New transaction time for banks in Ramadan
Change has been brought for the timing of office work and transaction in banks in Bangladesh on the occasion of holy month Ramadan. Bangladesh Bank has issued a direction in this regard on Sunday.
According to the direction, the bank office timing will be from 9:30 am to 4 pm. But the general subscribers can perform their transaction from 9:30 am to 2:30 pm.
There will be an 15 minutes interval from 1:15 pm to 1:30 pm for Johr prayers. But the transaction activities will continue through internal coordination during that period like previous.
After completion of the month of Ramadan office and transaction time of the banks will be like at present.
AH
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The economy isn't sick right now, nothing to be disappointed: Finance Minister
Finance Minister Abul Hassan Mahmood Ali has said that there is nothing to be disappointed about the country's economy.
He said this while talking to reporters after the Finance Ministry session at the Deputy Commissioners' (DC) conference at Osmani Memorial Auditorium in the capital on Monday (March 4) at 12:15 pm.
"Under the leadership of PM Sheikh Hasina, all the indicators of our country's development and economy are increasing. In February, on Sunday (March 3) Bangladesh saw the highest remittance inflow in the past eight months amounting to $2.16 billion.
Responding to a question, Mahmood Ali said, "We are moving forward with Sheikh Hasina's Delta Plan 2100. You can see the development that has taken place in the country and instilled hope among the people of the country.
Bangladesh Bank resets banking hours for Ramadan
During Ramadan, banking hours is reduced by 30 minutes. Bangladesh Bank said in a new directive that banking transaction will take place between 9:30 am to 2:30 pm.
Bangladesh Bank on Tuesday (March 5) has fixed office hours for banking transactions during Ramadan.
According to the Bangladesh Bank, banks will remain open from 9:30 am to 4:00 pm. There will be a break for prayers from 1:15 pm to 1:30 pm in the office timing during Ramadan. However, transactions should be continued in alternative systems at this time.
The usual working and transaction schedule will resume to the previous state at the banks and financial institutions after the holy month of Ramadan.
Nine banks in red zone: Bangladesh Bank
The financial condition of four commercial banks has become fragile. As a result, the banks had fallen into red zones. Besides, four private banks and one foreign bank are on the list.
The four state-owned banks are Basic Bank, Janata Bank, Agrani Bank and Rupali Bank. Besides, there are four private banks in this zone. These are Padma Bank, Bangladesh Commerce Bank, National Bank and AB Bank. Besides, the foreign National Bank of Pakistan is in the red zone.
Bangladesh Bank (BB) gave this information with a biennial report titled "Banks Health Index and HEAT Map" prepared by the Financial Stability Department of the BB.
Padma Bank set to merge with Exim Bank
Padma Bank is going to be merged with Exim Bank. The decision was taken unanimously at a meeting of the Board of directors of Exim Bank.
Bangladesh Bank has been informed about the merger of the two banks. Chairman of Exim Bank, Nazrul Islam Mazumder, confirmed the matter to the media on Thursday (March 14).
Padma Bank is set to merge with Exim Bank, marking the first voluntary merger in Bangladesh's history.
Padma Bank, which has long been struggling with bad loans, set to merge with Exim Bank marking the first voluntary merger in history Bangladesh.
A director of Exim Bank said, "We have decided to merge the private Padma Bank with our bank. Soon it will be sent to Bangladesh Bank for permission. It will come into effect after the approval of the regulatory body."
Revenue deficit may expand 82,000 crore: CPD
The Centre for Policy Dialogue (CPD) believes that the government is going to face a huge revenue deficit in the fiscal year 2023-2024. Observing the current trend of revenue collection in the last six months, it is expected that there may be a deficit of Tk 82,000 crore at the end of the financial year.
CPD Executive Director Fahmida Khatun made the announcement at a press conference at the CPD office in Dhanmondi on Saturday (March 16).
According to the CPD, there has been a big deficit in revenue collection for 10 to 11 years. This deficit will remain in the financial year 2023-24 as well; By the end of the year, it could be Tk 82,000 crore. They also said that the government's budget deficit has decreased, but the government's dependence on commercial banks has increased to reduce the deficit.