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 12, 2023

Banks allowed to open FC accounts for shipping cos, airlines

The Bangladesh Bank on Tuesday allowed banks to open foreign currency accounts in the names of shipping companies, airlines and freight forwarders to support their global operations. The BB issued a circular in this regard on the day. The decision came amid the growing trend of global operations by Bangladeshi shipping companies and airlines, according to the notice. So, authorised dealers are allowed to open FC accounts in the names of such companies with global operations, it said. Up to 75 per cent of the inward remittances received by these companies can be kept as deposits in FC accounts, with the remaining amount to be encashed in the local currency. The BB also allowed outward remittances from these FC accounts, which can be disbursed in connection with the management of ships or aircraft. In addition, banks are also permitted to open FC accounts in the names of Bangladeshi shipping companies and airlines renting ships, containers or aircraft to operators abroad. In such accounts, 50 per cent of the inward remittances can be credited, while the rest must be encashed. The balances held in these accounts can be used to meet bonafide expenditures abroad related to the respective ships, containers, or aircraft, the notice said.

Source: https://www.newagebd.net/article/199215/banks-allowed-to-open-fc-accounts-for-shipping-cos-airlines

Bangladesh’s GDP to grow at 5.5% this year, 6.5% next year: IMF

The International Monetary Fund has kept Bangladesh’s gross domestic product growth forecast for the current fiscal year (FY23) unchanged at 5.5%, lower than the government’s target of 6.5%. Yet, Bangladesh is expected to remain one of the fastest-growing economies globally, with only seven countries projected to grow at a higher rate, the global lender says in its latest outlook. Earlier in January this year, the IMF set Bangladesh’s growth forecast at 5.5%. The IMF’s projection is slightly higher than that of the World Bank and the Asian Development Bank, which predicted 5.2% and 5.3% growth respectively for Bangladesh in the current fiscal. In the latest version of its World Economic Outlook released on Tuesday, the IMF said Bangladesh’s GDP will grow at 6.5% in the next fiscal (FY24). The Washington-based lending agency forecasts inflation may stand at 8.6% for the current fiscal year, down from its January projection at 8.9%. It expects Bangladesh’s inflation to cool down to 6.5% next fiscal year.

Source: https://www.tbsnews.net/economy/imf-keeps-bangladeshs-gdp-growth-forecast-unchanged-55-fy23-614918

Women’s domestic work to be added to GDP from next FY

The government will include women’s household work in its GDP calculation from the next financial year and an action plan in this regard will be prepared very soon, said Planning Minister MA Mannan on Tuesday. “The prime minister has stressed the importance of including the value of women’s domestic work, which has traditionally been undervalued, in the calculation of GDP. She had previously instructed the Executive Committee of the National Economic Council [Ecnec] on 4 March to take action in this regard,” he told reporters at a press conference after an Ecnec meeting. The minister said the prime minister has defined women’s domestic work as a job that involves no fixed working hours, no breaks, no vacations, no wages, and no retirement benefits. State Minister for Planning Shamsul Alam said the calculation of GDP in our country follows the international model, using the national system of accounts of the United Nations Statistical Commission. Although this system is used worldwide, it does not account for the value of women’s household work. “Women’s household work is not valued financially even though it is productive work. This is because it is not exchanged in the market. If there is no market exchange, its value cannot be calculated.”

Source: https://www.tbsnews.net/economy/womens-domestic-work-be-added-gdp-next-fy-615054

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
Nikkei 225$28,101.50↑178.13↑0.64%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$81.53↑0.00↑0.00%
Crude Oil (Brent)$85.63↑0.02↑0.02%
Gold Spot$2,018.59↑14.97 ↑0.75%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 106.9500
BDT 107.3500

*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