Mobile financial service (MFS) providing companies are spending big in the form of cashbacks on purchases made during the ongoing Eid sales season as they are fighting a costly battle for digital payment supremacy in the country.

Brac Bank shareholders yesterday approved 15pc dividend--7.50pc in the form of cash and 7.50pc in stock -- for 2021.

Mercantile Bank yesterday approved 12.5 per cent cash and 5 per cent bonus dividends for 2021 at its 23rd annual general meeting held virtually from its head office.

The chairman of the Board of Directors of Jamuna Bank has been unanimously elected to the post a second time.

The Bangladesh Bank yesterday asked banks to keep their doors open and run operations on a limited scale on Saturday, a public holiday, in order to settle the increased number of financial transactions ahead of Eid-ul-Fitr.

Bangladesh Bank yesterday withdrew the ceiling for the number of daily inter-bank fund transfers through internet banking.

Islami Bank Bangladesh has achieved an international organisation for standardisation (ISO) certificate from UK-based certification agency Bureau Veritas for fulfilling the requirements of ISO27001:2013 standard.

National Credit and Commerce Bank recently promoted its deputy managing director to the post of additional managing director.

The Bangladesh Securities and Exchange Commission (BSEC) yesterday gave a go-ahead to The City Bank Ltd to raise Tk 700 crore through issuance of bond in order to enable the bank to strengthen its capital base, according to a statement.

Bangladesh Bank yesterday revised its policy for post-import financing (PIF) to ease the process for importers to get finance smoothly.

Digital transactions in the country are set to get a boost as Bangladesh Bank has allowed customers to make an unlimited number of transactions through mobile financial services (MFSs).

The Bangladesh Bank yesterday asked banks to take insurance coverage against their financing to exporters in a bid to minimise default risk of loans.

Brac Bank has promoted its head of treasury and financial institutions to the post of deputy managing director (DMD).

Brac Bank signed a memorandum of understanding with mobile operator Robi Axiata to provide digitalised solutions to small and medium enterprises (SMEs) to develop their businesses.

Guardian Life Insurance recently signed a group insurance agreement with Bank Alfalah enabling the bank’s employees and their families to enjoy group insurance benefits.

Bangladesh Bank yesterday asked banks in the country to closely monitor their agent banking programmes by appointing dedicated officials in order to ensure transparency of operations.

United Commercial Bank (UCB) yesterday decided to form subsidiaries in Qatar and the UAE to expand its Money Services Business (MSB) operations, according to a company disclosure on the Dhaka Stock Exchange (DSE) website.

Bangladesh Bank yesterday asked banks to track shipments of goods which are exported with a view to tackling trade-based money laundering.

NRB Bank has recently appointed Md Shaheen Howlader as deputy managing director (DMD).

Commerzbank and German bank AKA Ausfuhrkredit-Gesellschaft mbH have extended a term loan of €28.63 million to local dredging solutions provider Western Engineering through City Bank under the coverage of export credit agency Atradius Dutch State Business.