All services provided by banks to their clients are set to come under the purview of Value Added Tax (VAT) from the next fiscal as the proposed budget has slapped the same on bank clients.Bank clients will have to pay 15 per cent VAT from 2012-13 fiscal to get any services from banks.

China’s banking authorities on Thursday denied media reports that it has relaxed restrictions on home lending and reiterated their prudent stance on property sector regulation. The People’s Bank of China (PBOC), or the central bank, said recent reports stating that it has allowed commercial banks...

FRANKFURT: Central banks from Tokyo to London checked their ammunition on Friday in preparation for any turmoil from Greece’s election, with the European Central Bank hinting at an interest rate cut and Britain set to open its coffers.

The national budget arguably is the most important instrument for the implementation of the sixth five-year plan. Two budgets (FY11 and FY12) have gone by and the third one (FY13) has just been presented to parliament and will likely be approved with minimal changes. These three budgets send impo...

Standard Chartered Bank Bangladesh has strengthened its footprint in Dhaka with the opening of a Financial Kiosk at Bashundhara residential area.

The board of the state-owned Sonali Bank Ltd (SBL) has finally approved the appointment of Pradip Kumar Dutta as Managing Director (MD) for the next two years term.

Despite several assurances from Bankers Association of Bangladesh (BAB) to enhance their exposure in the capital market, commercial banks’ investment in the market still remains as low as 2.25 percent of their total liabilities.

Finance minister AMA Muhith on Wednesday once again called country’s share market as a ‘wicked’ one, adding that the government would bring medicine to streamline it.

The Bangladesh Bank will adopt a “people-centric” growth and empowerment model to provide economically deprived people with financial services to ensure overall economic development, Governor Atiur Rahman said yesterday.

The World Bank has identified a number of reasons that dealt a blow to Bangladesh economy.The reasons include political turmoil and periodic strikes, widespread electricity shortages, near double-digit inflation, fiscal deficit and deteriorating external balances.