Bangladesh Central Bank

Following the change of government, the state moved to suspend the High Court's ruling and on December 2 filed the leave to appeal petition with the SC seeking stay on the High Court verdict of March

The central bank "will adopt a tight monetary policy" for the first half of the new fiscal year starting July, Governor Abdur Rouf Talukder said

Forex reserves equivalent to six months' import bills are considered adequate for a growing economy like Bangladesh

'No bank in the country was shut in 51 years since Bangladesh's independence. Hopefully, no bank in Bangladesh will be closed down in the coming days. People's deposits in banks are completely safe'

The report, "Bangladesh bank hack attack: SWIFT compromised, alarms raised" (April 26), is a grave reminder of the risks of digital banking. Carrying out banking transactions through digital channels requires only a set of log-in IDs and passwords. Even top bank executives, when they are busy, tend to let subordinates know their passwords.The remittance orders coming from the Bangladesh Central Bank were never doubted as they appeared to be usual transactions. The Federal Reserve Bank of New York (FRBN) can't be faulted since the remittances were from a country's central bank. The FRBN authorities must be complimented for blocking fraudulent transactions worth $870 million.The Bangladesh fraud is a warning to banks in India to fix their security systems. Despite the checks and counter-checks, the technical staff of banks tends to take cyber systems lightly. When a fraud is reported, the management alerts them on the possible misuse of the system, but afterwards it is back to business a

The laundering of Bangladesh's stolen money in the Philippines has added pressure on it to close loopholes in its financial system

Bangladesh's central bank , Bangladesh Bank, has hired a US lawyer for a potential lawsuit against the Federal Reserve Bank of New York after hackers stole $81 million from its account with the NY Fed, according to an internal report by the Bangladesh bank.After the report surfaced on Tuesday in the Bangladesh capital of Dhaka, US representative Carolyn Maloney called for a probe of last month's cyber attack on Bangladesh Bank. In one of the largest cyber heists in history, the hackers ordered the New York Fed to transfer $81 mn from Bangladesh central bank funds to accounts in the Philippines."This brazen heist from the Bangladesh central bank's account at the New York Fed threatens to undermine the confidence that foreign central banks have in the Federal Reserve and in the safety and soundness of international monetary transactions," Maloney, a New York Democrat, said in a statement.The US FBI is helping investigate the heist, which led to the ouster of Bangladesh's central bank gov

The move comes two days after Finance Minister Abul Maal Abdul Muhith called Bangladesh Bank's handling of the cyber theft "very incompetent"