Money sent home by Bangladeshis working overseas in August rose 1.1 percent from a year earlier to about $1.19 billion, the central bank said on Thursday.
The figure was lower than $1.39 billion netted in July, when remittances fell 7 percent from a
year earlier in the first annual dip since February.
Millions of expatriate Bangladeshis remitted $15.31 billion in the financial year that ended in June, up 7.6 percent from a year earlier.
Remittances from more than 10 million citizens abroad are critical for t...
The Alacer Group, dedicated to helping business leaders accelerate performance, quality, productivity and profitability, today announced that its Velocity AML Suite has been chosen by three prominent banks in Bangladesh to improve AML case workflow and security. After an extensive search process, Mercantile Bank Limited, Social Islami Bank Limited (SIBL) and Meghna Bank selected Alacer’s Velocity AML Suite to ensure robust KYC/CIP onboarding, sanctions screening, payments interdiction and transaction profiling, all key operational areas that support local and international anti-money laundering efforts. The banks selected the Velocity solution for its ability to be quickly deployed, its robust reporting features and for the delivery of consistent and full compliance with AML regulatory ...
Banks today are the largest financial institutions around the world, with branches and subsidiaries throughout everyone’s life. However, commercial banks are facing risks when they are operating credit related activities.
Credit Risk is one of the most significant risks that banks face, considering that granting credit is one of the main sources of income in commercial banks. Therefore, the management of the risk related to credit affects the profitability of the banks said Mr. Muhammad A. (Rumee), Chairman, ICCB Standing Committee on...
Bangladesh's foreign exchange reserve hit an all-time high of more than 24 billion U.S. dollars at the end of April, said a central bank official on Monday.
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The reserves now stand at $19.04bn, enough to pay off six months’ imports and second highest among SAARC countries[/caption]
The Bangladesh Bank official who preferred to be unnamed said that foreign curr...
On Saturday 25 April, the International Retail Banking Summit in Bangladesh 2015 took place. As Efma’s first event in Bangladesh, it gathered more than 150 participants, and served as a platform for the retail banks to discuss key issues affecting the retail financial services industry in the country. We spoke to some of the speakers at the event to find out more.
What makes Bangladesh unique in terms of retail banking?
Sarder Akhter Hamed, EVP & Head of Retail Banking at United Commercial Bank: With a popul...
Like other sectors of the economy, Islami Bank Bangladesh Limited has been contributing significantly in the country's agriculture sector. Since its inception, the bank has been working for development of agricultural sector, which is the livelihood of 80 percent of people of the country directly or indirectly.
Over the last 5 years the Bank invested more than 60 billion Taka in agriculture sector. The Bank also trained two and a half million farmers training on modern technology for the cultivation. The Bank is also giving priority inve...
