Bangladesh Bank has suspended licences of seven money changers and served show-cause notices on 10 over their alleged involvement in trading the US dollar in the kerb market at prices higher than that prescribed. 

The seven are York Money Exchange Ltd, Zaman Money Changing House, Jeni Money Exchange, Standard Money Exchange Ltd, Mercy Money Exchange Co Ltd, JB Money Exchange, and Bengal Money Exchange.

Eastern Bank Ltd (EBL) has decided to sell 2.8 acres of land in the Purbachal area of Gazipur and the capital’s Bashundhara to adjust its fixed asset-to-paid-up capital ratio.

The change comes into effect today

Islami Bank Bangladesh PLC and Apollo Multispeciality Hospitals in Kolkata signed a memorandum of understanding (MoU) at Islami Bank Tower in Dhaka on Wednesday enabling discounts on medical services for the bank’s employees, their family members alongside cardholders. 

Pubali Bank Ltd and Software Shop Ltd (SSL) signed an agreement for integration of Shohoz online ticketing platform on Pubali PI banking app.

Jamuna Bank Ltd recently signed an agreement with Apollo Multispeciality Hospitals in Kolkata.

The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IsDB) Group, has arranged a syndicated murabaha financing facility worth of $40 million for Prime Bank Ltd.

The bank will pay Pran at 7%, but Pran will repay at an interbank repo rate

Mercantile Bank Ltd donated agricultural machinery, including power tillers, among farmers at Senbag Upazila Agriculture Office in Noakhali yesterday.

Social Islami Bank Ltd (SIBL) launched an instant tuition fees payment service styled “edupay” at the bank’s head office in Dhaka on Monday.

Southeast Bank Training Institute organised a daylong training programme, styled “Product Knowledge of Retail Loans, Assessment Tools, and Marketing Techniques”, at its office in Dhaka on Monday.

Standard Chartered Bangladesh has partnered with Kumudini Welfare Trust of Bengal (BD) to train and provide employment opportunities for the next generation of nurses of the country.

Bank Asia Limited in association with Bangladesh Bank have organised a certificate awarding ceremony in Cox’s Bazar recently to award 26 SME entrepreneurs, who took part in a monthlong training programme.

Padma Bank, formerly known as Farmers Bank, is going to get over two years, until April 2028, to clear a Tk 55 crore penalty for its failure to maintain the regulator-stipulated cash reserve ratio (CRR) from 2017 to 2019. 

Nagad wants to establish a digital bank

Companies are switching to the PLC (Public Limited Company) suffix in order to comply with the amended Company Act 1994

Funding risks and weaker profitability will likely test the sector's credit strength

Bangladesh Bank received 52 applications for the digital bank licence, with the majority of the forms coming in from the existing 62 banks -- when their current licence allows them to offer the same service already.

Genex Infosys Ltd, Navana Pharmaceuticals Ltd and Aramit Ltd have decided to invest in the proposed digital bank named UPAY Digital Bank PLC.