Banking & Commodity

Bangladesh’s payment ecosystem is poised to leapfrog to become a very large substantial payment market within the South Asia and Asia Pacific region in the next few years, said Vikas Varma, chief operating officer for South Asia at Mastercard. “The signs of economic growth and prosperity, especially in urban areas, …

There has been a growing preference for using cash recycling machines (CRMs) in recent years since the introduction of the technology in Bangladesh in 2017. The machines that had been set up by financial institutions, to help clients deposit, withdraw and transfer money instantly almost doubled in the last financial …

Prices of locally produced fruits experienced a sharp hike as the demand for imported fruits declined. This was caused by further imposition of regulatory duty, depreciation of the Taka against dollar, and 100% cash margin on letter of credit (LC) opening which led to hike in price by at least …

Low-income people are changing their diet patterns and failing to get the minimum amount of protein in their food intake due to soaring essential prices. Fish accounts for nearly a fifth of daily protein intake. Poultry meat, egg and milk are also common sources of animal protein in the country. …

Egg prices eventually showed a downslide in the capital’s kitchen markets on Friday, to a substantial relief of the general consumers, one week after reaching its culmination. The FE correspondent found a dozen of eggs selling at Tk 145-Tk150 at Fakirapool, Shantinagar, Khilgaon and Malibagh markets on the day. Earlier, …

That high inflationary pressure has been taking a toll on people over the last couple of months is apparently evident in supermarkets, where the same amount of money is being spent albeit for the purchase of a lower number and volume of goods. While the sale of essential commodities has …

Farmers who grow vegetable saplings on floating seedbeds are hopeful of making good profits this year following two years of strife amid the Covid-19 pandemic, when there was a serious dearth in wholesale buyers due to restrictions on public movement. Farmers of the Kolardoania, Daulbari Dobra and Malikhali unions of …

Bangladesh Bank (BB) has instructed the country’s scheduled banks to launch a campaign to encourage Bangladeshi nationals to send home the undisclosed money they earned abroad by paying only 7 per cent taxes. The campaign will be in accordance with the recently made ‘Income Tax Ordinance’ aimed at bringing back …

The prices of essential commodities witnessed a fresh rise on the kitchen markets in the capital Dhaka on Monday after the government raised fuel oil prices by almost 50 per cent on Friday. Traders said that the price hike of fuel oils affected the prices of commodities as transport costs …

The Bangladesh Bank has asked six banks to remove the heads of their treasury departments amid allegation of dollar price manipulation. The central bank sent letters to the six banks in this regard on Monday. The banks are Standard Chartered Bank, BRAC Bank, Dutch-Bangla Bank, City Bank, Southeast Bank, and …