Rabiul Islam, a practising Muslim who works at a private organisation, refrained from conventional banking services for many years as both paying and receiving interest are against his religious principles.
The internet blackout for five days has affected remittance collection through banks and mobile financial services (MFS), which may put pressure on the country’s foreign exchange reserves.
Some banks have decided not to impose any interest or fees on clients for delayed payment of loan instalments, including that against credit cards, amidst a nationwide curfew and internet blackout.
Bangladesh Bank is going to unveil the monetary policy for the first half of fiscal year 2024-25 tomorrow and is expected to retain its tight monetary stance as its foremost target is to bring down the spiralling inflation.
All over the world, strict actions are taken against loan defaulters, with many countries imposing travel bans and seeking legal recourse. In Bangladesh, however, defaulters get mega-discounts.
The central bank has signalled that it would go for more tightening of the monetary policy since inflationary pressure shows no signs of cooling.
Defaulted loans at non-bank financial institutions (NBFIs) soared 38 percent to a record Tk 23,208.7 crore at the end of 2023, raising concerns over the sector’s deteriorating health.
Four state-run banks in Bangladesh are finding it difficult to recoup loans from their top 20 defaulters, a failure that has worsened their financial health and squeezed their capacity further to lend.
Rabiul Islam, a practising Muslim who works at a private organisation, refrained from conventional banking services for many years as both paying and receiving interest are against his religious principles.
The internet blackout for five days has affected remittance collection through banks and mobile financial services (MFS), which may put pressure on the country’s foreign exchange reserves.
Some banks have decided not to impose any interest or fees on clients for delayed payment of loan instalments, including that against credit cards, amidst a nationwide curfew and internet blackout.
Bangladesh Bank is going to unveil the monetary policy for the first half of fiscal year 2024-25 tomorrow and is expected to retain its tight monetary stance as its foremost target is to bring down the spiralling inflation.
All over the world, strict actions are taken against loan defaulters, with many countries imposing travel bans and seeking legal recourse. In Bangladesh, however, defaulters get mega-discounts.
Defaulted loans at non-bank financial institutions (NBFIs) soared 38 percent to a record Tk 23,208.7 crore at the end of 2023, raising concerns over the sector’s deteriorating health.
The central bank has signalled that it would go for more tightening of the monetary policy since inflationary pressure shows no signs of cooling.
Four state-run banks in Bangladesh are finding it difficult to recoup loans from their top 20 defaulters, a failure that has worsened their financial health and squeezed their capacity further to lend.
A longstanding political issue has now evolved from a financial concern to a structural problem in Bangladesh, according to noted economist Prof Rehman Sobhan.
The financial account has turned positive after more than a year, yet it might not be good news for Bangladesh since it is the result of the revision of national data in line with IMF prescription and does not indicate improvement in the health of the economy.
