The government might allow Padma Bank to merge with a state bank as the beleaguered lender is desperately trying to avoid a complete collapse. 

The government will consider the application of Padma Bank seeking merger with any state bank, Finance Minister AHM Mustafa Kamal said today.

Central bank digital currencies (CBDCs) can slash the time needed for cross border payments to seconds from days and cut costs, the Bank of International Settlements (BIS) said, citing a pilot scheme to test the digital forms of fiat currencies.

NRB Bank has incurred a loss of Tk 103 crore as it intentionally became involved in unethical trading practices in the stock market to favour gamblers, which weakened the financial health of the lender and put depositors’ money at risk.

Dhaka Bank Limited has recently signed an agreement with Asian Development Bank (ADB) to engage in the latter’s Trade and Supply Chain Finance Programme (TSCFP) as a confirming bank to expand its trade facilities.

The cash-strapped tanners have been given three months more to repay their default loans under relaxed facilities.

Funds transacted through agent banking accounts rose 14.3 per cent year-on-year to Tk 32,523 crore in July as more and more people are joining the financial system using the new window, Bangladesh Bank data showed.

Bangladesh Bank today said banks can buy private sector-issued green Sukuk from their special funds, which they were allowed to form to invest in the stock market.

Bangladesh has joined the New Development Bank (NDB), a multilateral development bank established by the BRICS countries, as a member state.

Economic growth in the eurozone stumbled in September, a closely watched survey said Thursday, as supply chain bottlenecks, high prices and the spread of the coronavirus Delta variant hurt output.

Nagad yesterday said it unblocked all but eight accounts, including that of the chief executive officer of digital commerce company Sirajganj Shop, which were alleged to have been involved in a “scam”.

By this time, it is known to many that the government has reduced the interest rate on savings certificate and wage earners bond for investments above Tk 15 lakh.

Union Bank Limited has suspended three officials of its Gulshan branch over a liquidity shortage of Tk 19 crore in its vault.

A branch of Union Bank Ltd has adjusted the shortage of funds in its vault through cheque, finds a Bangladesh Bank inspection.

US Bank announced an $8 billion deal on Tuesday to buy the US retail activities of Japan’s Mitsubishi UFJ Financial Group (MUFG).

The Hongkong and Shanghai Banking Corporation Limited (HSBC) and British Council virtually launched a new programme recently to provide English and IT lessons to 2,400 out-of-school girls in Bangladesh. 

State-owned Sonali Bank Limited secured top position among all government banks in implementing an annual performance agreement 2020-21 signed with the finance ministry’s Financial Institutions Division. 

The Asian Development Bank has launched a new country partnership strategy (CPS) for Bangladesh with a plan to accelerate lending in order to boost competitiveness, employment, green growth and social protection.

SM Amjad Hossain, chairman of South Bangla Agriculture and Commerce Bank, has expressed his intention to resign, citing illness.

The government has reduced the interest rates on savings certificates and wage earners development bond by 1 to 3 per cent.