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 Express. “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...

In keeping with the current economic relationship, Bangladesh has been offered a new Line of Credit (LoC), worth of about a billion dollars by India. Finance Minister AMA Muhith plans to use this fund in health and education sectors. He mentioned the plan after a meeting with visiting Sujata Mehta, secretary of Indian external affairs ministry (Multilateral and Economic Relations), at his office at secretariat. India is keen to know what Bangladesh plans to do with the money, said the minister. The amount will help implement development projec...

Finance Minister AMA Muhith on Sunday hinted of a bigger budget for the upcoming fiscal and said its prime focus would be on drawing more investment and generating more revenue. “The size of the next budget will be within Tk 3 lakh crore but the actual figure cannot be divulged now,” Muhith said in the first pre-budget discussion meeting held with the leading economists at National Economic Council (NEC) Auditorium in Dhaka. The minister, however, did not point a finger towards the government’s GDP growth target for next year – which has ...

The government has approved a strategy to curb illicit financial flows by preventing creation of black money, addressing trade-based money laundering, and controlling domestic and cross-border tax evasion, officials said. hith The approval was given at a meeting of the National Coordination Committee (NCC) on Anti-Money Laundering (AML) and Counter Terrorist Financing (CFT), held at Bangladesh Secretariat on Thursday with Finance Minister AMA Muhith in the chair. The objective of National Strategy for Preventing Money Laundering and Com...