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The taka has weakened further against the US dollar as the Bangladesh Bank is selling the American greenback to banks at Tk 102. The move is aimed at adjusting the exchange rates gradually in line with the market demand and supply. The latest depreciation comes a month after the central …

Bangladesh Bank yesterday allowed banks to keep private sector power producers out of the purview of the single borrower exposure limit when giving them loans for the import of raw materials, including fuel oil. As per the single borrower exposure limit, banks are not allowed to give out loans that …

Bangladesh’s private power producers will need $1 billion in foreign currency to import fuel oil and avert an energy crisis this summer, their industry association said in a letter to the central bank seen by Reuters. Analysts expect power cuts in Bangladesh to worsen this year, as a rapid decline …

The Bangladesh Bank on Wednesday said service providers will no longer have to make a declaration to repatriate their income of up to $20,000. Repatriation is the conversion of any foreign currency into one’s local currency. To increase the flow of foreign exchange in the domestic market, the central bank …

The Cabinet Committee on Government Purchase (CCGP) today approved separate proposals for procuring some 1.60 crore litres of soybean oil and 60,000 metric tons of fertilizer to meet the growing demand in the country. The approval came from the 7th meeting of the CCGP in this year held virtually with …

The Bangladesh Bank has now made the two-part diploma of the Institute of Bankers, Bangladesh (IBB) mandatory for the promotion of senior officers or above officials for the non-banking financial institutions (NBFIs) after the banks. In a circular published today, the Department of Financial Institutions and Markets (DFIM) of the …

The government has planned to bring reforms to savings tools so that the commoners get a relief amid high inflationary pressure on the economy, officials related to the development sector said. The Internal Resources Division (IRD) under the Ministry of Finance formed a committee for drafting an integrated policy for …

The rising cost of living has forced lower- and lower-middle-income people to make difficult choices regarding food consumption and health and education expenses. The exorbitant prices of daily essentials and regular hikes in the prices of services made the fixed-income group distressed as their income remained stagnant. Economists and market …

Farmers in the greater Rangpur region are so far pleased with their mustard yields amid the ongoing harvesting period while prices for the major oilseed are higher compared to what they were last season. According to growers in the region, they are getting up to six maunds of mustard from …

The International Finance Corporation will invest $1 billion annually over the next five years under the Bangladesh Investment Climate Fund (BICF) programme. “We are committed to supporting Bangladesh’s continued sustainable development and hope to be able to invest $1 billion each year over the next five years,” said Martin Holtmann, …