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Category Archives: Banking News

Rupali Bank MD reappointed

Banking Desk The tenure of Rupali Bank’s Managing Director M. Farid Uddin has been extended for another two-year term. The Ministry of Public Administration issued a letter (no. in this regard on last Tuesday, extending his tenure for next two year, effective from July 7 this year. M. Farid Uddin joined the Bangladesh Krishi bank on 1977 as a ... Read More »

Relaxation of loan provisioning policy by BB : Banks’ profitability to go up, businesses to thrive

Siddique Islam, The Financial Express The relaxation of loan provisioning policy by the central bank will help enhance profitability of the country’s commercial banks, Bangladesh Bank (BB) officials and bankers said Thursday. The BB earlier directed the banks first in June last to make provisioning arrangement against special mention account (SMA), representing a part of unclassified loans, at 5.0 per ... Read More »

AB Bank induction programme

M Wahidul Haque, Chairman of AB Bank, and M Fazlur Rahman, Managing Director, pose with the participants of an induction programme of the bank’s newly recruited management trainees in Dhaka recently. Photo: AB Bank Read More »

Mobile users cross 100 million The number of mobile phone users in Bangladesh crossed 100 million by the end of April, according to a Bangladesh Telecommunication Regulatory Commission (BTRC) press release. Bangladesh ended April with 101.205 million mobile subscribers, up from 99.871 million at the end of March, said the telecom regulator’s statement which was posted on its website on Thursday. Grameenphone led the ... Read More »

Online purchase:BB allows foreign exchange credit cards The central bank has allowed foreign currency credit card holders to spend unused travel allowance and $1,000 more for online purchases with each deal not exceeding $100. Bangladesh Bank Governor Atiur Rahman revealed the decision while talking to  our reporter on Thursday.   Read More »

Banks to get Tk 500cr addl fund In a  move to boost up the sluggish economy the central bank on Wednesday eased up loan provisioning and rescheduling rules. According to the central bank assessment, a reduction in loan provisioning requirement would create an additional Tk 500 crore investable funds to the banks. The rescheduling time has also been relaxed to six years instead of present four ... Read More »

NRB Bank starts journey NRB Bank Ltd yesterday has st arted  its journey to bring more investment to Bangladesh. The bank that brings together non-resident Bangladeshi investors from the UK, US, UAE, Australia and Italy started its operations with a Tk 400 crore paid-up capital. “The bank will accelerate the country’s economic growth,” Bangladesh Bank Governor Atiur Rahman said at the launch. New ... Read More »

UCBL signs deal with GHAIL

Agriculture  Desk United Commercial Bank Limited (UCB) and Golden Harvest Agro Industries Ltd (GHAIL) signed a syndicated term loan deal to the tune of BDT 70 crore for establishment of an Ice-cream plant in Gazipur at a local hotel in the city  on Sunday. Muhammed Ali, Managing Director of UCB and Ahmed Rajeeb Samdani, Managing Director of GHAIL signed the ... Read More »

Hands off Grameen Bank

Sherman says independence of microlender must continue Financial News Service Two Bangladeshi institutions — Grameen Bank and BRAC — serve as global models in the fight against poverty and suffering, Wendy R Sherman, US under secretary for political affairs , said yesterday. Both the organisations began as domestic efforts to empower the poor and assist the needy and both are ... Read More »

Scams hurting banking: analysts

Confidence has been eroding in the banking sector since the detection of Hall-Mark and some other loan scams in 2012, a senior Bangladesh Bank official said yesterday. The situation has forced the BB to impose stringent regulations to avert such scams, said MA Wadud, general manager of the BB’s Banking Regulations and Policy Department. “Now a bank takes three days ... Read More »