Bangladesh Bank Deputy Governors Face Resignation Demand

BRAC Bank's Astha app has rapidly grown to 700,000 users, reflecting its rising popularity in digital banking. In September 2024, the app set a record with over Tk 1,250 billion in monthly transactions and a total of Tk 9,200 billion for the year, up from Tk 7,100 billion in 2023. 

The Anti-Discrimination Officers Forum of Bangladesh Bank has demanded the resignation of Deputy Governors Nurun Nahar and Dr. Habibur Rahman, accusing them of corruption and malpractice. In a letter to Governor Dr. Ahsan H Mansur, the forum stated their continued presence undermines the bank's integrity.

Struggling banks in Bangladesh are receiving liquidity support from stronger banks, allowing them to repay depositors for urgent needs like medical expenses and salaries. Key banks, including First Security Islami Bank and Social Islami Bank, have secured Tk 2,425 crore in assistance backed by the Bangladesh Bank.

Karnaphuli Gas Distribution Company has withheld Tk3,000 crore from gas sales to Kafco over 13 years, defying orders to transfer the funds to its parent, Petrobangla. This accumulated amount comes from charging Kafco a higher gas rate than the state-owned fertiliser companies pay.

Apex Tannery Limited has proposed a 5% cash dividend for FY24 for general shareholders despite facing increased losses. The company’s net loss grew to Tk12.66 crore, up from Tk12.44 crore in FY23, with earnings per share (EPS) worsening to Tk8.31 negative.

Runner Automobiles has been downgraded to the 'Z' category by Dhaka and Chittagong stock exchanges for failing to pay cash dividends for FY22 on time. The company had recommended a 10% cash dividend for FY22 but did not declare any for FY23.