Banking & Commodity

Edible oil processors in Bangladesh have proposed the government raise the price of soybean oil by Tk 20 per litre, according to processors and officials of the Bangladesh Trade and Tariff Commission (BTTC). The Bangladesh Vegetable Oil Refiners & Vanaspati Manufacturers Association, a forum of the refiners, submitted a proposal …

Banks in Bangladesh have been allowed to calculate their stock market exposure limit on the basis of the purchasing price of the securities they own instead of their market value. Stock market intermediaries have long demanded the Bangladesh Bank permit banks to compute their exposure on the basis of costs. …

Grameen Euglena, a joint venture between Japan’s Euglena Co Ltd and Bangladesh’s Grameen Krishi Foundation, has been processing moong dal collected from Patuakhali and exporting it to Japan since 2018. And although the company’s exports had declined due to various difficulties amid the Covid-19 pandemic, the situation has now normalised …

Bangladesh Bank (BB) has suspended the operations of five money changers for keeping dollars beyond the limit and other irregularities. The central bank also sent show-cause notices to 42 money changers for flouting its rules amid the global dollar crisis, BB Executive Director and Chief Spokesperson Md Serajul Islam said, …

The price of wheat in Bangladesh may come down as its export from Ukraine has resumed following an agreement with Russia. Prior to the Russia-Ukraine war, 40 per cent of Bangladesh’s wheat import was made from the two countries. After a stalemate of about five months, the first ship loaded …

Diminished confidence in the non-banking financial sector amid various irregularities, discouragement of savings certificates, stock market volatility and overall lack of investor confidence in the business sector are compelling people to deposit their hard-earned money in saving accounts. According to Bangladesh Bank data, savings deposits in banks have risen in …

The central bank has increased the interest rates on loans under Export Development Fund (EDF) scheme aiming to adjust the lending rates with traditional market, officials say. Under the revised interest rates, exporters will now be able to borrow from the low-cost fund at 3.0-per cent interest rate instead of …

Bangladesh Bank has formed the Credit Guarantee Department to expand its credit guarantee facilities and run their operations smoothly. The Credit Guarantee Department began its journey on July 4 after the central bank separated the Credit Guarantee Scheme Unit from the SME and Special Programmes Department and gave it a …

Bangladesh Bank yesterday unveiled a Tk 25,000 crore refinance scheme for cottage, micro, small and medium enterprises (CMSMEs) in order to increase their access to finances. Borrowers in the CMSME sector will get funds in the form of term loans, whose tenure is more than one year, from the scheme, …

Bangladesh Bank yesterday substantially relaxed the policy for rescheduling defaulted loans, allowing defaulters to repay term loans over a maximum period of eight years whereas it was previously two years. Defaulters will also be allowed to reschedule their non-performing loans (NPLs) four times whereas previously they could do so three …