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economy

NRBCBank Director honoured ‘Remittance Award’

Recently Bangladesh Bank organized “Bangladesh Bank Remittance Award- 2014” ceremony at A K N Ahmed Conference Hall, Bangladesh Bank Training Academy, Mirpur in the city. Remitance Award -2014Mr. Rafiqul Islam Mia Arzoo, Director of NRB Commercial Bank Ltd received “Bangladesh Bank Remittance Award-2014” from the Governor of Bangladesh Bank Dr. Atiur Rahman as a highest remittance sender. The award ceremony was also attended by the Deputy Governor of Bangladesh Bank Mr. S K Sur, Mr. Abu Hena Mohd. Raji Hasan, Mrs. Nazneen Su...

BB awards top remitters

Bangladesh Bank today honoured 31 non-resident Bangladeshis (NRBs) for sending the highest amount of remittances last year to encourage the expatriates to send money home through legal channels. bbTwo exchange houses that transfer money have also been awarded by the BB for the first time. Bangladesh Bank Governor Dr Atiur Rahman handed over crests and certificates to the awardees in a programme titled “Bangladesh Bank Remittance Award-2014” at the BB Training Academy in Dhaka.

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IBBL holds half-yearly Business Dev Confce

Deposit and investment of Islami Bank Bangladesh Limited (IBBL) stood at Tk. 596,489 and 497,620 millions respectively till June 30, 2015, which are 13.5% and 12% more in comparison to those of same time of the previous year. The bank has conducted import and export business amounting Tk. 171,704 and 110,640 million respectively while handled foreign remittance of Tk. 165,797 million in the same period. 04This information was disclosed at inaugural session of half-yearly business development conference of the bank held on August 1, 2015 at Muhammad Younus Auditor...

$ 500m fund for manufacturing

The central bank will set up $500 million of funding for the country’s manufacturers, in an effort to stimulate economic growth, the head of the bank said on Thursday. The money will be split between two funds, one aimed at manufacturing in general, the second at textiles, including export-oriented ready-made garment factories. Garments are a key foreign-exchange earner for Bangladesh. The country’s low wages and duty-free access to Western markets have helped make it the world’s second-largest apparel exporter after China. bb-logo“Two new support...

BB to keep conventional, Islamic banks separate

Bangladesh will keep conventional and Islamic banks operating separately from each other because of concern about possible violations of sharia principles, although the decision is not permanent, the central bank’s deputy governor told Reuters. The central bank will not approve applications by conventional banks to convert themselves bb-logointo Islamic ones and is barring the use of Islamic windows, which let conventional banks offer Islamic financial services provided client money is segregated. “It is our observation that it created complications ...

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 ...
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