Bangladesh's banking sector is grappling with bad loans and significant losses, despite once being a consistently profitable industry. The latest quarterly financial reports reveal that nine banks collectively lost Tk1,663.38 crore in the first quarter of the fiscal year 2024-25. According to economist Prof Abu Ahmed, unchecked corruption, misuse of regulatory frameworks
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Tk 1,13,245 lakh crore laundered abroad: CID starts investigation against S Alam Group
The Criminal Investigation Department (CID) has launched an investigation into Md Saiful Alam, the owner of S. Alam Group, and his associates under the Money Laundering Act. The investigation involves allegations of fraud, forgery, over-invoicing, under-invoicing, and organized crimes through hundi operations, which have reportedly led to the laundering of
Gold price drops by Tk 1,750 per bhori
The price of gold has decreased by Tk 1,750 per bhori following a reduction in the price of pure gold in the local market. Now, the price of 22-carat (11.664 grams) gold has become Tk 1,10,691 per bhori. Bangladesh Jeweler’s Association (BAJUS) standing committee decided that in a meeting on Thursday (January