Defaulters will get till September 7 to apply for rescheduling their loans under the central bank’s relaxed policy as per a Bangladesh Bank notice to banks yesterday. The relaxed policy was made available in May to allow defaulters to clear their loans.

Chairman of Grameen Bank Khandaker Mozammel Haque passes away at Square Hospital in Dhaka. He was 74.

Md Shafiul Azam has recently been reappointed managing director and chief executive officer of Modhumoti Bank.

The energy ministry has asked Bangladesh Petroleum Corporation (BPC) and Petrobangla not to deposit their funds with weak financial institutions in the hope of getting higher returns in the form of interest.

Bangladesh Bank issues a circular asking banks to keep their branched near cattle markets open till August 11.

Sayeed H Chowdhury has recently been re-elected chairman of One Bank for a one-year term from August 1.

Generating ideas and having a keen mind for innovation are key for a fledgling entrepreneur to attain success, said Md Arfan Ali, president and managing director of Bank Asia.

Finance Minister AHM Mustafa Kamal is finally cracking the whip on the wayward BASIC Bank, instructing shuttering of all branches that are in the red for three years in a row along with a host of other strict actions.

Banks’ loan recovery in the first quarter of 2019 was 9.68 percent higher than a year earlier, but given the extraordinary rate at which default loans are increasing it seems below par.

Bangladesh has made substantial progress in achieving price and macroeconomic stability. It has succeeded in maintaining inflation in modest single digits range, while also achieving high growth, due in a significant part to sound macroeconomic management.

Mastercard recently launched a new campaign marking Eid-ul-Azha offering cardholders discounts at electronics and 30 lifestyle merchants.

The central bank may set a 1.5 percentage points lower private sector credit growth target for the second half of the year amid the shrinking demand for credit.

The Asian Development Bank (ADB) has upgraded Bangladesh’s growth estimate for fiscal 2018-19 to what would be the highest in the Asia Pacific region, in what can be viewed as a thumping endorsement for the economy’s tremendous momentum.

The High Court questions the legality of a Bangladesh Bank circular allowing defaulters to reschedule their loan with a repayment period of up to ten years.

Finance Minister AHM Mustafa Kamal yesterday said he delivered on his promises he made six months ago that the non-performing loans at the state banks would not go up any longer.

The head of the British parliament’s Work and Pensions Committee has written to the chair of Standard Chartered Plc’s remuneration committee questioning the bank’s executive pension pay levels after more than a third of shareholders voted against its directors’ remuneration policy.

The central bank yesterday asked banks to form a special monitoring cell to keep an eye on defaulters with loans of more than Tk 100 crore.

Finance Minister AHM Mustafa Kamal will sit with the chairmen and chief executive officers of the state-owned commercial and specialised banks today to take stock of the overall situation of the financial sector.

Bank Asia’s deposits in agent banking have recently crossed the Tk 1,000 crore mark, further consolidating the bank’s position in the sector.

The central bank has once again instructed banks to lower their lending rate to single digits as per instruction of the government and as committed by the sponsors of the lenders.