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This is a list of countries by annualized interest rate set by the central bank for charging commercial, ... Bangladesh: 6.50 0.50: 1 July 2023 [13] 5.58
The Al-Arafah Islami Bank PLC. burrowed 750 million BDT from Sonali Bank at 9 per cent interest rate in January 2023 following a cash shortage at the bank. [18] The Bank donated 40 million BDT to Ashrayan-2 Project of Prime Minister Sheikh Hasina. [19]
Bangladesh Saving Certificates- This five year saving scheme provides return of around 12.2% at maturity with varying degree of returns for premature withdrawal depending on the duration of investment. Maximum allowable investment in this scheme is capped to Tk 30,00,000/- for individual investors and Tk 60,00,000/- for joint investors.
The bonds are implicitly subsidised, as they are guaranteed by the Government of Bangladesh, and still they are sold above the bank rate. [23] In 2013, Bangladesh parliament passed 'Grameen Bank Act,' which replaces the Grameen Bank Ordinance, 1983, authorising the government to make rules for any aspect of the running of the bank.
In August 2021, Bangladesh Bank issued a show cause notice to Shimanto Bank PLC and nine other banks for having a low interest rate on their deposits. [13] As of October 2024, Shimanto Bank PLC has 25 branches, [14] 7 sub-branches and 28 ATM booths.
There has been a dramatic growth in exports and remittance inflow which has helped the economy to expand at a steady rate. [196] [197] Bangladesh's GDP is expected to grow at 5.3 percent in 2023 and 6.5 percent in 2024 according to the latest ADB report. [198] Bangladesh has been on the list of UN Least Developed Countries (LDC) since 1975.
On 7 April 1972, after the Bangladesh Liberation War and the eventual independence of Bangladesh, the Government of Bangladesh passed the Bangladesh Bank Order, (P.O. No. 127 of 1972), reorganising the Dhaka branch of the State Bank of Pakistan as Bangladesh Bank, the country's central bank and apex regulatory body for the country's monetary and financial system.
An interest rate is the amount of interest due per period, as a proportion of the amount lent, deposited, or borrowed (called the principal sum). The total interest ...