Worker outflow to Saudi Arabia climbs but remittance falls
The outflow of migrant workers from Bangladesh to Saudi Arabia surged around four times in the last three years but remittance earnings from the country have kept falling, official figures showed.
29 August 2023, 00:00 AM
Confidence crisis in financial sector deepens
Bangladesh’s financial sector is struggling to win back people’s trust mainly due to the deterioration of some key indicators amid a lack of good governance, irregularities and lighter punishment for wrongdoers, according to analysts.
28 August 2023, 00:00 AM
16 non-banks weighed down by high NPLs
Nearly half of non-bank financial institutions (NBFIs) saw a third of their loans turn into non-performing ones at the end of March 2023, which gives an indication of the tough times the sector was going through mainly due to massive irregularities in 8 to 10 companies.
27 August 2023, 00:00 AM
NBFIs with lower bad loans
Although most non-bank financial institutions (NBFIs) in Bangladesh are struggling with a high rate of non-performing loans (NPLs), some of them are bucking the trend by maintaining a lower ratio.
27 August 2023, 00:00 AM
Listed NBFIs log lower earnings in January-June
All of the listed non-bank financial institutions (NBFIs) in Bangladesh that published their financial reports for the January-June period of the current calendar year reported lower earnings due to reduced interest income, among other reasons.
25 August 2023, 00:00 AM
10 listed NBFIs leave investors in dark
Seven months have passed since the world bid adieu to 2022, but almost half of the listed non-bank financial institutions (NBFIs) in Bangladesh have not published their financial statements for the year, breaching securities rules.
23 August 2023, 00:00 AM
Microfinance sector’s NPL nearly doubles
Microfinance institutions (MFIs) in Bangladesh witnessed an 85 percent year-on-year jump in non-performing loans in 2021-22 as borrowers struggled to pay back owing to the impacts of the coronavirus pandemic and the economic slowdown, official figures showed.
16 August 2023, 00:00 AM
Why foreign banks shun stock market
Nine foreign banks operating in Bangladesh hardly invest in the stock market owing largely to irregularities, speculation-driven investments and an inadequate number of well-performing companies that have gone public.
14 August 2023, 00:00 AM
Deposit growth plunges in Islamic banks
Deposit growth of shariah-based banks in Bangladesh plunged in 2022 mainly due to lower confidence among savers after a number of scams in the sector were unearthed by the central bank.
13 August 2023, 18:00 PM
Stock market in a bad patch for floor price
The stock market of Bangladesh has been going through a bad patch for a year due to the presence of floor price, with political and macroeconomic uncertainties worsening the situation.
12 August 2023, 18:00 PM
Can Bangladesh hit development goals with scanty R&D?
Bangladesh’s economy has been growing at a striking rate in the last one decade on the back of low-paid workers in the manufacturing and service sectors but innovation has played insignificant role behind the development journey.
10 August 2023, 00:00 AM
Banks’ profits hit by lower income from forex market
The combined profits of 35 listed banks in Bangladesh dropped 9 percent year-on-year to Tk 4,160 crore during the first half of 2023 as volatility in the country’s foreign exchange market has curbed their commissions from forex dealings.
6 August 2023, 00:00 AM
Banks’ Tk 16,000cr stock investments remain stuck for floor price
Banks’ investments of more than Tk 16,000 crore have remained almost stuck in the stock market for the last one year owing to a thin presence of buyers amid the floor price, which has hit lenders’ bottom line and brought down their liquid assets.
3 August 2023, 00:00 AM
Insurance claim settlement far below average
Claim settlement in the insurance sector in Bangladesh stood at 67 percent in 2022, highlighting bad investments and non-compliance that prevented insurers from attaining a higher ratio, data from the regulator showed.
2 August 2023, 00:00 AM
Bright spots in insurance claim settlement
Bangladesh’s life insurance sector has always struggled in claim settlement, but the sector still has some good companies who are bearing the torch for all with faster fund repayment and good corporate governance.
1 August 2023, 18:00 PM
Insurers that are struggling to settle claims
A number of life insurance companies in Bangladesh struggled to settle claims in 2022 due to a lack of liquidity resulting from bad investments and fund embezzlement by their chairmen and directors.
1 August 2023, 18:00 PM
Most listed MNCs post higher profits despite headwinds
Most of the listed multinational companies operating in Bangladesh witnessed higher profits and sales in the April-to-June quarter despite persisting economic challenges at home and abroad, inflationary pressures and higher raw materials prices.
31 July 2023, 18:00 PM
Speed, Sustainability, and Superior Service
Once, the banking sector was meant for physical presence in the branch, and waiting in a long queue to deposit and withdraw funds.
28 July 2023, 10:40 AM
‘Japan can play a vital role in renewable energy’
FBCCI president says
23 July 2023, 12:18 PM
‘Coordinated efforts needed to diversify export market’
To diversify export destinations, Bangladesh needs to take up a comprehensive plan and coordinate efforts focusing on every country that bears potential, said Md Fazlul Hoque, former president of the Bangladesh Knitwear Manufacturers and Exporters Association.
22 July 2023, 18:00 PM