Amendment to banking companies act placed in parliament The Banking Companies (Amendment) Act-2017, which allows the doubling of the number of directors in a bank’s board from a single family and extends the tenure of directors, was placed in the parliament yesterday. The proposed law has now been forwarded to

Money Market Parameters Current Period Earlier Period Change Average Call Money Rate 4.88% (Nov 21’19) 4.09% (Nov 17’19) 19.32 Call Money Lending (Crore BDT) 6,834.68 (Nov 21’19) 6,834.68 (Nov 17’19) 0.00% Prices Weighted Average Deposit Rate 5.60% (Aug ’19) 5.60% (Aug ’19) 0.00% Weighted Average Lending Rate 9.60% (Aug ’19)

Pvt sector credit sees steady growth The credit growth slightly improved to 16.6% in June, the same rate set in the latest monetary policy for December this year from 16.4% in previous month, according to the Bangladesh Bank data. The total loan to the private sector stood at Tk6,69,700 crore

BB’s refinancing fund for jute gets huge response The refinancing scheme of Bangladesh Bank for jute sector has drawn a huge response from borrowers as banks have already disbursed Tk 343.22 crore revolving loan since its launch in June 2014. BB launched the refinancing scheme with a fund of Tk

MFS accounts can’t have more than BDT 300,000 from 2018 Mobile financial services (MFS) customers can have at most BDT 300,000 in balance in their accounts from 2018 — a development that is set to come as a blow for the users of the platform. Previously, there was no limit