Prime Bank Partners With IIDFC

Mohammad Zahid Hossain has been appointed as the chairman of Bangladesh Krishi Bank. Previously, he served as a principal economist for the South Asia Department at the Asian Development Bank (ADB), where he managed Bangladesh Country Programming and economic analysis.

Bank Asia PLC is offering home finance through its Islamic Banking services at a record-low 10.50% profit rate, with no compounding profit or pre-maturity fees. Salaried applicants need employment documents, while business owners must provide trade and financial records. Additional documents, like agreements with developers or construction approvals, are required based on the purpose.

Bangladesh Bank will reduce repo auctions to one day per week starting November 1 to enhance monetary policy implementation. The change follows a previous cut from daily to twice weekly, linked to a $4.7 billion IMF loan condition.

Banks in Bangladesh reduced their Corporate Social Responsibility (CSR) spending by 12.46% in the first half of 2024, totaling Tk309 crore, as per a Bangladesh Bank report. Significant cuts occurred in education, health, and environmental initiatives, with climate-related projects seeing a nearly 50% reduction.

Al-Arafah Islami Bank PLC has partnered with Star Tech Limited to offer exclusive discounts and zero percent EMI for up to 36 months on Star Tech products to the bank's La-Riba credit cardholders. Corporate customers will also receive occasional discount coupons. The agreement was signed by senior officials from both organizations at Star Tech's head office.

Eastern Bank PLC has partnered with JCX Developments to provide home loans for customers purchasing properties from the real estate company. The agreement was signed by M Khorshed Anowar, Deputy Managing Director of Eastern Bank, and M Muhit Hassan, Director of JCX Developments, at the bank's head office, with senior officials from both sides in attendance.