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Banking

Poultry Industry demands loan rescheduling, interest exemption

The poultry industry of the country has demanded the rescheduling of bank loans, exemption of bank interest and financial incentives to recover losses due to ongoing hartal and blocked. The leaders of the poultry industry said, the sector has suffered a loss of more than Tk 4,000 crore in the last three months due to political instability. poultryThis was disclosed at a press conference on Wednesday organized by Bangladesh Poultry Industries Coordination Committee (BPICC), a body of six major poultry associations, at National Press Club in th...

Over alert in commercial banks hampers credit flow to pvt sector

The much needed credit flow for the private sector is very low and depressing due to  over cautious steps taken by the commercial banks, said ICCB President Mahbubur Rahman while inaugurating the ICC workshop on ‘Credit Risk Management & Trade Finance’ organized by International Chamber of Commerce (ICC) - Bangladesh, the world business organization at a local hotel in the city on Saturday (07-12-2013). ICCB President said, a number of state-owned and private commercial banks are faced with huge loan default due to fraudulence practices by some officials of few commercial banks (both public and private) in connivance with some ill-motivated unscrupulous clients. ‘More than Tk.4,000 crore have been siphoned out from two s...

July-Sept exports to Europe post modest growth

Key destinations of country’s export market like Germany, UK and France a posted modest growth in the first quarter (July-September) of the current fiscal (2013-14) as compared to the same period of the last fiscal (2012-13). In July-September of the current fiscal, exports to Germany totaled $ 1,237.60 million, which was 16.22 percent of total export earnings for the three-month period. Of the amount, knitwear accounted for $ 701.65 million, woven garments $ 440.66 million and frozen shrimp $ 23.27 million, according to latest figures released by the Export Promotion Bureau (EPB). The EPB figures showed exports to the UK during July-September totaled $ 729.37 million, which was 9.56 percent of the total export earnings for ...

Remittance from KSA highest in July-Oct period

The expatriate Bangladeshis working in Saudi Arabia sent the highest amount of $ 944.34 million remittance during the July-October period of the current fiscal year (2013-14). The overall remittance inflow to Bangladesh during the four-month period totalled $4,500.64 million of which $1,230.68 million came in this October, according to the latest data of the Bangladesh Bank. The overall remittance inflow in September totalled $ 1,025.69 million. remmitance The central bank data showed that of the total $ 4,500.64 million sent in July-Oct...

Mobile financial service should be free from overregulation: experts

Telecom financial services experts here today called for keeping the mobile financial services out of over-regulation so that the 50 percent unbanked population of the world could be incorporated into the financial services to boost it in future. They have also consented that collaboration between the banking, financial service and telecommunication regulators might establish a platform where the unbanked people would get opportunity to avail different kinds of financial services smoothly with the access of mobile banking, as 75 percent of world's population has the access to mobile communication, reports BSS. Their observations came at a panel discussion "Many Faces of Mobile Financial Services" at the final day of the ITU Telecom World 2013 that began on November 19 in the capit...

Mobile banking users cross 10m mark

Mobile banking users in the country crossed 10 (one crore) million mark from 0.5 million in April this year. mobile bankiongAccording to Bangladesh Bank (BB), the number of mobile banking accounts stood at 10.235 million (1 crore 2 lakh 35 thousand) on November 11 with more than 100 percent rise in seven months. "The phenomenal rise in mobile banking would play significant role in financial inclusion," the central bank in a press release said Wednesday. Introduced in 2010, mobile banking has become a major tool of many banks to take t...