The government has been putting emphasis on the nation's transition to cashless transactions so much so that it aims to attain hundred per cent digital payments by 2041. Transactions through VISA and credit cards and mobile financial services, such as bkash and Nagad, and online banking have accel
India has cut Bangladesh’s foreign aid allocations by 40 per cent in its newly announced national budget for the fiscal year (FY) 2024-25 as it has trimmed down its overall allocations, Indian newspapers reported on Wednesday. Bangladesh will receive maximum INR 1.20 billion in the next fisc
Banks and non-bank financial institutions opened on Wednesday after the government relaxed a curfew imposed to quell violent protests that have left at least 150 people dead since last Tuesday. Bank branches witness a huge crowd on the first day of operations. Bank officials said that withdr
Online freelancers working from the country fear that the prolonged internet shutdown would have a far-reaching impact as they would lose their regular clients and a negative image of the country would be projected abroad. Even after the internet service is restored in the country, local freelance
Development works suffered setbacks, as did economic activity, for the ongoing stalemate stemming from countrywide job-quota protests and curfew-induced lockdown, insiders said Tuesday. Movement of construction and other types of materials, local and foreign consultants, project implementers, rele
Bangladesh's blocked commercial lifeline begins clearing with manual import release but digitally-handled export yet remains blocked to the dismay of exporters and buyers both. Customs authorities Tuesday restored some of its networks to release some key commodities and raw materials while the shi
Economists and business leaders are calling for a sustainable and peaceful environment in Bangladesh to help navigate the ongoing economic crisis. Experts have highlighted that the country loses nearly Tk 65 billion per day due to hartals and blockades. They also point to a combination of fa
Access of people and businesses to funds squeezes as Bangladesh's "financial deepening" is on the decline with its domino effect on the economy, says economist Dr. Ahsan H Mansur. In such a tight situation, people are not having wider choice of financial services, he says about fallout from the co
Nahida Khanam, a lawyer, has been able to accumulate a significant sum of capital through prudent financial management. Initially, she considered investing in savings certificates, but following advice from an acquaintance, she learned that investing in Treasury bonds is now a more profitable optio
Japan is reviewing the Country Assistance Plan for Bangladesh, taking into account the nation's upcoming graduation from Least Developed Country status and its Ninth Five-Year Plan, Japanese Ambassador to Bangladesh Iwama Kiminori said. "We are considering Bangladesh's needs against its developmen
The central bank has decided to publish the monetary policy on its website, breaking the long-standing practice of announcing it through a press conference. The monetary policy for the first half of the current financial year (FY25) will be published on the Bangladesh Bank's website on July 18. C
A nationwide gas shortage is causing frequent power cuts as around three dozen gas-fired power plants are currently out of operation for a lack of input. Power outages are worst in rural areas, while urban areas are experiencing increased load shedding. Officials say the situation is unlikely to
The central bank is likely to announce the monetary policy statement (MPS) for the first half of fiscal year 2024-25 on July 18, local news portals said citing sources at Bangladesh Bank. The reports said the committee on formulation of the monetary policy is expected to hold the final meeting on
