Remittance inflow in May declines to $1202 million
The country’s foreign remittance earning last month slightly declined to stand at $ 1202.18 million compared to $ 1230.57 million the previous month of April.
The remittance inflow in March totalled $ 1288.62 million, according to the latest data provided by the Bangladesh Bank.
The central bank data also showed that some $ 14,461.14 million came as remittance in the last fiscal year (2012-13).
Of the total remitted amount till May this year, the highest $ 801.61 million came through the private commercial banks, reports UN...
Of the total remitted amount till May this year, the highest $ 801.61 million came through the private commercial banks, reports UN...
Growth assumptions for next fiscal unrealistic: Economists
Leading economists are not in agreement with the government’s growth assumptions for the fiscal year 2014-15 saying those are not sufficient for a higher trajectory of growth.
They also found a number of assumptions not compatible with ground realities. The government is likely to project a 7.2 per cent GDP growth for the next fiscal (2014-15) in the budget documents.
The Ministry of Finance in the budget documents prepared for the next fiscal expects that the political situation would remain stable in the next fiscal with the private sector getting back its confidence to make fresh investments.
BB allows agent banking in municipal areas
Banks can now operate “agent banking” in municipal (Pourashabha) areas alongside the rural areas.
A Bangladesh Bank (BB) circular Monday amended its previous circular where it had barred agent banking within metropolitan, city corporation and municipal areas.
The Bangladesh Bank’s amended circular, was signed by its deputy general manager of Banking Regulation and Policy Department (BRDP) Anwarul Islam, reports UNB.
“But the bar on agent banking operation in metropolitan and city corporation ...
The Bangladesh Bank’s amended circular, was signed by its deputy general manager of Banking Regulation and Policy Department (BRDP) Anwarul Islam, reports UNB.
“But the bar on agent banking operation in metropolitan and city corporation ...
Sukuk the missing link in Bangladesh Islamic finance sector
Bangladesh has developed a sizeable Islamic finance industry but a lack of sharia-compliant instruments such as sukuk is limiting further growth of the sector, a report by a standard-setting body found.
With a predominantly Muslim population of 160 million, Bangladesh has developed Islamic finance with only marginal regulatory adjustments; the industry has doubled in size in the past four years. The central bank has a small short-term sukuk (Islamic bond) programme which issues six-month tenors to help Islamic banks manage their liquidity, but a wide range of tenors is not available and there are no corporate sukuk.FX reserves snaps 5-month gaining streak
Bangladesh's foreign exchange reserves slipped in May for the first time since December, the central bank said on Sunday.
Reserves at the end of May eased to $20.23 billion from a record high of $20.37 billion the previous month, but were up from $14.53 billion a year earlier. The reserves are enough to cover six months of imports.
Rising exports, strong remittances from Bangladeshis working overseas and slower imports have helped build the reserves, a senior central bank official said.
The marginal drop in May was due to a ...
Rising exports, strong remittances from Bangladeshis working overseas and slower imports have helped build the reserves, a senior central bank official said.
The marginal drop in May was due to a ...
