World Bank: Bangladeshis abroad remit $13.5bn in 2017 Bangladesh received $13.5 billion as remittances in 2017, the World Bank said on Monday. Globally, Bangladesh is the ninth highest recipient of remittances and in South Asia it ranks third after India, $69bn, and Pakistan, $19.7bn. In its latest Migration and Development

July-Jan trade deficit soars 92pc to $10.12b The country’s overall trade deficit crossed US$10-billion mark in the first seven months of the ongoing fiscal year (FY), 2017-18, mainly due to higher import payments against lower export receipts, officials said. The deficit rose by nearly 92 per cent or $4.84 billion

BB issues new rules on hiring CFO, CITO for banks The central bank has introduced a new set of regulations on appointment of chief financial officer (CFO) and chief information technology officer (CITO) of the banks to ensure good governance in the banking system. Under the new regulations, minimum 12

Credit binge squeezes banks’ liquidity The overall excess liquidity with the country’s banks shrank by nearly 18 per cent or Tk 154.61 billion by January, mainly for a lending binge against a deposit dearth. Selling the US dollar by the central bank also contributed to the trimming of their excess

BB reinforces forex support to banks The central bank has strengthened its foreign currency support to the commercial banks for settling import payment obligations, particularly of food grains and fuel oils. As part of the move, the Bangladesh Bank (BB) sold US$ 15 million directly to two commercial banks on