Companies linked to the controversial S Alam Group took out 56 percent of the total disbursed loans of First Security Islami Bank (FSIB), one of six Shariah-based lenders controlled by the Chattogram-based business giant.
SIBL, in which Chattogram-based S Alam Group holds a majority stake, hid Tk 7,924 crore of its defaulted loans, according to an inspection by the central bank.
Eight state-owned enterprises (SOEs) of Bangladesh had a combined default loan of Tk 183.62 crore in February, official figures showed.
The BB said this will come into effect from September 30 this year.
The verdict so far is that the year will see slow GDP growth but also experience lower inflation.
To overcome the economic crisis, no doubt, the country needs strong economic leadership, backed by strong political will.
The system of selling insurance services to bank customers will ultimately expand financial inclusion.
Resilience in the banking sector will be affected significantly if the top three borrowers default on their loans, as per the financial stability assessment report of the Bangladesh Bank.
Rick Haque Sikder, a director of National Bank Ltd (NBL) and chairman of R&R Aviation Ltd, has defaulted on repayments of a loan with AB Bank Ltd, which might cost him the directorship if dues are not cleared in two months.
Companies linked to the controversial S Alam Group took out 56 percent of the total disbursed loans of First Security Islami Bank (FSIB), one of six Shariah-based lenders controlled by the Chattogram-based business giant.
SIBL, in which Chattogram-based S Alam Group holds a majority stake, hid Tk 7,924 crore of its defaulted loans, according to an inspection by the central bank.
Eight state-owned enterprises (SOEs) of Bangladesh had a combined default loan of Tk 183.62 crore in February, official figures showed.
The BB said this will come into effect from September 30 this year.
The verdict so far is that the year will see slow GDP growth but also experience lower inflation.
To overcome the economic crisis, no doubt, the country needs strong economic leadership, backed by strong political will.
The system of selling insurance services to bank customers will ultimately expand financial inclusion.
Resilience in the banking sector will be affected significantly if the top three borrowers default on their loans, as per the financial stability assessment report of the Bangladesh Bank.
Rick Haque Sikder, a director of National Bank Ltd (NBL) and chairman of R&R Aviation Ltd, has defaulted on repayments of a loan with AB Bank Ltd, which might cost him the directorship if dues are not cleared in two months.
With the high rate of non-performing loans (NPLs) being a major challenge for the banking sector, just 25 of the 61 commercial banks in Bangladesh are managing to keep their NPL rates below 5 percent.
