Banking & Commodity

Although a series of new decisions by the Bangladesh Bank (BB) are slated to temporarily increase the flow of dollars in the market, economists and bankers are unsure if these measures will offer a long-term solution to the problem. The central bank has made several policy changes, effective from Sunday, …

Consumers Association of Bangladesh (CAB) has urged the government to readjust edible oil prices in the country following their continuous downward trend in the international market. SM Nazer Hossain, Vice-President of the CAB central committee made the call through a statement on Saturday. In the statement, Nazer said Bangladesh Trade …

Bangladesh’s wheat import fell to its lowest in six years as many consumers switched to rice irked by surging prices of the grain. Public and private importers brought in 40 lakh tonnes in fiscal year 2021-22, down 25 per cent year-on-year as businesses drastically cut imports, according to food ministry …

Indonesia has scrapped its export levy for all palm oil products until Aug. 31 in a fresh attempt to boost exports and ease high inventories, finance ministry officials said on Saturday, adding the move would not disrupt government revenues. The decision by the world’s biggest palm oil exporter could further …

The government has given go-ahead to 47 companies to import 73,000 tonnes of rice as part of its ongoing effort to contain food prices in the local market. The firms have been asked to bring 60,000 tonnes of non-basmati boiled rice and 13,000 tonnes of non-boiled atap by August 25, …

Abdur Rouf Talukder, new governor of Bangladesh Bank, today said containing inflation would be his top priority. Talukder, who joined the central bank as its 12th governor today morning, also stressed the need for bringing back stability in the foreign exchange market by stabilising the exchange rate between the taka …

International cards, both debit and prepaid, can be used for online payments of visa processing fees, said the Bangladesh Bank today, as it moves to facilitate smooth transactions In this context, authorised dealers (ADs) may issue international cards in the name of official designated by nominated agents, said the central …

Bangladesh Bank (BB) has asked the commercials banks to ensure smooth and uninterrupted transactions through the Automated Teller Machine (ATM), Point of Sale (POS), Internet Banking, Online e-Payment Gateway and Mobile Financial Services (MFS) during the vacation of Eid-ul-Azha. In a circular, the BB instructed the banks to ensure adequate …

The demand for liquid cash has surged in the banking sector with the banks’ daily average borrowing from the call money market increasing by 48.42 per cent or Tk 3,043.4 crore in three days up to Tuesday before Eid-ul-Azha compared with that in the previous week. Eid-ul-Azha, one of the …

The government’s paddy procurement drive is far below its target for this year even though two months have gone by since the process began at the end of April. The Directorate General of Food (DG of Food) could only procure one-fifth of its target to buy paddy grown in the …