Thursday , 21 October 2021
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Category Archives: Banking News

Al leader hacked dead in Sirajganj]

 Sirajganj Correspondent A local leader of Awami League was hacked to death following previous enmity at Jahangirnagar village in Tarash upazila on Saturday night. The deceasee was identified as Altaf Hossain,35, organising secretary of AL Mathainagar union unit. Police said some miscreants attacked Altaf around 9 pm while he was returning home from a local market and chopped him indiscriminately, ... Read More »

Tk5,000 cr bailout planned for state banks

Financial News Service The Bank and Financial Institutions Division of the Finance Ministry is reviewing a three-year plan for state owned banks, especially the scam-hit BASIC Bank, as the government decides to disburse Tk5,000 crore to meet their capital shortfalls during the current fiscal year. In line with the International Monetary Fund’s conditions tagged with loans under the Extended Credit ... Read More »

BD-Bhutan MoU signed on money laundering , terrorist financing An MoU has been signed between Bangladesh Financial Intelligence Unit (BFIU) and the Financial Intelligence Unit of Bhutan to exchange information relating to money laundering and terrorist financing on  Wednesday in Macau. The MoU has been signed by Ms. Eden Dema, Deputy Governor, Royal Monetary Authority of Bhutan and M. Mahfuzur Rahman, Deputy Head, Bangladesh Financial Intelligence Unit and ... Read More »

BB cuts disbursement time to expedite remittance inflow In a bid to expedite remittance inflow Bangladesh Bank (BB) cut the disbursement time of remittance to the beneficiaries by a third of the current time- frame.The central bank in a directive issued on Wednesday asked all banks to disburse the remittance to the beneficiaries in two working days instead of current 72 hours or three-day time-frame. “The time ... Read More »

BRICS set up bank to counter Western hold

Financial News Service Leaders of the BRICS emerging market nations launched a $100 billion development bank and a currency reserve pool on Tuesday in their first concrete step toward reshaping the Western-dominated international financial system. The bank aimed at funding infrastructure projects in developing nations will be based in Shanghai and India will preside over its operations for the first ... Read More »

ACC yet to take action against BASIC Bank high-ups

The Anti-Corruption Commission is yet to take any step against the former chairman and the sacked managing director of BASIC Bank with regard to their alleged involvement in the embezzlement of Tk3,500 crore public fund from the state-owned institute. On the matter, the commission initiated an inquiry last year, but it is yet to make any visible progress. So far, ... Read More »

Citigroup pays $7bn to settle sub-prime mortgage probe

BBC Online Banking giant Citigroup will pay $7bn (£4bn) to US authorities to settle an investigation into risky sub-prime mortgages. Citigroup will pay $4bn (£bn) to the Department of Justice and $2.5bn for “consumer relief”. Consumer relief includes investment in affordable homes and mortgage relief. The settlement stems from the sale of securities made up of sub-prime mortgages, which were ... Read More »

Governor asks BASIC Bank to restore discipline Bangladesh Bank (BB) Governor Dr Atiur Rahman today asked the new chairman and acting managing director of the BASIC Bank to restore discipline in the bank. Restoring discipline in the Bank is important to regain confidence of its clients, the governor said when the chairman Alauddin A Majid and acting managing director Fazlus Sobhan of the troubled bank met ... Read More »

BASIC Bank: 36.55% capital locked in non-performing loans

The amount of non-performing loans of the scandal-hit state-owned BASIC Bank now stands at over Tk4,157 crore, or 36.55% of the bank’s capital, the finance ministry informed a parliamentary watchdog tasked to ensure transparency in all public entities. According to the paper presented by the banking division of the finance ministry at a meeting of the Public Undertaking Committee yesterday, ... Read More »

Portugal seeks to calm fears over bank

BBC Online Worries about the financial strength of the bank’s parent company hit global stock markets on Thursday. The central bank said investors had “no reason to doubt” the security of funds, and savers had “no need to be worried”. Restructuring plan On Thursday, shares in both Banco Espirito Santo (BES) and Espirito Santo Financial Group – which holds a ... Read More »