United News of Bangladesh

Bangladesh Bank Governor Dr Ahsan H Mansur on Sunday (November 16) said a substantial portion of the capital from the country’s five troubled Shariah-based banks has been siphoned off abroad, leaving no option but to merge them to safeguard the sector. He made the remarks while speaking at the opening session of the Bangladesh Islamic Finance Summit 2025, held at a city hotel. The three-day summit aims to position Bangladesh as a key Islamic finance hub in South Asia. “Much of the capital from the five Shariah-based banks has been taken out of the country. Unfortunately, even the most dynamic Islamic bank in the country was hollowed out,” the governor said. The five banks currently undergoing the merger process are EXIM Bank, First Security Islami Bank, Global Islami Bank, Union Bank, and Social Islami Bank. Read more: Compensation for small investors in merged banks under review: Central Bank Bangladesh Bank dissolved the boards of all five banks and appointed administrators on November 5, initiating the formation of a new entity named Sammilito Islami Bank (Combined Islamic Bank). Dr Mansur emphasised that transparency is essential to revitalising and strengthening the banking sector. He urged active participation from all stakeholders, including investors, depositors and employees, to ensure the success of the consolidation. If strong governance can be maintained during the merger process, the initiative will ultimately benefit the country’s economy, he added. City Bank Managing Director and CEO Mashrur Arefin attended the event as the special guest. Among others, M Kabir Hassan, professor of finance at the University of New Orleans and Dr Eskandar Shah Mohd Rashid, CEO of ISRA, also spoke at the opening ceremony. The summit brought together regulators, Shariah scholars, Islamic banking professionals, and high-level delegates from countries including Bahrain, Pakistan, Malaysia, and the United States. Discussions will focus on strengthening governance, expanding financial inclusion, and integrating AAOIFI’s global Shariah, governance and accounting standards into Bangladesh’s Islamic finance framework. Read more: BB orders strict loan data updates to bar defaulters from election race

Bangladesh Bank has ordered all scheduled banks to promptly update loan repayment data as prospective MP candidates, many of them business and political figures, scramble to clear defaults and overdue installments to remain eligible for the national polls. Managing directors of various banks, non-bank financial institutions (NBFIs), and Bangladesh Bank officials said they are receiving a surge in applications for loan regularisation. In response, the Credit Information Bureau (CIB) of Bangladesh Bank (BB) has issued a strict directive to all banks and financial institutions nationwide, ordering rapid updates of loan-related data to confirm the financial eligibility of potential candidates. Bangladesh Bank eases SME loan rules for refinance fund amid rising defaults Bangladesh Bank officials said on Saturday that even if a borrower secures a stay order from a court, financial institutions must report the accurate status of the loan to the CIB without any alteration. The central bank emphasised that there will be no scope to conceal information or offer ‘arbitrary’ concessions. A special meeting was held on October 29 with CIB representatives from all banks and NBFIs, where institutions were informed of the government’s firm instruction to complete loan data updates before the election to ensure no loan defaulter can contest. “The Bangladesh Bank has made it clear that the government will not allow any loan defaulter to become a candidate in the upcoming election,” said a CIB official. Arif Hossain Khan, Executive Director and spokesperson of Bangladesh Bank, said the central bank is updating customers’ loan statuses as per government instructions. He added that providing updated credit information to Bangladesh Bank is a routine responsibility of banks. Govt may compensate investors in 5-bank merger: Bangladesh Bank The central bank has also directed all institutions to strictly follow existing rules concerning borrowers attempting to reschedule long-overdue defaulted loans ahead of the election. No exceptions, special privileges, or rule violations will be permitted for rescheduling. All financial institutions, particularly those yet to submit their default data to the CIB, have been ordered to do so immediately. Updated reports detailing the full status of all new and ongoing loans, based on month-end outstanding balances, are mandatory. Banks have been specifically instructed to update the following information: Accounts of ongoing and settled loans, along with accurate balances and classification status, Maturity dates and overdue balances, Number and value of defaulted instalments, and details of installment payments or recoveries. To ensure round-the-clock verification of loan information for potential candidates, Bangladesh Bank has directed every bank branch to appoint a dedicated officer. Their names and mobile numbers must be submitted to the central bank. Bangladesh Bank directs MFS providers to halt online gambling transactions Electoral law clearly states that a candidate will be disqualified if their bank loan status is not classified as ‘regular’ up to seven days before the submission of nomination papers. Officials concerned believe this rigorous initiative by Bangladesh Bank will play a decisive role in preventing loan defaulters from securing nominations ahead of the election.

A personal loan is an unsecured form of credit that helps individuals meet personal needs like education, travel, or medical emergencies without needing any collateral. It is repaid through fixed monthly instalments over 1 to 5 years. In this article, we will explore the top 6 banks in Bangladesh offering personal loans and compare their features, eligibility, and benefits to guide you in choosing the best loan provider based on your needs. 6 Bangladeshi Banks to Consider for Personal Loans in 2025 Here we have reviewed the personal loan schemes of six selected banks in Bangladesh in 2025. The detailed information regarding the loans can be accessed from the official websites of respective banks.  Jamuna Bank When it comes to fulfilling personal needs—be it for marriage, travel, education, medical emergencies, or simply upgrading your lifestyle—Jamuna Bank’s Personal Loan stands out as a versatile and trustworthy solution.  Designed for a wide spectrum of borrowers, including salaried professionals, self-employed individuals, landlords, and businesspersons, this loan is available for any lawful purpose deemed acceptable by the bank. Applicants can secure financing from BDT 1 lakh up to BDT 20 lakh with repayment tenures extending up to 5 years. This provision offers flexibility to suit individual financial capacities.  Read more: How to Invest in Bonds: A Comprehensive Guide To be eligible, applicants must be aged between 21 and 60 and meet specific income thresholds starting from BDT 40,000 for salaried persons and going up to BDT 80,000 for businesspeople. Experience requirements vary by profession, ensuring responsible lending and borrower credibility.  Jamuna Bank requires standard documentation, including a national ID, proof of income, six months’ bank statements, and professional certifications. Loan repayment is easy and convenient through EMIs, which can be paid via bank transfer, cheques, MFS, or directly from a Jamuna Bank account. The bank also allows early settlements and partial payments, adding more flexibility for borrowers. With transparent terms, responsible lending, and a customer-friendly approach, Jamuna Bank remains a top-tier choice for personal loans in Bangladesh in 2025. Agrani Bank Agrani Bank PLC offers a highly dependable personal loan option tailored specifically for its salaried employees. This exclusive product is designed to help meet a variety of financial needs, such as home renovation, marriage, medical treatment, educational expenses, or lifestyle enhancements.  Read more: How to Buy Bangladesh Government Treasury Bond: Everything You Need to Know The bank offers loans up to BDT 20 lakh, with a maximum tenure of 5 years or until the end of the applicant’s service period, whichever comes first. The interest rate is fixed at 13.40%, providing predictable and manageable monthly payments.  Eligible applicants must be between 18 and 55 years of age and be full-time salaried individuals working within Agrani Bank PLC. This internal loan product is specially structured to maintain minimal risk while providing meaningful financial support to its staff. In terms of security, Agrani Bank requires both a personal guarantee and an additional guarantee from a solvent person, reinforcing the loan’s reliability and ensuring responsible borrowing. Brac Bank BRAC Bank’s Personal Loan is a flexible and accessible financial solution designed to fulfil a wide range of personal needs. This unsecured loan offers up to BDT 20 lakh without requiring any collateral or cash security, making it a truly customer-centric option for individuals across Bangladesh. The loan comes with a variable interest rate, aligned with Bangladesh Bank’s guidelines and BRAC Bank’s current lending policies. There is a processing fee of up to 0.50% of the loan amount, and other charges are applicable as per the bank's retail loan schedule of charges. One notable feature is the inclusion of an insurance shield, with the premium conveniently payable through the bank itself. Read more: How to Raise Angel Investment for Startups in Bangladesh Applicants aged 25 to 65 years are eligible, with a minimum income requirement of BDT 25,000 per month. Salaried individuals must have at least one year of confirmed employment, while businesspersons need a minimum of three years’ experience in the same business. The repayment period is quite flexible, ranging from 12 to 60 months, and borrowers even get extra time to pay their first EMI. For loans up to BDT 5 lakh, no guarantor is needed, making it even more convenient. BRAC Bank’s personal loan is a hassle-free option backed by quick processing, strong customer support (available 24/7 via 16221), and clear eligibility requirements. All these make it a reliable financial partner for all your life’s important moments.  Standard Chartered Bank Standard Chartered Bank’s Personal Loan is a versatile and convenient solution tailored to meet your various financial needs. With loan amounts ranging from BDT 50,000 to BDT 20 lakh and flexible repayment options of 12 to 60 months, this product ensures financial comfort with complete control. Salaried individuals aged 21 and above and self-employed/businessmen aged 25 and above are eligible, provided they meet the minimum monthly income requirement of BDT 26,000 to BDT 55,000, depending on their banking relationship. Applicants must also be Bangladeshi citizens with a valid NID and reside in cities like Dhaka, Narayanganj, or Chattogram, among other branch-covered areas. Read more: How to Build Social Capital to Grow Your Business One of the standout features of Standard Chartered’s personal loan is its seamless repayment method. Even if you do not have an account with the bank, your EMIs can be automatically collected from any other bank account via BEFTN, eliminating the need for post-dated cheques. The bank also offers employee banking privileges, including preferential treatment and top-up loan options for existing customers. Also, insurance coverage is available to protect your loved ones in unforeseen circumstances. Loan processing is swift, within 2 working days for payroll clients and up to 5 days for others, ensuring fast access to funds when you need it most. United Commercial Bank When life calls for a financial boost, United Commercial Bank (UCB) stands ready with its versatile and customer-friendly personal loan. This all-purpose loan offers up to BDT 20 lakh, catering to a wide range of legitimate personal financial needs, without requiring any collateral or cash security. One of UCB’s strongest features is its completely unsecured structure, which means hassle-free approvals and no need for a mortgage or guarantees. With a repayment tenure of up to 5 years, borrowers can comfortably manage EMIs based on their income flow.  Read more: Gold vs Diamond: Which Should You Choose for Investment? The bank also provides top-up and takeover facilities, allowing existing borrowers to access additional funds or switch from other institutions—ensuring maximum flexibility. Additionally, UCB extends this facility to Non-Resident Bangladeshis (NRBs) and offers global citizens a chance to finance needs back home. Eligibility criteria are designed to be inclusive. Salaried individuals and doctors with a monthly income of BDT 25,000 and self-employed professionals, businesspeople, or landlords earning at least BDT 50,000 can apply.  Applicants must be at least 21 years old. UCB takes pride in its transparent loan terms, with no hidden charges, a fast approval process, and attractive interest rates that make borrowing both affordable and stress-free. This makes UCB a smart, reliable choice for anyone seeking quick and flexible personal financing in 2025.  City Bank City Bank’s Personal Loan is designed to add joy and ease to your life by helping you manage your financial needs smartly. Offering a generous loan range from BDT 2 lakh to BDT 20 lakh, this loan is structured with flexible repayment tenures between 12 and 60 months, allowing borrowers to comfortably plan their EMIs over time. Read more: Silent Partner vs Investor in Business: Know the Difference, Pros and Cons City Bank stands out with its competitive interest rates, no hidden charges, and a unique Double Benefit Insurance Coverage. This insurance ensures that in the unfortunate event of death or permanent total disability, your outstanding loan is taken care of—providing your loved ones with peace of mind. Such value-added features make it more than just a loan—it is a complete financial solution.  Eligibility criteria are straightforward. Applicants must be between 22 and 60 years of age and meet specific experience and income thresholds depending on their profession. For instance, salaried individuals must earn BDT 40,000/month, professionals BDT 60,000, landlords BDT 50,000, and businesspeople BDT 100,000. Additionally, applicants must have at least 2–3 years of professional or business experience.  City Bank’s transparent process, coupled with quick approvals and an emphasis on customer satisfaction, makes it one of the most dependable choices for personal loans in Bangladesh. Whether you are planning a major life event or need a financial bridge for unforeseen needs, City Bank helps you reach new heights and celebrate life’s journey with confidence.  Read more: What to Consider Before Taking a Personal Loan from a Bangladeshi Bank Final Words Each of these top-tier banks offers unique strengths—from fast approvals to flexible tenures and insurance-backed security—making them ideal choices for personal loans in Bangladesh. Choose based on your income, profession, and specific needs for the best financial fit.

Keeping valuables at home carries risks like theft, fire, or misplacement. To ensure security, several banks in Bangladesh offer locker facilities, providing a safe place for important documents, jewellery, and other valuables. However, the bank locker charges and refundable security fees vary from bank to bank. Let’s take a look at the safety deposit box or locker services with associated charges in some renowned banks in Bangladesh in 2025. Bank Locker Services in 10 Popular Government-owned and Private Banks in Bangladesh Here the banks have been ranked alphabetically.  Agrani Bank PLC Agrani Bank provides Safe Deposit Locker services at many of its urban branches. In this state-owned commercial bank, customers can choose from Small, Medium, and Large lockers. The yearly charges are Tk 2,000 for Small, Tk 2,500 for Medium, and Tk 3,000 for Large lockers.  Locker Size Annual Charges (BDT) Small 2000 Medium 2500 Large 3000 A refundable key deposit of Tk 5,000 is required. The service is available to Savings and Current account holders. Customers can pay locker rent in advance and set up automatic deductions from their accounts. The bank ensures strong security measures for valuables stored in its lockers. Read more: Pensioner Sanchayapatra in Bangladesh: Revised profit rates in 2025 Al-Arafah Islami Bank PLC Al-Arafah Islami Bank has been providing Safe Deposit Locker services for years, with 23 branches currently offering this facility. Lockers are available in small, medium, and large sizes. The annual rent is Tk 2,000 for Small, Tk 2,500 for Medium, and Tk 3,500 for Large lockers.  Locker Size Annual Charges (BDT) Security Deposit (BDT) Small 2000 10000 Medium 2500 12000 Large 3500 15000 Customers must deposit a refundable security fee. The annual security deposits for the small, medium, and large-sized lockers are 10,000 Tk, 12,000 Tk, and 15000 Tk, respectively. Key replacement costs Tk 2,500 in Dhaka and other locations. Lockers provide high-security storage for valuables, including documents and jewellery. Read more: 5-Year Bangladesh Sanchayapatra 2025: Revised Profit Rates City Bank PLC City Bank’s Safe Deposit Locker service ensures high-security storage for customers’ valuables. Available at select branches across major cities, the service is ideal for safeguarding jewellery, documents, and other assets. Lockers are available in three sizes: small (Tk. 5,500), medium (Tk. 7,500), and large (Tk. 9,500). Locker Size Annual Charges (BDT) Small 5,500 Medium 7,500 Large 9,500 Read more: 3-Monthly Profit-Bearing Sanchayapatra in Bangladesh: Revised Profit Rates in 2025 Dhaka Bank PLC Dhaka Bank offers secure locker facilities across various branches, ensuring top-level protection for valuables. Lockers are available in Small, Medium, Large, and Extra Large sizes. The annual charges for small, medium, large, and extra-large lockers are Tk 5,000, Tk 7,000, Tk 9,000, and Tk 14,000, respectively. Locker Size Annual Charges (BDT) Small 5000 Medium 7000 Large 9000 Extra Large 14000 A refundable security deposit of Tk 5,000 is required. Lockers are available in Gulshan, Banani, Dhanmondi, Uttara, Chattogram, Sylhet, and other key locations. Customers can conveniently pay the rent through direct debit from their deposit accounts. Read more: Paribar Sanchayapatra 2025: Revised profit rates of Family Savings Certificate in Bangladesh IFIC Bank PLC IFIC Bank offers locker services with enhanced security and confidentiality. Lockers come in three sizes: small, medium, and large. The annual rent is Tk 5,000 for small, Tk 10,000 for medium, and Tk 12,000 for large lockers. Customers must pay a refundable security deposit equal to the annual rent.  To avail of the service, an individual or business entity must maintain a current or savings account with IFIC Bank. Rent payments are directly deducted from the customer’s account, providing a hassle-free experience. Lockers are available at multiple branches nationwide. Locker Size Annual Charges (BDT) Small 5,000 Medium 10,000 Large 12,000 Read more: Sanchayapatra interest rate revised: New profit rates of Bangladesh National Savings Certificate in 2025 Janata Bank PLC Janata Bank offers Safe Deposit Lockers across most of its branches in Bangladesh. This state-owned bank offer Small, Medium, and Large safety deposit boxes or lockers. The annual rent is Tk 2,000 for Small, Tk 3,000 for Medium, and Tk 5,000 for Large lockers. A refundable locker key security deposit of Tk 5,000 is required for all sizes.  Locker Size Annual Charges (BDT) Security Deposit (BDT) Small 2000 5000 Medium 3000 Large 5000 Locker services are available to individual and business account holders. Rent is payable in advance, and customers can conveniently set up standing orders for automatic payments. The service ensures high security and ease of access. Read more: Sanchayapatra at Maturity: Encashment or Renewal of Bangladesh’s National Savings Certificate Pubali Bank PLC Pubali Bank offers Safe Deposit Lockers to ensure the security of customers’ valuables. Lockers are available in three sizes: Small, Medium, and Large. The annual charges are Tk 2,000 for Small, Tk 3,000 for Medium, and Tk 5,000 for Large lockers.  Locker Size Annual Charges (BDT) Small 2000 Medium 3000 Large 5000 To avail of this service, customers must have a Savings, Current, or Short Notice Deposit account in the respective branch. Lockers are rented for a minimum period of one year. The bank ensures strict confidentiality and security, making it a trusted choice for locker services. Read more: How to Invest in Bonds: A Comprehensive Guide Standard Bank PLC Standard Bank offers lockers in Small, Medium, and Large sizes at competitive rates. The annual rent is Tk 3,000 for Small, Tk 4,000 for Medium, and Tk 6,000 for Large lockers. A refundable security deposit equivalent to one year’s rent is required. The service is available at select branches, ensuring customers can store valuables safely.  Locker Size Annual Charges (BDT) Small 3000 Medium 4000 Large 6000 Locker holders can nominate family members for easy access in emergencies. Payments can be made conveniently through automatic deductions from the customer’s account. Read more: How to Buy Bangladesh Government Treasury Bond: Everything You Need to Know Sonali Bank PLC Sonali Bank PLC offers a secure locker service in 54 branches, allowing customers to safeguard their valuables. In this government-owned commercial bank, safety deposit boxes or lockers are available in three sizes: small (4.7" x 7" x 23.50"), medium (4.7" x 14.33" x 23.50"), and large (9.4" x 14.33" x 23.50"). A refundable security deposit of Tk. 5,000 is required. The annual charges are 2500 Tk, 3000 Tk, and 4000 Tk for the small, medium, and large-sized lockers, respectively. Locker Size Annual Charges (BDT) Small 2500 Medium 3000 Large 4000 An additional 15% VAT applies to all charges. Lockers provide high security and easy accessibility for customers. The service is ideal for storing important documents, jewellery, and other valuables. Customers can visit designated branches to avail of this service and ensure the safety of their possessions. Read more: What to Consider Before Buying Land: A Step-by-Step Guide United Commercial Bank (UCB) Limited UCB provides Safe Deposit Lockers in 84 branches nationwide, offering maximum security for valuables like documents and jewellery. Lockers are available in three sizes: small, medium, and large. The annual rental fees are Tk 1,500 for the small, Tk 2,000 for the medium, and Tk 2,500 for the large-sized lockers. Locker Size Annual Charges (BDT) Small 1500 Medium 2000 Large 2500 A refundable security deposit equivalent to one year’s rent is required. The bank ensures confidentiality and ease of access with a hassle-free rent payment system through standing orders. UCB locker services are among the most affordable options in Bangladesh. Final Words Bank locker services in Bangladesh offer a secure way to store valuables, protecting them from theft, fire, and loss. With various sizes, affordable rents, and strong security measures, these safety deposit boxes or lockers provide peace of mind. Choosing a reliable bank locker ensures your precious belongings remain safe and easily accessible when needed. However, the annual fees of bank lockers are subject to change. Read more: What to Consider Before Investing in a Startup or Company?

Bangladesh Bank and the interim government are undertaking significant efforts to restructure the country’s banking sector, focusing on recovering both local and foreign assets embezzled by corrupt individuals. Officials have confirmed that these assets, laundered abroad, are being targeted for repatriation as part of a broader initiative to bring the financial sector up to international standards. The government emphasized its commitment to reforming the financial sector, acknowledging that the process is complex and time-consuming. A key element of this strategy will be the establishment of a banking commission tasked with investigating each implicated bank, uncovering the full extent of the corruption, and developing an action plan, according to the Chief Adviser’s press wing. This plan, which can be implemented within six months, aims to overhaul the sector to ensure compliance with global banking norms. The aim of Bangladesh Bank and the government is to be capable of complying with all international standards and building a strong banking sector. However, international technical assistance and funding will be required from the beginning to the end of the activities to achieve this objective. Read more: Bangladesh Bank reconstitutes boards of 3 banks, inc. two controlled by S Alam Group The reforms come in response to revelations that unscrupulous businessmen and influential figures have embezzled vast sums from the banking sector, laundering the funds abroad through fraudulent activities. Preliminary estimates suggest the total embezzled amount could exceed Tk 1 lakh crore, though the exact figure is still being determined. Significant steps have already been taken, with reforms initiated in several banks linked to the scandal. The boards of Islami Bank, Social Islami Bank, National Bank, United Commercial Bank, Global Islami Bank, and Union Bank have been reconstituted as part of the restructuring efforts. Similar measures will be implemented across other affected banks and financial institutions. The government has also sought assistance from foreign agencies to track and repatriate the laundered funds. As the new management teams take control, they will be responsible for gathering accurate data on the embezzled amounts and leading the recovery efforts. Read more: Businesses agree with central bank's steps against bank robbers: DCCI

Dr. Ahsan H. Mansur, newly appointed governor of Bangladesh Bank, has said his priority will be to check the high inflation and restore stability in the financial sector.  Expressing satisfaction over his new responsibility Dr. Mansur told UNB on Tuesday night that he will work with all stakeholders in the financial sector to bring back stability and put it on a solid foundation. On Tuesday night the interim government's law ministry hurriedly waved the age limit of 67 years for anyone to be appointed as governor of the central bank. Economist Mansur is now 72 years old. The last time the age limit provision got amended from 65 years to 67 years was in July 2020 to accommodate the reappointment of then-governor Fazle Rabbi.  Read more: Money launderers won’t be allowed to sleep in peace: New Bangladesh Bank Governor He believed that despite high inflation - it hit 11.66 in July in a 13-year high- the central bank under the previous administration did not give full attention to curb it.  Controlling inflation remains a top priority for any central bank.  However, money supply, exchange rate stability, and inflation control all depend on the decision of the governor. Besides, the standard of living, international trade, investment, and employment depend a lot on the decisions of the central bank of any country, he said. Dr. Mansur started his career as a lecturer, at the Department of Economics, Dhaka University in 1976. He left for Canada for higher studies in economics the same year. As a graduate student and research assistant, he was also offering regular economics courses at the undergraduate level at the University of Western Ontario, Canada (1978-81).  Dr. Mansur joined the International Monetary Fund under its Economist Program in 1981 and thereafter completed his PhD in Economics (on general equilibrium analysis) from the University of Western Ontario in 1982. During his long career at the IMF, he worked in Middle Eastern, Asian, African, and Central American countries. He worked in important functional departments (Fiscal Affairs and Policy Review and Development departments) and area departments (Middle East and Central Asia and Asian departments) of the IMF. Read more: Inflation hits 13-year high of 11.7% in July: BBS He also served as the IMF Senior Resident Representative to Pakistan from 1998-01 and as the Fiscal Advisor to the Minister of Finance, Government of Bangladesh (1989-91).

A bank account holder can withdraw cash up to two lakh taka a day for this week given the current security situation, according to a Bangladesh Bank circular. The central bank issued the instruction to the MDs of all commercial banks through SMS on Saturday. It will be effective from Sunday, the first working day of the week. Earlier on Thursday the maximum cash withdrawal limit was set at one lakh taka.    Read more: Bangladesh Bank Governor Abdur Rouf resigns However, businesspeople can draw larger amount of cash for payment of salaries of employees ensuring security on their own, said the circular. The same is applicable for the expatriates. The central bank also asked banks to supervise that a person cannot withdraw money from multiple branches of banks in a day. This directive should be followed especially in the case of key political leaders. On Thursday, the Bangladesh Financial Intelligence Unit (BFIU) under the BB was ordered to report any amount of money withdrawn by a politically important person. The names of political leaders, bank chairmen, businessmen, secretaries, and senior police officers are on this list. Such instruction is given mainly to prevent any person from withdrawing money for criminal activity or escaping from the country. Read more: Bangladesh Bank operates without governor and deputy governors

The visiting International Monetary Fund (IMF) delegation has advised Bangladesh Bank to disclose detailed and complete information regarding bad and risky loans fin the public interest. Meeting sources said that the visiting IMF delegation gave this suggestion in the meeting held with the BB officials on Sunday (April 28).  In the meeting, the IMF asked to make the financial health of the banks and the inspection report open to the customers. At the same time, it urged to increase the number of inspections to prevent irregularities-corruption and loan scams. Officials concerned in the meeting said that bad loans or risky assets are increasing in banks due to various irregularities including big loan scams. Several banks have weakened which also acknowledged by the BB Governor.  Therefore, the IMF believes that the deposits of those banks which are in trouble are also at risk. In such a situation, the global lender suggested that the banks should disclose the full report of risky assets to the customers.  Read more: DUJ, DRU, TIB condemn ban on journalists entering Bangladesh Bank According to the IMF Officials, “If these reports are published, the customers will be able to make informed decisions about keeping their deposits.” In the meeting, the IMF sought to know whether the central bank's inspection of banks' financial health is continuing or not. Clarification has also been sought as to whether inspection reports are disclosed to customers or not.  In addition, the IMF delegation suggested increasing the quality and number of inspections to prevent irregularities, corruption and loan scams, sources said. When asked about the meeting with the BB, the executive director and spokesperson of the BB Mesbaul Haque said that the meetings with the IMF are ongoing. This meeting will be held step by step till May 8. He did not agree to make any comment other than that and said the details will be given in future. Read more: Islamic Banking in Bangladesh: Commendable contribution to the country’s economic growth

The central bank of Bangladesh has been forced to issue a statement to clear the air, as it were, of the confusion arising out of its initiative to bring about consolidation in the country's ailing banking sector. As a necessary part of the process aimed at reducing the number of banks in the country, the sector is going to witness a number of mergers between previously disparate entities in the coming days. Top execs of merging bank cannot hold posts at acquiring entity: Bangladesh Bank Five merger proposals have already been received and  are expected to be approved by the end of 2024. They involve around 11 institutions, and if completed as proposed, would reduce the number of banks in Bangladesh by 6 - around 10% of the total. Yet the unprecedented nature of these moves in the banking sector, where there is no previous record of two Bangladeshi banks having merged, has led to a state of panic and confusion among members of the public, to the extent that people are reportedly withdrawing their deposits from certain banks, said sources at some respected banks. Bangladesh Bank auctions gold for the first time in 16 years They said most of the depositors are suffering from the dilemma of whether or not to keep money in the bank. Some are withdrawing their money from the banks due to 'fear'. Bangladesh Bank was forced to address the issue in its statement today, asserting that individual as well as institutional depositors' money will remain fully safe and secure in banks during the merger process. Noticing different news and social media posts, the central bank said accountholders of two merging banks will be able to maintain their respective accounts as before even after the completion of the merger. Bangladesh Bank issues detailed directive on appointment of MD, CEO for NBFIs The merger process will be completed based on the consent of the entrepreneurial directors, current boards, and common shareholders of the banks covered by the merger, said the statement.

Shrikanta Nandi, manager of Natun Bazar branch in Chandpur town of Pubali Bank PLC, has gone missing with more than Tk 2.5 crores. Shrikanta Nandi, 40, is son of Nani Gopal Nandi and a resident of  Ghagra village in Kachua upazila. The new manager of the bank and a customer filed two General Diaries (GD) separately at Chandpur Sadar Model Police Station in this regard. Narsingdi UP member shot dead in broad daylight According to the sources, Shrikanta Nandi swindled Tk 2. 51 crore from the customers. On Monday (April 15) afternoon, the new manager of the branch  Humayun Kabir and  Chandpur Model Police Station Sub-Inspector (Investigative Officer) Nazrul Islam, came to know the matter after talking to customers. Akbar Hossain Liton, one of the victims, said Shrikant Nandi wanted to borrow money from him before Eid. A few days later, when he went to the bank for a pay order, he took Tk  1.76 crore from him. "But he disappeared without depositing the money in the bank," Liton claimed. On April 13, Liton lodged a GD at Chandpur Model Police Station. The accused bank manager also swindled Tk 75 lakh from another customer named Maruf of the Asrafpur area offering more profit. Padma Bridge: Record Tk 4.90 crore toll collected in 24 hrs The matter is being investigated through the higher authority, said the current bank manager, adding that there is no problem with internal customers' transactions. Chandpur Model Police Station Sub-Inspector Nazrul Islam said that they are investigating the issue following the GDs. "We will take legal action if there is any complaint regarding the transaction," he added. Read more: BRAC Bank promotes three senior officials to SEVP