The interim government on Wednesday approved two hard-term credits worth US$260 million to invest in power transmission, road and terminal development, officials said. The Standing Committee on Non-Concessional Loans (SCNCL) of the government approved the loans at its meeting at the Economic Relat
Global rating agency Moody’s has revised its ratings for six Bangladeshi banks, citing concerns over the country’s recent sovereign downgrade. The banks affected are BRAC Bank, City Bank, Dutch-Bangla Bank, Eastern Bank, Mercantile Bank and Premier Bank, reports UNB. Moody’s has
Bangladesh’s banking sector is grappling with bad loans and significant losses, despite once being a consistently profitable industry. The latest quarterly financial reports reveal that nine banks collectively lost Tk 16.63 billion (Tk 1,663.38 crore) in the first quarter of the fiscal year
Bangladesh loses US$355 million in taxes annually as multinational corporations and individual tycoons are parking funds in tax havens to underpay tax, reveals a report on capital flight. The report, launched Tuesday by Tax Justice Network, says tax loss has declined in recent findings from a heig
A three-year pause on Bangladesh Bank bills is over as the regulator is set to restart the liquidity-sterilization card to offset the injection of high-powered money into the banking system. As part of the liquidity-mopping-up plan, aimed at inflation control, the banking regulator will hold aucti
