Dhaka | Dhaka City | Bangladeshi News
Dhaka | Dhaka City | Bangladeshi News
The entrepreneur said he closed his office in Niketan in the capital to reduce the cost of business operations and now runs his office at his factory in Rupganj, Narayanganj. He said that several years ago there were 25 paper cup manufacturing companies in the country, but currently, 4-5 factories are in operation while others […]
Currently, most of the cash is held by Dollar Eastern, Citi, BRAC, Dutch-Bangla, Prime, Pubali, Standard Chartered, HSBC, Islami and some other banks. In addition to USD, clients can open RFCD accounts for Pounds, Euros, Australian Dollars, Canadian Dollars and Singapore Dollars. Syed Mahbubur Rahman, managing director of Mutual Trust Bank (MTB), said that the […]
According to the capital markets regulatory body, BSEC, and financial reports of related companies, it is currently known that a total of Tk 2.2 billion of dividends are stuck in the country. These dividends belong to three multinational companies: Berger Paints Bangladesh, Marico Bangladesh, and Reckitt Benckiser Bangladesh. Among them, Berger’s has the highest amount […]
Bangladesh Bank has canceled the transfer of funds from normal banking channels to offshore units and asked banks to bring back the funds already transferred within the current year. In such a backdrop, banks can no longer use dollars borrowed from various foreign banks. The new system will allow them to deposit dollars with the […]
Banks are not able to provide dollars to repay the dues of foreign companies in the power and energy sector. Bangladesh had reserves of more than 48 billion US dollars, which has reduced to 25 billion US dollars. According to the International Monetary Fund (IMF) formula, the reserves are US$20 billion. Experts blame dependence on […]
Recent years have seen an increase in the prices of raw fish, leading to an increase in the price of dried fish. Traders and exporters said rising prices also affect dry fish exports. Traders of Asadganj said that many fishermen have given up fishing and started doing other work. Moreover, traders believe that selling of […]
Sirajul Islam, president of Bangladesh Fresh Fruits Importers Association, said, ‘The demand for dates is high during Ramzan. It takes about two months to import dates from countries like Algeria or Tunisia. But we cannot open the required LC right now. Plus we are paying a higher price for the dollar. “Additional duty has also […]
According to Section 7(a) of the Bangladesh Bank Order 1972, the Bangladesh Bank is entrusted with the task of holding and managing the official foreign reserves of Bangladesh. Foreign reserves serve as gatekeepers to repaying various countries’ import liabilities, and, as per the international standard, a country must have at least one foreign reserve that […]
As per the decision, the purchasing rate for remittance and export earnings will be reduced from Tk 110.5 to Tk 110. To meet import liabilities, the dollar may be priced at Tk 110.5, down from Tk 111. However, banks can provide an additional 2.5 percent incentive on remittances, allowing beneficiaries to receive a maximum of […]
Instructions for purchasing remittances at fixed price During a meeting last Wednesday, the Bangladesh Foreign Exchange Dealers Association (BFEDA) and the Association of Bankers, Bangladesh (ABB) decided to maintain buying of the dollar at Tk110.5 for remittances and export earnings, as practiced earlier. I went. With 5 per cent incentive, the maximum dollar price would […]
Normally, an apex body of bankers, the Association of Bankers, Bangladesh (ABB), and an organization of banks involved in foreign exchange, the Bangladesh Foreign Exchange Dealers Association (BAFEDA), decide the price of the dollar on the advice of the central bank. . Money changers usually buy US dollars from people returning from abroad, expatriates and […]
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’ […]
According to central bank sources, banks are regularly informing the central bank that remittances are being bought at higher prices. Furthermore, various foreign remittance and exchange house sources have confirmed the acquisition of remittances at prices higher than the announced rates. Officials in the treasury and remittance departments of at least six banks confirmed to […]
Bangladesh Bank (BB) earlier this month fined treasury heads of 10 banks Tk 100,000 each for selling dollars at higher prices. Monday was the last date for depositing the fine. However, officials of the concerned banks have appealed to the Central Bank to review the decision of penalty. The BB Board of Directors headed by […]
