Bangladesh Bank
BB fixes dollar price at Tk117, increasing by Tk7 in a day, due to IMF pressure
In the context of a dollar crisis continuing in the country for a long time, the Bangladesh Bank has fixed the official price of the dollar at Tk 117 per dollar in order to fulfill the loan conditions of the International Monetary Fund (IMF), according to central bank circular issued on Wednesday (May 8).
Jurnos boycott central bank briefing
The economic reporters of different print, electronic and online media Wednesday (May 8 boycotted the press conference of Bangladesh Bank in protest of the recent ban imposed by the central bank on entry of journalists.
BB decision over journos' entry remind about ancient monarchy
The parent organization of the financial institutions of Bangladesh is the Bangladesh Bank or the Central Bank. The recent decision by the Bangladesh Bank to impose restrictions on journalists' access to its premises has sparked controversy. According to the new policy, journalists can only enter the premises with specific authorization passes, and even then, they are restricted to meeting only the designated officials. Previously, journalists had unrestricted access to various departments of the central bank.
Success of controlled free market economy impossible
In the same way that one cannot win a footrace with a rope tethered to their feet, a free market economy cannot thrive under restrictive conditions. A free market economy isn't synonymous with a laissez-faire approach; rather, it requires certain conditions to function optimally. Regulatory oversight is essential to ensure that the natural flow of the market isn't obstructed. Intervention should only occur in cases of abnormal circumstances.
Upazila polls: Central bank seeks information of candidates to identify loan defaulters
Bangladesh Bank has instructed all returning officers to provide information about the candidates of the second phase of upazila parishad (UP) elections so that loan defaulters do not become candidates.
Factors to consider before bank consolidation
For a long time, the banking sector in the country has been plagued by various complex problems. Failures in recovering loans from defaulters engaged in fraudulent activities, inability to control internal malpractices and ensure good governance, increasing incidence of insider lending, and the proliferation of banks—all these complex issues have slowed down the normal functioning of the banking sector. It is primarily to address these problems that the decision to consolidate banks has been taken.
Remittance flow increases after Eid
The flow of remittance did not increase before Eid-ul-Fitr this year, but it has increased after the Eid. According to the updated report of Bangladesh Bank released on Sunday (April 21), until April 19 of the current month, expatriates sent remittances worth $1.28 billion.
Bank Asia to take over Alfalh
Bank Asia is set to take over Alfalah, a foreign bank, in a departure from Bangladesh Bank's decision that no more merger of banks will be allowed.
Dhaka district receives lion's share of remittances so far in current fiscal: BB
This figure means that most of the families of expatriates stay in Dhaka or they have most of their accounts in the bank branches of Dhaka.
BASIC Bank merging with City Bank
BASIC Bank is expected to be acquired by the private sector lender City Bank, as the central bank pushes forward with its initiative to facilitate the acquisition of weaker banks by stronger ones.
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