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Bangladesh Bank

IMF lauds reserve build-up by BB

The International Monetary Fund (IMF) has welcomed the increase in foreign exchange reserves by the Bangladesh Bank (BB). "The accumulation of reserves is considered a central objective of the IMF-supported programme, particularly given that the country continues to face balance of payments pressures," said Thomas Helbling, deputy director of the IMF's Asia and Pacific Department. Responding to a question at a press briefing in Hong Kong on Friday on Asia-Pacific economic developments, he said that the goal ...

BB issues public advisory following media reports

The Bangladesh Bank (BB) has issued a comprehensive public advisory in response to recent reports concerning the intrusion of a huge quantity of counterfeit notes into the country. To this end, the central bank today issued a circular urging the public to exercise greater caution during cash transactions and adhere to guidelines designed to prevent the use of fake currency.
According to the circular, when receiving notes, individuals must properly verify all security characteristics. These features i...

Country set to achieve record remittance in March

Bangladesh is on track to set a new record in remittance inflows, with expatriates sending $2.25 billion through banking channels in the first 19 days of March. This marks a significant 78.4 per cent increase compared to the same period last year.

According to the latest data from Bangladesh Bank, the surge in remittance is largely attributed to the upcoming Eid celebrations, as non-resident Bangladeshis are remitting more funds to support their families.

BB sets 27pc loan target for CMSMEs to boost employment

Bangladesh Bank (BB) has introduced a significant policy change to enhance business growth and employment in the Cottage, Micro, Small, and Medium Enterprises (CMSME) sector. Under the new policy, the central bank has mandated that 27 per cent of loans be allocated to the CMSME sector for the next five years.

This initiative was announced during a press conference held at Bangladesh Bank’s headquarters in Motijheel on Monday.

Mustafizur Rahman, Executive Di...

New probe panel to review BB 2016 cyber heist

The Cabinet Division has established a six-member committee, led by Law Adviser Asif Nazrul, to reassess the 2016 cyber theft involving Bangladesh Bank’s reserves.

A gazette notification, signed by Mohammad Khaled Rahim, Additional Secretary of the Cabinet Division, was issued on Wednesday (12 March).

The committee comprises Muhammad Fouzul Kab...

Moody’s downgrades banking outlook to negative

Moody's Ratings has revised its outlook on Bangladesh's banking sector from stable to negative, citing increasing asset risks and worsening economic conditions. In a report released today, the agency highlighted several pressing concerns, including declining asset quality, persistent inflation, and slowing economic growth, all of which are expected to undermine banks' profitability and financial stability.

According to Moody's, Bangladesh's real GDP g...

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