11:18 am - Friday February 21, 2020
Browse Tag

economy

Coastal villagers pay price for climate change

Sushil Kumar Mondol, left, sits inside his home in a coastal area of southern Bangladesh. (Photo by Stephan Uttom)
Since 2010, Seeta Rani Mohaldar and her husband have lived like refugees. Her home now is a small, one-room structure with no electricity or running water. Seeta treks kilometers into the forest to fish and collect firewood: she is her family’s sole breadwinner. “If I have a good catch, I can earn up to 250-300 Taka (US$3-4). We can manage meals for two days with that money,” Seeta said in a recent interview. [caption id="attachment_18542" align="alignright" width="540"]Sushil Kumar Mondol, left, sits inside his home in a coastal area of southern Bangladesh. (Photo by Stephan Uttom)

Incredible $ 15.31b remittance in 2015 fiscal

BD-workforce in KSA
A total of 9.4 million Bangladeshi migrants are toiling in various parts of the globe and sending their hard-earned money back home. The fruits of their hard-work are paying off as an incredible $15.31 billion in remittance was received in fiscal 2015 - the highest in the country’s history. BD-workforce in KSAAlthough total migration has declined by 30% in 2014 compared to 2012, the number of Bangladeshi female migrants has been on the rise despite global economic slump. One country which stands out in terms of employment of...

Banks’ profit eroded by bad loans

A Financial Stability Report for 2014 has been released by the Bangladesh Bank, the nation’s central bank, and a key outcome of it is that high non-performing loans (NPLs) eroded the earnings of banks last year. The report says that return on asset and return on equity, the two major indicators used to measure a bank’s profitability, decreased by 20 and 260 basis points to 0.7 and 8.1 percent respectively from a year ago. The rise in NPLs last year forced banks to set aside a major portion of their profits for bb-logoprovisioning, the Daily Star quot...

IBBL ranked in top thousand banks of the world

1000 banks
Islami Bank Bangladesh Limited (IBBL) has been ranked among the top 1000 banks of the world as the sole bank of the country. 1000 banksThe Bank’s position is now 954th in 2015 based on the strength of Tier-1 capital progressing 46 steps in three years. In 2012, 2013 and 2014, the Bank’s position was 1000th, 984th and 970th respectively. Besides, the bank has been ranked as 70th, 250th, 791st and 785th considering the return on capital, return on assets, capital...

Mobile phones to move money

mobile-money
Bangladesh, home to the world’s second-largest mobile money company, is moving to consolidate the industry as it expands financial services to the rural poor. The central bank has proposed channeling all mobile transactions through bank-led companies with a minimum capital of 1 billion taka ($13 million), said Bangladesh Bank Governor Atiur Rahman. This would force smaller providers to merge and link up with banks. mobile-money“There are a lot of entrepreneurs who could never be reached by conventional banks,” Rahman said in an interview in...

BEZA seeks funding for spl economic zone

gov1
The Bangladesh Economic Zone Authority (BEZA) has sought funding from the finance division of the Bangladeshi government to set up a special economic zone at Anwara upazilla in the port city of Chittagong to attract Chinese investment. gov1The BEZA has recently sent a proposal to the finance ministry seeking over 420 crore taka interest free fund for acquisition of land for the Chinese Economic and Industrial Zone (CEIZ).
Paban Chowdhury, BEZA executive chairman, told Xinhua: "We have sent a letter req...