Banking & Commodity

Bangladesh Bank (BB) today inked “Participation Agreements” with 49 commercial banks for Taka 10,000 crore Export Facilitation Pre-finance Fund (EFPF). The central bank formed the EFPF fund for exporters to continue the development and expansion of export-oriented industries. Under the fund, exporters will be able to take loans in local …

The government should take proper, visible and fast actions to ensure good governance in the banking sector, said economists at a discussion. They spoke at the unveiling of the fourth edition of Banking Almanac, a source of information on financial institutions in the country, in the capital on Saturday. The …

The shipment of plastic products rose 41 per cent year-on-year to $100.17 million in the first six months of the current financial year as orders surged following the post-pandemic recovery and manufacturers made a foray into new export destinations, official figures showed. The earnings compared to $71.06 million in the …

The Commerce Ministry on Thursday requested the Bangladesh Bank to keep a quota of the US dollar to facilitate import of six essential commodities to ensure smooth supply of the goods during Ramadan later this year. The ministry’s move comes as a dip in imports of a number of essentials …

Bangladesh Bank again chose to relieve banks from the liabilities of default loan recovery by finding a solution to the rising number of default loans and pending cases with the Artha Rin Adalat (money loan court) in the country. In a recent directive, the central bank increased banks’ loan write-off …

Global prices for food commodities like grain and vegetable oils were the highest on record last year even after falling for nine months in a row, the U.N. Food and Agriculture Organization said, as Russia’s war in Ukraine, drought and other factors drove up inflation and worsened hunger worldwide. The …

Branches of banks in Bangladesh have gone past the 11,000-mark for the first time despite expanding digitalisation in the financial sector, central bank data showed. Scheduled banks had 11,030 physical branches in October, according to the Bangladesh Bank review of e-banking and e-commerce statistics. Scheduled banks facilitate financial transactions by …

Of all the money spent behind the 4,500 types of goods imported through the Chattogram port in the first five months of fiscal year 2022-23, more than 51 per cent or Tk 104,600 crore was spent for only 20 products. The 20 include old ships and scrap, diesel, furnace oil, …

The government continues to borrow from Bangladesh Bank on a large scale as commercial banks are now unable to finance the state due to liquidity crunch. Economists warn that if the government consistently borrows from the central bank, it may stoke inflation in the coming days. Between July 1 and …

The commerce ministry yesterday requested the Bangladesh Bank for keeping a certain quota of the US dollar to facilitate import of six essential commodities to ensure smooth supply of the goods during the Ramadan. The ministry’s move comes as a dip in imports of a number of essentials created a …