Bangladesh Bank (BB) has dissolved the boards of directors of five financially distressed Shariah-based banks, effectively declaring them ‘ineffective’, as part of a move to merge them into a single state-owned Islamic bank. The decision follows a proposal from Bangladesh Bank and a recommendation from the Financial Institutions Division (FID).The banks involved are First Security ...more

The interim government last month approved the establishment of a new bank by merging five financially distressed Shariah-based banks. Following this decision, the formal process of creating Sammlito Islami Bank PLC has now begun, coordinated by the Ministry of Finance and Bangladesh Bank.The new bank:s memorandum and articles of association have already been sent to ...more

Bangladesh’s banking sector is under a mounting cyber threat, with an average of over 400 cyberattacks occurring daily. Recent research reveals that a significant portion of these attacks originates from foreign countries, notably China, North Korea, and Russia, with China alone accounting for one-quarter of all attacks.The findings were highlighted in a presentation titled “Cyber ...more

Bangladesh Bank’s latest data shows that Bangladeshi citizens spent over BDT 443 crore abroad using credit cards in August 2025, marking a 19% increase compared to the same month last year. Bank officials attributed the growth in overseas card spending to two main factors: political stability in the country and the easing of the dollar ...more

Bangladesh’s banking sector is now grappling with one of the worst crises in its history, with nearly 89% of all disbursed loans classified as “risky” following years of political interference, widespread looting, and poor governance during the Awami League regime.According to an updated Bangladesh Bank report, the country’s total banking assets stand at Tk 27 ...more

Bangladesh’s banking sector is grappling with an unprecedented crisis, particularly within its four major state-owned banks: Sonali, Janata, Agrani, and Rupali. These institutions, once pillars of the nation’s financial system, are now at the epicenter of a multifaceted disaster characterized by plummeting loan disbursements, soaring non-performing loans (NPLs), administrative chaos, and a profound loss of ...more

A fraudster has used a novel tactic to withdraw money from the credit cards of foreign-owned Standard Chartered Bank (SCB) Bangladesh customers. Even though the victims did not make any transactions, Tk 50,000 was suddenly transferred from their cards to their bKash and Nagad accounts. The fraudster then quickly withdrew the money from there.According to ...more

Bangladesh currently does not have enough dollar reserves to meet potential emergency needs, according to Dr. Salehuddin Ahmed, the government’s Economic Adviser. He made the statement while addressing journalists after a joint meeting of the Advisory Committee on Government Procurement and the Economic Affairs Advisory Committee at the Cabinet Division conference room on Tuesday. “Even ...more

Bangladesh Bank Governor Ahsan H. Mansur has said that corruption and money laundering can be significantly reduced by expanding and popularizing digital transactions across the country.Speaking at a discussion meeting on inter-banking transactions, organized by mobile operators at a hotel in Dhaka on Monday, the Governor stressed that a transparent financial system will not only ...more

A mounting crisis is threatening the stability of Bangladesh’s banking sector as a massive sum of loan money is trapped in court stay orders, leaving banks unable to show the full extent of defaulted loans. According to sources at Bangladesh Bank, due to these legal hurdles, defaulted loans worth Tk 163,000 crore are not being ...more