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Category Archives: Banking News

Bangladesh Bank increases ERQ account limit

Bangladesh Bank has increased the limit of foreign currency deposit in Export Retention Quota (ERQ) account, reports Bangladesh Bank Foreign Exchange Policy Department on Tuesday has said in a circular that ERQ account limit has been increased by 5 to 10 percent. ERQ account is the portion of export earnings that an exporter saves as foreign currency. With this ... Read More »

NBR seeks info on Transcom chief Latifur Rahman’s bank accounts, assets

The National Board of Revenue detectives are seeking details of accounts Transcom Group Chairman Latifur Rahman and his wife Shahnaz Rahman hold with banks, reports  The group owns Bangla daily Prothom Alo and English broadsheet The Daily Star. The NBR’s Central Intelligence Cell recently wrote to scheduled banks asking them to send information for the past seven years on ... Read More »

Bank Interest rates going down : BB Bangladesh Bank has said interest rates in the country have declined and banks are free to fix the level and structure of interest rates under the market-based interest rate policy, in a clarification issued Tuesday amid the ongoing debate on interest rates. In the statement, the central bank said the board of directors of different banks determine interest rates ... Read More »

Court rejects Fakhrul‘s bail and remand pleas

Political  Correspondent A Dhaka court has rejected the bail and remand pleas for BNP acting Secretary General Mirza Fakhrul Islam Alamgir. The court has also directed the investigation officer to interrogate him at the jail gate on May 23. The court of Dhaka Metropolitan Magistrate Ashok Kumar Datto passed the order on Wednesday morning after hearing on the three cases ... Read More »

Another 400 migrants rescued off Indonesian coast

About 400 refugees have been rescued by local fishermen in the Strait of Malacca, off Indonesia‘s Aceh province, after reportedly being turned away numerous times from the Thai and Malaysian coasts by authorities. Khairul Nova, a search and rescue official, said the rescue took place at 2am local time on Wednesday (19:00 GMT Tuesday) and those saved included woman and ... Read More »

Bank loan interest rate declines

The central bank says the rates of interest on bank loans have declined, reports    A media statement of Bangladesh Bank said on Tuesday: “The average interest rate was 12.23 percent in February. It dropped to 11.93 percent at the end of March.” The watchdog said the interest rate spread came under 5 percent because of its close monitoring. ... Read More »

Pakistan fined for slow over-rate in Dhaka Test

Pakistan has been fined for maintaining a slow over-rate during the second Test match against Bangladesh at Sher-e Bangla National Stadium in Mirpur which concluded on Saturday. Jeff Crowe of the Emirates Elite Panel of ICC Match Referees imposed the fine after Misbah-ul-Haq’s side was ruled to be two overs short of its target when time allowances were taken into ... Read More »

World Red Cross Day being observed The World Red Cross and Red Crescent Day is being observed today (Friday) in the country as elsewhere in the world. President Abdul Hamid and Prime Minister Sheikh Hasina in separate messages have greeted the people of the country on the eve of the day. Marking the day a colourful procession was brought out in the city. Chairman of ... Read More »

Central bank asks banks to give more loans to housing sector

  The Bangladesh Bank has asked the banks to increase loan flow to the housing sector to help it overcome the current crisis, reports Bangladesh Bank Governor Atiur Rahman issued the directive in a meeting with the chief executives of the banks on Thursday. The central bank organises the meeting of top bankers every three months. But this time ... Read More »

BB instructs banks to cut interest on loans

Commercial banks have not brought down lending rates, despite a cut in interests on deposits, says the Bangladesh Bank, reports   “Bangladesh Bank thinks it’s necessary to cut interest rates on loans to create an investment-friendly atmosphere in the country,” reads the minutes of a bankers’ meeting held on Apr 30 at the Bangladesh Bank. It also says that ... Read More »