Government’s wholesale approval pushes insurers into unhealthy race The country’s insurance sector is going through a tough time as wholesale approval to insurance companies by the Awami League-led government at the far end of its last term pushed the insurers into an unhealthy competition for survival, senior officials of insurance
Read MoreAtiur resigns as Bangladesh Bank governor Bangladesh Bank Governor Atiur Rahman stepped down Tuesday, at the head of a string of punitive actions, amid raging criticisms over stealing of more than USD 100.0 million from the country’s account with the US Fed. After his unceremonious exit from the central bank
Read MoreBangladesh Bank Governor faces heat Bangladesh Bank Governor Atiur Rahman yesterday faced criticism from government high-ups and a number of ruling party leaders for “incompetent handling” of the cyber theft. Finance Minister AMA Muhith was furious, and hinted that the top management of the BB may see changes as the
Read MoreBDT 41.5 billion losses from Bangladesh Bank forex reserve in FY15 Bangladesh Bank faced losses of BDT 41.5 billion in operating its foreign exchange reserve in last financial year as currencies of the countries where the central bank’s foreign exchange reserves were kept became weaker against the Bangladeshi currency taka.
Read MoreBanks continue to cut interest rates on dull business The scheduled banks cut rates of interest on lending further in January as the businesspeople continued to show reluctance in receiving loans from the banking sector due to sluggish business amid political uncertainty, said officials of Bangladesh Bank. According to the
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