A group of specialist banks are profiting from Europe’s financial crisis, thanks to a surge in demand for securities which allow traders to bet against bank stocks and government bonds. The so-called custody banks that administer securities, a normally unglamorous and low-margin business, include...

New banks are necessary to curb monopoly in the sector. Such banks offer financial services at a low cost for the unbanked population and stimulate healthy competition throughout the region. Ekramul Haque, managing director (MD) of Al Arafah Islami Bank Ltd (AAIBL), said this in an exclusive int...

Brushing aside main opposition BNP’s claim that the country's economic condition has become vulnerable, Bangladesh Bank (BB) governor Dr Atiur Rahman on Tuesday said that the economy is still in a better position. "Some quarters have been spreading 'false' propaganda against the country's pr...

The World Bank (WB) has said the proposed amendments to Bank Company Act and Financial Institute Act lack a holistic approach, risk management provisions and structural arrangement to deal with the local and global financial issues. It has advised the Bangladesh Bank (BB) to redraft both the a...

US authorities are moving toward taking legal action against Wegelin & Co, which could lead to an indictment of one of Switzerland’s last pure private banks, on charges that it enabled wealthy Americans to evade taxes, according to two persons with knowledge of the case. Negotiations in the case ...

IFIC Bank Employees Contributory Welfare Fund recently provided cash rewards to meritorious children’s of the bank’s employees who obtained GPA-5 in the S.S.C and H.S.C examination and outstanding result in “O” and “A” level examination in 2011, says press release.

Bangladesh Bank's (BB) decision to withdraw lending cap would create a congenial atmosphere for healthy growth of the banking sector, a top banker has said. The central bank issued last week a circular to withdraw the interest rate ceiling on lending by banks, aiming at boosting flow of funds ...

Eastern Bank Limited (EBL) laid foundation stone for its corporate headquarters at Gulshan Avenue in the city. The bank's chairman Mohd. Noor Ali formally unveiled plaque of a state-of- the-art 14-storey building recently, says a press release.

AB Bank Limited and Grameenphone Limited signed a Memorandum of Understanding (MOU) on utility bill payment service. Under the MOU, AB Bank branches across the country will offer services to GrameenPhone Limited for payment of their electricity bills, said a press release.

Bangladesh Bank will release one lakh pieces of new commemorative notes on Tuesday, marking the 40 years of Bangladesh. Earlier, the central bank printed 50,000 commemorative notes and its governor Dr Atiur Rahman formally released those on December 26 on the occasion.