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

Banks unwilling to reward good borrowers Only one bank out of the 57 operating here has so far offered incentives to its good borrowers in compliance with a Bangladesh Bank order. The order issued in March last year asked all scheduled banks to give its good borrowers 10 percent rebate

Government bank borrowing turns negative in Q1 The government’s net borrowing from the banking sector turned negative in the first quarter of this financial year because of a surge in the net investment by clients in the national savings certificates and bonds. According to the latest Bangladesh Bank data, the

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

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