Md Mehedi Hasan

The five banks slated for consolidation are First Security Islami Bank, Union Bank, Global Islami Bank, Social Islami Bank and Exim Bank.

Central bank approves private entities to run credit bureaus

The financial health of First Security Islami Bank PLC has turned so dire that it is now paying staff salaries directly from depositors’ money, according to a Bangladesh Bank (BB) document.

Between 13 July and August, the central bank bought $948 million from commercial banks through seven auctions

Low development spending leads to a sharp decline in government borrowing

Nine non-bank financial institutions (NBFIs) out of a total of 35 are likely to be liquidated in the interest of depositors, making it the first such incident in the financial sector.

Banking sector's asset quality declines as distressed loans balloon to Tk 7.56 lakh crore

BB officials said the central bank decided to set up an office at Sena Kalyan Bhaban in Motijheel to oversee the process.

In August last year, when the current governor took charge of the central bank, basic banking services were in turmoil. In parts of Dhaka, ATMs were out of service, and some cash-strapped banks were unable to honour cheques for as little as Tk 5,000.

Down payments start at 1% with grace periods reaching 3 years

Central bank halts Binimoy services over alleged contract breach and irregularities

The country’s balance of payments returned to a surplus in the fiscal year (FY) 2024-25, ending a three-year spell of deficits.

The central bank is set to unveil its latest monetary policy for the first half of the fiscal year (FY) 2025-26 tomorrow, as inflation slows but private sector credit growth hovers at multi-year lows, underscoring the fragility of the country’s economic recovery.

Bangladesh’s goal of a cashless future is colliding with failed projects, user mistrust, and an economy that thrives on cash

Fraudulent trade transactions are one of the key reasons behind the rise in non-performing loans (NPLs) in Bangladesh’s banking sector, creating a dangerous feedback loop that undermines financial stability and enables trade-based money laundering (TBML), according to a study by the Bangladesh Institute of Bank Management (BIBM).

The reviews, initiated in January with backing from the ADB, expose deep-seated financial mismanagement at those banks

After years of depreciation that saw the taka lose nearly 30 percent of its value against the US dollar since the Covid-19 pandemic, the local currency is finally showing signs of strength.

Local currency taka has started to gain strength against the US dollar for the first time in several years, as a steady inflow of foreign currency drives down the official exchange rate.

As of December last year, they disbursed Tk 25,808 crore in loans against collateral worth Tk 6,899 crore, according to the BB report

Unfortunately, much of our development narrative is undermined by corruption, nepotism, lack of law enforcement, and policy inconsistency.