Internet banking sees 5% growth in Nov as card, MFS transactions drop
Transactions through Internet banking increased 5% in November 2023 compared to the previous month. While internet banking witnessed a boom, mobile banking, credit cards, and debit cards experienced a slight decline. Bangladesh Bank data showed that in November last year, the transactions through Internet banking were Tk82,866 crore, which is a 5.07% rise compared to the previous month. However, Internet banking registered a 200% year-on-year growth in November. In November 2022, the transaction was Tk27,426 crore. Mobile financial services (MFS) transactions dropped by 1% to Tk119,600 crore, and card transactions (including ATM, POS, CRM, and e-commerce) saw a similar 1% dip to Tk42,638 crore from the previous month. In November 2023, foreign currency transactions through banks’ cards were Tk798 crore, a decrease of about Tk14 crore compared to the previous month. However, in November 2022, foreign currency transactions through the card were Tk572 crore.
Dollar bond rates hiked 2% to attract investment
For investments up to $100,000 in three different terms, the finance minister has increased the interest rates for the US Dollar Premium Bond and US Dollar Investment Bond by up to 2% and 1.5%, respectively. Banking sector insiders and economists say the initiative aims to boost the inflow of dollars into the country by attracting investments from the Bangladeshi diaspora and foreign citizens of Bangladeshi origin. According to a notification issued on Sunday by the Internal Resources Division under the finance ministry, for the premium bond, the rates have risen to 6.50% for the 1-year term, 7% for the two-year term, and 7.50% for the three-year term. For the investment bond, the rate for the 1-year term has been increased to 5.50%, followed by a 6% rate for the two-year term and a 6.50% rate for the three-year term.
Maize cultivation increases in Jamalpur
Maize cultivation has been increasing gradually in the district due to its excellent economic return in recent years. Farmers have brought extensive land under the maize cultivation here this year which also exceeded the cultivation target. Department of Agricultural Extension (DAE) office sources said farmers have cultivated maize on 20,268 hectares of land this year which is 2,268 hectares more than the last year’s cultivation target. As a result, farmers are expecting 2,17,070 tonnes maize this year. Deputy Director of the DAE Zakia Sultana said we are encouraging farmers to cultivate maize through various incentive programmes implemented by the government.