Mutual Trust Bank (MTB) and Trust Axiata Pay (TAP), a mobile financial service of Trust Axiata Digital, recently struck a collaboration agreement under which they launched three services at the former’s head office in Dhaka.

Bangladesh Bank yesterday withdrew the interest rate ceiling on non-resident foreign currency deposits in order to increase supply of the US dollar and arrest the ongoing volatility in the foreign exchange market. 

If media reports are followed closely, it can then be concluded that our banking industry is battling a persisting malady: capital shortfall.     

Eastern Bank Ltd (EBL) was yet again named Bangladesh’s Best Bank by Euromoney, a UK-based monthly magazine focused on business and finance, in its Awards for Excellence 2022 for its timely intra-banking model.

The central bank yesterday beefed up its efforts to increase the supply of US dollars as the foreign exchange market of Bangladesh is facing acute shortages of American greenback amid the yawning gap between imports and exports.   

Bangladesh Commerce Bank recently appointed Md Abdul Kader as its deputy managing director.

The Bangladesh Bank has allowed, for the first time, the domestic banks to borrow from their offshore banking operations, to settle the import payments of capital machinery, industrial raw materials and imports made by the government.

Bangladesh Bank has asked banks to encash 50 per cent of the balance held in exporters’ retention quota (ERQ) accounts immediately and revised downwards the limit.

The exchange rate of the taka stood at Tk 93.95 per dollar today in contrast to Tk 92.45 on Tuesday.

Meghna Bank Limited recently signed an agreement with Nagad so that the bank’s customers can directly send money from their accounts to a beneficiary account of the mobile financial service brand operating under Bangladesh Post Office.

United Commercial Bank formed a new board of directors through a meeting at its corporate office on Wednesday.  

The ongoing strain on Bangladesh’s foreign exchange market and the growing demand for cash ahead of Eid-ul-Azha sent the inter-bank call money rate to at least a six-year high yesterday. 

In an effort to keep the foreign exchange reserves stable, the Bangladesh Bank yesterday 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. 

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.

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. 

Keeping import payments manageable while maintaining stability in the foreign exchange markets will be a critical challenge for the economy, apart from keeping inflation at a tolerable level, said Bangladesh Bank yesterday.

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 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.

Central banks globally are struggling to contain inflation even after raising their key interest rates. And although Bangladesh is experiencing a similar situation, the monetary instrument is largely ineffective in the country because of the 9-per cent lending cap.