BRAC Bank’s Astha App Reaches 700K Subscribers

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.

Pubali Bank PLC received the Best Financial Institution 2023 award at the 22nd DHL-The Daily Star Bangladesh Business Awards, recognizing its contributions to the nation's economic sector. Mohammad Ali, managing director and CEO, accepted the award from Salehuddin Ahmed at a ceremony in Dhaka.

Most banks in Bangladesh have excess liquidity, while struggling banks are seeking support from the central bank due to insufficient collateral. This has led to a significant decline in interbank borrowing, which fell to 16,358 crore BDT in early October, down from 23,442 crore BDT in September. Experts indicate that poor investment conditions are reducing cash demand from businesses.

Abul Hashem and Md. Nasiruzzaman have been reappointed as chairmen of BASIC Bank and Bangladesh Krishi Bank after completing their initial three-year terms. Meanwhile, the government appointed Md. Mokhles Ur Rahman as the new chairman of Jiban Bima Corporation, replacing former chairman Md. Asadul Islam.