Call money rate surges to 8.25pc
The inter-bank call money rate, at which banks lend and borrow between each other, rose to 8.25 percent yesterday, as some private banks rushed to borrow to meet their overnight demand.
Total transactions in the market also increased in the past one week. A total of Tk 8,452 crore was transacted in the call money market yesterday, up by Tk 129 crore from the previous day, ahead of Eid-ul-Azha and Durga Puja, reports the Daily Star.
“Credit offtake is gradually rising. Also, the seasonal demand for money is increasing,” said Anis A Khan, managing director of Mutual Trust Bank.
State banks—Agrani, Janata, Rupali and Sonali—were the major lenders with Tk 3,924 crore in the yesterday’s call money market. Five foreign banks also lent Tk 668 crore.
Bangladesh global apparel export share to go up 1pc by 2020
Bangladesh’s share of textiles and garment exports to rise from 2.8 percent in 2010 to 3.8 percent in 2020, according to the HSBC Trade Forecast report.
“The strong foothold Bangladesh has in production of apparels will further strengthen growth in total merchandise exports over the coming decade”, a new report from HSBC Bank reveals.
Export value of Bangladeshi ready-made garments rose by 13 percent on the year in the first five months of 2014 after growing by 11.7 percent last year, with US and the EU together importing almost two-thirds.
The ...
Export value of Bangladeshi ready-made garments rose by 13 percent on the year in the first five months of 2014 after growing by 11.7 percent last year, with US and the EU together importing almost two-thirds.
The ...
Pakistan National Bank lost Rs9bn in Bangladesh
The National Bank of Pakistan (NBP) suffered a loss of Rs9 billion during its operations in Bangladesh during 2006-11, the National Assembly Standing Committee on Finance was informed on Friday.
The bank’s representatives also informed the committee that head of its Bangladesh operations had been suspended and other employees relegated to the role of OSDs (officers on special duty), and a forensic inquiry was under process to ascertain cause of the fraud.
However, the committee dismissed the explanations made by the NBP officials, and sought a detailed repo...
However, the committee dismissed the explanations made by the NBP officials, and sought a detailed repo...
Rupali seeks Tk 1,337 crore more to meet capital deficit
The state-owned Rupali Bank has sought around Tk 1337 crore from the government to meet its soaring capital deficit after Bangladesh Bank last month asked the ailing bank to become compliant latest by September, official sources said.
Rupali Bank in a letter written to finance ministry last week sought the amount from the government. The shortfall found in the bank’s capital was based on December 31, 2013.
Of the total capital shortfall, Rupali in the letter showed Tk 599.79 crore as provision shortfall against its huge non-performing lo...
Of the total capital shortfall, Rupali in the letter showed Tk 599.79 crore as provision shortfall against its huge non-performing lo...
Remittance inflow in May declines to $1202 million
The country’s foreign remittance earning last month slightly declined to stand at $ 1202.18 million compared to $ 1230.57 million the previous month of April.
The remittance inflow in March totalled $ 1288.62 million, according to the latest data provided by the Bangladesh Bank.
The central bank data also showed that some $ 14,461.14 million came as remittance in the last fiscal year (2012-13).
Of the total remitted amount till May this year, the highest $ 801.61 million came through the private commercial banks, reports UN...
Of the total remitted amount till May this year, the highest $ 801.61 million came through the private commercial banks, reports UN...
Export to US sees 5pc growth in July-April of FY 14
Export earnings from the USA, the largest export destination for Bangladesh goods, witnessed a 5 percent growth during the first ten months (July-April) of the current fiscal (2013-14), mostly due to good performance of the RMG sector.
Bangladesh exports to USA totalled $ 4593.29 million in the first ten months (July-April) of fiscal 2013-14 compared to $ 4374.41 million during the corresponding period of the previous fiscal (2012-13). The amount represents 18.63 percent of the country’s total export earning during the period, reports UNB.
