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

BB takes new measures to beef up liquidity supply: CRR cut by 1.0pc, ADR deadline extended further Bangladesh Bank (BB) will slash Cash Reserve Requirement (CRR) of the banks by 1.0 percentage point to 5.50 per cent to help mitigate the present liquidity crunch in the banking system. The decision

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

Banks, power producers get a boost from BB The central bank has exempted banks from keeping provisions in opening letters of credit to import equipment for electricity plants in order to fast-track the completion of power projects. As per the new directive issued on Wednesday, banks will be eligible for