Tag: loan
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People of which district take more loans
People of which district take more loans
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Additional revenue collection main concern
Additional revenue collection main concern
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Sri Lanka: IMF stops bailout loan due to government not meeting conditions
Sri Lanka was yet to finalize a restructuring plan with its private and bilateral lenders after defaulting on its $46 billion external debt in April last year. CBSL said it hopes the latest rate cut, which comes on top of two in June and July, will help revive the economy. “The financial sector is urged…
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Islamic bank provides Tk 7b loan to AnonTex’s closed factory
Some officials of the Islamic bank, speaking on the condition of anonymity, said that S Alam Group has started the process of buying some companies of Enontex. For this reason the loan was distributed in a hurry. But according to the rules of Bangladesh Bank, there is no legal provision to repay the loan of…
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Economy: Temporary solutions simply increase uncertainty
In fact, we made some mistakes in our policy making even before the current global economic problems emerged. For example, maintaining the taka-dollar exchange rate, relying excessively on a product such as fuel oil rather than increasing revenue income, and treating foreign exchange reserves as investment assets rather than as symbols of economic strength and…
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Pension scheme for providing loans and other financial facilities
Similar to traditional financial schemes, depositors will have the privilege of availing loans from Universal Pension Scheme to meet their immediate needs. The maximum loan amount will be 50 percent of the total deposit amount of the customer. However, there must be valid reasons for the loan application, such as meeting the cost of treatment…
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Government will buy 4 ocean going ships with Chinese loan
Bangladesh is all set to receive a new line of credit from China for the purchase of four ocean-going vessels, although it plans to scale it down due to rising costs. Officials initially planned to purchase six ships, but the high exchange rate of the US dollar and increased manufacturing costs prompted them to revise…
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Bangladesh seeks to abandon 4 more Indian LoC-funded projects
Multiple projects have been taken up under each LOC. As per the rules, a project proposal is first sent to the Exim Bank, once they approve it, the proposal makes it to the final list and allocation is done accordingly, but Bangladesh made it to that list due to various complications. Many projects have been…
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The pressure of foreign debt payments is increasing
This situation has arisen due to a decrease in the distribution of soft loans and an increase in the volume of high-interest loans. The pressure has further increased with the commencement of loan payments for the Rooppur Nuclear Power Plant. In addition, there is also the pressure of repayment of loans taken from China and…
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ADB mobilizes $261 million for Rampura-Amulia-Demra Expressway
ADB assisted in project structuring, negotiation, tender execution and provided assistance for commercial award and financial closure, the release said. “We have partnered with public authorities in Bangladesh to prepare, market and attract private sector partners to design, build, finance, operate and maintain this expressway,” said Cleo Kawawaki, Head of ADB Market Development and PPP…
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Biden-McCarthy loan talks to resume after new default warning
As the X-date draws closer, Democrats in Congress have begun to consider a number of options, including using an arcane congressional process to bypass McCarthy. He has also considered asking Biden to call for 14th The amendment seeks to unilaterally raise the debt limit, which some legal scholars believe would simply allow the Treasury to…
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defaulted loans keep piling up
According to Bangladesh Bank records, at the end of December 2022, defaulted loans in the banking sector stood at over Tk 1.2 trillion (120,657 crore), which is 8.16 percent of total disbursed loans. In December 2021, the amount of defaulted loans was a little over 1 trillion taka (103,274 crores); And it was 7.93 per…
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Has the World Bank lost its way?
Let me start with a little reminder. It was the early nineties and the wave of economic reforms and liberalization was sweeping through the developing countries. My colleague Tapan and I had just returned from completing our higher studies abroad and joined the National Board of Revenue. At that time our economy was insular and…
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Bangladesh to receive USD 3b soft loan from South Korea
On the same day, a Memorandum of Understanding (MoU) was signed between Bangladesh and Korea on the Dhaka Mass Rapid Transit Development Project (Line-4) project. DMTCL under Road Transport and Highways Division will implement this project through EDCF-EDPF co-financing. In addition, a USD 61 million loan agreement for the replacement and modernization of signaling and…
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Low corruption, low money laundering are the secrets of success
Low corruption, low money laundering are the secrets of success