TT-Clean: 77.1 | TK BC-Selling: 78.1
TK OD-Sight: 76.88 TK | TC-Selling: 78.1 TK
TT-Clean: 77.1 | TK BC-Selling: 78.1
TK OD-Sight: 76.88 TK | TC-Selling: 78.1 TK
TT-Clean: 77.1 | TK BC-Selling: 78.1
TK OD-Sight: 76.88 TK | TC-Selling: 78.1 TK
Rate last updated: 02/01/2014 11:15:04 AM
Banking industry is finally open for competitive operations with the interest-rate cap on deposits lifted, in a development that comes amid liquidity crunch and certain market distortions. Bangladesh Bank (BB) Tuesday withdrew the interest-rate cap to unshackle bankers for collecting deposits of three months and above, thus making the interest regime market-based. The central bank now did it as the interest rate on lending has already been made market-based. The BB announced this decision through a circular issued by the Banking Regulations and Policy Department (BRPD). However, the deposits in fixed accounts surged to some extent in the last quarter. It increased 4.33 per cent at the end of the quarter to September. The proportion of fixed deposits to total deposits is over 44 as of September 2023. But there is liquidity pressure on the banking industry, especially in the Sharih-based banks as they experienced certain unwarranted happenings. However, the BB in a circular issued on August 8, 2021 had said that the interest-rate limit on deposit collection was fixed.
Source: https://today.thefinancialexpress.com.bd/first-page/deposit-rate-cap-lifted-1702401927
The International Monetary Fund (IMF) has approved the release of $689 million in the second tranche of the $4.7 billion loan package allocated for Bangladesh. Finance Minister AHM Mustafa Kamal late last night confirmed that the approval came at the multilateral lender’s board meeting, according to Gazi Touhidul Islam, information officer of the finance ministry. Officials of the Bangladesh Bank and finance ministry expect the second instalment to be available on Wednesday. The Executive Board of the International Monetary Fund (IMF) completed the first review under the Extended Credit Facility (ECF), Extended Fund Facility (EFF) and Bangladesh’s Resilience and Sustainability Facility (RSF) arrangements for Bangladesh, allowing the authorities to withdraw the equivalent to about $468.3 million under the ECF/EFF, and about $221.5 million under the RSF.
Source: https://www.tbsnews.net/economy/imf-approves-682m-second-tranche-loan-bangladesh-756630
Quality Sportswear Mfrs Ltd, a Chinese company, will invest $11.55 million to set up a garments and accessories manufacturing factory at the Bepza Economic Zone at Mirsarai in Chattogram. With an annual production target of 6.05 million pieces of garments and 0.8 million pieces of money bags, travelling bags and other accessories, the factory will create employment opportunities for 3,310 Bangladeshi workers. Bepza has approved 26 enterprises, including this one, to establish industries in the economic zone in Mirsarai, producing a host of diversified products. The total proposed investment of these enterprises is $529.4 million.
Source: https://www.thedailystar.net/business/news/chinese-firm-invest-1155m-bepza-ez-3492776
| Index Name | Close Value | Value Change | Percentage Change |
|---|---|---|---|
| DJIA | $ 36,577.94 | ↑ 173.01 | ↑ 0.48 % |
| FTSE100 | $ 7,542.77 | ↓ 2.12 | ↓ 0.03 % |
| Nikkei 225 | $ 32,960.60 | ↑ 116.90 | ↑ 0.36 % |
| Commodity | Close Value | Value Change | Percentage Change |
|---|---|---|---|
| Crude Oil (WTI) | $ 68.34 | ↓ 0.27 | ↓ 0.39 % |
| Crude Oil (Brent) | $ 72.97 | ↓ 0.27 | ↓ 0.37 % |
| Gold Spot | $ 1,979.57 | ↑ 0.03 | ↑ 0.00 % |
| Exchange Rates | ||
|---|---|---|
| Currency | Lowest | Highest |
| USD 1 | BDT 110.2500 | BDT 110.2500 |
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