Dhaka May 10, 2025, 3:55 am
Budget deficit financing swells govt debt
The central bank had earlier asked the banks to set the interest rate in line with the euro currency deposit rates. But through the circular, the BB has now made the rate competitive
The credit is from the World Bank’s International Development Association (IDA), which provides concessional financing, and has a 30-year term, including a five-year grace period
As part of the import monitoring framework, banks will now be required to report all types of foreign exchange transactions, including those of offshore banking operations
The new governor also stressed the need for bringing back stability in the foreign exchange market by stabilising the exchange rate between the Taka and the US dollar
Prior to the new appointment, Abdur Rouf served as senior secretary to the Ministry of Finance
Four state-owned banks and seven private ones will disburse the loans
The payment system department of BB on Tuesday issued a circular in this regard and sent it to the top executives of all banks and mobile financial service providers
The central bank set banking hours in these areas from 10.00am to 8.00pm on July 8 and 9 (Friday & Saturday) to facilitate the sacrificial animals' traders
The BB also instructed to keep open bank branches in the Chattogram metropolitan and industrial areas to facilitate payment of garment workers’ and received export bills
Higher foreign trade, covering export and import, helped the banks to earn more as operating profit during the period under review
Taming inflation, stabilising forex reserves key targets
The Agriculture Credit Department (ACD) of the central bank on Monday issued a circular asking banks to disburse 40 per cent of the remaining allocation of Tk 30.0 billion refinance scheme in the flood-affected districts
The farmers, who borrowed for cows and calves farms at 4 percent interest rate under the loans scheme of enhancing milk production, can repay the loans by December 31, 2024
The central bank has strengthened its foreign-currency support to the scheduled banks in recent months to handle volatility in the forex market
The central bank asked Uttara Finance to take action to secure the depositors' interest
Padma Bridge would make significant contribution to Bangladesh’s attainment of a middle income country status as well as graduation to a higher income county soon
The new commemorative note will be available at Bangladesh Bank's Motijheel office and later at other branch offices from tomorrow
Checking inflation, helping productive sectors come first
Despite growing risk, digital payment and even the use of digital currencies has been increasing in the global arena
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