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BB

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...

US overtakes UAE as largest source of remittances to B’desh

Bangladeshi expatriates in the United States (US) sent home the highest amount of remittances in February, totalling US$491.26 million, according to data from Bangladesh Bank (BB).

Following the political transition in August, remittance inflows from the US have significantly increased, enabling the country to surpass the United Arab Emirates (UAE), which had long been the leading source of expatriate income.

The UAE ranked second, with expatriates send...

Ahsan H Mansur expected to new BB governor

The government is set to appoint Dr Ahsan H Mansur as the next governor of the Bangladesh Bank. . Ahsan H Mansur is a Bangladeshi economist and director of the ...

Monetary policy kept unchanged

The monetary policy for the first half of the current fiscal year has been announced keeping its rates unchanged. The repo and reverse repo rates remain at 7.25 percent and 5.25 percent respectively as they were in the previous monetary policy. “[But] BB will have no hesitation in considering easing of the repo and reverse repo policy interest rates to appropriate extent immediately as headline point-to-point and core CPI taka-bundleinflation assume clear downward edging turn,” said Bangladesh Bank Governor Dr Atiur Rahman at a programme on the ...

OECD upgrades BD country rating by one notch

The Organisation for Economic Cooperation and Development (OECD) has upgraded its rating for Bangladesh, in a move that should make it easier for local entrepreneurs and banks to secure credit, the country’s central bank governor said on Sunday. Atiur Rahman said the decision was made at a meeting of the Swiss Export Credit Agency last street-children-300x196week, which he attended. He said the OECD, an international group that promotes policies aimed at improving the economic and social well-bring of people around the world, ha...

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...
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