12 banks warned for higher credit growth than deposits Bangladesh Bank has warned 12 commercial banks due to their higher credit growth than collected deposits. The BB issued a letter to managing directors and chief executive officers of 12 banks on February 2 asking them to decrease their credit growth

BB clears way for freelancers to earn more from abroad The central bank yesterday raised the maximum limit for inward remittances from $2,000 to $5,000 per transaction for freelancers and outsourcing companies. Bangladesh Bank issued a notice yesterday, allowing authorised dealers to bring in funds from overseas against outsourcing services

Bangladesh Association of Bankers puts pressure for scrapping limit on bank directors’ tenure Owners of private banks have put pressure on the government for amendment to the Bank Company Act 2013 within three years after it came into force in August 2013, officials said. They said Bangladesh Association of Banks

Money Market Parameters Current Period Earlier Period Change Average Call Money Rate 4.31% (Jul 03’19) 4.53% (Jun 26’19) 0.22% Call Money Lending (Crore BDT) 6,303.36 (Jul 03’19) 7,504.57 (Jun 26’19) 16.01% Prices Weighted Average Deposit Rate 5.46% (Jul 04’19) 5.46% (Jun 27’19) 0.00% Weighted Average Lending Rate 9.51% (Jul 04’19)

Submarine Cable Company’s Profit jumps eightfold Bangladesh Submarine Cable Company Ltd’s [BSCCL] net profit climbed eight times last fiscal year, on the back of a boost in bandwidth usage through a second undersea cable. The state-run cable company’s net profit rose to Tk 58.58 crore in 2018-19 from Tk 7.33