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

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

HSBC celebrates journey towards innovation

The Hongkong and Shanghai Banking Corporation (HSBC) Bangladesh jointly with Bangladesh Bank and the National Board of Revenue (NBR) has opened up new opportunities for its clients through enabling Online Statutory Payments (VAT, VDS, Duty) and Paperless Trade. HSBC, taking a lead in both forte, has played an instrumental role in

BB creates Tk 5000cr fund to boost food output

Bangladesh Bank has formed a refinance scheme of Tk 5000 crore to boost food production and strengthen the country's food security. Farmers can take loans from this fund at a 4 percent interest rate. They can borrow from this fund for a maximum of 18 months with a grace period

Default loans jumps 7.29pc in Sept qtr

The non-performing loans (NPLs) in the country’s banking sector rose by Tk 9,139 crore, 7.29 percent in three months to September 30 this year, banking sources said. The amount of NPL at the end of September 2022 stood at Tk 134,396 crore, which was Tk 125,257 at the end of

BB asks banks to provide Tk 107 per dollar in remittances

Bangladesh Bank has asked banks to provide Tk 107 against per US dollar inward remittance. A remitter will now get Tk 107 per dollar, even if they send remittance directly through banks.Currently, remitters are getting Tk 99.5 per dollar through the banking channel. Remittance flow through banks fell drastically in

Suspicious transactions up by 62.32pc in FY22: BFIU

Despite strengthening monitoring to stop money laundering, suspicious transaction teport (STR) has increased by 62.32 percent in the fiscal year 2021-22. According to a report of Bangladesh Financial Intelligent Unit (BFIU), a concern of Bangladesh bank, 8571 STR occurred in FY22; it was 5280 in FY21. In a fiscal year,

BRAC Bank extends financing support under SEIP

BRAC Bank has extended financing facilities to up-and-coming entrepreneurs who have been given extensive training under the Skills for Employment Investment Program (SEIP), a press release said Monday. SEIP is an entrepreneurship development initiative of Bangladesh Government and Asian Development Bank, coordinated by Bangladesh Bank. BRAC Bank is the first bank among

BB to go slow in following IMF to calculate forex reserves

The Bangladesh Bank has recently agreed to calculate foreign exchange reserves following the international standard as advised by the International Monetary Fund (IMF), but the process will be slow considering it as a national sensitive issue, an official said on Sunday. As per IMF suggestions, the central bank must follow the

IMF team begins talks with BB on $4.5 loan

Negotiators from the International Monetary Fund, now in Dhaka to discuss a $4.5 billion loan to Bangladesh, sat with Bangladesh Bank officials on the second day of their visit Thursday. The central bank governor Abdur Rouf Talukder opened the talks at 9:30 am at Bangladesh Bhaban.  Deputy Governors Kazi Sayedur Rahman