Banks to remain open on April 30

The Bangladesh Bank today asked banks to keep their doors open and run operations on a limited scale on April 30, a public holiday, in order to settle the increased number of financial transactions ahead of Eid-ul-Fitr.
In 2022, the number of banking transactions have increased substantially year-on-year, which has also fuelled cash withdrawals and deposits with banks, according to a BB

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Al-Arafah, Mastercard bring contactless cards

Al-Arafah Islami Bank, in collaboration with Mastercard, yesterday launched the first contactless Islami debit and prepaid cards in Bangladesh.
The move came after Bangladesh Bank last month gave the green light to roll out contactless debit and prepaid cards with a view to pushing

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Agent banking transactions top Tk 50,000cr

The amount of money transacted through agent banking exceeded the Tk 50,000-crore mark for the first time in January 2022 as the service has managed to expand its reach in the country’s rural areas.
The Bangladesh Bank gave agent banking licence in 2014 with a view to bringing the unbanked people under the formal banking channel by taking the services to the remote locations of

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Soft Tech Innovation gets BB’s PSO licence

The Bangladesh Bank on Tuesday gave licence to Soft Tech Innovation Ltd to operate as a payment system operator under its brand name of aamarPay, taking the country’s total PSO licensees to seven.
The central bank’s payment systems department issued a circular on Tuesday, saying that the licence was issued under the Bangladesh Payment and Settlement Systems Regulations-2014

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Nagad Ltd barred from opening trust-cum settlement account without approval

The Bangladesh Bank has asked banks not to open any trust-cum settlement account (TCSAs) under the name of Nagad Ltd. The central bank issued a letter to banks on September 2 asking them not to open such accounts in the name of Nagad Ltd without its prior approval and the Bangladesh Post Office (BPO). Nagad is the brand name of the BPO’s mobile financial service

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No advance payments in e-commerce: BB

Bangladesh Bank yesterday said e-commerce platforms would not be able to receive payments in advance for any products or services rendered.
Some e-shops instruct shoppers to deposit money directly into their respective bank accounts before delivering a product or service, breaching Bangladesh Bank regulations

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Mobile banking to get a further boost

Mobile banking will get a further boost as the central bank proposes to channel all financial payments through mobile phones under stronger tie-ups between banks, cell phone operators and other service providers. The draft Regulatory Guidelines for Mobile Financial Services in Bangladesh, published on Monday, will turn every mobile phone into a digital wallet and

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Transactions cross Tk 420cr

The value of the total number of daily transactions through mobile financial services (MFS) has crossed Tk 420 crore in May for the first time since the launch of the service in 2011. “After negative growth in April this good news. MFS is gaining popularity as people can send and receive money when they need it,” said Bangladesh Bank Executive Director Mahfuzur Rahman.

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Remittance hits 11-month low in May

The country’s remittance inflow hit an 11-month low of $1.07 billion in May due to continued declining trend of the US dollar against the local currency Taka, said officials of Bangladesh Bank.
They said that political unrest was another cause of the lower inflow of remittance last month as such type of situation usually created an unfriendly business situation.

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Farm loan release target up 3.29pc

Bangladesh Bank has increased the farm loan disbursement target by 3.29 per cent to Tk 14,595 crore for local and foreign banks for the fiscal year 2013-14, said officials of the central bank.
The BB had set annual farm loan disbursement target at Tk 14,130 crore for the FY 2012-13, Tk 13,800 crore for the FY 2011-12 and Tk 12,617.40 crore for the FY 2010-11.

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Govt borrowing from commercial banks on rise

The government borrowing from the commercial banks increased to Tk 20,453.30 crore in the first 10 months and 26 days of the current fiscal year as the government started borrowing heavily at the last stage of its tenure to meet up its budgetary allocation, said officials of Bangladesh Bank.
According to the latest BB data released on Thursday,

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BB uses software to detect people linked to terror financing

The Bangladesh Bank (BB), by using goAML software, has identified some people involved in terror financing and money laundering. Sources in the home ministry said that the BB had used goAML to analyse the Cash Transaction Reports (CTRs) and Suspicious Transaction
Reports (STRs) of seven private commercial banks.

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