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
Tag: Bangladesh Bank
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),
BB didn’t get any notice over US restrictions
The Bangladesh Bank (BB) has not received any instructions regarding not settling transactions through the Asian Clearing Union (ACU), Bangladesh Bank Spokesperson Md Mezbaul Haque said Tuesday (26 September). Various reports in the Indian media said the US Office of Foreign Assets Control (OFAC) had instructed banks there not to settle
No official of Islami Banks can be on Shariah Board anymore
Bangladesh Bank has made a new guideline for Islami banks in which no official of banks can be a member of the Shariah Board, BB sources said. According to the existing guideline, Islami banks will form an independent Shariah Board. It only mentions the academic qualification of the members. The guideline
HC for probe into allegation on report on S Alam group
-The High Court on Sunday asked the authorities concerned to investigate the allegations brought against S Alam Group over "transferring money abroad and investing in foreign countries without permission from Bangladesh Bank" and submit the report within two months. The HC bench of Justice Md Nazrul Islam Talukder and Justice Khizir
BB working to normalise inflation, dollar crisis
Bangladesh Bank (BB) is moving forward cautiously with optimism to reduce the stress on the economy, which was created by the US dollar crisis and higher inflation. The central bank underscored such observations in a quarterly report on the economy. It said the economy remained under stress from external effects, including
Bengal Commercial Bank signs agreement with Bangladesh Bank
Bengal Commercial Bank signed an agreement with Bangladesh Bank for Green Transformation Fund (GTF) under refinance scheme of Tk. 50.0 billion to accelerate the sustainable growth of export and manufacturing oriented industries as well as aiming to establish Green Economy. Tarik Morshed, Managing Director & CEO of Bengal Commercial Bank
BB to announce new monetary policy soon
Bangladesh Bank will announce a new monetary policy this month, where measures for the single exchange rate of US dollar and market-based interest rate are getting priority. The monetary policy will also focus on the government's medium-term reform policy to bring stability to the macroeconomic sector, said a senior official of
Tk 240cr remains unclaimed with BB for 5 yrs
More than Tk 240 crore worth of deposits remained unclaimed with the Motijheel office of the Bangladesh Bank (BB) for five years deom 2018 to 2022, official sources said. Of the amount, the central bank deposited Tk106 crore with the government treasury, BB sources said. Bank officials said when a client dies