According to the Finance Minister’s presentation, 11 of the top 20 defaulting companies are controlled by Chattogram-based S. Made by Alam Group. Its owner, Mohammad Saiful Alam (S Alam), acquired control of Islami Bank and Social Islami Bank as well as five other banks during the previous Awami League government. Collectively, they withdrew more than […]
Janata Bank’s default rate is 70 percent, and Basic Bank is in second place with 65 percent. Additionally, the default rate of BDBL is 39 percent, Rupali is 38 percent, Agrani is 36 percent and Sonali Bank is 15.35 percent. It was told in the meeting that last year banks had recovered 41.68 billion taka […]
The allocation for the education sector in the proposed budget is also quite disappointing. A budget allocation of 947.1 billion taka has been proposed for the Ministry of Education and two divisions under the Ministry of Primary and Mass Education. Although the allocation saw a slight increase in size compared to the previous fiscal year, […]
The central bank had in June asked four state-run banks to bring down default loans to within 12 per cent as part of their loan conditions from the International Monetary Fund (IMF). The banks are – Sonali Bank, Agrani Bank, Janata Bank and Rupali Bank. However, none of the banks have been able to bring […]
The former minister has four sons – Mujibur Rahman, Zahidul Islam, Qamarul Islam and Wahidul Islam. Mujibur Rahman is the managing director of Sanowra Dairy Foods Limited, a company owned by Nurul Islam, and three others are directors of the same company. Court bench assistant Rezaul Karim confirmed this to Prothom Alo in the evening.
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 […]
National Bank is one of the first generation banks in the private sector of Bangladesh. When it began operations in 1983, the bank's first chairman was Azizur Rahman Mallick, the founding vice-chancellor of Chittagong University and former finance minister. Although he did not own any shares in the bank, the investors initially kept him on […]
The bank's top loan defaulter is Chattogram's Muhib Steel and Ship Recycling Industries, owned by Mujibur Rahman alias Milan. He has reportedly been hiding abroad for a long time. The total debt of the company is Tk 1.47 billion (Tk 147 crore). Khulna's Mimu Jute Mill, Mullik Aquaculture and Monmi Agro are in the bank's […]