According to the central bank, the highest remittances in the country’s history came last March. At that time, emigrants had sent a total of 3.29563 billion dollars to the country. The second largest remittance came in December last year, when $3.2266 billion came into the country. The third largest remittance came last January, amounting to […]
Bangladesh Bank said they have three objectives: 1. To reduce total bank default loans, now slightly below 10 percent, to below 8 percent. 2. Reducing the default loan of government banks to 10 percent and the default loan of private banks to 5 percent, which are currently 22 percent and 7 percent respectively. 3. To […]
prothom hello , We see that the value of the dollar is increasing. Now the government has used the crawling peg system to devalue the taka. Many people say that this should have been done earlier. What do you say? Can this creeping peg measure make any difference now? Zahid Hussain There are questions about […]
As journalists reported that the Governor of Bangladesh Bank (BB) told them that the actual reserves (usable) are now US$13 billion, the AL Secretary General said, “Then, it would be better if you ask the Governor how much this (reserves) is.” Why did it come so low? This is not what we know. As far […]
According to Bangladesh Bank, the country received remittances worth US$900 million in the first 12 days of this month. Under the crawling peg method, the price of the dollar has been increased to 117 taka per dollar. Officials are expecting an increase in foreign income inflows as a result of this initiative. Moreover, he believes […]
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 […]