The financial health of First Security Islami Bank PLC has turned so dire that it is now paying staff salaries directly from depositors’ money, according to a Bangladesh Bank (BB) document.
Low development spending leads to a sharp decline in government borrowing
Between 13 July and August, the central bank bought $948 million from commercial banks through seven auctions
Nine non-bank financial institutions (NBFIs) out of a total of 35 are likely to be liquidated in the interest of depositors, making it the first such incident in the financial sector.
Banking sector's asset quality declines as distressed loans balloon to Tk 7.56 lakh crore
BB officials said the central bank decided to set up an office at Sena Kalyan Bhaban in Motijheel to oversee the process.
In August last year, when the current governor took charge of the central bank, basic banking services were in turmoil. In parts of Dhaka, ATMs were out of service, and some cash-strapped banks were unable to honour cheques for as little as Tk 5,000.
Down payments start at 1% with grace periods reaching 3 years
The financial health of First Security Islami Bank PLC has turned so dire that it is now paying staff salaries directly from depositors’ money, according to a Bangladesh Bank (BB) document.
Between 13 July and August, the central bank bought $948 million from commercial banks through seven auctions
Low development spending leads to a sharp decline in government borrowing
Nine non-bank financial institutions (NBFIs) out of a total of 35 are likely to be liquidated in the interest of depositors, making it the first such incident in the financial sector.
Banking sector's asset quality declines as distressed loans balloon to Tk 7.56 lakh crore
BB officials said the central bank decided to set up an office at Sena Kalyan Bhaban in Motijheel to oversee the process.
In August last year, when the current governor took charge of the central bank, basic banking services were in turmoil. In parts of Dhaka, ATMs were out of service, and some cash-strapped banks were unable to honour cheques for as little as Tk 5,000.
Down payments start at 1% with grace periods reaching 3 years
Central bank halts Binimoy services over alleged contract breach and irregularities
The country’s balance of payments returned to a surplus in the fiscal year (FY) 2024-25, ending a three-year spell of deficits.
