Bangladeshi banks can now maintain account in Chinese Yuan Renminbi (CNY) with their correspondent lenders or branches abroad to help local businesses settle foreign trade with that currency.

Businesses can now repay their loans taken from the Export Development Fund (EDF) in three instalments.

Bangladesh Immigration Police has barred FAS Finance and Investment’s former managing director, Pritish Kumar Sarker, from leaving the country because of his alleged involvement in financial scams.

Eastern Bank is going to issue a non-convertible unsecured floating rate fully-redeemable subordinated bond worth Tk 500 crore.

Bangladesh has to explore and formulate a long-term plan to overcome possible difficulties and trade challenges past the United Nations status graduation from a least developed to a developing country, said experts at a discussion. 

The Bangladeshi taka today depreciated against the US dollar, hitting Tk 96 on the interbank platform after the Bangladesh Bank had decided last week to allow the market forces to set the exchange rate of the local currency.

Muhammad Saifullah has been elected chairman of the shariah supervisory committee of Standard Bank at the 363rd meeting of the board recently.

National Bank Ltd has decided to raise $100 million by issuing foreign currency-denominated subordinated bonds in order to strengthen its capital base under Basel Ill guidelines. 

The 59th Foundation Training Course for the business officers of Channel Banking Division of Bank Asia has been completed recently. 

Bangladesh Bank today urged the Department of Cooperatives to take measures against illegal banking activities carried out by several cooperative societies.

Bangladesh Bank today said exporters can now retain value-added amount of export proceeds in US dollars for 30 days instead of 15 days.

Bangladesh Bank today asked banks to suspend their evening banking operation in order to reduce electricity consumption as part of the government’s austerity measures.

The Bangladesh Financial Intelligence Unit (BFIU) today asked banks to provide detailed information of accounts and transactions of Tabith M Awal along with three of his family members.

Bangladesh Bank today asked banks to reduce use of electricity and energy as part of the austerity measures taken by the government to contain the volatility in the foreign exchange market.

The central bank yesterday relaxed the rules on credit rescheduling and restructuring for the borrowers who have defaulted on the repayments of loans with non-bank financial institutions (NBFIs). 

Bangladesh Bank yesterday asked 27 banks to explain why they had allowed their credit card holders to spend dollars breaching a ceiling set by the foreign exchange rules. 

The Bangladesh Bank today asked 27 banks to explain why they had allowed their credit cardholders to spend dollars breaching the stipulated ceiling set by the foreign exchange rules.

The central bank yesterday relaxed the rules on credit rescheduling and restructuring for the borrowers who have defaulted on the repayments of loans with non-bank financial institutions (NBFIs).

The board of directors of export-oriented Envoy Textiles has been temporarily reconstituted until the disposal of a case filed by Abdus Salam Murshedy, former managing director and one of the founders of the company, along with some other directors, as per a High Court order issued last month.

Bangladesh’s remittance earnings crossed the $2-billion mark for the second consecutive month in August.