Dhaka | Dhaka City | Bangladeshi News
Dhaka | Dhaka City | Bangladeshi News
Responding to a question about bank mergers, Chris Papageorgiou said that this initiative of Bangladesh Bank is needed because of the 61 banks of Bangladesh, some are very strong while others are not. The IMF team expressed satisfaction that Bangladesh has introduced the monthly fuel oil price adjustment system. Chris Papageorgiou commented, “The authorities have […]
Secondly, the policy interest rate will be increased by 50 basis points to 8.5 percent from the current 8 percent. Third, the six-month moving average rate treasury bill (SMART) system currently used to determine loan interest rates will be abolished. Instead, banks and financial institutions will set interest rates based on market demand, supply dynamics, […]
The New York Supreme Court in the United States has greenlighted Bangladesh Bank's case against Philippines' Rizal Commercial Banking Corp (RCBC) in connection with an $81 million cyber heist in 2016. Now, RCBC is studying its next steps, reports Inquirer.net, a local news outlet in the Philippines. Rizal Bank said it received a judgment from […]
Gas Transmission and Distribution Company Limited (GTCL) has two parallel pipelines to bring LNG from Maheshkhali. It comes up to Anwara in Chattogram. Of these, a maximum of 500 million cft can be moved through a 30-inch pipeline and 1.2 billion cft can be moved through a 42-inch pipeline. However, after Anwara station, the pipeline […]
The economy is undoubtedly under stress. High inflation, low foreign exchange reserves, weak remittances, dollar crisis, declining exports are some of the challenges faced by Bangladesh. The new government may show a confident and brave face, but they have many economic problems to contend with. The panelists made these comments at a BIPSS Policy Circle […]
The central bank – Bangladesh Bank – is buying dollars from other banks to increase its foreign exchange reserves, with the aim of meeting the requirements of the International Monetary Fund (IMF) loan plan. According to sources, despite the severe dollar crisis in the currency market, some commercial banks are selling dollars to the central […]
Bangladesh Bank’s foreign exchange reserves have seen an increase after receiving loan installments from the International Monetary Fund (IMF) and Asian Development Bank (ADB). Total or gross reserves have now reached US$25.82 billion. Using the IMF’s BPM 6 accounting methodology, reserves amount to US$20.40 billion. However, the central bank has not disclosed net or actual […]
When the Islamic bank, which brought in the largest volume of remittances, changed ownership and was accused of various frauds in providing loans, customers lost confidence in the bank and increasingly turned to the informal money transfer system of hundi. Did. This accelerated the pace of decline in foreign exchange reserves. Dollars have to be […]
In my personal life and writing I maintain a safe distance from politics. But now it has become clear that unless a political solution is found, the dark clouds over the economy will not go away. And so I will make an exception and discuss ‘excuses’ in politics. I will start with the opposition. They […]
However, an IMF source said Bangladesh’s net reserves are now less than US$17 billion. If Bangladesh Bank’s general reserve calculation method is taken into account, the foreign exchange reserves are still US$26.68 billion. The central bank’s remaining foreign exchange reserves can cover three months of import costs. Normally a country’s reserves should cover three months’ […]
Sources say that following Bangladesh’s request, the IMF may fresh fix the net reserves at USD 20 billion (USD 2000 crore), down from USD 18 billion (USD 1800 crore) at present. Under the loan terms, the IMF had set a reserve target of US$26.81 billion (US$2,681 crore) by June next year. This means the target […]
Why is Hundi so popular? Is the hundi rising because migrants want to receive a higher rate for the dollar than those offered by banking channels when sending money home, or because it has become necessary to buy and sell dollars informally within the country? The bottom line is demand. Hundi has increased because demand […]
Bangladesh Bank does not maintain reserves. It invests in various sectors. The central bank benefits from these investments. Many times one has to suffer loss due to this. A large part of the reserves are now in dollars. Its amount is about 18.45 billion dollars, which was 31.90 billion dollars in June last year. Apart […]
