A power struggle at Nagad, Bangladesh’s second-largest mobile financial service provider, has thrown its operations into disarray after a court order suspended the central bank-appointed administrator, triggering competing claims of authority.
The central bank is likely to issue a circular in this regard today.
In what is seen as a landmark step toward restoring financial discipline, Bangladesh's interim government recently granted the central bank sweeping new powers to intervene in the troubled banking sector.
Globe Pharmaceuticals Group of Companies is set to sell its edible oil unit, Globe Edible Oil Ltd, to adjust bank liabilities.
Premier Bank paid Tk 10 crore to HBM Iqbal, the former chairman of the bank, for office space in one of his buildings that the private commercial lender did not use or rent.
State-owned, Islamic Shariah-based, and specialised banks have seen deeper deterioration in their financial positions, whereas private commercial banks and foreign banks remain on firmer ground.
Remittance inflows in the first ten months of the current fiscal year have already exceeded the total receipts of FY 2023-24
Ahsan H Mansur stated that the country's Islamic banking sector would be completely restructured as most of the existing Islamic banks are currently in trouble.
A power struggle at Nagad, Bangladesh’s second-largest mobile financial service provider, has thrown its operations into disarray after a court order suspended the central bank-appointed administrator, triggering competing claims of authority.
The central bank is likely to issue a circular in this regard today.
In what is seen as a landmark step toward restoring financial discipline, Bangladesh's interim government recently granted the central bank sweeping new powers to intervene in the troubled banking sector.
Globe Pharmaceuticals Group of Companies is set to sell its edible oil unit, Globe Edible Oil Ltd, to adjust bank liabilities.
Premier Bank paid Tk 10 crore to HBM Iqbal, the former chairman of the bank, for office space in one of his buildings that the private commercial lender did not use or rent.
State-owned, Islamic Shariah-based, and specialised banks have seen deeper deterioration in their financial positions, whereas private commercial banks and foreign banks remain on firmer ground.
Remittance inflows in the first ten months of the current fiscal year have already exceeded the total receipts of FY 2023-24
Ahsan H Mansur stated that the country's Islamic banking sector would be completely restructured as most of the existing Islamic banks are currently in trouble.
With the central bank halting direct financing by printing new notes, the government also has no option but to turn to commercial banks to meet its fiscal needs.
Interest rates on government treasury bills rose again this month, reversing a brief downward trend and signalling a continued liquidity crunch in the banking sector.
