Banking & Commodity

The refiners on Monday requested the government to hike retail prices of packaged sugar by 20% to Tk150 a kilogram, due to high import costs amid rise in its international rates and higher cost for US dollar. They want to sell sugar at this rate to the consumers from June …

Interest caps on banks’ lending will be lifted from July as Bangladesh Bank on Monday issued guidelines. However, the new lending-rate mechanism is based on benchmark reference rate effective from next month. Under the new lending regime, the central bank will fix a reference rate based on the moving average …

Bangladesh Bank Governor Abdur Rouf Talukder considered Moody’s recent downgrade on some local banks as a geopolitical move rather than economic indicator. The central bank governor was responding to a question during the launch of the half-yearly monetary policy statement (MPS) starting next month. He said the international credit rating …

The International Monetary Fund (IMF) is working on a platform for central bank digital currencies (CDBCs) to enable transactions between countries, IMF Managing Director Kristalina Georgieva said on Monday. FE “CBDCs should not be fragmented national propositions… To have more efficient and fairer transactions we need systems that connect countries: …

The Bangladesh Bank has decided to launch a taka-rupee debit card in the country in September to allow travellers to make payments through the card at home as well as in India. The card will allow individuals to make local payments as well as settle payments in the Indian rupee …

The demand for cash withdrawal has surged before Eid raising the call money rate for interbank transactions. According to Bangladesh Bank website data, the average call money rate increased from 5.99% to 6.19% between April 2 and April 18. Data also shows that the lowest interest rate during this time …

In anticipation of Eid, the sugar market has witnessed a fresh surge in prices, which were already at a record high, after refiners proposed an upward price adjustment in accordance with global rates. FE On Wednesday, sugar rose to Tk 130-145 per kg in retail, up from Tk 118-130 per …

The amount of money transactions through internet banking soared by 63.63 per cent to Tk 2,19,960 crore in the July-February period in the financial year 2022-23 compared with that of Tk 1,34,425 crore in the same period of the previous financial year, as a growing number of people now prefer …

It was 11.45 pm on Tuesday. Shopping malls and markets usually remain shut at this hour of the day. But, the bustling shopping district for clothing and lifestyle items in the Mirpur-1 area was abuzz with shoppers. Some came in drove and they were all in a festive mood, going …

The sale of air conditioners (AC) has apparently doubled in Dhaka, as the heatwave in the capital saw people suffer the hottest days in over six decades. An AC is almost the only option that offers some relief without disruptions to normal routine. The pressure on customers to buy an …