- February 20, 2018
According to the Bangladesh Bank data, the surplus money has been channeled through the private commercial banks and they are now running out of money for lending
The finance minister urged bank officials to scrutinize project proposal thoroughly
Experts and bankers have heavily criticized Bangladesh Bank, the central bank and apex regulatory body for the country’s monetary and financial system, and the government for bailing out the Farmers Bank Ltd.
University Grant Commission Professor of Economics Dr Muinul Islam has been slated to receive the second highest civilian award in Bangladesh, Ekushey Padak 2018, for his contributions to the country’s economy. In an exclusive interview with the Dhaka Tribune’s Shariful Islam, the Chittagong University professor and former director general of Bangladesh Institute of Bank Management discusses how political corruption is the main reason for the dire condition of the country’s banking sector.
‘Buying shares of Farmers Bank with the state fund will not be a wise decision. It is very risky investment’
‘Board members and high officials of the state owned organization are heavily opposing investing in troubled banks, as they think the banks might not be able to repay’
‘We will not allow them to continue to malign RCBC. Various reports, including their own, indicate an inside job,’ reads a statement issued by the Filipino bank on Thursday.
On February 4, 2016, unidentified hackers stole a total of $101 million from Bangladesh Bank’s account
In light of the attack, questions have been raised over whether the banking sector of Bangladesh can deal with another cyber assault in the future
One of the mysteries is what type of attack it was – a criminal heist or something state-sponsored and thus inherently more sinister?
‘I firmly believe that within a few years, Sonali Bank will be in a position to render some of the greatest services to the government
The central bank has summoned chief executives of 20 banks and they have been asked to reduce their NPL
Tk499.633 crore from the climate fund is being kept at three branches of Farmers Bank
Md Abdul Halim Chowdhury, managing director and CEO of the bank, inaugurated the booth as the chief guest
So far, Bangladesh has received around $15 million of the $81 million stolen from the central bank’s reserve account
As of December 2017, over 40 banks have hiked the interest rate on bank loans, and 30 of them are charging 10% or more
Sales executives of the bank’s different branches had attended the workshop
To stop the dissemination of black money before the elections, banks need to be very careful while distributing money, he said
‘The bank’s financial base gradually weakened because of various irregularities at the directorial board and management level,’ says the finance minister
Managing Director and CEO Mamun-Ur-Rashid, Additional Managing Director Md Tariqul Azam and Deputy Managing Director Md Motaleb Hossain were also present in the meeting.