BB failed to get info about Bangladeshi depositors in Swiss banks The Bangladesh government has already sought information about Bangladeshi depositors in Swiss banks but are yet to receive a reply, said Finance Division officials. They said Bangladesh Bank had sent several letters to the Swiss National Bank over the

New cashless payment system in the offing Bangladesh is moving one step closer to being a cashless society after the central bank gave the go-ahead to a company to facilitate payments between parties through online fund transfers. Called the iPay, the fintech startup’s system will function like Paypal, which operates

BB begins special probe: Alleged ‘misreporting’ on forex rate to central bank by some banks The central bank has started carrying out a special inspection to detect irregularities relating to foreign exchange reporting by the commercial banks, officials said. Three inspection teams of Bangladesh Bank (BB) started on-site inspection Sunday

$400m up for grabs for key infrastructure dev The central bank has undertaken Investment Promotion and Financing Facility (IPFF-II) project with over US$400 million disbursement target for infrastructure development in nine key sectors. An official list of the sectors eligible for drawing the funds includes ports, power, environment, industrial estates

SoCBs’ provision shortfall widens on higher NPLs Public banks are getting into some difficulty in lending as their overall shortfall in provision against both classified and unclassified loans increased over 6.0% in the first quarter (Q1) of this year. According to the central bank’s latest statistics, the amount of provisioning