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Banking

Inter-bank ATM transaction: BB to impose Tk 15 charge    

Bangladesh Bank backtracked from its earlier decision of imposing a fee at Tk 20 on each inter-bank ATM transaction from currently charged Tk 10 amid criticism from different quarters, said officials of the central bank, New Age reports. The central bank has now decided to impose the fee at Tk 15 on per automated teller machine transaction under National Payment Switch Bangladesh project, a BB official told New Age on Monday. atmThe BB earlier made a decision to double charge on the clients on inter-bank ATM transactions, bowing down to repeated pres...

Islamic bonds hit the market  

The government has finally introduced Sharia-based short-term investment bonds for institutions and banks which seek to invest in interest-free financial instruments. The first auction for this type of bonds took place on January 01, 2015. On the very first day, bids amounting to Tk 856 million were offered by Sharia-based Islamic banks. All bids for the three-month bonds were accepted. bbSince the Islamic banks or the buyers of the bonds will have to share the profit from this investment, the ratio of such profit has been fixed at 90:10. That is, if we understand it...

Dollar appreciates against Taka    

The last week of the year observed some appreciation of greenback against Taka. USD/BDT traded around Tk 77.95 levels in the last days of the week. Foreign exchange reserve was $22.30 billion on the last day of the week. dollarMarket experts foresee a stable tone in USD/BDT exchange at the beginning of New Year. Market will receive higher amount of wage earners remittance along with conversions from RMG sector which might ease off the pressure on greenback. The average daily inter-bank USD/BDT transaction volume was about $20.91 million against around...

Auction of Islami Investment Bonds starts

The government has started issuing auction-based Islami Investment Bonds on Thursday, the first working day of the calendar year 2015, to create a new window for investment by the Islamic banks and financial institutions. islamic bondSix bids, amounting to Tk 885 million, were offered by six Shariah-based Islami banks for three-month Bangladesh Government Islami Investment Bond (BGIIB). Besides, seven bids, amounting to Tk 936 million, were offered by six Islami banks and an Islamic non-banking financial institution (NBFI) for six-month BGII...

BAFEDA committee for 2015-2016 formed

The election of the Executive Committee of Bangladesh Foreign Exchange Dealers’ Association (BAFEDA) for the tenure of 2015-2016 was held recently at the conference room of the Association. Mohd. Nurul Amin of Meghna BankMohammed Nurul Amin, Managing Director of Meghna Bank Ltd. was elected Chairman of BAFEDA. Mohammad Abdul Mannan, Managing Director of Islami Bank Bangladesh Limited and Md. Abdus Salam, Managing Director of Janata Bank Limited were elected as Vice Chairman and Treasurer of BAFEDA...

22pc Bangladeshi adults have bank accounts

Only 22 per cent adults of Bangladesh have bank accounts and almost half of them lie dormant, says a report. According to a survey on financial behaviour, Bangladesh is 6th among seven countries – Nigeria, India, Kenya, Uganda, Tanzania and Pakistan – in the number of adults with bank accounts, reports the Dhaka Tribune. But the country stands 4th after Nigeria, India and Kenya in adult active bank account rate of 12% and its dormancy rate is second highest more than countries like Kenya, Pakistan, Tanzania and Uganda. The account dormancy or inactive bank account rate is highest in India (47%).
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