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

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

Daily Business News Flash April 09, 2023

Bangladesh earns $17m from carbon credits, just the tip of the iceberg

Bangladesh earned its first-ever revenue from carbon credits – permits that allow the owner to emit a certain amount of carbon dioxide or other greenhouse gases – way back in 2006, when the Infrastructure Development Company Limited (Idcol) registered its maiden clean development mechanism project with the United Nations Framework Convention on Climate Change. Since then, Idcol has sold a whopping 2.53 million carbon credits, raking in $16.25 million, equivalent to Tk170 crore at current exchange rates. Most of this impressive carbon credit revenue came from improved cook stoves, while the remaining amount was generated from solar home systems. Five brick manufacturers that adopted clean technology to halve coal consumption and produce eco-friendly bricks received nearly Tk3 crore in carbon revenue. Thanks to their use of the Hybrid Hoffman Kilns (HHK) technology between January 2018 and March 2020, these brick-makers were able to cut down carbon dioxide emissions by 65,603 tonnes. Waste Concern, an NGO based in Dhaka, works towards promoting sustainable waste management practices. Through their efforts, they established the world’s first-ever compost plant and managed to reduce 62,200 tonnes of carbon, earning Tk25.67 lakh. However, it is noteworthy that they did not sell any carbon credits after 2014.

Source: https://www.tbsnews.net/bangladesh/environment/bangladesh-earns-17m-carbon-credits-just-tip-iceberg-613410

BB’s fund injection controlling call rate

The central bank’s growing fund injection to the market through various instruments is helping to control the interbank call money rate even ahead of the Eid-ul-Fitr, when the rate normally goes up following mounting liquidity demand, officials and bankers said. The instruments are repo, liquidity support facility, Islamic banks liquidity facility (IBLF), and Mudaraba liquidity facility (MLS). As a result, the interbank call money rate on a short-term or overnight loan continued to decline to 6.01 per cent as on April 06, from a record high of 7.0 per cent on January 25. Call money rate is the weighted average interest rate on a short-term or overnight loan from one bank to another to meet an urgent requirement. The call money rate started rising sharply from March 21, 2022, when it was at 2.05 per cent. Following the Russia-Ukraine war, volatility in the forex market, and mass fund withdrawal from the banks riding on rumours of liquidity shortfall, the demand for short-term interbank loans kept rising. As a result, the call money rate hit a record high of 7.0 per cent on January 25, 2023.

Source: https://thefinancialexpress.com.bd/economy/bangladesh/bbs-fund-injection-controlling-call-rate

Brac Bank launches remittance application FXPAY

Brac Bank has launched FXPAY, an end-to-end commercial remittance application to provide accessible, fast and secure remittance services to institutional customers. FXPAY is a 360-degree commercial remittance system capable of performing business-to-business, business-to-consumer, consumer-to-business and consumer-to-consumer transactions in compliance with regulations, the bank said in a statement. The system can perform automated tax, value-added tax, encashment certificate, no objection certificate, Nostro funding checking and client intimation via email or text, the bank said. Selim RF Hussain, managing director and CEO of the bank, inaugurated the service at the bank’s head office in Dhaka.

Source: https://www.thedailystar.net/business/news/brac-bank-launches-remittance-application-fxpay-3292021

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
Nikkei 225$27,518.31↑45.68↑0.17%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$80.70↑0.09↑0.11%
Crude Oil (Brent)$85.12↑0.13↑0.15%
Gold Spot$2,007.91↓12.82↓0.63%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 106.8500
BDT 107.0000

*World Commodities & Local and Global Stock Indices data are taken from bloomberg.com<

* Exchange Rates are taken from BB website, as on latest update.<




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