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JS probe finds up to Tk 400cr invested, rest of the money remains traceless; suggests grilling Hall-Mark boss for answer Sajjadur Rahman and Shakhawat Liton Controversial business group Hall-Mark invested only Tk 300-400 crore from the nearly Tk 2,700 crore it had fraudulently taken in loan from Sonali Bank. A government probe committee that was […]

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Analysts at the roundtable say the service needs further promotion, coordination Participants take part in a roundtable on mobile financial services at The Daily Star Centre in Dhaka yesterday.Photo: STARStar Business Report Bangladesh can use mobile financial services not only to accelerate financial inclusion, but also to bring more than 85 percent unbanked population to […]

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The High Court on Sunday ordered investigation into the alleged irregularities in loan disbursement by the state-owned Janata Bank. The bench of Justices Naima Haider and Muhammad Khurshid Alam directed the Finance Secretary to form the probe panel led by a former Bangladesh Bank Governor within seven days after a primary hearing on a writ […]

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L-R: Photo shows a fire that breaks out at a RMG factory in Ashulia Saturday, leaving 111 people dead and the portion of damaged flyover that collapses on same day in Ctg, claiming the lives of at least 12 people. Pubali Bank Limited donated Tk 2 crore to the Prime Minister’s Relief Fund to help […]

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Twelve out of 47 banks in the country held 72 per cent of classified loan or default loan of the banking sector as on September 31 of this year as they disbursed significant amount of loans unlawfully to the clients, said Bangladesh Bank officials.   According to the latest BB data, the classified loans in […]

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The amount rises by Tk 7,282cr during July-Sept Bad loans increased by Tk 7,282 crore or 1.58 percentage points in the third quarter this year as a significant amount of loans related to the recent incidents of scams was classified. The central bank is putting pressure on the banks to get the real picture of […]

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The central bank will introduce the Real Time Gross Settlement (RTGS) in the financial services of commercial banks by 2014 to ensure smoother and quicker inter-bank clearing of payments, said Bangladesh Bank (BB) officials on Sunday. “We’re working to develop the swift finance service mechanism, and the RTGS will be introduced by 2014 to integrate […]

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Just past board of the bank approved Tk 65cr loan Sajjadur Rahman The immediate past board of directors of Sonali Bank approved a Tk 65.41 crore project loan for controversial Hall-Mark Group, which shows that the board was responsible, at least partly, for the Hall-Mark loan scam. Of the amount, Tk 57 crore has already […]

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No appointment of directors in 2 months due to lobbying by political aspirants Powerful vested interests are lobbying for the posts of board directors of state-owned banks that have been plagued by irregularities due to interference from some outgoing directors with political affiliation. The tenure of the boards of state-owned-commercial banks (SOCB) expired in the […]

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The prime minister’s Health Adviser Modasser Ali on Wednesday admitted that he had visited the Hotel Ruposhi Bangla branch of Sonali Bank several times ‘mistakenly’. “On request of my relative in the bank I visited the bank several times. And my relative introduced me with Hall-Mark group MD Tanvir Mahnud Tanvir to blackmail me intentionally,” […]

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Syed Jamaluddin Discipline in the banking sector is apparently under strain. At the same time criminal activities in banks have increased. In the absence of good governance, many banks have indulged in irregular activities and corruption. Sensational stories are emerging from the banking sector. As a result, customers are losing confidence. As no firm action […]

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Abdur Rahim Harmachi Chief Economics Correspondent Dhaka, Nov 1 (bdnews24.com)—Expatriate Bangladeshis remitted $1.4536 billion back home in October, a record high for a month, according to Bangladesh Bank. The previous high was $1.22 billion in January. The latest amount pushed up the total remittance in the first four months (July-October) of the current fiscal to […]

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