Bangladesh Bank (BB) Sunday announced ‘cautiously accommodative’ Monetary Policy Statement (MPS) for the second half of the current fiscal year 2022-23 (H2FY23).“BB’s monetary and credit programs for H2FY23 will pursue a cautiously accommodative policy stance to contain inflationary and exchange rate pressures, support desired economic growth, ensuring the necessary flow
Tag: BB
Islami Bank violates Shariah rules to borrow from BB
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
BB asks for actions by BASIC Bank to recover default loans
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 cuts banks’ power to waive interest on loans
Bangladesh Bank (BB) has curtailed the powers of the banks' board of directors to waive interest on loans without consultations with the relevant departments, while allowing mobile financial service (MFS) providers to repatriate export income and inward remittances. The central bank's directive came through two circulars issued separately by the
Bank accounts with Tk 1cr and above now 1,08,457: BB
Forex rate stable as BB tightens grip
Bangladesh Bank's move to curb foreign currency spending has resulted in stability in the market after a jump in hiking exchange rate over the last four months. Through several regulatory measures against some banks and money exchange houses, the volatile forex market is seemingly stable now. Banks' and kerb market's
Default loans of NBFIs rise 54.29pc
Default loans of Non-Bank Financial Institutions (NBFIs) rose 54.29 percent to Tk 15.936.42 crore in three months to June, 2022 compared to the same period last year, official sources said. The total amount of default loans of NBFIs was 23 percent of the total loans disbursed, according to the latest
bKash honoured by BB, DNCC
Bangladesh Bank (BB) and Dhaka North City Corporation (DNCC) have honored bKash for contribution as payment partner to the ‘Smart Bangladesh, Smart Haat’ during Eid-ul-Azha in six cattle markets of DNCC area, a press release said Thursday. DNCC Mayor Atiqul Islam handed over a crest to Major General Sheikh Md.
Banks miss disbursement target for CMSMEs stimulus loans
Despite the central bank's priority, banks have failed to achieve the stimulus loans (phase-2) disbursement target among cottage, micro, small and medium entrepreneurs (CMSMEs). According to the latest report of BB, banks have disbursed Tk14,746 crore against the target of Tk 19,340 crore for FY22, which is 73.77 per cent