NBFI profitability at risk as cost of funds continues to rise

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.

Trade through Bangladesh's 10 Shariah-compliant banks is dwindling, with loans surpassing deposits, creating liquidity challenges. Exports facilitated by these banks dropped by almost 39% in Q2, contrasting the nation's overall export growth of 7%.

Southeast Bank PLC recently signed a Master Trade Loan agreement with Commercial Bank of Dubai PSC at its Head Office. The collaboration involves the Commercial Bank of Dubai providing trade loans to Southeast Bank for its Offshore Banking Operation

Standard Chartered Bangladesh has joined forces with Thengamara Mohila Sabuj Sangha (TMSS) to enhance the well-being, resilience, and productivity of rural farming communities in Bangladesh. With an investment of approximately BDT 26 million, the bank is launching two agricultural initiatives benefiting 25,500 farmers.

Meghna Bank PLC recently entered an MoU with Ship International Hospital at its Dhaka Head Office. The multi-specialized private hospital, operating under Japanese management, will offer exclusive year-round discounts on registrations to all Meghna Bank cardholders and employees.

Modhumoti Bank Limited presented a Tk. 120 million cheque to the Bangladesh Red Crescent Society, Dhaka city unit during its 51st Annual General Meeting. The contribution, part of the bank's CSR program, was handed over at the Holy Family Red Crescent Medical College Auditorium, Dhaka.