Banking & Commodity

Late finance minister AMA Muhith had tried in vain to check the deterioration of the country’s banking sector prone to loan scams. Finance Minister Clueless It turns out that Muhith’s successor AHM Mustafa Kamal is almost clueless regarding the sector as his recent comments on loan scams, including over Tk …

As trust issues are plaguing Shariah-based Islami banks thanks to allegations of irregularities in lending, Bangladesh Bank has instructed five such banks to send daily updates on loan disbursements and collections of Tk10 crore and/or higher. The central bank Bangladesh Bank has taken this decision as part of its hands-on …

The government has approved procuring 27.5 million litres of soybean oil for the Trading Corporation of Bangladesh (TCB) to sell among the people at subsidised prices. The cabinet committee on government purchase approved the proposal in this regard at its meeting on Wednesday, chaired by finance minister AHM Mustafa Kamal. …

The amount of foreign currencies held by the country’s commercial banks increased slightly by 4.5 per cent in November compared with that in the previous month amid various initiatives taken by the government to improve the situation. The gross foreign currency balance with the banks increased to $4,708 million in …

The central bank has asked banks to take a minimum cash advance from importers while opening letters of credit (LCs) for rice and wheat in order to keep their prices at a tolerable level in the domestic market and ensure smooth supply. The advance payment, also known as the cash …

The Bangladesh Bank has sanctioned Tk 5,250 crore in liquidity support in the past two days after it has introduced a financial instrument named Islamic banks liquidity facility for the Shariah-based banking system in Bangladesh. The central bank issued Tk 4,000 crore in liquidity support to five banks on Tuesday …

Five Islamic banks yesterday borrowed nearly Tk 4,000 crore from Bangladesh Bank right after a liquidity support arrangement was offered by the central bank to cash-strapped Shariah-based banks. The fiver are Islami Bank Bangladesh, Social Islami Bank, First Security Islami Bank, Global Islami Bank and Union Bank, said a senior …

The Bangladesh Bank on Monday introduced a new financial instrument named Islamic banks liquidity facility for the Shariah-based banking system in Bangladesh to facilitate providing short-term liquidity in the Shariah-based banks. The BB issued a circular in this regard on the day. Shariah-based banks maintaining current accounts with the Bangladesh …

Though inflation continued to undergo a downward trend for a third consecutive month in November, non-food inflation in rural areas entered into double digits last month for the first time in recent times. Even after the decreases, inflation still remains near 9 per cent, which is much higher than recent …

The Bangladesh Bank on Sunday asked banks to make the opening of letters of credit easy for importing essential products to control prices and ensure supply of the items. After a meeting of the BB with the Association of Bankers Bangladesh, BB spokesperson and executive director Md Mezbaul Haque told …