Feroz Appointed as New Chairman of Mercantile Bank Securities

Pubali Bank PLC has been recognized at the Mastercard Excellence Awards 2023 for its efforts in promoting financial inclusion and strengthening the digital economy. The bank won in two categories: "Excellence in Mastercard Debit Business (International) 2023-24" and "Excellence in Mastercard Business Growth (Acquiring) 2023-24."

Following the dissolution of its previous board on August 5, 2024, Social Islami Bank PLC, now led by an independent director and chairman, is undergoing significant reforms to address a liquidity crisis and restore stability. The Shariah-based lender has a total deposit of Tk 32,272.45 crore and investments of Tk 37,534.59 crore as of November 17, 2024

Global rating agency Moody’s has downgraded the long-term local and foreign currency deposit ratings of BRAC Bank, Mercantile Bank, and Premier Bank due to Bangladesh's recent sovereign downgrade to B2 on November 18, 2023. This marks the first downgrade in 14 years, reflecting heightened economic risks.

Bangladesh Bank (BB) has raised the foreign currency endorsement limit at money exchange houses for travelers to $2,000, doubling the previous cap of $1,000. The new policy, announced on November 19, 2024, aims to ease currency access for Bangladeshis traveling abroad. A senior BB official stated that travelers could now purchase up to $2,000 in cash from money changers, increasing convenience.

Md Jashim Uddin has been appointed as the Managing Director and CEO of Bangladesh Development Bank PLC, effective November 20, 2024. Before this role, he served as Deputy Managing Director at Janata Bank PLC, where he began his banking career in 1988 as a senior officer. Over the years, he held several key positions, including branch manager, zonal head, divisional office head, and general manager of various departments

The Bangladesh Securities and Exchange Commission (BSEC) has frozen 117 beneficiary owner (BO) accounts allegedly linked to Beximco Ltd’s owners following a request from the Bangladesh Financial Intelligence Unit (BFIU). On November 14, the BSEC instructed the Chittagong Stock Exchange to gather KYC forms and portfolio statements of these accounts within three days.