BB drafts law bringing NBFI depositors, like bank, under insurance scheme Bangladesh Bank has framed a draft of ‘Deposit Protection Act 2017’ bringing non-bank financial institutions, like the banks, under the deposit insurance scheme to protect the interest of depositors. The proposed act will replace the existing ‘Bank Deposit Insurance

Bangladesh spends Tk 500cr on printing currency Bangladesh has to spend around Tk 500 crore to print new currency notes and coins a year, a figure that may puzzle many people including policymakers. The expenses include costs of printing materials, paper, ink, colour and security thread. The costs have been

Suspend suspicious agents: BB Bangladesh Bank (BB) has asked 17 banks providing mobile financial services to suspend agents who are suspected of being involved in dubious transactions. The Bangladesh Financial Intelligence Unit (BFIU), the central bank’s anti-money laundering wing, gave the order on September 26. A BB official told The

Bangladesh Bank puts cap on dollar rate for importers Bangladesh Bank yesterday put a cap on the US dollar at inter-bank exchange rate plus BDT 2.0, to control the recent volatile market, said bankers. The central bank informed the treasury officials of the commercial banks about the ceiling at a

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