Tag: loan
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Supervisor appointed in two Islamic banks amid reports of suspicious lending
Central bank spokesperson Mejball Haque said on Monday that its directors Abul Kalam Azad and Motassem Billah would serve as supervisors at Islami Bank and First Security Bank, respectively. Supervisors shall participate in the meetings of the Board of Directors and Executive and Audit Committees of Sharia-based banks and report to the Central Bank.
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Five Islamic banks borrowed 40 billion taka
Earlier on Monday, Bangladesh Bank had issued a circular to facilitate liquidity to Islamic banks. The order came into effect from the day. Using this facility, Islamic banks began lending money to the central bank by depositing sukuk (Islamic bonds or “Sharia-compliant” bonds).
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Why did Bibi remove her supervisor from Islamic Bank?
Bangladesh Bank appointed a supervisor for Islami Bank in December 2010, prompted by fears of loan irregularities. Since then, a director-level official (then General Manager) of the central bank used to attend various meetings of the Sharia-based bank. A Chattogram-based industrial group took over the bank in 2017 with a supervisor keeping a watchful eye…
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Debt Securities: High Court order banning dishonored check cases stayed
BRAC Bank later filed three separate petitions seeking a stay on the HC’s decision. The petitions were placed before a chamber court on 28 November, which forwarded them to a regular bench of the Appellate Division. Advocate AM Amin Uddin along with Minhajul Haq Chowdhury argued on behalf of BRAC Bank during the hearing on…
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Failure for ACC as it could not complete probe within stipulated time: HC
The court also directed to take action against ACC as per law if the probe is not completed within this time limit. The High Court also asked the investigation reports of these cases filed seven years ago to be submitted to the concerned court within the next three months. After submitting the report, an affidavit…
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Pakistan, IMF begin talks on $7 billion loan review
“As part of the 9th review under the EFF, remote discussions are continuing between IMF staff and Pakistani officials to re-prioritize and better target support for humanitarian and rehabilitation needs,” said Esther, resident representative of the lender Perez Ruiz said in a statement. Pakistan has been battling floods this year that killed more than 1,700…
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USD 4.5b loan: Government begins meeting IMF requirements
The government has started the process of meeting the requirements set by the International Monetary Fund (IMF) for sanctioning a loan of USD 4.5 billion. The concerned regulators have already taken initiatives to reduce defaulted loans in the banking sector and subsidies. The Bangladesh Energy Regulatory Commission (BERC) recently hiked the wholesale electricity price by…
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Padma Bridge tendering inside of month: Abul Hossain
Communications Minister Syed Abul Hossain pronounced proposal would be invited inside of the month for structure the much-talked-about Padma Bridge, right divided that the donors have paved the approach for the start. He done the ultimate proclamation about tendering for the mega-project whilst upon vacation the devise area of the overpass during Jajira indicate of…
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$140m Padma Bridge loan bargain sealed with IDB
The supervision sealed a US$140 million loan bargain with a Islamic Development Bank (IDB) upon Tuesday to financial a Padma Multipurpose Bridge Project. Finance Minister AMA Muhith as great as upon vacation IDB President Dr Ahmad Mohamed Ali sealed a agreement during a financial multiplication of a method of financial during about 10:00am. They additionally…