Taka weakens against dollar, substantially The Bangladesh Taka (BDT) has fallen considerably against the US dollar as the demand for the greenback grew to meet import payment requirements. The local currency weakened by 50 poisha in a single day in the inter-bank foreign exchange (forex) market on Tuesday, according to

Strong judiciary support a must to speed up recovery process of classified loans: ABB chief tells FE Country’s banking sector has sought strong judiciary support to speed up recovery process of classified loans, saying that it would also help improving financial health and growth of the banks. “We need a

Savers to keep off banks The country’s business leaders and economists criticised the government heavily for hiking the excise duty on bank deposits in the proposed budget for next fiscal year. The increased excise duty would discourage people to use formal financial channels, said Nihad Kabir, president of Metropolitan Chamber

BB eases sale process for foreigners to attract FDI The central bank has simplified and rationalised the sale process of foreigners’ equity investment in both public and private entities to attract more foreign direct investment (FDI) in Bangladesh. Under the rationalisation and simplification of sale process, buyers and sellers will

Transactions of high-value cheques with banks boom High-value cheque transactions with Bangladesh’s banking system have increased significantly, driven by big turnovers of corporate bodies, sources said. Such banking bonanza, from economic point of view, reflects a growing momentum in the economy. The number of such hefty cheque transactions, valued Tk