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Category Archives: Banking News

BB signs deals with 10 more banks for green transformation fund

businessnews24bd.com Bangladesh Bank (BB) has signed separate agreements with 10 more private banks to facilitate fund for a long-term financing under the “Green Transformation Fund for Export-oriented Textile and Textile Products and Leather Manufacturing Industries”. Under the deals, the ten banks – Al-Arafah Islami Bank Limited, Bank Asia Limited, Exim Bank Limited, Modhumoti Bank Limited, Mutual Trust Bank Limited, NCC ... Read More »

3 banks to open branches in Saudi Arabia

businessnews24bd.com The central bank has given permissions to three commercial banks to operate in Saudi Arabia, the biggest destination of Bangladeshi migrants, to help workers send their money home easily through the banking channel. The Saudi government recently agreed to allow Bangladeshi banks to open branches there, in response to Prime Minister Sheikh Hasina’s request during her visit to the ... Read More »

Dead man gets loan from Krishi Bank!

businessnews24bd.com State-owned Bangladesh Krishi Bank (BKB) has been extending loans for the past four years to a company, in the favour of a man who died five years ago.  The bank’s documents even have the signature of the dead man — Jagannath Dey, who had been once the public works secretary. The bank’s Karwan Bazar branch carried out this surreptitious ... Read More »

Sonali, Brac Bank top client harassment complaint list

businessnews24bd.com The state-run Sonali Bank has topped the list on complaints of client harassment with Brac Bank in second position, says a Bangladesh Bank report.  The regulator’s governor Fazle Kabir revealed the report on client harassment prepared for the 2015-16 fiscal year on Tuesday. According to the report, a total of 4,530 clients of the country’s 48 banks filed formal ... Read More »

Bank deposits rise despite falling interest rates

Bank deposits maintained a robust 13 percent growth year-on-year in December, despite declining interest rates, reports The Daily Star. Bankers and analysts attributed the deposit growth to a lack of popularity of alternative investment tools available in the market. The ease of converting deposits to cash and its safety also encourages people to park their money in the banking system, ... Read More »

Sovereign wealth fund endorsed

businessnews24bd.com The government has decided to float a ‘sovereign wealth fund’ to utilise the country’s foreign exchange reserve in development purpose.  The cabinet on Monday approved the proposal on the fund which would begin with $2 billion. In the next 10 years, the authorised capital of the fund would be raised to $10 billion, according to the decision. The finance ... Read More »

Suranjit’s body taken to Sylhet

              The body of Awami League leader Suranjit Sengupta has been taken to Sylhet Shaheed Minar for paying last respect to him by local people, reports news agency UNB. A helicopter carrying his body reached Osmani International Airport around 10.35am on Monday. From Sylhet, the mortal remains of Suranjit will be taken to Sunamganj ... Read More »

Monetary policy may not spur pvt investment, growth: UO

businessnews24bd.com A private think-tank on Saturday cautioned that declining private sector credit growth resulting in stagnant investment and consequential unemployment may challenge efficacy of strategies of the just-announced monetary policy. “Without increasing quality, a mere target of growth in private sector credit at 16.5% for the second half of the current fiscal year may prove ineffective in boosting private investment ... Read More »

Muhith asks BB governor to explain Islami Bank reshuffle

businessnews24bd.com Finance minister AMA Muhith has asked the Bangladesh Bank governor to explain how massive reshuffle took place at the board of Islami Bank Bangladesh Limited (IBBL) without the bank’s foreign stakeholders knowing about it. Talking to journalists at the secretariat on Thursday, Muhith said, “It’s a matter of grave concern.” “I thought things were different. The immediate past president ... Read More »

Global banking rules’ agreement ‘once dust settles’ in US

         Banking Desk An agreement on new global banking rules should wait until the new US administration has made its approach clearer, the chairman of European Union finance ministers said on Friday. Disagreement between the EU and United States has halted for months efforts by the Basel Committee of global financial regulators, which oversees US, European and ... Read More »

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