Finance News: Latest Financial News, Finance News today in Bangladesh

How big is the challenge of loan recovery from S Alam Group?

S Alam Group and its associates took out loans from Islami Bank ten times its equity whereas a single party or group should not be given more than 25 per cent of a bank's capital in loans. The Bangladesh Bank enforced the exposure limit in a directive issued in 2022...

Abdul Aziz becomes Standard Bank chairman

Prominent businessman & social worker Lion Mohammed Abdul Aziz has been elected as the chairman of Standard Bank.The board of directors of the bank unanimously elected Mr Aziz as the Chairman at the 396th Board Meeting of the bank held at the bank's head office in Dhaka on Wednesday.Mr Aziz,...

Petrobangla owes Chevron $260m in unpaid dues for gas purchase

State-run Petrobangla owes Chevron Bangladesh about $260 million in unpaid dues for purchasing gas from its Bibiyana and other gas fields, official sources said, reports UNB.The sources said this week that Petrobangla purchases about $50 million worth of natural gas from the US-based multinational company's Bangladesh subsidiary every month. The...

Two committees formed to inspect bourses

The Bangladesh Securities and Exchange Commission (BSEC) on Wednesday formed two separate committees to look into the affairs of the bourses.The four-member committees have been asked to submit a report to the commission within 20 working days.Preferring anonymity, a senior BSEC official said the inquiry committees would look into overall...

Sonali Bank chairman resigns, appointment of Grameen Bank chairman cancelled

The Ministry of Finance has accepted Sonali Bank Chairman Ziaul Hasan Siddiqui's resignation and cancelled the appointments of Grameen Bank Chairman AKM Saiful Majid and the Chairman of Palli Sanchay Bank Akram Al Hossain and Managing Director (MD) Sheikh Md. Jaminur Rahman, reports UNB.The Financial Institutions Division of the Ministry...

PREMIER BANK LAUNCHES 'PREMIER BANK QUICK ACCOUNT' SERVICE

'Premier Bank Quick Account' is the latest addition to Premier Bank's digital services, enabling users to instantly open a bank account with just a few clicks. Mohammad Abu Jafar, managing director (MD) and chief executive officer of the bank, officially launched the service recently at the company's head office at...

SOUTHEAST BANK ORGANISES FOUNDATION TRAINING FOR 'PROBATIONARY OFFICERS'

Southeast Bank recently organised a Foundation Training Course for its newly appointed 37 Probationary Officers. Managing Directo Mr Nuruddin Md. Sadeque Hossain of the bank concluded the training program with his valuable speech as closing remarks. Deputy Managing Director (DMD) Mr Md. Masum Uddin Khan, DMD Mr Abidur Rahman Chowdhury,...

BKB holds Business Review Meeting

Bangladesh Krishi Bank (BKB) organised a virtual business review meeting at Board room of the bank's head office on Monday. The Managing Director of the bank Md. Shawkat Ali Khan presided over the meeting. Deputy Managing Directors of the bank Chanu Gopal Ghosh, Khan Iqubal Hossain, and Salma Banu and...

PHOENIX INSURANCE DECLARES 12PC CASH DIVIDEND

The 38th Annual General Meeting of Phoenix Insurance Company Ltd. was held through a digital platform in the capital on Monday. The meeting was presided over by the Chairman of the Company Mohammed Shoeb. Vice Chairman Manzoorul Haque, Directors Mazharul Haque, Mohammed Haider Ali, Dr. Sharmin Sultana, Fabiana Aziz, Javed...

Takaful InsURANCE Risk Management Committee Meeting held

The 2nd meeting of the Risk Management Committee of Takaful Islami Insurance Limited was held in Dhaka city on Tuesday. The Chairman of Risk Management Committee Md Humayun Kabir Patwary presided over the meeting which was attended by committee members Tahmina Afroz, Md. Abul Hashem and Azizul Hossain. Chief Executive...

National Finance and InnStar sign MoU

National Finance Ltd (NFL) and InnStar Limited have recently signed an MoU whereby Home Loan customers of InnStar will now get preferential rate and service. Irteza Ahmed Khan, Managing Director, Emon Ahmed Khan, Vice President and Head of Business, Kopil Uddin Mahmud Chowdhury, Head of CRM, and Muktadir Hossain, Head...

Switzerland moves towards cashless future with instant payments

GENEVA, Aug 21 (AFP): Switzerland's new instant payment system will bolster the future of cashless payments in the country, the Swiss central bank said Wednesday after the scheme went live.The Swiss National Bank said around 60 financial institutions were now able to receive and process instant payments, covering more than...

India accuses Amazon of predatory pricing

NEW DELHI, Aug 21 (Reuters): India's commerce minister accused Amazon and other e-commerce companies of predatory pricing practices and said the sector's rapid rise should not disrupt millions of brick-and-mortar stores operating in the country.Amazon and Walmart's Flipkart have reshaped India's retail landscape in recent years, with both companies investing...

Euro currency emerges a winner from market turmoil

The euro is trading at its highest this year against the dollar, emerging as a clear winner from the recent ructions in global currency markets that have unsettled a strong dollar and halted a relentless slide in Japan's yen, reports Reuters.Having broken decisively above the symbolic $1.10 level , the...

Saudi Arabia raises $1.6bn in sukuk issuances during August

RIYADH, Aug 21 (Arab News): Saudi Arabia's National Debt Management Center has completed its riyal-denominated sukuk issuance for August at SR6.018 billion ($1.6 billion), representing an 87.22 percent rise compared to July. The figure was the third highest this year, next to SR8.82 billion issued in January and SR7.39 in...