Bangladesh Bank yesterday drew up a set of rules for companies that borrowed from banks and non-banks, requiring them to submit up-to-date information on their board of directors to the Credit Information Bureau (CIB).

Nearly three months after Padma Bank submitted its proposal seeking a merger with any state-owned lender, Bangladesh Bank said that state lenders are now plagued by financial health issues due to excessive defaulted loans.

Midland Bank Limited has recently witnessed the reelection of its chairman and vice-chairman at the 115th meeting of its Board of Directors.

Bangladesh Bank yesterday relaxed rules regarding banks’ investment in Treasury bills and bonds in order to help them avoid generating lower-than-expected profits in the secondary bond market.

Bangladesh’s economic growth will rebound to 7.2 per cent in the current fiscal year, riding on domestic consumption, global recovery, steady flow of remittance and rising exports, said Standard Chartered yesterday.

South Bangla Agriculture and Commerce Bank (SBAC) has suspended 11 officials, including two deputy managing directors (DMDs), due to alleged irregularities in disbursing loans.

Moody’s Investors Service has changed the outlook to “stable” from “negative” and affirmed issuer rating at B1 for City Bank Limited. 

The Bangladesh Financial Intelligence Unit (BFIU) has frozen the bank accounts of Foster Payments due to its alleged involvement in money laundering.

The foreign exchange regime has made an about-face in the last two months as the Bangladesh Bank continues to inject US dollars (USD) into the market to halt the depreciation of the local currency and meet the growing appetite of the economy.

Standard Bank Limited has recently witnessed the appointment of a new deputy managing director and chief business officer. 

Brac Bank has widened its workplace diversity by introducing employment opportunities for the country’s transgender and physically challenged people.

Remittance flow to Bangladesh fell to a 16-month low of $1.72 billion in September as money transfers through informal channels such as hundi might have made a comeback after a lull caused by the coronavirus pandemic.

Mobile financial service provider bKash is marking its 10th anniversary offering customers cash withdrawals at a reduced rate of Tk 14.90 per Tk 1,000 through one agent of their choice and ATMs of several commercial banks.  

The Bangladesh Bank yesterday fined two more banks and warned four others for investing in the stock market breaching rules.

Prime Bank Limited has introduced a digital loan disbursement system for the garments workers- the move, the bank claimed, is the first of its kind in the banking industry in Bangladesh.

The Bangladesh Bank yesterday renewed the interim licence of Nagad for another six months as the Bangladesh Post Office (BPO) has failed to form a subsidiary to run the mobile financial service.

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

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.

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.