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In the wake of soaring inflation, the central bank of Bangladesh has instructed all the commercial banks in the country to relax the opening margin rate for the settlement of Letters of Credit (LC) against eight food items. Bangladesh Bank said on Sunday in a circular that the instruction is aimed at keeping the prices of the food items within reach of consumers during the upcoming Islamic holy month of Ramadan, Xinhua news agency reported. The items are edible oil, sugar, chickpeas, pu...
Bangladesh asks banks to relax LC margin rate for essential food items
Bangladesh Bank (BB) has worked out a 50 billion taka ($500 million) refinance scheme to ensure food security in the country as the banking regulator anticipates a possible global food crisis in the near future A BB circular issued on Thursday said the prices of several food items have gone up in the global market, which is why the central bank has created the fund for farmers to get low-cost loans, reports Xinhua news agency. Under the scheme, farmers will be able to take loans at an i...
Bangladesh central bank creates $500mn refinance scheme for food security
The central bank of Bangladesh on Sunday withdrew the interest rate ceiling on non-resident foreign currency deposits (NFCDs) in an apparent bid to boost shrinking forex reserves.The Foreign Exchange Policy Department (FEPD) of Bangladesh Bank (BB) issued a circular on Sunday, saying that the instruction shall come into force with immediate effect in its letter to the authorized dealers (ADs) in Bangladesh.BB earlier asked banks to set the interest rate in line with the euro currency deposit ...
Bangladesh withdraws interest rate ceiling for NFCD accounts to boost forex
The Bangladeshi government has appointed Abdur Rouf Talukder as the country's new central bank Governor. Talukder, who is currently serving as the senior Secretary at the Finance Division of the Finance Ministry, will become the new Governor of the Bangladesh Bank for the next four years replacing Fazle Kabir. The Financial Institutions Division under the Finance Ministry issued a notification announcing his appointment, Xinhua news agency reported. According to the statement, Ta...
Bangladesh appoints new central bank governor
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