Banking | The Daily Star
  • Stay alert about dubious transactions

    The Bangladesh Financial Intelligence Unit (BFIU) yesterday instructed mobile financial service (MFS) providers to inform it of suspicious transactions with a view to reining in “digital hundi” ahead of Eid-ul-Fitr.

  • Bank Asia elects vice chairman

    Romo Rouf Chowdhury has recently been elected vice chairman of Bank Asia. The election took place at a meeting of the bank’s board of directors, says a statement. Chowdhury is one of the sponsor shareholders as well as sponsor directors of Bank Asia. He holds directorship of various sister concerns of Rangs Group and Sea Fishers Group.

  • MTB gets global data security standard certificate

    Mutual Trust Bank has recently become the third Bangladeshi bank to receive the certificate for complying with the payment card industry data security standard (PCI DSS) set by Visa, MasterCard, Discover Financial Services, JCB International and American Express.

  • EBL reappoints Ali Reza Iftekhar as MD

    Eastern Bank Limited (EBL) has reappointed its managing director and CEO, Ali Reza Iftekhar, for three years.

  • Govt’s bank borrowing hits six-year high

    The government has all on a sudden stepped up its borrowing from the banking system from this month as its revenue collection fell short of expectations, sending the cash-strapped banks into a state of panic. Until the end of April, the government did not borrow from banks

  • High Court halts privileges of Loan defaulters in Bangladesh

    HC halts privilege for loan defaulters

    The High Court has halted the privilege of loan defaulters to secure further loans by giving a 2 per cent down payment until June 23.

  • Errant banks to be denied ADP funds

    Banks and financial institutions who failed to lower their interest rates to 9 per cent will not get government’s annual development programme fund.

  • Pubali Bank gets new chairman

    Pubali Bank recently saw the unanimous election of Azizul Huq, founder CEO of Islami Bank Bangladesh, Social Investment Bank and Islamic Finance and Investment, as chairman during a board meeting.

  • Find ways to fight trade-based money laundering

    Banks should develop data banks on their own in order to prevent billions of dollars from being siphoned out of Bangladesh through trade-based money laundering, a study recommended.

  • High deposit rates pulling down stocks

    The head of the Bangladesh Securities and Exchange Commission (BSEC) has expressed helplessness regarding the bearish run of the market, blaming the higher interest rate on savings certificates and bank deposits for the slump. “What can the commission do if the bank deposit

  • Loan Scams in Bangladesh

    Defaulters have the last laugh

    Insanity is doing the same thing over and over again and expecting different results, the influen-tial physicist Albert Einstein once said. And this quote comes to mind when one glances through the Bangladesh Bank’s latest policy for defaulters. Issued on May 16, the notice is an extended

  • Bangladesh Bank

    BB loosens the leash on banks’ stock exposure

    The central bank has widened banks’ scope to invest in the stock market and infrastructural fund as the government looks to put a pause on the longer than usual bear run. The DSEX, the benchmark index of the premier bourse, lost 774.55 points, or 13.07 percent, in the last three months.

  • Bangladesh Institute of Bank Management (BIBM)

    Islamic banks’ profitability shrinks in 2018

    Shariah-based banks’ net profit margin declined to 2.2 percent in 2018 from 3 percent a year earlier at a time when the banking sector’s rose, found a recent study. The banking sector’s net profit margin improved to 3 percent from 2 percent last year, according to the study titled “Islamic Banking Operation of Banks-2018”.

  • Bangladesh Notes

    Cash use costs Bangladesh Tk 9,000cr every year

    The country has to count more than Tk 9,000 crore a year because of its heavy dependence on cash, necessity to move towards a cashless society. The maintenance cost of the printed money is nearly 0.50 percent of the country’s GDP, Central bank report styled ‘Reducing the Cash Transaction’.

  • Bangladesh Bank

    BB agrees to redefine banks’ stock exposure

    The central bank has decided in principle to exempt banks’ investments in non-listed companies from capital market exposure, a move that can give banks plenty of room for fresh investments in the stock market.

  • NCC Bank MD asked to explain abnormal deposits

    The board of NCC Bank yesterday sought explanation from Managing Director Mosleh Uddin Ahmed for his abnormally high deposits as revealed by Bangladesh Financial Intelligence Unit (BFIU).

  • MTB can issue shares to Norfund

    Mutual Trust Bank has got regulatory approval to raise fund to boost its capital base by issuing 6.37 crore new shares to the Norfund,

  • Mercantile Bank to award talented young bankers

    Mercantile Bank has recently launched a second edition of MBL Young Bankers’ Appreciation Award as part of its effort to identify and recognise talented young bankers.

  • Lack of trust weighs on banks

    A lack of trust is to blame for the banking sector’s current woes, said noted economist Wahiduddin Mahmud yesterday.

  • Jamuna Bank gets new chairman

    Md Atiqur Rahman has recently been elected as the chairman of Jamuna Bank.

  • Rumee Ali, new chairman of AB Bank

    AB Bank has appointed Muhammad A (Rumee) Ali as chairman as part of the lender’s effort to improve its financial health.

  • Karmasangsthan Bank gets new chairman

    Former secretary Kaniz Fatema has recently joined Karmasangsthan Bank as its chairman.

  • Bangladesh Bank

    Move to rid banks of NPL burden

    The central bank has moved to form an asset management company to deal with the growing non-performing loans (NPLs) of banks, as part of its efforts to perk up the ailing sector.

  • Recovery fails to keep pace with default loan spike

    The pace of recovery of banks' nonperforming loans (NPL) was much lower than the rate at which their NPL increased last year -- an ominous development for the sector.

  • AIIB lends $120m for Ctg power system upgrade

    The Asian Infrastructure Investment Bank (AIIB) has approved a loan of $120 million for a project that will upgrade and expand the power transmission system in Chittagong.

  • Loan rescheduling hits peak

    Banks have rescheduled a record amount of default loans last year, fuelling further fears of the sector's health.

  • RCBC files defamation case against Bangladesh Bank

    Philippine’s Rizal Commercial Banking Corporation says it filed a defamation suit against the central bank of Bangladesh for “baseless allegation” in connection with the $81-million cyber heist three years ago.

  • Money Embezzlement in Bangladesh

    ACC files plea challenging Farmers Bank MD’s bail

    The Anti-Corruption Commission (ACC) challenges the February 13 order of a metropolitan magistrate that granted bail to former Farmers Bank Managing Director and CEO, Chowdhury Mustaque Ahmed in a case filed over embezzling Tk 29 crore from the bank.

  • Prime Bank, JCB launch platinum credit card

    A platinum credit card was launched in Bangladesh yesterday through a partnership between Prime Bank and international payment channel Japan Credit Bureau (JCB) Co for the first time.

  • Banks get six months more to lower ADR

    Banks have got another six months to lower their advance-deposit ratio, a move that is expected to tame the current volatility in the money market.