The Government Continues to Increase Its Debt Burden
The government had planned to borrow a certain amount from the banking system in the current fiscal year, but within nine months it has already borrowed more than that.
Bangladesh Now Has the Highest Non-Performing Loan Rate in the World
Bangladesh’s banking sector is currently facing an unprecedented crisis. As of the end of September this year, nearly 36 percent of bank-distributed loans have become non-performing. According to the latest data from Bangladesh Bank, the volume of non-performing loans (NPLs) stands at 644,515 crore taka. In just nine months, NPLs have increased by nearly 300,000 crore taka, an extraordinary rise in the country’s history.
30% Default Loans in Standard Bank, Future Uncertain Amid Father–Son Conflict
Standard Bank has fallen into a severe crisis. The Shariah-based bank’s default loans have reached almost one-third of its total loans. At the same time, a power struggle between father and son in the boardroom has escalated to such a level that the bank’s future operations have become uncertain.
Bangladesh Taka Falls to Record Low of Tk 122.75 per Dollar
The value of the U.S. dollar has risen again against the Bangladeshi taka. On October 23, the highest selling rate of the dollar across various banks stood at Tk 122.75, up from Tk 122.30 last week. Bank officials said the increase is due to a rise in the number of import LCs being opened, among several other factors.
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