Trade and Economy
18 thousand customers apply to withdraw money from Sammilito Islami Bank on first day
Managing Director (MD) of Sammilito Islami Bank Md. Abedur Rahman Sikdar has informed that only 18 thousand customers out of 84 lakh have applied to take back the deposit money from the bank on the first day. The rate of applicants is about 0.21 percent of the total customers.
Contractual appointments of MDs of three state-owned banks cancelled
The government has cancelled the remaining tenure of the contractual appointments of the managing directors (MDs) and chief executive officers (CEOs) of three state-owned banks. The three banks are Agrani Bank PLC, BASIC Bank PLC and Bangladesh Development Bank PLC (BDBL).
Non-performing loans in banking sector cross 6 lakh crore Tk
Bangladesh Bank spokesperson and Executive Director Arif Hossain Khan has informed that the amount of non-performing loans in the country’s banking sector stood at 6 lakh 6 thousand 555 crore Tk at the end of June this year. This amount is 32.78 percent of the total loans disbursed by the banks.
Bangladesh Bank’s new circular to ease foreign transactions
Bangladesh Bank has issued a new circular to further ease the process of transactions in foreign currency. Various provisions related to loans, overdrafts and guarantees have been brought together in it. The new directive will remain effective for one year.
Government to procure 4 LNG cargoes to meet energy demand
Cabinet Committee on Government Purchase (CCGP) on Wednesday approved procuring four cargoes of liquefied natural gas (LNG) at prices ranging from $23.98 to $28.03 per million British thermal units (MMBtu) to meet the country’s energy demand.
Government to buy Tk445.6cr worth of oil, lentils for TCB at subsidised prices
The government has approved the purchase of palm olein and lentils for sale at subsidised prices to one crore low-income families holding cards under the Trading Corporation of Bangladesh (TCB). The government will purchase 20 million litres of refined palm olein and 10,000 metric tonnes of lentils at a total cost of Tk445.60 crore.
Bottled soybean oil price rises Tk 5 per litre
The price of bottled soybean oil has been raised by Tk 5 per litre in domestic market, taking the new retail price to Tk 204. The price of palm oil, however, has remained unchanged.
Default loans rise by nearly Tk 18,000cr despite repeated concessions
Despite repeated concessions and policy support for loan defaulters, the country’s banking sector continues to struggle with rising default loans, with the total once again crossing Tk 6 lakh crore at the end of June.
Gold price cut by Tk 4,374 per bhori
The price of gold in the domestic markets has been cut again, with the Bangladesh Jewellers Association (BAJUS) reducing the rate of 22-carat gold by Tk 4,374 per bhori, including VAT.
Higher imports than exports not new for Bangladesh: Commerce Minister
Khandaker Abdul Muktadir, Commerce Minister in charge of the Ministries of Jute and Textiles and Industry and Commerce, does not view higher imports and lower exports in bilateral trade as something abnormal or novel for Bangladesh. In his view, exports are lower than imports in many countries of the world. Such a picture has been continuing in Bangladesh for a long time as well.