Under the currency swap agreements introduced last month, the banking regulator took $1.17 billion from commercial banks and injected around Tk 20,000 crore in the form of local currencies into the banking system, according to several central bankers.
After Padma Bank, ICB Islamic Bank appears to be the next in line to be absorbed by a stronger bank under the central bank’s roadmap to clean up the banking sector and bring in corporate governance.
Bangladesh’s external debt has crossed the $100 billion mark for the first time, indicating a challenging future amid foreign exchange shortage.
Deposits at non-bank financial institutions (NBFIs) have slightly increased on an interest rate hike but the number of deposit accounts have dropped sharply, indicating a lack of trust.
The planned merger of Shariah-based Exim Bank and struggling Padma Bank is likely to take between 18 months to two-and-a-half years to complete, according to central bank officials.
Liquidity in the foreign exchange market is increasing due to a rise in the inflow of US dollars, riding on growing remittance, export earnings and currency swap deals.
Liquidity in the foreign exchange market is increasing due to a rise in the inflow of US dollars, riding on growing remittance, export earnings and currency swap deals
The news that Shariah-based Exim Bank is going to merge with troubled commercial lender Padma Bank has taken the financial sector of Bangladesh by surprise.
Under the currency swap agreements introduced last month, the banking regulator took $1.17 billion from commercial banks and injected around Tk 20,000 crore in the form of local currencies into the banking system, according to several central bankers.
After Padma Bank, ICB Islamic Bank appears to be the next in line to be absorbed by a stronger bank under the central bank’s roadmap to clean up the banking sector and bring in corporate governance.
Bangladesh’s external debt has crossed the $100 billion mark for the first time, indicating a challenging future amid foreign exchange shortage.
Deposits at non-bank financial institutions (NBFIs) have slightly increased on an interest rate hike but the number of deposit accounts have dropped sharply, indicating a lack of trust.
The planned merger of Shariah-based Exim Bank and struggling Padma Bank is likely to take between 18 months to two-and-a-half years to complete, according to central bank officials.
Liquidity in the foreign exchange market is increasing due to a rise in the inflow of US dollars, riding on growing remittance, export earnings and currency swap deals.
Liquidity in the foreign exchange market is increasing due to a rise in the inflow of US dollars, riding on growing remittance, export earnings and currency swap deals
The news that Shariah-based Exim Bank is going to merge with troubled commercial lender Padma Bank has taken the financial sector of Bangladesh by surprise.
Struggling Padma Bank is set to be taken over by Shariah-based Exim Bank as part of the Bangladesh Bank plan to rein in the runaway defaulted loans to a reasonable level and bring good governance to the banking sector.
Padma Bank, which has been struggling with the burden of toxic loans for years, will merge with EXIM Bank. It will be the first bank merger in Bangladesh
