Shanchayapatra or national savings certificate has long served as a reliable saving scheme, providing a dependable path toward financial stability for the people of Bangladesh. Upon reaching maturity, some holders may find it necessary to withdraw their funds, whether for personal expenses, medical needs, or investment opportunities. For others, however, the renewal option of their Sanchayapatra offers a chance to continue growing their savings. Let’s explore what steps to take when it reaches maturity. Sanchayapatra Encashment Process Completing the encashment of Sanchayapatra typically requires around 2 to 3 business days after maturity depending on the issuing bank. For certain banks, processing may even take a few additional days. Each bank maintains its unique form to carry out the process. The first step in withdrawing funds is to fill out a form. After completing it, the form must be manually signed and submitted to the branch of the bank from where the Sanchayapatra was purchased. Read more: Buying US Dollar Investment Bonds: A Comprehensive Guide for NRBs If the investor cannot appear at the bank or sign the form due to physical limitations, a nominee can carry out the procedure on his/her behalf. In such cases, the investor must provide a medical certificate that verifies their physical condition. In addition to the investor, the nominee may withdraw only the profit earned from the Sanchayapatra. However, this requires explicit written authorization from the investor, including their signature and a discharge of the profit coupon. The initial deposit value, however, cannot be accessed solely through an authorization letter or permit. For Sanchayapatra purchased online, this procedure becomes much simpler. This online context refers to the National Savings Scheme Online Management System. In this regard, Bangladesh Bank recently issued directives to all its branches and scheduled banks. The principal of Sanchayapatra bought via the system will be credited directly to the investor’s account upon the exact day of maturity. Read more: How to Buy Bangladesh Government Treasury Bond: Everything You Need to Know Additionally, any profits will be transferred in installments on schedule. All transactions will be processed through the Electronic Fund Transfer (EFT) system. It means neither the investor nor their nominee will need to visit the bank to receive the profits or maturity value. Sanchayapatra Renewal Process With the automation of the new system, paperwork-related complications are set to reduce significantly. Here are the updated renewal guidelines for Sanchayapatra as per the directives of Bangladesh Bank: - For Family Sanchayapatra, Three-Month Profit-Based Sanchayapatra, and Pensioner Sanchayapatra, only the original invested amount will be automatically reinvested.- For five-year Sanchayapatra and Post Office Sanchayapatra, both the principal and the profits will be automatically reinvested. Read more: Investment: What Factors to Consider before Investing Money? In these cases, the maximum investment limit will be applied from the date of reinvestment.Profits from Pensioner Sanchayapatra will now be disbursed monthly rather than quarterly. In a Nutshell The recent advancements in Shanchayapatra’s encashment and renewal processes offer a streamlined, hassle-free experience. By utilizing the National Savings Scheme's online management system, investors gain seamless access to renew or encash Sanchayapatra. Thanks to the EFT system, funds are deposited directly into the account on maturity day, eliminating the need for in-person visits or form submissions. With automatic renewal options, holders can effortlessly reinvest, avoiding administrative delays and potential complications. Together, these improvements ensure a smoother, more accessible experience for all Sanchayapatra holders. Read more: Is Sanchayapatra a Good Investment Read more: How to Buy Sanchayapatra in Bangladesh: A Beginner's Guide

Bangladesh is seeing a sharp rise in remittances, with citizens working abroad sending an average of $75 million daily in October, following the recent political transition. The latest data from Bangladesh Bank reveals that a total of $1.94 billion in remittance has flown into the country by October 26. An analysis of central bank data shows that six state-owned banks received $547 million in remittance, while Bangladesh Krishi Bank received $99.99 million. The private sector accounted for the largest share, with 42 banks collectively receiving $1.296 billion, and six foreign banks processing $5.12 million from October 1 to 26. Islami Bank holds views-exchange with foreign banks to strengthen remittance earning However, nine banks reported zero remittance inflow during this period. These include state-owned Bangladesh Development Bank (BDBL) and specialized Rajshahi Krishi Unnayan Bank (RKUB), as well as private banks Community Bank, Citizens Bank, ICB Islamic Bank, and Padma Bank. Foreign banks, including Habib Bank, National Bank of Pakistan, and State Bank of India, also reported no remittance transactions.

Bangladesh Bank will donate Tk 5 crore to the foundation formed for those injured and killed in the recent student movement for quota reform and the fall of the autocratic government. Besides, the central bank will also donate Tk 23 crore from the staff's one-day salary and the bank's disaster management and social responsibility fund to the Chief Adviser's Relief and Welfare Fund. In a meeting, the central bank's board of directors on Wednesday took the decision, according to a press release.

Salt, a staple seasoning found in every kitchen, is not just a basic necessity—it is a luxurious commodity in some parts of the world. Certain kinds, from rare sea salts to ancient mineral deposits, command astonishing prices. Discover the top 10 most expensive salts that redefine the concept of seasoning. World's Top 10 Costliest Salts . Korean Purple Bamboo Salt (Amethyst Bamboo 9x) Bamboo Salt, also known as Amethyst Bamboo 9x or Jukyeom, is the world's most expensive salt. Found in Korea, this salt is priced at $17 per ounce.  This rare salt undergoes a meticulous process where sea salt is packed into 3-year-old bamboo stalks, sealed with clay, and roasted over a pinewood fire up to nine times.  This labour-intensive method infuses the salt with minerals and detoxifies it, giving it a unique dark purplish-black colour. Historically used by Korean Buddhist monks for its medicinal properties, Bamboo Salt is valued for its anti-inflammatory, antioxidant, and immune-boosting benefits, making it highly sought after. Read more: 12 types of salt used in cooking, baking and seasoning Hana Flake Japanese Sea Salt Hana Flake Salt is a delicate and exquisite finishing salt, priced at $16 per ounce. Originating from Japan, this salt is renowned for its pure white, semi-translucent flakes that resemble flattened pyramids. The salt sparkles like delicate snowflakes, making it an elegant garnish for various dishes and cocktails. 

Bangladesh has received US$ 23.915 billion in remittances for the fiscal year 2023-24, ending on June 30, marking the second highest remittance inflow in a fiscal year to date. Md Mezbaul Haque, Executive Director and Spokesperson of Bangladesh Bank, told UNB that expatriate Bangladeshis sent $2.542 billion in remittances in June 2024. This brought the total remittance amount from July 1 to June 30 of FY 2023-24 to $23.915 billion, compared to $21.610 billion in the previous fiscal year. Bangladesh Bank extends Tk 5000 crore refinance scheme to support food security Remittance inflow to Bangladesh rose 15.59 percent year-on-year to $2.542 billion in June, as migrant workers sent more money home for Eid-ul-Azha. In May 2024, expatriate workers sent $2.253 billion in remittances. Sector insiders attribute this growth to the higher exchange rate of the dollar and the festive occasion of Eid-ul-Azha, which prompted expatriates to send additional remittances to their families. Economist Dr. Ahsan H. Mansur commented that Bangladesh can increase remittances through legal channels by enhancing financial and non-financial benefits for the remitters. He noted that many remitters prefer the illegal Hundi system due to its higher exchange rate, diverting legal remittances to illegal channels. Read more: How to safely send remittance to Bangladesh?

Personal loans are a great option for those looking to make a big financial decision in their life. It could be buying a new car, planning a wedding, going on a vacation abroad, paying for higher studies, or getting a new home. Personal loans offer secured debt consolidation as they cover tons of financial needs. While taking out a personal loan is pretty straightforward, you should consider some key aspects before going for one.  Things to Consider Before Taking Out a Personal Loan from a Bangladeshi Bank  Purpose of the Loan  Personal loans are mostly taken as a form of investment source. It can be debt consolidation or a major investment for future benefit. Regardless, a loan means incurring a liability until it is paid off. It is important to properly assess whether taking the loan is a feasible decision or not.  It is also important to consider alternative funding sources like personal savings, emergency funds, or borrowing from family.  Interest Rate One of the prime things to consider is the interest rate accrued to the loan capital. Currently, Bangladesh Bank has a regulation in place that outlines the upper limit that can be charged by the banks. The Bangladesh Bank interest rate regulation can be checked from the lending rate of scheduled banks (https://www.bb.org.bd/en/index.php/financialactivity/interestlending). Read more: Top 10 Strongest Currencies in the World as of May 2024 Additionally, a borrower can use websites like aamartaka.com to compare the rates among banks, check eligibility criteria, and even apply through their designated channels. Understand the Eligibility Criteria  The first thing to consider while applying for a personal loan is to understand the eligibility criteria. Personal loans can come in both secured and unsecured options. Granted that the unsecured options will incur a higher interest rate.  However, most banks require a set of eligibility criteria for one to apply for a loan. For example, the valuation of collateral against the loan or the liquidity level of the applicant. Other aspects like personal history verification, job verification, income, and salary credit account can also be the eligibility criteria depending on the lender. Another key aspect is the history of bankruptcy or loan default which might disqualify a person from applying for a personal loan.  Have a Good Credit Rating  A credit history is one of the key determinants of loan disbursement abroad. One can’t even apply for a credit card without a stable credit rating, let alone a personal loan. Credit rating determines the creditworthiness of an individual, that is how likely they are to repay a loan based on previous credit history.  Read more: How to Buy Bangladesh Government Treasury Bond: Everything You Need to Know There are several credit scoring systems globally like FICO score and VantageScore. However, in the case of Bangladesh, the banks and NBFIs do not follow a set credit score while approving loans. Alternative credit scoring like asset ownership, utility payments, device data, and rental payments are taken into consideration. It is mostly because a large portion of the demographic is unbanked or underbanked to make credit scoring the sole determinant for loan approval. 

When it comes to investments, bonds offer some of the best-secured opportunities out there. As a part of investment facilities through bonds for non-resident Bangladeshis (NRBs), Bangladesh Bank offers US Dollar investment bonds (USDIB). Let's take a detailed look at who this is for, how to apply, and what are the benefits of the bond.  What is a US Dollar Investment Bond?  The US Dollar Investment Bond was first introduced in 2002 as a form of investment opportunity for the NRBs. The key goal was to maintain economic stability and increase foreign reserves by attracting dollar investments. It also provided a secure pathway for the NRBs to invest and gain from their foreign earnings. The rules for the USDIB were later updated in 2012 where the invested principal and the interest can be repatriated in dollar or taka as per the choice of the investor.  Read more: How to Invest in Bonds: A Comprehensive Guide Who is Eligible for USDIB?  The government of Bangladesh outlined the eligibility criteria for USDIB investment as follows:  Any NRB living and working abroad earning in foreign currency.Foreign nationals of Bangladeshi origin living abroad and earning in foreign currency. Government and semi-government employees working abroad and earning in foreign currency. This includes those working in Bangladeshi missions or international organizations. How to Buy USDIB?  The process of buying USDIB starts with opening a foreign currency account in any designated bank that operates USDIB under Bangladesh Bank. Note that the F.C. account is different from the Non-Resident Investor’s Taka Account (NITA) as the investment currency can only be US dollars in this case.  Step 1: Opening a Foreign Currency Account  Almost all the leading commercial banks (both national and private) offer USDIB under their NRB banking services. To open a foreign currency account, an NRB would require the following documents.  - Prescribed Account Opening Form - Two passport-size photographs of each of the account holder and the nominee - Authorized specimen signature card (attested by the Bangladesh Embassy in the residing country) - Proof of employment - Copy of passport (attested by the Bangladesh Embassy in the residing country)  An NRB can easily open the F.C. account in any foreign branch of the available banks or use the mail-in service to open the account in Bangladesh.  Read more: Top 10 Strongest Currencies in the World as of May 2024 Step 2: Document Required for USDIB  The process of applying for USDIB differs from bank to bank. Generally, the following documents are required.  - Bangladesh Bank application form for USDIB (https://fid.portal.gov.bd/sites/default/files/files/fid.portal.gov.bd/forms/4085d5c1_fd59_4be6_921d_c2c491fce6dc/investment.pdf)- Application request to invest in USDIB in the respective bank - Personal declaration form - FATCA form (for NRBs residing in the USA)  Step 3: Applying for USDIB  Once you apply for USDIB, you will need to show equivalent funds in your foreign currency account associated with the bank. The money can be deposited in the F.C. account in one of the following ways:  - Cash foreign currency deposited at an NRB branch of the bank- Traveler cheques - Regular cheques or drafts - Money order receipt - Electronic fund transfer - Once the bank completes the due diligence, it will issue bond scrips against the desired amount of bonds to be purchased.  Read more: How to Buy Bangladesh Government Treasury Bond: Everything You Need to Know

Finance Minister Abul Hassan Mahmood Ali announced today that the third installment of the International Monetary Fund's (IMF) $4.7 billion loan will be disbursed in June. The announcement came after a meeting with IMF Executive Director Krishnamurthy V Subramanian at the finance minister's office in the Secretariat. IMF approves $1.15 billion on staff-level for Bangladesh in third loan tranche In response to reporters' questions following the meeting, Minister Ali stated, “We are working to increase the flow of dollars. There are many negotiations and efforts underway in this regard. We hope to resolve this issue soon.” IMF Executive Director Subramanian expressed support for Bangladesh's efforts. “You are on the right track. We support the work you are doing to resolve the issue,” he said. IMF delegation holds meetings with energy officials, wants to know govt plan on settling dues When asked about the status of the third installment, Minister Ali confirmed, “They will pay in June, and there is no obstacle.”

Bonds are used by issuers to raise money from the capital market. In layman's terms, bonds are essentially instruments of debt created between the lender and the borrower. During certain economic situations, there might be a need for capital generation. As a result, it's normal to see a host of bonds being circulated in the market.  But how do you know which bond is right for you? What factors should you consider before investing in a certain bond? Let’s find out.  Types of Bonds  There are several ways to classify bonds. The most common ones are based on issuer, maturity, interest payment structure, and features. Let’s look at the different bonds under each basis.  Based on Issuer  Treasury Bonds  Treasury bonds are issued by the central bank directly on behalf of the government. For short-term investments, an alternative to treasury bonds can be treasury bills.  Read more: How to Buy Stocks: 10 Key Factors to Check Municipal Bonds  Countries with provincial and local government structures may issue municipal bonds based on the government entity. It works the same way as treasury bonds. Agency Bonds Agency bonds are issued by government-affiliated or controlled entities. For example, a government-sponsored enterprise like Biman can issue bonds to raise capital to improve its infrastructure and service.  Investment Grade Bonds  Investment-grade bonds are issued by entities with high credit ratings. Typically the coupon rate for such bonds is low and the investment is more secure.  Junk Bonds  These bonds are issued by companies with low credit ratings and high default probabilities. The returns from these bonds are high whereas the overall investment is less secured.  Supranational Bonds  These types of bonds are issued by international entities like investment banks and the World Bank. The denomination of these bonds is not geographically limited.  Read more: Premortem Analysis: How to Anticipate Failure Based on Maturity  Short Term Bonds Short-term bonds usually have a maturity of less than three years. Treasury bills also fall under the short-term bond structure.  Medium Term Bonds Medium-term bonds have a maturity period between 4 to 10 years.  Long Term Bonds Long-term bonds usually have a maturity period of over 10 years. It also includes perpetual bonds.  Read more: How to Buy Bangladesh Government Treasury Bond: Everything You Need to Know Based on the Interest Payment Structure  Fixed-Rate Bonds  Fixed-rate bonds usually have a fixed coupon rate throughout the maturity period of the bond. For example, the Bangladesh Government Treasury Bond is a fixed-rate bond.  Floating-Rate Bonds  Floating-rate bonds can fluctuate compared to a benchmark rate set at the start of bond sales. Here, the coupon rate varies during the lifetime of the bond.  Zero-Coupon Bonds  These types of bonds do not pay any periodic interest rate. Instead, these bonds are sold at a discount and the investor gets back the face value of the investment upon maturity.  Read more: Gold vs Diamond: Which Should You Choose for Investment? Based on Features  Convertible Bonds Bonds that can be transformed into predetermined shares of the borrowing entity.  Callable Bonds Bonds that can be redeemed by the issuer before it reaches maturity.  Puttable Bonds Bonds that can be sold by the investor to the issuer at a predetermined price before maturity.  Read more: Shares vs Bonds: What is the Ideal Investment Opportunity Perpetual Bonds Bonds that do not have any maturity date.  Inflation-Adjusted Bonds Bonds whose coupon rate and the principal are adjusted per the inflation rate. Sukuk Bonds issued in line with the Islamic laws.  Read more: How to Raise Angel Investment for Startups in Bangladesh

Bangladesh’s total interest payment on loans for the next two fiscal years is set to reach Tk 2,537 billion, as stated in the government’s ‘Medium Term Macroeconomic Policy Statement for 2023-24 to 2025-26’. The breakdown reveals Tk 1,154 billion slated for the 2024-25 fiscal year and Tk 1,383 billion for 2025-26. Domestically, the interest payments are projected to be Tk 1,008 billion in 2024-25 and increase to Tk 1,205 billion in 2025-26. Conversely, payments on external loans are significantly lower, with Tk 146 billion due in 2024-25 and Tk 178 billion in 2025-26. RMG industry must tackle 3 challenges to sustain in competitive market The government aims to reduce its total expenditure on interest payments by the end of the 2025-26 fiscal year. Historically, in FY 2020-21, 15.4 percent of total expenditures were devoted to interest payments. This figure is forecasted to decrease to 13.5 percent by the end of FY 2025-26. In more detail, domestic interest payments are expected to drop from 14.4 percent of total government expenditures in FY 2020-21 to 11.6 percent in FY 2024-25, returning to 11.8 percent in FY 2025-26. In contrast, external interest payments, which comprised 0.9 percent of total expenditures in FY 2020-21, are anticipated to rise, reaching 1.7 percent by FY 2025-26. This increase is attributed partly to the depreciation of the taka against the US dollar and heightened external financing needs. The prevalence of National Savings Certificates in the debt portfolio, a traditionally high-interest option, has also been a factor in elevated interest costs. However, a projected decrease in the share of these instruments is expected to bring down the implicit interest rate of domestic financing. The implicit domestic interest rate is anticipated to improve from 10 percent in FY 2020-21 to 9 percent in FY 2024-25 and FY 2025-26. Meanwhile, external borrowings, influenced by global interest rate hikes and local currency depreciation, are likely to increase the external implicit interest rate from one percent in FY 2020-21 to two percent in FY 2025-26. Mitigating deficit: Govt targets external financing of Tk 1200.3 billion and Tk 1306.4 billion over next two fiscals Inflationary pressures have kept the yield of marketable securities high, maintaining an overall implicit interest rate of around six percent, which is expected to stay consistent over the medium term. To address the projected fiscal deficits of Tk 2,792.3 billion in 2024-25 and Tk 3,170.7 billion in 2025-26, the government plans to secure Tk 1,200.3 billion from external sources in the next fiscal and Tk 1,306.4 billion in 2025-26, along with Tk 1,677.7 billion and Tk 1,864.4 billion from domestic sources, respectively.