26Aug
17Nov
Regulator Raises Cyber-heist Alarm for Banks.
Summary Bangladesh Bank has issued a circular through which it tries to combat the recent increasing number of cyberattacks on the banking sector by requesting commercial lenders to implement a 17-point anti-heist measure. The central bank has overseen some illicit transactions on Facebook ad managers in...
17Nov
Central Bank Nod is Not Required for Bandwidth Import Payments.
Summary Banks in Bangladesh do not require any permission from Bangladesh Bank to process import payments for internet bandwidth and other related services from now on. The central bank already issued a circular that allows banks to make payments abroad without requiring its permission. However, banks...
22Jun
Startups to go public soon as BSEC modernizing IPO rules
Summary: Bangladeshi startups who were denied the chance to go public because their business strategy called for expansion before profitability will now be able to raise funds from the stock market according to modifications of the Public Issue Rules that the securities regulator is planning. However, even when...
01Jun
Central Bank wants to reduce 1% default loans through Negotiation
Summary: Rather than suing the defaulting consumers, the central bank has instructed banks to use Alternative Dispute Resolution (ADR) to collect defaulted loans. The Bangladesh Bank issued an order on May 12, 2024, requiring all banks to recover at least 1% of their defaulted loans through...
01Jun
Exim-Padma Bank merger to take at least 18 months
Summary: The planned merger of Padma Bank and Exim Bank is expected to take 18 months to 2.5 years, according to central bank authorities. The banks must submit a formal application to the Bangladesh Bank, supporting documentation, and a copy of the merger plan. The merger...
05Mar
BB states that weak banks are likely to experience mergers and acquisitions.
Summary: It has been 52 years since a bank in Bangladesh has closed and the assurance is that none will close soon. However, weaker banks that are facing problems may consider mergers and acquisitions (M&A) to strengthen their capital base, as per the Bangladesh Bank. The...
05Mar
Tightening of the Appointment & Dismissal rules of bank’s MDs
Summary The new regulations mandate banking managing directors or CEOs to have 20 years of experience, aged 45-65, with a three-year tenure, requiring Bangladesh Bank approval for appointments. To ensure governance and depositor protection, candidates are interviewed by central banks and then assessed by a committee....
05Mar
Bar on family members of independent directors from owning bank share
Summary: The Bangladesh Bank has mandated that independent directors in banks must be aged between 45 and 75 and cannot have family members holding shares in the bank. Any complaints proven against them will result in actions taken by the Bangladesh Bank under the Bank Company...
30Dec