Tag: loan
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'Pay-Later' service in bKash app with Digital Nano Loan from Citibank
The interest rate of 'Nano Loan' is determined on a daily basis with the help of technology. As a result, customers can repay the loan even before the maturity date without any early settlement charges. In such a situation, they will have to pay interest for the number of days for which the loan has…
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Government plans to sign loan agreement worth Tk 1000 billion with development partners
A staggering US$21.82 billion, which is half the total funds in the pipeline, is now held by the three major donor agencies and countries – the World Bank has US$7.66 billion; The Asian Development Bank has the highest at USD5.71 billion and Japan has the highest at USD8.25 billion. Furthermore, China and India committed to…
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AIIB to increase financing to Bangladesh: Climate finance partnership under way
Noting that Bangladesh is the fifth largest borrower of AIIB with a sanction of about US$3.5 billion, Mishra said: “We are primarily an infrastructure finance bank. Therefore, we also want to be a partner in the infrastructure development of Bangladesh. Because, with the commencement of the new metro rail line, the country is rapidly developing…
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PM Hasina announces offshore gas extraction to tackle energy shortage
The Prime Minister further said that the government has focused on controlling the current war induced inflation and reducing hardship for the people. “For this purpose, we have laid emphasis on increasing all types of production.” ITFC CEO Engineer Hani Salem said they will provide all possible support to realize Sheikh Hasina's 'Smart Bangladesh' vision…
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Increasing burden of government debt: impact on revenue collection and economy
Over the past decade, the amount of domestic and foreign debt as a proportion of revenue collected by the NBR has increased by nine percentage points, an analysis of NBR and Finance Ministry data shows. This means that government borrowing is increasing every year. The trend of borrowing has been high for the last three-four…
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Rising Cash Withdrawals and Banking Sector Challenges in Bangladesh: Analysis and Insights
According to monthly data from Bangladesh Bank, customers withdrew about Tk 65 billion in December 2023, thus taking the cash outside banks to about Tk 2.55 trillion at the end of December. Bankers said cash transactions increased in December ahead of national elections in January. Apart from this, due to inflation people are also spending…
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Money Printing Debate: Bangladesh Bank’s Controversial Policy and Economic Impact
These contradictory statements were put forward in a seminar titled ‘A holistic assessment of Bangladesh’s economy in six months from the private sector perspective’. Dhaka Chamber of Commerce and Industries (DCCI) organized the seminar at its Motijheel office. Advisor to the Prime Minister on Economic Affairs Mashiur Rehman was the chief guest at the event…
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Metro Rail: It takes 45 years to recover construction costs
According to DMTCL sources, if the metro rail runs at full capacity, a total of 500,000 passengers will travel in it every day and the monthly income will be between Tk 7.20-7.30 billion. If fares remain unchanged, it will take at least 45 years to recover the construction cost of the metro rail from ticket…
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China suddenly slowed down loan issuance
Overall, China released US$1.13 billion as line of credit for Bangladesh in FY 2022-23. After talking to ERD officials, it was found that China gives loans to Bangladesh in both dollars and yuan. However, loan repayment in yuan is relatively low as Bangladesh is more interested in taking loans in dollars. Speaking to Prothom Alo,…
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Foreign debt pressure on Bangladesh is increasing amid dollar crisis
The pressure of foreign debt repayment has increased amid the current dollar crisis. Payment of installments of huge loans taken bilaterally on tough terms from Russia, China and other development partners has started. As a result, the loan repayment amount is increasing rapidly and will increase further in the coming days. The amount of foreign…
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Economy: New year, old challenges
Economy: New year, old challenges
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Bangladesh’s external debt rises to $97 billion: World Bank report 2022
The report says countries eligible to borrow from IDA may face a tough ride in the coming years: interest payments on their total external debt stock have quadrupled since 2012, the highest level ever. has reached US$23.6 billion. As interest rates rose in advanced economies, private lenders chased the money in 2022: They largely withdrew…
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BB signs agreement with 6 banks for long-term dollar loans for exporters
Bangladesh Bank (BB) has signed agreements with six private commercial banks for the Bangladesh Bank-Long-Term Financing Facility (BB-LTFF). These banks are – Al-Arafa Islamic Bank PLC, IFIC Bank PLC, Mercantile Bank PLC, Madhumati Bank Limited, Meghna Bank PLC and NRB Commercial Bank PLC.
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Meghna Bank and Bangladesh Bank sign agreement for USD long term loan
BB Deputy Governor Nurun Nahar presided over the signing ceremony held at the central bank headquarters. Other senior officials of BB&Meghna Bank include Lisa Fahmida, Director, FSSSPD; Sohail RK Hussain, MD and CEO of Meghna Bank, Kimiwa Saddat were also present at the ceremony.
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Meghna Bank and Bangladesh Bank sign agreement for USD long term loan
BB Deputy Governor Nurun Nahar presided over the signing ceremony held at the central bank headquarters. Other senior officials of BB&Meghna Bank include Lisa Fahmida, Director, FSSSPD; Sohail RK Hussain, MD and CEO of Meghna Bank, Kimiwa Saddat were also present at the ceremony.