Banking & Commodity

Government borrowing from banking sources has gone up significantly this month as it is now on a spending spree to materialise different development and non-development programmes by the time this fiscal year ends. The government had borrowed Tk 26,741 crore from banks from July 1 to May 26 of fiscal …

The currency of Bangladesh has depreciated further against the US dollar, hitting Tk 92.95 on the interbank platform yesterday. The exchange rate stood at Tk 92.90 per dollar on Monday before slipping by another Tk 0.05 yesterday, the 16th decline of the taka this year. The local currency is losing …

The Bangladesh Bank has said that the country’s growth prospect is clouded by a number of uncertainties, including higher input costs and a decline in exports in Europe amid the Russia-Ukraine war. The central bank came up with the caution in its January-March quarterly report of 2022. The caution came …

The Bangladesh Bank yesterday said the interested candidates for the post of managing directors of non-bank financial institutions (NBFIs) have to obtain at least 20 years of working experience at banks or NBFIs. The candidate also has to have two years’ experience of working in the immediate lower post of …

Bangladesh Bank yesterday asked banks, mobile financial service (MFS) providers and payment service providers (PSPs) to take effective measures to ensure that payment services were available to people in flood-hit areas. Branches of banks, ATM booths, agent banking outlets and MFS agent points in such areas were now suffering from …

The government missed an opportunity to contain inflationary pressure by leaving the tax and other duties levied on most essential products unchanged in the proposed national budget for fiscal year 2022-23, according to various economists and business leaders. They suggested increasing direct taxes instead of indirect taxes to reduce the …

Inflation surged to an eight-year high of 7.42 per cent in May, driven by a hike in food costs, underscoring the plight a majority of the population in Bangladesh is currently experiencing, official figures showed yesterday. Last month’s sharp rise in the Consumer Price Index (CPI) was more than one …

Bangladesh Bank yesterday asked banks to continue providing banking services to clients in the flood affected areas of the country through their offices in adjacent places that remain unaffected. Operations of all bank branches and sub-branches located in flood-hit areas, such as Sylhet, Sunamganj, Rangpur, Kurigram and other districts, will …

Bangladesh’s performance appeared better in containing price of essentials compared to its neighbours despite a worldwide inflation, largely caused by the global political crisis, a situation that emerged when the COVID-19 pandemic slowed down the economic growth across the globe. The South Asian countries like most nations elsewhere currently witnessing …

Bangladesh Bank yesterday said it would review a proposal from the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) to reinstate the relaxed loan classification policy until December this year. Md Serajul Islam, spokesperson of Bangladesh Bank, came up with the remark after a bankers’ meeting between the higher-ups …