Unrest has gripped the banking sector at a time when several banks are burdened with huge default loans and are suffering from low asset quality.

The BB asks banks, if possible, to stop money feeding to the branches amid the weak security because of the absence of police on the streets since Sheikh Hasina resigned as prime minister and fled the country on August 5

Its lack of independence has had disastrous effects

IPDC topped the list for the third time

The government is going to amend the Bangladesh Bank Order, 1972 to align it with global best practices and give the central bank more autonomy so that it can initiate steps to help the economy deal with pressure.

The latest rating showed that BRAC Bank and City Bank have been part of the list since the BB launched the rating in 2020.

Bangladesh Bank yesterday unveiled the latest iteration of its exit policy that offers borrowers the option to close off their loan account within three years by paying only 10 percent as down payment and no interest.

The need for correct and regularly updated data cannot be overstated

The central bank has shared data of the net international reserves (NIR) of Bangladesh for the first time.

The Bangladesh Bank has issued new directives on the repayments of industrial term and home construction loans in line with the new market-based method of calculating the interest of bank loans.

The services have received lukewarm responses from the targeted customers because they were launched hastily and lack user-friendly features and campaigns were not run to make them popular. Besides, there is no incentive and banks are unwilling, industry insiders said.

These credit bureaus will work to determine credit standards by analysing borrower data before sharing it with banks, which will help financial institutions make informed decisions, said the central bank guidelines on the licencing, operating and regulating of credit bureaus.

Bangladesh Bank yesterday asked banks and non-bank financial institutions (NBFIs) to inform Credit Information Bureau (CIB) of wilful defaulters the moment they are identified.

Though the government allocates Tk 100 crore in the national budget every year for the development of women entrepreneurship, not a single penny of this money gets used as the entrepreneurs lack awareness on how to ensure optimum utilisation of the fund.

In its effort to arrest the fall in forex reserves and bring unrealised export proceeds into the country, the Bangladesh Bank today allowed bankers to offer the existing US dollar exchange rate to exporters.

Economic reforms should not end here, though

As tech startups in Bangladesh are deprived of bank loans, the financial sector should team up with venture capital firms to finance such companies, experts said yesterday.

Nearly half of the total remittances in December last year came to Bangladesh through Islamic banking channels, according to the Bangladesh Bank.

The central bank directive came during a meeting between BB Governor Abdur Rouf Talukder and the managing directors of five leading private commercial banks on Sunday.

Report on NRBC Bank shows how chaotic the banking sector has been