The loan classification policy of Bangladesh Bank will most likely be relaxed this month, indicated Finance Minister AMA Muhith.
The move comes in response to demands from garment exporters, who are left staring at huge losses after months of severe disruptions to their businesses owing to political turbulence.
They said the current loan classification policy, which marks a loan to be classified when the repayment period overshoots by three months, is “killing” them. Although they are still eligible for new loans, the banks put excessive pressure on them to make their payments, reports the Daily Star.
“I think we will have to do something about it,” the minister said during a meeting with top leaders of the three main garment manufacturers...
The poultry industry of the country has demanded the rescheduling of bank loans, exemption of bank interest and financial incentives to recover losses due to ongoing hartal and blocked.
The leaders of the poultry industry said, the sector has suffered a loss of more than Tk 4,000 crore in the last three months due to political instability.
This was disclosed at a press conference on Wednesday organized by Bangladesh Poultry Industries Coordination Committee (BPICC), a body of six major poultry associations, at National Press Club in th...
The International Business Forum of Bangladesh (IBFB) and its President Hafizur Rahman urged Bangladesh Bank to take adequate financial measures to safeguard economy and business of the country during the ongoing volatile political situation.
In a recent proposal sent to the Governor of Bangladesh Bank, IBFB strongly suggested some special financial measures such as extending the deadline for CIB Reporting, rescheduling bank loans, reducing lending rate up to 10 per cent or below, bringing down the interest rate spread below 4.0 per cent etc. IBFB, as mentioned in the proposal, strongly believes that in a growing democratic country like Bangladesh peaceful and business friendly environment is a sine qua non for ensuring the development wheel rolling on through which trades and busine...
Bangladesh Bank (BB) has issued guidelines on agent banking seeking applications from the commercial banks to start such banking business in the country.
The commercial banks will now be allowed to introduce agent banking for strengthening their ongoing financial inclusion programme through bringing un-banked people into the banking channel, reports the Financial Express (FE).
“We’ve introduced the guidelines aiming to provide regulatory framework for the agent banking which will create an enabling environment for offering safe financial services to the new target group,” BB Executive Director Das Gupta Asim Kumar told the FE.
He said people, who are living in remote and hilly areas, would avail banking services including...
Bangladesh has discovered a way to grow its telecom sector in spite of some odds. The nation of more than 150 million people, with its comparatively low GDP per capita, has been involved in the creation of a very competitive mobile telco market. Most noticeable has been the willingness of Bangladesh to encourage foreign participation in these endeavours.
Bangladesh though remains one of the poorest, most densely populated, least developed countries in the world; yet it has somehow managed to show considerable spirit in the development of its telecom sector.
Bangladesh Bank (BB) will provide $ 25 million loan assistance to Standard Group to recover the losses in recent arson attacks on the group’s readymade garment (RMG) factory at Gazipur industrial belt.
The decision was taken at a multipartite meeting among BB officials, Standard Group management, CEOs of five commercial banks and BGMEA representatives at Bangladesh Bank Bhaban.
BB governor Atiur Rahman, BGMEA (Bangladesh Garment Manufacturers and Export...
