TT-Clean: 77.1 | TK BC-Selling: 78.1
TK OD-Sight: 76.88 TK | TC-Selling: 78.1 TK

TT-Clean: 77.1 | TK BC-Selling: 78.1
TK OD-Sight: 76.88 TK | TC-Selling: 78.1 TK


TT-Clean: 77.1 | TK BC-Selling: 78.1
TK OD-Sight: 76.88 TK | TC-Selling: 78.1 TK

Click to Close

Rate last updated: 02/01/2014 11:15:04 AM

Daily Business News Flash April 01, 2021

WB now sees 5.6pc GDP growth

Bangladesh’s gross domestic product (GDP) may grow by as high as 5.6 per cent in the current fiscal year, subject to three factors, said the World Bank yesterday. This includes how the ongoing vaccination campaign fares, whether new restrictions to mobility are required, and how quickly the world economy recovers, it projected in its twice-a-year-regional update. Over the medium term, growth is projected to stabilise within a 5 to 7 per cent range as exports and consumption continue to recover. The lender’s projection was 2 per cent in January this year and 1.7 per cent in October last year. South Asia’s prospects for an economic rebound are firming up as growth is set to increase by 7.2 per cent in 2021 and 4.4 per cent in 2022, said the report. This means it will be climbing from historic lows in 2020, putting the region on a path to recovery. India, which comprises the bulk of the region’s economy, is expected to grow more than 10 per cent in fiscal 2021-22, a substantial upward revision by 4.7 percentage points from January 2021 forecasts. The outlook for Nepal and Pakistan has also been revised upward, supported by better than expected remittance inflows. Nepal’s GDP is projected to grow by 2.7 per cent in fiscal 2021-22 and recover to 5.1 per cent by 2023. Pakistan’s economy is expected to expand by 1.3 per cent in 2021, slightly above previous projections. World Bank’s new GDP growth prediction for Bangladesh is still far lower than the government’s estimate of 7.4 per cent for the current fiscal year. The lender is now estimating growth of 2.4 per cent for the last fiscal year, while the government’s provisional estimate showed the GDP had grown by 5.24 per cent. In reply to a query about such a difference, Timmer said it was indeed an indication that uncertainty was very high at the moment.

Source: https://www.thedailystar.net/business/news/wb-now-sees-56pc-gdp-growth-2070009

IDLC approves 20pc dividend for 2020

IDLC Finance yesterday approved 15 per cent cash and 5 per cent stock dividends for 2020 at its 36th annual general meeting held virtually in compliance with directives of the Bangladesh Securities and Exchange Commission. In line with Bangladesh Bank directives, the IDLC board placed a revised proposal for dividends, which shareholders approved. It had earlier recommended providing 35 per cent cash dividend.IDLC Group’s total assets increased by 8 per cent, reaching Tk 12,687 crore at the end of 2020, which led to a strong return on asset of 2.08 per cent.

Source: https://www.thedailystar.net/business/news/idlc-approves-20pc-dividend-2020-2069905

Jamuna Bank gets new DMD

Jamuna Bank has recently witnessed the appointment of a deputy managing director. The appointee, FazleQuayum, was previously serving as senior executive vice president and head of credit risk management.He started his banking career as probationary officer with AB Bank in 1982 and also worked at IPDC Finance. Quayum obtained his MBA from the Institute of Business Administration under the University of Dhaka in 1980, and subsequently from State University of New York, Binghamton in 1982, majoring in Finance.

Source: https://www.thedailystar.net/business/news/jamuna-bank-gets-new-dmd-2069917

RokiaAfzal Rahman elected chairman of Midas Financing

Rokia Afzal Rahman has recently been elected chairman of the board of directors of Midas Financing Ltd, one of the leading non-bank financial institutions in Bangladesh. She is a former adviser to a caretaker government and former director of the board of the central bank.The entrepreneur was also the president of the Metropolitan Chamber of Commerce and Industry, Dhaka and the Bangladesh Employers’ Federation. She was Bangladesh’s first female manager of a bank.

Source: https://www.thedailystar.net/business/news/rokia-elected-chairman-midas-financing-2069997

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 32,981.55
↓85.41 ↓0.26%
FTSE100$ 6,713.63↓58.49 ↓0.86%
Nikkei 225$ 29,371.27↑192.47 ↑0.66%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 59.43 ↑0.27↑0.46%
Crude Oil (Brent)$ 63.54↓0.60↓0.94%
Gold Spot$ 1,712.53↑4.82↑0.28%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 84.8050
GBP 1BDT 116.5475
EUR 1BDT 99.3745





Dear Valued Patrons,

At the very onset, let me express my heartiest gratitude for allowing us to serve you and I also wanted to reach out to you directly with an assurance that Dhaka Bank is fully equipped to support you during this difficult time.

Last couple of weeks ago we all were living in a peaceful condition, performing our daily tasks freely and perfectly. Entire economy and business environment was also in a good shape, until COVID-19 put a forceful stoppage to the overall life style and economy of the world. We all know that social distancing and cleanliness are the keys to prevent this pandemic. Hence, we urge your conscious effort to limiting public interaction and suspending wherever possible.

In this current situation, Dhaka Bank and its employees are beside you where we are fully online, either working from home or at our offices under a robust Business Continuity Plan (BCP) to serve you with limited branch banking and a full-fledged alternate delivery channel services.

Our state of the art Mobile App, Dhaka Bank GO (Click https://bit.ly/2WVfieu) and Internet Banking - Dhaka Bank Direct gives you the freedom of banking online anytime from anywhere. You can check the balance and transfer money to any designated Banks including any Dhaka Bank or bKash Account, make utility bill payments and mobile top-up through our Mobile App and Internet Banking Services. Our ATMs are also running efficiently with availability of sufficient cash for your convenience where you can make cash withdrawals whenever the need arises. Mentionable, the withdrawal of cash from any ATMs within Bangladesh with Dhaka Bank Debit Cards are absolutely free of charges up till April 30, 2020 (Dhaka Bank will bear the cost). Our corporate customers can also use our completely safe and secured online platform Dhaka Bank C-Solution for Payments, Inter Bank Fund Transfers, etc.

Moreover, to fulfill your urgent requirement, we have a limited no. of branches up and running by ensuring all kinds of precautionary and safety measures for you.

In case of extreme emergency and facing difficulties in conducting banking transactions, please let us know through our 24/7 Contact Center number 16474 (or, dial +8809678016474 for ISD/Overseas Calls). We are always with you to combat your difficulties.

As you know we are going through a critical phase and the situation is novel to all of us. We are getting lot of new information from various sources everyday about COVID-19 which will be shared at www.dhakabankltd.com.

Thank you for your trust and continued support to us. I firmly believe that jointly we will be able to combat this situation and win against all the odds.

Please stay home, stay safe and take care of yourself and family.

Best regards,

Emranul Huq
Managing Director & CEO
Dhaka Bank Limited