Bangladesh Bank (BB) in a clarification on Tuesday said that weak banks could merge with good ones by December 2024 on their own, otherwise the central bank will decide on the merger issue. After December 2024, the BB will make a decision on which bank will merge with whom, and then
Tag: Bangladesh Bank
BB sets banking hours for Ramadan
Bangladesh Bank (BB) has fixed office hours from 9:30 am to 4:00pm for all scheduled banks in the country during the Holy month of Ramadan. However, people will be allowed to make banking transactions from 9.30am to 2.30pm, according to a circular issued by the central bank today. For bank staff, there will be
BB issues new guidelines on bank director appointment
Bangladesh Bank (BB) has issued new guidelines tightening the rules of appointing bank directors to ensure good governance in the banking sector. The step has been taken in line with the Bank Company (Amendment) Act, 2023, a BB circular said today. As per the guidelines, the minimum age of a director will
BB visits wheat cultivation project
Abu Farah Md Nasser, Deputy Governor of Bangladesh Bank, recently visited United Commercial Bank (UCB) PLC’s agricultural support scheme titled ‘Bhoroshar Notun Janala.’ Central Bank Deputy Governor visited East Harinchara of Lalmonirhat to inspect the progress of the ongoing project, implemented by the Rural Development Academy (RDA), Bogura’s Char Development
BRAC Bank secures Bancassurance approval from BB
BRAC Bank PLC has secured approval for Bancassurance Business from Bangladesh Bank (BB), a press release said Tuesday. Mohammad Shahriar Siddiqui, Director, Banking Regulation & Policy Department, BB, handed over the approval document to Syed Abdul Momen, Deputy Managing Director, BRAC Bank, at the BB Head Office in Dhaka on January
BB sends letter to 5 Shariah-based banks to stop transactions
Bangladesh Bank has confirmed that it has issued a letter to five Shariah-based banks regarding the prevention of transactions. However, the final decision has not been taken yet, said Mezbaul Huque, Executive Director and spokesperson of the central bank, reports UNB. In an urgent press briefing at Bangladesh Bank headquarters on Sunday
AIBL signs agreement with Bangladesh Bank
Al-Arafah Islami Bank PLC. (AIBL) has signed an agreement with Bangladesh Bank to avail Bangladesh Bank-Long Term Financing Facility (BB-LTFF). Bangladesh Bank Deputy Governor Nurun Naha was present as chief guest in the program on 10 December at Bangladesh Bank Head Office. Managing Director (Current Charge) of AIB PLC Shabbir
Bangladesh Bank scraps minimum interest rate on deposits
Bangladesh Bank on Tuesday scrapped the minimum interest rate it had imposed for deposits. From now on, banks will be able to set interest rates in line with their business interests and collect deposits accordingly. The central bank announced the decision through a circular today (Tuesday). The Banking Regulations and Policy Department
Banks will provide 7% interest on foreign currency deposits: Bangladesh Bank
Banks will pay more than 7 percent interest on resident foreign currency deposits (RFCD), Bangladesh Bank said. Apart from this, various benefits including sending money outside the country, and issuing multiple cards will be available from such accounts. The central bank has taken the decision to address the ongoing dollar crisis in
Global Finance’s report: BB governor gets D grade
Bangladesh Bank Governor Abdur Rouf Talukder was given a D grade as a governor in a ranking by New York-based Global Finance magazine due to the high inflation and devaluation of the taka. Meanwhile, the central bank heads of India, Vietnam and Switzerland got an A+ grade. "For Bangladesh Bank (BB),