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Regulators

EC requested to add banking apps to smart NID cards  

The centra bank is set to request the Election Commission (EC) to attach financial transaction-related applications (apps) on its smart national ID cards so that clients of scheduled banks and non-bank financial institutions are able to carry out transactions through this cards, a press release said. A Bangladesh Bank official told on Thursday that the central bank will inform to the Election Commission soon, requesting for information on the types of applications that will be included in smart NID cards. bbThe Election Commission will have to give the banks and N...

November remittances up 10pc year-on-year    

Money sent home by Bangladeshis working overseas in November rose 10 percent from a year earlier to $1.17 billion, the central bank said on Tuesday. In July-November, the first five months of the 2014-15 financial year, Bangladesh received $6.19 billion in remittances, up 11 percent from the same period of previous year. Remittances from its millions of citizens abroad are critical for the South Asian nation of 160 million people. remittanceThe inflows are a key source of foreign exchange, alongside garment exports, which account for...

Remittance rebounds in November

Remittance in November rose 14.7 percent to $1.17 billion from the previous month on the back of legalisation of migrant workers in Saudi Arabia. November's receipts were over 10 percent higher than in the same month a year ago, according to data from Bangladesh Bank, reports the Daily Star. remittanceBanks' active role in remitting money from expatriates had also contributed to the growth, said Kazi Saidur Rahman, general manager of BB's foreign exchange reserve and treasury management department. The appreciation of the dollar agai...

BB sells $45 million to three banks directly    

The central bank sold US$45 million more to three commercial banks directly on Monday to meet the growing demand for the greenback, officials said "We've sold the US dollars to the banks to settle their import payment obligations," a senior official of the Bangladesh Bank (BB) told the FE. He also said the central bank will provide such foreign currency support to the banks continuously in line with the market requirement. bbThe US dollar was quoted at Tk 77.72 in the inter-bank foreign exchange market Monday against Tk 77.70 of the previous working day, market...

Panel on creating ‘technology bank’ for world’s poorest nations

United Nations Secretary-General Ban Ki-moon has announced the formation of a High-Level Panel to study the scope and functions of a proposed new “technology bank” and dedicated to helping the world’s least developed countries (LDCs) advance out of poverty, the Organization’s spokesperson confirmed today. mobiledeviceThe High-Level Panel – which is to advise on the organizational and operational aspects of the planned “Technology Bank and Science, Technology and Innovation Supporting Mechanism” – will be chaired by Rwanda’s Romain Mur...

Bangladesh, Sri Lanka near to historic trade pact

As both Bangladesh and Sri Lanka moved closer to their historic trade pact, the process took a new turn as a keen Bangladeshi private sector itself stepping in to accelerate it on 27 November, a rare development in an on-going Lankan trade negotiations-and bilateral trade between both countries has jumped by a strong 67%. “I will meet our Commerce Minister who is very well meaning and serious, and inform him to expedite the FTA process” said Mahbubur Rahman (President, International Chamber of Commerce of Bangladesh ICCB) on Thursday (27) in Colombo. ICCB President Rahman was addressing Rishad Bathiudeen.
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