Banking & Commodity

Global payments messaging network SWIFT has asked Bangladesh’s banks to suspend transactions with seven Russian lenders since they are facing sanctions from the United States and the European Union over Moscow’s invasion of Ukraine. The Bangladesh Bank yesterday also asked banks to remain cautious in their dealing with their Russian …

The Boithakata floating market on the Belua river in Pirojpur has transformed into a major centre for wholesalers as many people directly depend on the century-old market as their primary means of trade. Considered the biggest floating market in the southern part of the country, it has connected Nazirpur and …

Microfinance institution Shakti Foundation in collaboration with Delivery Tiger, a logistics platform, launched ‘e-Loan’ product for online entrepreneurs. The ‘e-Loan’ allows small and medium online retailers to get loans of up to Tk 500,000 within five to seven working days of application, according to a media release received on Wednesday. …

Traders raised the price of edible oil again taking the price of one litre packaged soya bean oil to Tk 180 in different city markets on Monday, despite the government’s assurance that the price of the commodity would not rise until Eid-ul-Fitr in May. The commerce ministry and edible oil …

Amid higher inflation, the Centre for Policy Dialogue (CPD) yesterday called for cutting duties and taxes, both at import and domestic levels, for key essential commodities to provide respite to low and limited income families. The independent think tank’s proposal comes at a time when the queue of people at …

Grameen Bank has seen robust growth amid a rapid transformation of the institution in the area of human resources and technical development over the last two years. “We are now following the turnaround strategy for reviving the growth of Grameen (Bank). Grameen Bank posted the highest profit in its history …

Farmers are increasingly using Di-ammonium Phosphate (DAP) to produce crops thanks to increased subsidies and price cuts by the government, enabling growers to apply the fertiliser that contains both the nitrogen and phosphate needed to ensure better plant growth. DAP usage grew more than twice in volume to 14.24 lakh …

The Bangladesh Bank yesterday appointed Md Habibur Rahman as its new chief economist. He is the first Bangladesh Bank official who has been appointed as the chief economist of the central bank. Rahman is the fifth chief economist of the central bank and Mustafa Kamal Mujeri was the first one. …

The government is planning to boost the country’s export of leather and leather goods to US$ 12 billion by 2030, officials said. The time for fulfilling the target has been fixed between 2021 and 2030, and the timeframe would be coordinated with the export policy. The projection has been fixed …

Bangladesh Bank yesterday ordered non-bank financial institutions (NBFIs) not to disburse loans using cheques of current accounts they have to maintain with the central bank. Bangladesh Financial Intelligence Unit (BFIU) and Anti-Corruption Commission (ACC) had discovered that the cheques were used in some of the major scams perpetrated in the …