Digital Nano Loan of bKash and City Bank Already Availed Tk 175 Crore

Anisur Rahman, Managing Director of Basic Bank, has had his contract extended for another year amidst discussions of merging the state-owned bank with City Bank. The extension was approved by the Financial Institutions Department of the Ministry of Finance.

Arun Kumar Chowdhury has been appointed as the Managing Director of Karmasangsthan Bank, effective April 9, as per the Financial Institutions Division, Ministry of Finance. Previously, he served as Deputy Managing Director at Bangladesh House Building Finance Corporation (BHBFC).

Bangladesh Bank has instructed banks not to increase installment amounts despite new interest rates. This directive aims to alleviate pressure on borrowers facing increased loan payments. If installments rise due to new rates, excess amounts are to be held separately interest-free.

The Bangladesh Bureau of Statistics (BBS) survey revealed that nearly 72% of individuals aged over 15 in Bangladesh did not have an account with a bank or non-bank financial institution (NBFI) in 2023, despite ongoing efforts for financial inclusion.

Shares of The City Bank fell during the early session at the Dhaka Stock Exchange (DSE) on April 9 following reports of a potential merger with Basic Bank, a troubled state-owned lender. The news, circulating in various media outlets on April 8, caused City Bank's shares to drop by 2.62%, settling at Tk22.30 by 10 am. Market insiders indicate investor dissatisfaction with the merger news, expressing skepticism

Bangladesh's stock market indices faced significant declines amid heavy selling pressure fueled by concerns over potential fallout from Iran's attack on Israel. The DSEX, the Dhaka Stock Exchange's benchmark index, fell 85 points (1.45%) to close at 5,778, marking the first trading session post-Eid holiday. Other indices, including the DSES and DS30, also experienced drops. While some market experts reassured investors that the situation did not warrant panic, terrified selling persisted throughout the trading day, disrupting recent positive