a year.They plunderedthe money…

Staff Correspondent: Bangladesh Bank (BB) has extended the relaxed loan repayment facility for shipbuilders to help the industry tackle adversities derived from the ongoing Covid-19 pandemic.“Shipbuilders will get another two-year moratorium to pay back bank loans,” as per a BB circular issuedyesterday.The central bank issued the circular as per instructions…

Embezzlement of Tk176 cr Court Correspondent: The High Court (HC) yesterday ordered authorities concerned to arrest 15 accused within next seven days in a case lodged over embezzling Tk176.18 crore of AB Bank Limited.The court also imposed travel against the 15 accused.The High Court bench of Justice Md Nazrul Islam…

The court also fined each of the accused Tk 28 lakh Noakhali Correspondent: A court in Noakhali yesterday sentenced three Sonali Bank officials of Sonagazi branch to 31 years in prison each on charges of deception, fraudulence and embezzlement.The court of district judge also fined Tk 28 lakh each of…

Shariah banks progressing fast in Bangladesh, Says Shahjalal Islami Bank MD Staff Correspondent: The US-based credit rating agency Moody’s in their recent report stated that Islamic banks in Bangladesh have higher asset risks than conventional private banks because they have rapidly increased corporate exposure. They also mentioned that the loss…