Jeddah-based IDB to sell off two-thirds of its Islami Bank shares The Islamic Development Bank is selling off two-thirds of its shares in Islami Bank Bangladesh Limited (IBBL) as part of its tenure strategy to drive maturing institutions. The Saudi-based lender is bringing down its share to 2.1% in IBBL

Interest rates on savings tools may go down Finance Minister AMA Muhith yesterday hinted at lowering the interest rates on savings instruments as the returns from these tools are very high compared to other rates prevailing in the market. Steps in this regard may be taken in the next budget

Private investment flatters to deceive Private investment continues to remain obstinately stuck in the slow lane, putting a damper on the country’s growth aspirations. In fiscal 2016-17, private investment to gross domestic product ratio is expected to be 23.01% — only 0.02% points higher than the previous year, according to

Remittance tumbles 23pc Remittance tumbled 22.68 percent year-on-year in September due to a decline in the income and savings of Bangladeshi expatriates living in the Middle East as a result of the oil price slump. Migrant workers sent home $1.04 billion last month, according to the Bangladesh Bank’s provisional data.

Bangladesh Bank puts cap on dollar rate for importers Bangladesh Bank yesterday put a cap on the US dollar at inter-bank exchange rate plus BDT 2.0, to control the recent volatile market, said bankers. The central bank informed the treasury officials of the commercial banks about the ceiling at a