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 20, 2021

BB sets rules for banks to disburse Tk 500cr fund for start-ups

Bangladesh Bank yesterday set eligibility requirements for banks to disburse loans from the Tk 500 crore fund aimed at helping start-ups expand and flourish, according to a central bank circular.As per the prerequisites, all state-owned and private commercial banks or specialised banks can avail the refinancing facility.However, their classified loans cannot be more than 10 per cent.The lenders will also have to maintain regulatory requirements in the form of their cash reserve rate (CRR) and statutory liquidity ratio (SLR) with Bangladesh Bank.Besides, they must have a minimum one-year of banking experience to manage the funds, the central bank said.

On March 12, Bangladesh Bank decided to form a Tk 500 crore fund to help start-ups smoothly secure financing.As per the draft guideline, it would be disbursed through a refinance scheme, meaning that banks would first disburse loans among clients and the central bank would later reimburse the fund to banks.

Entrepreneurs aged 21 years and older will be eligible to avail a maximum of Tk one crore from the fund with the highest interest rate set at four per cent while banks will get it from the central bank at 0.50 per cent interest.The repayment tenure will be a maximum of five years.Entrepreneurs with innovative ideas will get top priority while their educational qualification, technical expertise, experience and social acceptance will be considered the same way as collateral would.

Banks will be allowed to keep lower provisioning against the loans compared to that required for regular loans.Currently, 20 per cent of a classified loan of sub-standard category has to be kept as provisioning.But lenders will be allowed to keep 5 per cent in provisioning against the start-up loans.Banks will have to keep 30 per cent provision for doubtful loans and 50 per cent for bad loans under the start-up fund whereas it is 50 per cent and 100 per cent respectively for the two types of general loans.Keeping lower provisions against the start-up fund will encourage banks to disburse loans to new entrepreneurs, the central bank said.

Source: https://www.thedailystar.net/business/news/bb-sets-rules-banks-disburse-tk-500cr-fund-start-ups-2080349

Local and Global Stock Indices *

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DJIA$ 34,077.63
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World Commodities *

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Gold Spot$ 1,773.20↑2.60↑0.15%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 84.8000
GBP 1BDT 117.3038
EUR 1BDT 101.6498





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,

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Managing Director & CEO
Dhaka Bank Limited