HC Orders 40% Space Transfer from Sheraton to Dhaka North

To address the ongoing dollar crisis, Bangladesh Bank has mandated that banks offer over 7% interest on resident foreign currency deposits (RFCD). The central bank's notification allows individuals to deposit up to $10,000 in RFCD, with banks providing a minimum of 1.5% interest in addition to the benchmark rate.

The Bangladesh Bank has instructed banks to provide details on defaulted loans of candidates contesting the upcoming national elections to the Election Commission. The national polls are scheduled for January 7, and the Financial Institutions Division of the Finance Ministry issued a circular on November 28, which the central bank forwarded to banks.

The 3rd Bangladesh Sustainability Excellence Awards, hosted by The Daily Star and CSR Window Bangladesh, recognized six companies and three young humanitarians for their outstanding sustainable and socially impactful initiatives.

Bangladesh Bank (BB) has removed the 4 percent interest rate spread limit, introducing a new lending rate formula in July. The move is part of the gradual liberalization of the interest rate regime, incorporating the six-month moving average rate of treasury bills (SMART). Under SMART, banks can impose a 3.75 percent margin.

Bangladesh Bank (BB) has revised its list of eligible accountancy firms authorized to audit banks and non-bank financial institutions. Previously consisting of 46 firms as per a circular in August, the updated list, released on November 23, now comprises 31 firms.

The Bangladesh Bank has issued a directive to increase the interest rate on bank loans due to a rise in policy rates. The previous maximum interest rate of 10.93% has now been raised to 11.18%. The central bank's directive, announced yesterday, allows interest rate adjustments only once every six months. The Smart or Six-Month Moving Average Rate, determined at the beginning of each month, was 7.43% in October.