No gratuity as well, Bangladesh Bank says today

The US dollar sold by the central bank has surpassed the $12-billion mark in the ongoing fiscal year as it has had to pump the American greenbacks into the market in order to clear import bills. 

They also have to display BB's hotline number of 16236

The central bank took the decision to comply with IMF's loan conditions

The Bangladesh Bank has decided to implement a market-based interest rate from July, moving away from the 9 per cent interest rate cap on loans, an initiative that may help the central bank uses its policy rates effectively in its fight against higher inflation.   

A single company can’t have more than one representative director in the board of a non-bank financial institution (NBFI), said the Bangladesh Bank yesterday. 

The effort will also help in ensuring efficient use of power and fuel, the Bangladesh Bank said

Bangladesh Bank says today

She will be second female deputy governor of the banking watchdog

The central bank has allowed banks to open foreign currency accounts in the names of shipping companies, airlines and freight forwarders to support their global operations.

According to the Gender Equality Report of Banks and Financial Institutions

Approval of draft Bank Company Act gives hope but enforcement is key

Prices of groceries which witness peak demand during Ramadan, the holy month of fasting for Muslims, have swelled significantly year-on-year owing to hikes in import and transportation costs alongside the value of dollar.

Foreign banks operating in Bangladesh registered an 8.57 per cent growth in deposits in the October-December quarter of 2022, the highest since 2018, as many savers shifted their funds from local banks amid a confidence crisis. 

Greening the economy is a prerequisite for attaining sustainable development goals (SDGs).

Russia has proposed a direct payment system bypassing the global standard SWIFT to settle the dues for Rooppur nuclear power plant as the Soviet nation looks to navigate the sanctions from the West following the Ukraine war.

The import cost of pulses in Bangladesh is on the rise due to increased consumption, inadequate domestic production and higher prices in the international markets. 

Sick industries have to apply to respective banks by June 30 to get the benefit

Bangladesh Bank’s foreign exchange reserves invested in US dollars declined 34 per cent year-on-year to $23.63 billion in February as the country is heavily dependent on the American greenback to settle payments for global trade.

Weak banks in Bangladesh with small holdings of government securities, which are used to mobilise funds either from the central bank or peers, may become more vulnerable in the days to come, Moody’s Investors Service warned yesterday.