Excise duty on bank accounts to double next fiscal year The government is considering doubling the excise duty on bank accounts with large debit or credit balance in fiscal 2017-18 to boost revenue collection. Accounts with balance between BDT 0.1 million and BDT 1.0 million at any time of a

Private sector credit growth rises in February The private sector credit growth increased significantly in February from that of the previous month as import payments jumped in recent months due to a rise in payments for capital machinery, industrial raw materials and some other commodities, said Bangladesh Bank officials. According

Banks’ profits rise 32.0% on a slide in default loans The banking sector’s net profit increased 32.0% year-on-year to BDT 79.2 billion in 2015 on the back of a decline in default loans. In the last quarter of 2015, banks set aside a lower amount of funds for provisioning as

Shimanto Bank listed as scheduled bank Bangladesh Bank on Wednesday said that Shimanto Bank Ltd was registered in the list of scheduled banks from July 21 this year. The BB issued a circular to managing directors and chief executive officers of all banks informing that the issue of listing of

Bangladesh Bank wants account of all banks’ rescheduled loans The central bank, now under a recast management following a big cyber-heist, has sought information on both rescheduled and restructured loans from all the banks for a reappraisal. Official sources said the stocktaking of bailed-out loan portfolios is meant for assessing