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The country’s banking sector passed yet another turbulent year marred by growing bad loans and unstoppable scams caused by hostile takeover of private banks and exposure of two new private banks to almost bankruptcy. The swelling bad loans have been described by experts as chronic problem while they identified this takeover of banks as ‘hijack’ […]

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Operating profits of most of the scheduled banks increased significantly in the just-concluded year of 2017 amid rampant credit disbursements by the banks, said senior bank officials. Out of 28 banks, data of which were available till Sunday, operating profits of 27 banks rose in the year. Relatively calm political situation, moderate rise in export […]

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Sajjadur Rahman and AKM Zamir Uddin The cash-strapped Farmers Bank failed to repay interbank short-term loans of about Tk 700 crore to four banks over the past two months, a development that may further erode depositors’ confidence in the scam-hit bank. The interbank lending market is where banks borrow from each other for a specific term, mostly […]

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Central bank investigators have stacked ten specific allegations against Dewan Mujibur Rahman. Photo: NRB Commercial Bank. The central bank has fired NRB Commercial Bank’s top official after it found evidence of corruption and irregularities against him. Dewan Mujibur Rahman, who served as the managing director and CEO, has also been barred from working in any […]

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Bangladesh Bank today removed NRB Commercial Bank’s Managing Director Dewan Mujibur Rahman over gross irregularities including corruption. Suvangkar Saha, spokesperson and executive director of the central bank, confirmed it to The Daily Star. The central bank earlier served show-cause notice against him on 10 counts of wrongdoings, including signature forgery, interference of outsiders in the board and […]

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The total default loans will be Tk125,307 crores More and more businessmen are showing keen interest to open new commercial banks in Bangladesh, even though the country’s banking sector is under stress because of financial problems like non-performing loans (NPLs). As of September 30, the 57 commercial banks in the country have disbursed total loans […]

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AKM Zamir Uddin Banks and MasterCard have urged the central bank to review its directive to route all card transactions from the new year through the National Payment Switch of Bangladesh in a bid to mitigate risks of cyber attacks. Their concern stems from the NPSB’s lack of PCI-DSS certification, a global security standard for […]

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Cheques and imbalancesThe government initiates a coup at Bangladesh’s biggest bank Board members receive a visit from military intelligence IT WAS an odd job for a spy agency. On the morning of January 5th military intelligence operatives phoned the chairman, a vice-chairman and the managing director of Islami Bank Bangladesh, picked them up from their […]

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Banks are in a fix over loan recovery, with big defaulters failing to repay despite rescheduling. Officials said a large section of businesspersons, who have availed this concession, are not even bothering with repayments. They said other defaulters are now also asking for their loans to be rescheduled and around 80 businesspersons with default loans […]

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Wall Street Journal U.S. Preparing Cases Linking North Korea to Theft at N.Y. Fed Investigators build charges against Chinese middlemen for allegedly aiding 2016 cyberheist of $81 million from Bangladesh The New York Federal Reserve building in New York. Some foreign governments, central banks and other institutions keep money at the New York Fed, enabling […]

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সাড়ে ৮০০ কোটি টাকা আত্মসাৎ, থমকে আছে দুদকের অনুসন্ধান মোর্শেদ নোমান | আপডেট: ১৬:৩১, ফেব্রুয়ারি ০৬, ২০১৭             দুদক ও জনতা ব্যাংকরাষ্ট্রায়ত্ত জনতা ব্যাংকের সাড়ে ৮০০ কোটি টাকা আত্মসাতের অভিযোগ নিয়ে দুর্নীতি দমন কমিশনের (দুদক) অনুসন্ধান অনেকটাই থমকে আছে। সংশ্লিষ্ট লোকজনের অভিযোগ, অদৃশ্য ইশারায় থমকে আছে ওই অনুসন্ধান। ওই অভিযোগের […]

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Banks’ directors seem to be good borrowers as their loan repayment records are far better than the other groups of borrowers. As of September 30, directors of the 56 scheduled banks took loans worth Tk 88,790 crore from each other’s banks, according to data from Bangladesh Bank. The sum is almost a seventh of the […]

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