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Economy

BB amends policy on single borrower exposure limit

Bangladesh Bank (BB) has amended its policy on single borrower exposure limit in order to comply with the recently incorporated Section-26 (Kha) of the Banking Companies Act (BCA), 1991 and further improve bank's credit risk management. A circular was issued Thursday in this regard, consolidating all instructions issued so far on single borrower exposure limit, and bringing some changes, reports the Financial Express (FE). Bangladesh BankIn the policy the central bank incorporated the d...

IMF sees global growth, deflation risks rising

lnternational Monetary Fund (IMF) chief Christine Lagarde said yesterday that growth in the global economy was picking up, but warned of the “rising risks” of deflation. “Momentum strengthened in the latter half of 2013, and should strengthen further in 2014 -- largely due to improvements in the advanced economies,” Lagarde said in a speech at the National Press Club in Washington. IMFThe IMF managing director, however, declined to put numbers on the growth rate ahead of next week’s update of the Fund’s offici...

WB predicts GDP growth slow down to 5.7pc

Bangladesh’s economic growth made in October last year remained unchanged as the GDP growth rate will slow down to 5.7 percent against 7.2 percent target in the current fiscal (2013-14) due to political turmoil, says the World Bank (WB). The WB, an international financial institution that provides loans to developing countries for capital programs, came up with the fresh but similar forecast on Wednesday in Washington, reports UNB. wbIn it...

Recent decline in remittances in Bangladesh

Migrant workers sent $6.77 billion home to Bangladesh in July-December, down 8.41% from the same time a year ago. For the first time in recent memory, Bangladesh has experienced a decline in remittances in the first half of the fiscal year. There are four factors that can potentially account for the decline in remittances: the stock of Bangladeshi migrants abroad, earnings per migrant worker, their average propensity to save, and their average propensity to remit money home out of those savings. remittances-decline

Decline marked in bank deposit growth in 2013

Growth rate of bank deposits marked nearly 4.0 per cent decline until November in the last calendar year over the corresponding period in the previous year taking its toll on the banks' operating profits, sources said. Bankers and experts, however, have attributed such a fall to a slowdown in trade and business activities amid the prevailing political turmoil. Most of the banks' operating profits dropped in 2013 compared to that of the previous year. Bangladesh BankFresh investment i...

Remittances nearly $ 7b in fiscal first half

The country’s overall remittance reached nearly $7 billion during the first half of the current fiscal (July 2013-June 2014), a central bank official said Monday. remmitanceQuoting provisional data, the Bangladesh Bank (BB) official, who preferred to be unnamed, said "inflow of remittances from Bangladeshis fell by about 9 percent year on year to $6,778.57 million in the first half of 2013-14 fiscal year," Xinhua reported. The official said the flow of inward remittances in the last month was 5.50...
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