Banking & Commodity

Wholesale and retail establishments that saw their business crippled by Covid-19 may have enjoyed some recovery alongside the return to economic normalcy but the ongoing Russia-Ukraine war now threatens to offset their gains amid global inflationary pressure. Around 65 to 75 per cent of all wholesale and retail traders in …

Today, banks and non-bank financial institutions are increasingly promoting contactless credit and debit cards, which allow users to simply tap their cards at payment terminals (point of sale/POS.) They can transact without contact with cashiers or handing over their card during in-person purchases. A report published last year says there …

Bangladesh Bank issued a payment system operator (PSO) license to Service Hub on Thursday for providing online payment services in the country. The company will operate under the brand name PayStation and can facilitate payments in the e-commerce sector, according to a circular issued by the regulator. The tech company …

With the launch of Bangladesh Bank’s new platform for foreign exchange transactions– the real-time gross settlement (RTGS) system, not only does it help reduce cost and time but also enables businessmen’s credit is no longer be stuck in banks. Banks now clear and settle five currencies which are the dollar, …

Bangladesh Bank recently took a set of initiatives to bring about an effective floating exchange rate, meaning that which will rise or fall based on supply and demand, to bring back stability in the foreign exchange market. In several meetings with commercial banks, the central bank said the demand and …

The harvesting of early Aman paddy varieties has begun in five northern districts, namely Lalmonirhat, Kurigram, Gaibandha, Nilphamari, and Rangpur, a relief amid rising prices of rice at home and a growing threat of food crisis globally. Abu Bakkar Siddique, deputy director of the Department of Agricultural Extension (DAE) in …

The Ministry of Commerce on Thursday reduced the price of palm oil by Tk12 per litre following the recommendation of the Bangladesh Trade and Tariff Commission (BTTC.) The new price — Tk133 per litre — of palm oil will be effective from Sunday, said a ministry notice. Meanwhile, prices of …

The central bank yesterday ordered six banks to spend 50 per cent of the profits they had earned from their foreign exchange businesses unethically between May and June for corporate social responsibility (CSR) programmes. The six banks — Brac Bank, Dutch-Bangla Bank Ltd, The City Bank, Southeast Bank, Prime Bank, …

A new digital platform rolled out by the Bangladesh Bank has opened a new horizon for local businesses to do trade with foreign currencies on a real-time basis. Under the new platform, businesses that largely supply raw materials through letters of credit (LCs) meant for domestic use are now able …

Bangladesh Bank yesterday issued guidelines for the rollout of green bonds to facilitate sustainable investment of banks and non-banks to tackle the adverse impacts of climate change. Lenders will be able to raise funds by issuing green bonds in the market in order to implement different types of projects which …