The Bangladesh Bank today asked banks to take up to 100 per cent of import payments in advances from businesses while opening letters of credit (LCs) for luxury and non-essential items, in an effort to keep the foreign exchange reserves stable.

Bangladesh’s trade deficit hit a historic high of $30.81 billion in the first 11 months of the 2021-22 fiscal year, intensifying the pressure on the macroeconomic zone.

IPDC Finance Limited has recently been recognised in the “Sustainability Rating” by Bangladesh Bank for 2021.

Islami Bank Bangladesh has been listed as one of top 10 banks in sustainability ratings for 2020 and 2021 of the Bangladesh Bank. 

A key objective of issuing a monetary policy statement on the eve of the new fiscal year is to provide forward guidance to the public about the likely future course of monetary policy. When credible, individuals and businesses use this information in making decisions about spending and investments.

The government today signed a $515 million financing agreement with the World Bank to help 9 million people get access to reliable electric supply while transitioning to clean energy.

The government should reconsider its decision to make it mandatory for small and medium businesses to submit proof of income tax return in case of loans of Tk 5 lakh or more, the SME Foundation said today.

Remittance inflow may rebound significantly in Bangladesh in 2022-23 fiscal year as increased number of people flew abroad for jobs, Bangladesh Bank (BB) Governor Fazle Kabir said today.

The Bangladesh Bank will declare tomorrow its monetary policy statement (MPS) for fiscal 2022-23.

The exchange rate of the taka stood at Tk 93.45 per dollar on Tuesday in contrast to Tk 92.95 on Monday.

The chairmen of non-bank financial institutions along with the heads of executive, audit and risk management committees who hold directorships of associated subsidiaries or foundations will be able to continue to serve in the latter positions until December this year.

The borrowers of non-bank financial institutions will enjoy a flexible loan repayment facility up to December this year.

The Bangladesh Bank today asked non-bank financial institutions to form ‘complaint cell’ at their head offices and branches to resolve the complaints of clients.

He came up with the remark while delivering speech at the “First MAM Kazemi Memorial Lecture on Monetary Policy” held in Bangladesh Institute of Bank Management.

The Bangladesh Bank yesterday published the updated version of its guideline on environmental and social risk management (ESRM) for banks and financial institutions to help the country attain development goals and address the sustainability agenda in the financial sector.

The Bangladesh Bank today removed SM Shamsul Arefin from the post of managing director of Uttara Finance and Investments Ltd (UFIL) for his alleged involvement in financial irregularities.

Finance Minister AHM Mustafa Kamal today told the parliament that as of March this year, the amount of defaulted loans in the country was Tk 126,369 crore.

Bangladesh Bank today instructed banks to take special measures to provide priority banking services to valiant freedom fighters, old, widows and differently-abled customers.

The Bangladesh currency today depreciated further against the US dollar, hitting Tk 92.95 on the interbank platform.

The banks, MFS providers and payment service providers will have to find alternative ways to make their payment systems effective in the flood affected districts, including Sylhet, Sunamganj, Moulvibazar, Habiganj, Kishoreganj, Netrokona, Kurigram and Rangpur.