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Economy

No pain, no gain – says Governor

Dr. Atiur Rahman, reputed as the ‘Green Governor’ has a reputation for innovative thinking and problem solving. He is renowned for his support of the agriculture sector and his focus on SME as well as green banking. As one of the most progressive and well-respected Central Bank Governors in the world, United World discusses Bangladesh’s economic growth outlook and the opportunities and challenges for the banking sector. dr. atiurAcross the region we have seen recent growth downgrades. How do you see the growth prospects for Bangladesh this ...

Low-cost refinancing scheme soon to boost milk cow rearing

The ministry of finance plans to roll out a low-cost refinancing scheme of Tk 200 crore from July to boost milk cow rearing in the country after finance minister AMA Muhith approved the proposal last week. The scheme involves a five per cent interest rate for borrowers to be lent through state-owned banks, while the finance ministry will subsidize the banks concerned, a govtsenior finance official said, reports the New Age. Bangladesh Bank will provide the fund to banks which will manage it to improve rural economy and ensure supply of cow milk fo...

Fingerprint to replace PIN code for ATM use

Bangladesh Bank is going to replace existing four-digit security PIN code used to settle transactions through automated teller machines with fingerprint with a target to strengthen financial security, the New Age reports. A BB official told New Age on Wednesday that the central bank had taken the initiative to strengthen financial security as well as to popularise the country’s atmcard-based payment system among the rural people. Such type of security measures is globally known as biometric solution and a number of developed countries have already in...

Remittance flow up in March

The country received highest remittance in March in last six months as the expatriate Bangladeshis remitted about US$1.332 billion in the previous month, reports UNB. The non-resident Bangladeshis sent $1.244 billion to the country in September last year.Since then, the flow of monthly remittance was between $1.109 billion and $1.127 billion. According to Bangladesh Bank statistics, the country received $1.018 billion in October, $1.1182 billion in November, $1.175 billion in December, $1.243 billion in January and $1.189billion in February. remittance

Exports up 7pc on garment sales

Bangladesh’s exports rose 7.4 percent in March from a year earlier to $2.59 billion, increasing for a fifth straight month, driven by stronger sales of ready-made garments, official data showed on Tuesday. export-importExports from July to March, the first three quarters of the financial year, rose nearly 3 percent from the same period a year earlier to $22.9 billion, 5 percent short of the target, the Export Promotion Bureau said. Sales of ready-made garments, comprising knitwear and woven items, totalled $18.63 billion in the Ju...

Pvt sector credit growth rebounds

Private sector credit growth rebounded in February 2015 over the previous month despite political uncertainty, officials said. The growth in private sector credit flow rose to 13.61 per cent in February from 13.33 per cent in January. It was 13.50 per cent in December, reports the Financial Labour_IndustryExpress. “We expect that the upward trend of private sector credit growth will continue in the coming months, if the political stability continues,” Dr. Biru Paksha Paul, chief economist of Bangladesh Bank (BB), told the FE o...
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