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The Bangladesh Securities and Exchange Commission has moved to take action against 22 merchant banks which failed to manage any initial public offering in two calendar years. The decision came from a recently held commission meeting, a BSEC official said. Under the move, the commission will issue second spell of show-cause notices to the merchant […]

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Most borrowers did not repay the capital borrowed from Equity and Entrepreneurship Fund of the Bangladesh Bank in time as eight-year time frame for the repayment already expired and the projects disappeared. According to the latest Bangladesh Bank and Investment Corporation of Bangladesh data, 229 projects, which borrowed capital of Tk 528.45 crore from the fund, […]

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Experts and bankers on Thursday gave opinions that the banks and non-bank financial institutions should maintain cautious policy to select clients for loan syndication as the credit volume of the projects are usually larger than the ordinary ventures. Their opinions and recommendations came from a research workshop on ‘Loan Syndication in Bangladesh : Status and […]

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It is high time that alternatives were considered in order to stop propping up these highly inefficient institutions while wasting money from the public coffers The latest Bangladesh Bank data reveals an alarming trend: The number of loss-making branches of six state-owned banks has doubled at the end of the 2015-2016 fiscal year from the […]

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Junaid Kamal Ahmad has taken over as the World Bank’s new Country Director for India, replacing Onno Ruhl, who completed his four-year term, an official statement said in New Delhi on Tuesday. Ahmad, a Bangladeshi national, was formerly Chief of Staff to World Bank Group President Jim Yong Kim. “India’s recent growth and development has […]

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Bangladesh plans to take a hard loan of $600m from the World Bank for a short term along with a soft loan for the country’s productive infrastructural projects, said official sources The government has also taken an initiative to start the second phase of the Investment Promotion and Financing Facility (IPFF) project. Finance Division officials […]

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The probe body report on the cyber heist of Bangladesh Bank’s account with New York’s Federal Reserve Bank will be made public on September 22, finance minister Abul Maal Abdul Muhith said on Sunday. ‘The report will be made available online on September 22 so that people can have easy access to the document,’ the […]

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The world’s major central banks, stung by this year’s $81-million heist in Bangladesh, have launched a task force to consider setting broad rules to protect the vast network of cross-border banking from cyber attacks, according to two sources with knowledge of the matter. The committee of central banks, part of the Bank for International Settlements […]

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The Department of Justice (DOJ) of the Philippines has wrapped up its preliminary investigation on money laundering charges connected to the high-profile $81 million cyber heist at the Bangladesh Bank account at the Federal Reserve Bank of New York, reports Daily Inquirer. The Filipino newspaper reported that Assistant State Prosecutor Gilmarie Fe Pacamara on Thursday […]

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The Federal Reserve Bank of New York has agreed to help towards bringing the hackers behind the Bangladesh Bank cyber heist under law as well as recovering the stolen money The assurance came at a tripartite meeting among senior officials of Bangladesh Bank, Fed and SWIFT held on Tuesday in New York. NY Fed agreed […]

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The government has appointed new managing directors to three state-owned commercial banks, Sonali, Agrani and Rupali. Karmasangsthan Bank MD Md Obayed Ullah Al Masud has been chosen to run Sonali Bank while Ansar-VDP Unnayan Bank MD Md Shams-Ul Islam will lead Agrani Bank. Also, Probashi Kallyan Bank MD Md Ataur Rahman Prodhan has been put […]

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Outstanding amount of banks’ consumer loans almost doubled in two years, surpassing Tk 50,000 crore as of March 31, 2016 as the country’s business sector has been going through a dull situation in recent years amid political uncertainty and delicate law and order situation. According to the latest Bangladesh Bank data, the outstanding consumer loan figure […]

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