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BB buys 3.76b US dollars in FY15

In the wake of currencies losing their value worldwide, Bangladesh’s central bank bought up US dollars worth 3.76 billion from the commercial banks directly in the just-concluded fiscal year to keep the country’s money market stable. However, official figures show the amount purchased in FY 2014-15 as lower in volume than what were in the previous two consecutive fiscal years, reports The Financial Express (FE). bb-logoIn FY14 and FY13, the Bangladesh Bank (BB) had bought $5.15 billion and $4.54 billion respectively. On the other hand, the central...

Push to save cows starves Bangladesh of beef

Some 30,000 Indian soldiers guarding the border with Bangladesh have a new mandate under Prime Minister Narendra Modi’s government this year - stop cattle from crossing illegally into the Muslim-majority neighbor. Roughly every other night, troops armed with bamboo sticks and [caption id="attachment_17629" align="alignleft" width="300"]An Indian Border Security Force (BSF) soldier guards captured cattle from the unfenced India-Bangladesh border in West Bengal, India, June 20, 2015. REUTERS/Rupak De Chowdhuri An Indian Border Security Force (BSF) so...

Fake notes at ATM booths: What to do

With Eid approaching, people all over the country are withdrawing money from banks and ATM booths. Generally, the validity of notes issued from banks and booths are ensured. While there has not been any definite proof, we have heard of some claims of ATM booths issuing atmcounterfeit money. But the problem with booths is that without a bank official present, it might be difficult to get reimbursed if one does end up with one. To be on the safe side, follow the safety precautions below
  • Withdraw money from ATM banks in small amounts. So if you...

Remittance hits record $ 15.31b

In the just concluded fiscal year, migrant workers sent home $15.31 billion in remittance, the highest in the country’s history. The remittance in 2014-15 also rose 7.6 percent from $14.23 billion in the previous fiscal year, according to Bangladesh Bank (BB) statistics released yesterday. [caption id="attachment_4203" align="alignleft" width="300"]The reserves now stand at $19.04bn, enough to pay off six months’ imports and second highest among SAARC countries The reserves now stand at $19.04bn, enough to pay off six months’ imports and second highest among SAA...

BHBFC earns Tk 185cr profit in FY 2014-2015

Bangladesh House Building Finance Corporation provisionally posted a net profit of about Tk. 185.02 crore in the fiscal year 2014-2015. During the fiscal year, BHBFC sanctioned Tk.311.21 crore and disbursed Tk. 271.73 crore with BHBFC-300the part of that of the previous year. In the fiscal year 2013-2014 sanctioned and disbursed amount was Tk. 285.18 & 388.90 crore respectively. In the fiscal year 2014-2015 the recovered amount was Tk. 482.96 crore. In the fiscal year 2013-2014 recovered amount was Tk. 459.18 Crore. The rate of incre...

BB issues AML guidelines for NBFIs

Bangladesh Bank (BB) has issued compulsory anti-money laundering (AML) guidelines for non-banking financial institutions (NBFIs) to help combat money laundering and terror financing. Similar to those for commercial banks, the guidelines emphasized that NBFIs should know their clients and keep watch on their financial transactions with a foolproof monitoring system, reports BSS. bb-logoThe central bank in a master circular issued Monday advised the NBFIs to formulate policies and procedures to operationalise and ensure the observance of these guidelin...
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