Bangladesh Bank (BB) has raised the interest rate on borrowing from the Export Development Fund (EDF). The central bank on Wednesday fixed 1.0 per cent per annum to 1.5 per cent for Authorized Dealers (ADs) while the ADs will charge 3.0 per cent per annum on their USD loan disbursement to
Tag: BB
Manila court dismisses RCBC defamation case against BB
A Philippines court has dismissed a defamation case filed by Rizal Commercial Banking Corp (RCBC) against Bangladesh Bank for linking it to the biggest cyber heist in the world. The Philippines court dismissed the case on Jun 30 and Bangladesh Bank received the documents on Wednesday, said Bangladesh Bank Executive Director
National Bank gets BB’s sustainability rating award
National Bank Limited has received a certificate of ‘Sustainability Rating Recognition 2020’ at the head office of Bangladesh Bank on June 30, 2022, a press release said Thursday. Fazle Kabir, Governor, Bangladesh Bank handed over the certificate to Mehmood Husain, MD and CEO of the bank. The award is for
BB tightens belt on forex reserve
The central bank has tightened spending on the foreign exchange reserve to judiciously meet the cost of importing essential commodities and fuel. As part of this move, Bangladesh Bank has imposed restrictions on loans for importing 27 types of goods, reducing import demand which has increased by 44 per cent in
Premier Bank gets BB’s sustainability rating award
Bangladesh Bank has recognized The Premier Bank Limited as one of the best sustainable financial institutions in Bangladesh, a press release said Monday. Bangladesh Bank Governor Fazle Kabir handed over the certificate of recognition to the DMD and CFO of Premier bank Sayed Abul Hashem, FCA, FCMA, in a program
Tk 948.72cr siphoned off from IFIC Bank
A total of Tk 948.72 crore was siphoned off from two branches of the IFIC Bank Limited through providing term loans to three dubious housing and real estate companies in gross violation of the banking rules, a Bangladesh Bank (BB) inspection revealed. The loans were disbursed to the three companies from
BB reverts to floating exchange rate as remittances fall
Bangladesh Bank on Thursday withdrew the fixed exchange rate of US dollar for banks allowing the market to decide the rate based on demand and supply. The central bank on Thursday backtracked on its earlier decision after the remittance from expatriates marked a fall and exporters failed to convert their bills
LankaBangla signs refinance deal with BB
LankaBangla Finance Limited has signed an refinance agreement with the Bangladesh Bank under the project “Supporting Post Covid-19 Small Scale Employment Creation Project” (SPCSSECP), a press release said Saturday. Executive Director of Bangladesh Bank, Nurun Nahar and Khwaja Shahriar, Managing Director and CEO of LankaBangla Finance signed the agreement on behalf
BRAC Bank signs refinance deal with BB
Bangladesh Bank and BRAC Bank have signed an agreement to provide refinancing facilities to the cottage, micro and small enterprises (CMSEs) run by returnee migrant workers, unemployed youth, and rural entrepreneurs and women business owners. BRAC Bank has signed an agreement with Bangladesh Bank to become Participating Financial institution under the
MBL signs deal with BB on refinance fund
Mercantile Bank Limited recently signed an agreement with Bangladesh Bank to avail Refinance Fund under ‘Supporting Post Covid-19 Small Scale Employment Creation Project (SPCSSECP)’, a press release said Wednesday. Abu Farah Md. Nasser, Deputy Governor, Bangladesh Bank was the Chief Guest and Dong Dong Zhang, Principal Financial Sector Specialist, ADB was