Summary: Shipbuilders in Bangladesh have been given an extra month to reschedule their defaulted loans. The Bangladesh Bank has extended the deadline to apply for rescheduling until December 31. To be eligible for the scheme, shipbuilders will need to make a down payment of 2.5 percent. Content: The central bank recently gave a group of borrowers in the shipbuilding industry more time... Read More
Summary: Banks in the country wrote off over Tk 7,319 crore in bad loans during the financial year 2022-23 to reduce their defaulted loans and improve the state of their balance sheets. However, the recovery process for such loans was not good, which resulted in an increase in the total amount of bad loans. Content: As per the latest data released by... Read More
Summary: In the first half of this year, banks wrote off loans three times more than the same period in the previous year. This indicates that banks are facing a growing number of defaults and financial challenges from borrowers, which could have serious implications for the overall stability of the banking industry. Content: Defaulted loans are on the rise due to a... Read More
Summary: The Multilateral Investment Guarantee Agency (MIGA) is considering providing guarantees for short-term trade finance facilities to Bangladesh for essential imports. The guarantee amount could range from $500 million to $1 billion. This move comes after the government was not interested in MIGA's previous offer of a $1 billion guarantee at a 6% interest rate six months ago. Content: International commercial lenders... Read More
Summary: The Bangladesh Bank report warns that the financial sector's stability is at risk due to the increasing number of non-performing loans. On October 5, the quarterly report for April-June 2023 was published by the central bank, in which it made the observation. Content: The report reveals that the gross NPL ratio to total loans increased from 8.8% in March 2023 to... Read More
Summary: In the first half of this year, banks wrote off loans three times more than the same period in the previous year. This indicates that banks are facing a growing number of defaults and financial challenges from borrowers, which could have serious implications for the overall stability of the banking industry. Content: Defaulted loans are on the rise due to a... Read More
Summary According to the authority, The Central Bank of Bangladesh is willing to give a proposal by offering Exporters 210 days to repatriate proceeds from exported products. The initial purpose of this proposal is to make better competitiveness of Bangladeshi products in foreign markets, however, it’ll raise the foreign currency reserve. Content To lower the burden on the forex reserve, the... Read More
Summary The economic crisis moment is started with the Covid-19 Pandemic, during that time the economic strategy collapsed globally. After the concession made in the collection of bank loans was withdrawn due to Covid-19, loan defaults began to rise, and in the last nine months the rising amount of BDT 31, 122 crores, despite the abundance of available facilities. Content Given the... Read More
Summary The Bangladesh Bank has ordered to tighten observation to be additional cautious to prevent group action and alternative activities relating to cryptocurrencies together with bitcoin. Content The Bangladesh Bank has asked scheduled banks to not provide any support services concerning transactions of cryptocurrencies and to strengthen their observation capability to stop any such activities. The BB on weekday issued a circular during... Read More
SUMMARY Bangladesh`s central bank has made it clear how much cash money changers are allowed to keep. Money changers that deal in foreign cash currency in the domestic market may hold a maximum of Tk 50 lakh on hand. The country's reserves have been dropping, and banks have been experiencing a shortage of liquid dollars. CONTENT According to a directive provided in... Read More
