Daily Newspaper in Bangladesh || Most Popular Online Newportal in Bangladesh

Most banks ignore BB order to provide names of wilful defaulters

Jibon Islam

Though the Bangladesh Bank (BB) wants to pressurize by publishing the lists of the wilful defaulters, most banks do not show much interest to provide information of the wilful defaulters. Even after issuing specific policies in this regard, most banks do not comply with it except for a few steps. According to the policy, the wilful defaulters ...

Lack Of Public Trust

Banks struggling to attract deposits even with high interest rate offers

Jibon Islam

More than half a dozen of local banks have been struggling to attract deposits even with high interest rate offers due to a lack of public trust. Public trust in the banking sector has been eroded, with concerns about the financial instability of certain banks and reports of big loan scandals by some corporate groups which ...

Govt's bank debt is ncreasing rapidly

Jibon Islam

The government's bank debt is increasing rapidly. In the first 9 months of this fiscal year (from July to March), government's debt from commercial banks exceeded Tk 93,000 crore. However, the government did not take any loan from Bangladesh Bank during the same period. On the contrary, it has repaid more than Tk 41,000 crore of its ...

BD's foreign debt decreases by $740m in 3 months

Jibon Islam

Country's most banks and financial institutions have reduced the limit of dollar use, leading to a slowdown in the offshore banking business. It has also affected the foreign debts. As a result, foreign debts of the country have decreased by US$ 740 million in the last three months (October to December) of this year, according to ...

Govt spends Tk 62,560cr on payment of debt interests

It is 27pc higher than last fiscal

Jibon Islam

Govt spends Tk 62,560cr on payment of debt interests

The burden of interest on government debt is increasing day by day. Once, less than 30 per cent of the government's operating expenses were spent on paying interest on debts. But in the first six months of the current 2024-25 fiscal year (July-December), the interest rate has exceeded 34 per cent.During this period, the government ...

Trump's tariff policy may fuel further defaults in banking sector

Jibon Islam

Country's banking sector is going through a delicate situation due to the pressure of large-scale defaults.More than 20 per cent of the loans in the banking sector have already been listed as defaulters. In this situation, those concerned fear that the tariff policy imposed by US President Donald Trump will push the country's banking sector into ...

Govt's bank borrowing exceeds Tk 85,000cr

Slow revenue collection, lack of foreign loans blamed

Jibon Islam

Govt's bank borrowing exceeds Tk 85,000cr

The government's borrowing from the commercial banks has exceeded Tk 85,000 crore in first eight and half a months (July 1 to March 10) of the current fiscal year. Of the amount, it borrowed Tk 25,000 crore in only last 40 days from February 1 to March 10 this year, according to the Bangladesh Bank (BB) ...

Deposit Protection Ordinance

Draft Law now opens for public feedback

Jibon Islam

The government has taken the initiative to enact a new law called the 'Deposit Protection Ordinance' by repealing the Bank Deposit Insurance Act. The Financial Institutions Division of the Ministry of Finance published the draft of this ordinance on its website last Thursday and sought the opinions of stakeholders. The draft states that the purpose of ...

Govt receives $2.3 billion in foreign aid commitments in eight months

Jibon Islam

After the interim government took office, there was a renewed expectation of an increase in foreign aid from various quarters. However, new loan commitments decreased in the first eight months (July-February) of the current 2024-25 fiscal year by 68 per cent compared to the same period of the previous fiscal year as funding also decreased.According ...

Banks struggle with bad loans

Jibon Islam

The amount of bad loans in the country's banking sector reached a record Tk 291,538 crore at the end of December last year, thanks to poor corporate governance in the sector. The sum was over 20 per cent of total disbursed loan. Banks altogether disbursed Tk 1,711,402 crore loans at the end of December last, according ...