Tag: Bangladesh Bank

Pubali Bank signs deal with BB

- Times Report -

Pubali Bank Limited has signed an agreement with Bangladesh Bank for disbursement of loans under the Tk 5,000 crore refinancing scheme aimed at ensuring food security of the country, a press release said Sunday. Mohammad Ali, MD (current charge) of Pubali Bank Limited, and Md. Abul Kalam Azad, director, agriculture

Islami Bank violates Shariah rules to borrow from BB

- Kazi Taznin Nahar -

The Islami Bank Bangladesh Ltd. (IBBL) has borrowed Tk 8,000 crore from Bangladesh Bank (BB) violating the Shariah rules to tackle liquidity crisis. BB sources said the IBBL has been suffering from liquidity crisis for quite few months after dubious lending to some ghost companies with fake addresses. The bank also failed

BB creates Tk 10,000cr export facilitation fund

- Times Report -

Bangladesh Bank (BB) has created an export facilitation fund of Taka 10,000 crore to support export-oriented firms. Under the fund, an exporter will be allowed to take a loan of a maximum of Taka 200 crore from the fund, which is a pre-finance scheme by nature, according to a BB circular. As

BB Heist: Probe report filing deferred to Feb 14

- Times Report -

A Dhaka court on Sunday fixed February 14 for submitting the probe report in a case filed over the incident of cyber heist of $101 million from Bangladesh Bank's account in 2016.With this, the submission of the probe report in the case has been deferred for the 69th time.Dhaka Metropolitan

BB asks for actions by BASIC Bank to recover default loans

- Times Report -

Bangladesh Bank has asked troubled BASIC Bank to make an action plan for the recovery of default loans and the funds that went out through lending irregularities. Central bank spokesman Mezbaul Haque said on Wednesday that Governor Abdur Rouf Talukder sat with the chairman, the managing director and other top executives

BB sees gross violation of rules by NRBC Bank

- Nadira Tasnim -

Bangladesh Bank’s (BB) inspection team has found gross violation of banking rules by the NRB Commercial (NRBC) Bank Ltd., with its Chairman Pervez Tamal and Managing Director Golam Awlia at the helm of all these irregularities, official sources said. According to the inspection report, the bank’s MD & CEO signed an

BB to formulate monetary policy twice a year

- Times Report -

Bangladesh Bank (BB) has again decided to formulate monetary policy twice a year as per the advice of the International Monetary Fund (IMF).The central bank in a meeting with economists on Monday took the decision. As part of this, the monetary policy will start formulation for the second half of

BRAC Bank, BB hold SEIP training programme

- Times Report -

BRAC Bank in partnership with Bangladesh Bank started a month-long training programme to groom new and promising entrepreneurs of the Chattogram Hill Tracts region, a press release said Thursday. BB has initiated the capacity-building initiative under the Skills for Employment Investment Programme (SEIP) to nurture the up-and-coming entrepreneurs in the cottage,

BB allows MFS providers to bring remittances

- Times Report -

Bangladesh Bank has allowed mobile financial service (MFS) providers to bring inward remittance, in order to increase remittance inflow. The foreign exchange policy department of Bangladesh Bank issued a circular in this regard on Tuesday. According to the circular, authorized dealers can make drawing arrangements directly with exchange houses abroad

BB allows foreign firms, JVs in EZs to borrow in taka

- Times Report -

Bangladesh Bank (BB) has allowed foreign firms and joint ventures (JVs) located in the economic zones (EZs) to take working capital loans in taka from the domestic banking system for their operations catering for the local market. "Industrial enterprises operating in the domestic processing areas of the economic zones do not