UCEP Bangladesh and Standard Chartered Launch Entrepreneurship Initiative

The Bangladesh Bank is introducing special liquidity support for banks weakened by irregularities and corruption, following a change in their boards. These banks will receive liquidity assistance against guarantees from the central bank, with stronger banks providing the liquidity. Previously, the central bank printed money to sustain banks, but it has now moved away from this approach, focusing on liquidity support through finalized policies. The central bank plans to provide assistance this week, with support based on specific indicators.

In the January-March 2024 period, industrial term loan disbursements increased slightly to Tk 22,015 crore from Tk 20,907 crore a year earlier, driven largely by rising dollar rates, which have made imported goods and raw materials more expensive. The surge in the dollar rate to Tk 120 in July 2024, up from Tk 110 in December 2023 and Tk 99 a year prior, led many industries to seek additional financing and refinance existing dollar-denominated loans into local currency.

Dr. Md Ezazul Islam has been promoted to Executive Director (Grade I) at Bangladesh Bank (BB), advancing from his previous role as Executive Director (Grade II). In his new position, he continues to oversee the Monetary Policy Department, where he is responsible for formulating and implementing the central bank's monetary and exchange rate policies.

UCB Investment has been honored as the "Best Investment Bank in Bangladesh" by both the Euromoney Awards for Excellence 2024 and the Finance Asia Award 2024. This marks the second consecutive year the merchant bank has received these accolades. Sharif Zahir, Chairman of United Commercial Bank (UCB), praised the recognitions as a testament to client trust and a motivation for continued excellence.

AB Bank has donated Tk 2 crore to the Chief Adviser's 'Relief and Welfare Fund' to aid flood-affected people across various districts. This contribution comes from the bank's corporate social responsibility program, with additional support from the bank’s founder chairman, board members, shareholders, employees, and subsidiaries.

City Bank PLC is investigating its Tk 86 crore investment in Sea Pearl Beach Resort and Spa Ltd, a company that had defaulted on loans and bonds. The bank purchased shares at inflated prices during suspected market manipulation, leading to a 73% loss in investment value.