Proposal on postal bank awaits PM’s nod The Posts and Telecommunications Division has sought approval from the prime minister to open a postal bank in order to take basic banking services to the remote areas of the country. If the government goes ahead with the proposal already sent to the
Read MoreBancassurance now under discussion in financial sector A latest mechanism of bank-insurance partnership is now in the formative stage to facilitate the sale of insurance products through the banking channel. The proponents of partnership think it may change Bangladesh’s insurance landscape “dramatically”. Sources close to the process say the move
Read MoreBangladesh Bank (BB) to phase out magnetic strip-based bank cards Bangladesh Bank has taken initiative to phase out the use of magnetic strip in the credit and debit cards of scheduled banks to secure clients’ card-based transactions through ATMs and POS terminals from data skimmers under its National Chip Specification
Read MoreMobile wallet users suffer as BB lowers transaction limits On Friday morning, Mozammel Hossain, a contractor, came to a mobile financial service (MFS) agent at Tejturi Bazar to deposit Tk 47,000 into two accounts of his site managers, who would then use the sum to pay the labourers their daily
Read MoreHuge defaulted loans in state-owned commercial banks to hit GDP growth Bangladesh Bank governor Fazle Kabir on Tuesday said excessive defaulted loans in the state-owned commercial banks would put an obstacle in achieving expected GDP growth in the coming years. The government will set a target of 8% GDP growth
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