Wednesday , 20 October 2021
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Category Archives: Banking News

Moon Group Chairman Mizan arrested over Tk 3 b loan fraud Moon Group of Industries Chairman Mizanur Rahman has been arrested in a case over embezzlement of nearly Tk 3 billion in loans from Agrani Bank. Anti- Corruption Commission (ACC) officials nabbed him from Dhaka’s Dhanmondi around 9pm on Wednesday, ACC spokesperson Pranab Kumar Bhattacharya confirmed the matter. Rahman, also the Moon Group Managing Director, was arrested as an accused ... Read More »

BB sets forex rules for economic zones Bangladesh Bank yesterday issued a new notice on foreign exchange regulations for enterprises and developers in planned economic zones as the government seeks to attract more foreign  investors. The foreign exchange regulations applicable for units in the existing export processing zones will also be applicable for entities in EZs, if not otherwise directed by the BB. The central bank ... Read More »

Militancy: BB wants bank info on 18 Bangladesh Bank (BB) wants account information on 18 people whose names have come up in the media in connection with militancy links and terror incidents. Read More »

Mahia Juned made first female DMD of City Bank

Banking Desk Mahia Juned has recently been promoted to the deputy managing director (DMD) of City Bank. She is the first female DMD in the bank’s history of 34 years, the bank said in a statement. She also became the first female member of the bank’s management committee in 2013. Prior to the promotion, she has been serving the bank ... Read More »

Cautionary stance on hard loans The government has taken on a cautionary approach for hard-term external borrowing to mitigate future risks even though there is no longer such condition from the International Monetary Fund. From now, the government has decided to consider foreign loans with grant element lower than 35 percent to be hard-term ones. The IMF set the condition in its Extended Credit ... Read More »

Philippine central bank fines Rizal Bank $21m on BB cyber heist The Philippine central bank said on Friday it will fine Rizal Commercial Banking Corp (RCBC) 1 billion pesos ($21.33 million) in relation to the Bangladesh Bank cyber heist.  The central bank said in a statement that it was the largest amount it has ever approved “as part of its supervisory enforcement actions” on a bank. RCBC said separately that ... Read More »

Sonali Bank stops auction of Salman F Rahman’s property Sonali Bank was blocked from auctioning off mortgaged property owned by Salman F Rahman despite all preparations, due to a last-minute stay order from the High Court. The auction was scheduled to be held yesterday at the state-owned commercial bank’s headquarters in Motijheel from 10am to 3pm, but has now been called off after the court order arrived on ... Read More »

NCC Bank gets New EC Chairman The Board of Directors of NCC Bank Ltd. has recently elected its Director and former Chairman S. M. Abu Mohsin as Chairman of the Executive Committee of the Board of Directors.Mohsin was born in a respectable family of Chittagong in the year 1952. His father late S. M. Mozaherul Haq was the founder of Mozaher Group of Industries. A ... Read More »

UCB signs agreement Additional Managing Director of United Commercial Bank Limited (UCB) M. Shahidul Islam and Chief Financial Officer of bKash Moinuddin Mohammed Rahgir signed an agreement on behalf of their respective organizations recently. Managing Director of UCB Muhammed Ali and Chief Executive Officer of bKash Kamal Quadir were also present in the signing ceremony. Read More »

New York Fed asks Philippines to recover BB stolen money Bangladesh Bank recover the $81 million that was stolen by hackers in February from its account held at the Fed, boosting Dhaka’s efforts to retrieve the money. In a letter sent on June 23, the New York Fed’s General Counsel Thomas Baxter asked Elmore O. Capule, general counsel for the central bank of the Philippines, “to take all appropriate steps ... Read More »