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 card-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...

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.

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...