Initiatives are underway to enhance Bangladesh Bank's authority in resolving troubled banks and stabilising the financial sector, officials said. Several weak banks are deteriorating further due to liquidity being tied up with industries linked to the S Alam Group, which has almost defaulted. Bangladesh Bank, the country's central bank, recently disclosed that
Tag: BB
Individuals can purchase saving certificates worth Tk45 lakh
Bangladesh Bank (BB) Debt Management Department (DMD) on Tuesday issued a circular clarifying the amendment of the family saving certificate policy. The following paragraph has been substituted for Article 3 of the Family Savings Certificate Policy, 2009: Eligibility for purchasing savings certificates: The central bank said that any Bangladeshi aged 18 and above,
MDs of Bangladesh’s 5 crisis-hit banks sent on forced leave
The Managing Directors (MDs) of five crisis-hit banks have been placed on compulsory leave to facilitate an international audit, as instructed by Bangladesh Bank (BB), officials said. The directive is aimed at shariah-based banks owned by S Alam Group. First Security Islami Bank (FSIB) has already acted on this instruction, sending its
BB acknowledges failures, achievements in financial sector
Bangladesh Bank Governor Dr Ahsan H Mansur said on Sunday that Bangladesh has made significant progress in the development of its financial sector though there have been numerous shortcomings that necessitate a thorough self-assessment. "The banking sector of Bangladesh has progressed a lot. There is no doubt about it. On the
BB finds current account in virtual balance
Bangladesh Bank (BB) Governor Dr Ahsan H Mansur said the current account, a key component of the country's balance of payments, is maintaining a virtual balance after four months of the interim government. “There was a deficiency in the balance of payments, our reserve was falling, and our currency was depreciating
Country received $425mn remittances in 5 days of Oct: BB
UBL, BB holds meeting with borad of directors
BB in talks with IMF for extra $3 billion loan
Bangladesh is in talks with the International Monetary Fund for an additional $3 billion loan, according to BBC and Bloomberg reports. In an interview with Bloomberg, Bangladesh's new central bank Governor Ahsan H Mansur said the loan is needed to recover from the recent political turmoil that the country went through.
Banks’ CSR spending down by 18pc in 2023: BB
BB awards BRAC Bank as a top sustainable bank
BRAC Bank is again in the limelight as it is named as one of Bangladesh's top sustainable banks for the third consecutive year. Bangladesh Bank, the country's central bank, conferred this coveted recognition on BRAC Bank as part of its Sustainability Rating of 2022. The commendation traces back to the efforts