Bangladesh Bank will introduce a monitoring tool named Inter-bank Transaction Matrix from January 2014 to supervise liquidity management of banks and non-bank financial institutions.
To this end, the BB issued a circular to managing directors and chief executive officers of all scheduled banks and NBFIs saying that the central bank would give early warning signals to the crises institutions about their liquidity crisis by using the new tool.
The BB circular said, ‘Interconnectedness among the ban...
To help the exporters recover their losses due to ongoing political unrest, the central bank has slashed 1.0 per cent interest on its export development fund (EDF) scheme for the next six months.
Under the amended rules, exporters are allowed to get such foreign currency loan through commercial banks on payment of 1.50 per cent interest instead of 2.50 per cent earlier.
The Bangladesh Bank (BB) issued a circular in this connection Sunday and asked the commercial banks to follow the revised interest rate on the EDF scheme from the date of issuance of this circula...
In terms of comprehensiveness, precision and clarity, the Banking Companies (Amendment) Act 2013 is likely to bring ambiguities among the stakeholders; the shortcomings of the Act, therefore, should be addressed immediately to ensure proper corporate governance in the banking sector, opine speaker at a conference organized by Institute of Chartered Accountants of Bangladesh (ICAB) at its auditorium in the city on Friday.
Md. Habibur Rahman Bhuiyan FCA, Deputy Managing Director, Islami Bank Bangladesh Ltd and S.M. Abdul Hamid, FCA, Deputy Managing Director and CFO, IFIC Bank Bangladesh Ltd jointly presented the keynote in the conference titled ‘Changes in Banking Companies (Amendment) Act 2013 and its Analytical Review & Impact’.
The loan classification policy of Bangladesh Bank will most likely be relaxed this month, indicated Finance Minister AMA Muhith.
The move comes in response to demands from garment exporters, who are left staring at huge losses after months of severe disruptions to their businesses owing to political turbulence.
They said the current loan classification policy, which marks a loan to be classified when the repayment period overshoots by three months, is “killing” them. Although they are still eligible for new loans, the banks put excessive pressure on them to make their payments, reports the Daily Star.
“I think we will have to do something about it,” the minister said during a meeting with top leaders of the three main garment manufacturers...
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.
This 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...
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...
