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Economist, bankers see little scope for banks in Bangladesh to cut interest rate

A file photo shows the Bangladesh Bank headquarters at Motijheel in Dhaka. A leading economist and top bank executives on Saturday said that it would be difficult for banks to bring down interest rate on deposit to 6 per cent and lending rate to 9 per cent given the country’s inflation situation and banks’ non-performing […]

A file photo shows the National Board of Revenue headquarters in Dhaka. The NBR has asked all banks not to allow double taxation avoidance benefits to any non-resident taxpayers without NBR certificate. — New Age photo National Board of Revenue has asked all banks not to allow double taxation avoidance benefits to any non-resident taxpayers […]

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In the just-concluded fiscal year, Bangladesh Bank sold $2.31 billion to keep the currency market stable. The figure is the highest in five years. On Monday, the inter-bank exchange rate of the dollar stood at Tk 83.7 after an increment of 4 percent occurred from Tk 80.59 which was the rate a year earlier. The […]

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Prime Minister Sheikh Hasina meets with leaders of Bankers Association of Bangladesh (BAB), Wednesday June 20, 2018 Focus Bangla The interest on three month term deposits to be fixed at 6% Owners of private commercial banks have decided to bring down the interest rate on lending to 9% and that on deposits to 6% from the […]

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The budget for the 2018-19 fiscal is presented in parliament on Thursday. Photo: PID Opposition leaders and some lawmakers from the ruling party have come down hard on Finance Minister ABA Muhith over the loan scandals and mismanagement that plagued the banking sector amid discussions on budget in parliament. Most of the lawmakers criticised the […]

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Bangladesh Bank. – New Age file photo The government is likely to set aside Tk 1500 crore in the upcoming national budget in bailout fund for scam-hit state-owned banks despite opposition from experts, think-tanks and right groups. The proposed allocation is, however, Tk 500 crore less than the bailout fund of Tk 2,000 crore allocated in the […]

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Photo:Syed Zakir Hossain ‘We have already started reconstruction and reforms of Farmers Bank. The bailout will turn the bank into a semi-government bank as the five state-owned organizations will hold 60% of its shares’. In a bid to save the scam-hit Farmers Bank Ltd from the liquidity crisis, the government and Bangladesh Bank have authorized […]

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Nine banks, including six state-owned banks, are facing Tk 19,446.6 crore shortfall in capital as of December 31, 2017 amid loan scams and failure to recover growing defaulted loans. Total capital shortfall of the same banks was Tk 17,966 crore at the end of September 2017 quarter which increased by Tk 1480.6 crore during the October-December 2017 period. […]

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  Banks facing intensified liquidity crisis       Islami Bank Bangladesh Limited has recently curtailed the authority of its branch managhers, making it mandatory to take permission of the head office for distributing loan amounting to Tk 500,000 and above. Any of the 332 branches of the country’s largest private commercial bank earlier could disburse any amount […]

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If the new banks, especially the failing ones, want to come back to business, they have to practice inclusive banking, and other new types of banking, in which there is huge market space and possibility of success A number of new banks are desperately striving to collect deposits by offering attractive rewards like jobs. But […]

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Seven banks of Bangladesh are currently operating with capital deficits totalling over Tk 94 billion until September last year – a crisis that threatens to metastasise into a large-scale banking meltdown. The total amount of capital deficit in state-owned banks Sonali, Rupali, Janata and BASIC was more than Tk 76.26 billion. Privately-owned Commerce Bank, Farmers […]

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Inam Ahmed and Shakhawat Liton   Seven months after the government announced a Tk 2 crore “recapitalisation” of state-owned banks, the financial institutions have started asking for fresh money from the government. This time their demand is much higher — a little over Tk 20,000 crore — than what they were given in the budget […]

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