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 August 04, 2022

BB eases rules on encashment of export proceeds

The Bangladesh Bank yesterday eased rules on the encashment of the value-added portion of repatriated export proceeds in order to bring flexibility to trade transactions. On May 29, the central bank asked banks to convert major export earnings of businesses into the taka immediately as it looks to increase the supply of US dollars in the economy. The value-added portion refers to the export proceeds that are available to exporters after their import bills for back-to-back letters of credit have been met.

Source: https://www.thedailystar.net/business/economy/banks/news/bb-eases-rules-encashment-export-proceeds-3087306

AD banks can retain value-added amount for fifteen days

All authorized dealer (AD) banks can now retain value-added portion of export proceeds in foreign currency for 15 days, as the central bank bends rules to boost Bangladesh’s forex reserves. The Bangladesh Bank (BB) Wednesday issued a notification to this effect, as the government tries all the ways of propping up the reserves by raising internal funds and borrowing from external sources. Officials say the regulator relaxed its regulation on the encashment of the value-added portion of repatriated export proceeds aiming to bring flexibility to trade transactions. The cash dollar was traded at maximum Tk 108 on the day, unchanged from the previous level, a senior currency trader said. On the other hand, the BB continues to provide its foreign-currency support to scheduled banks for managing the forex-market volatility. It sold $40 million more directly to two stated-owned commercial banks at market rate on Wednesday to help them meet a growing demand for the greenback–as global price rises have led to import-cost escalation with its resultant pressures on reserves of Bangladesh, as also of many other countries.

Source: https://today.thefinancialexpress.com.bd/first-page/ad-banks-can-retain-value-added-amount-for-fifteen-days-1659553679

Khairul Alam elected Chairman of AB Bank

The Board of Directors of AB Bank Limited has elected director Khairul Alam Choudhury as the bank’s Chairman with effect from August 02, 2022. Khairul Alam Choudhury, Barrister-at-Law, joined AB Bank as Director in 2018. He is a practicing lawyer of the Appellate Division of the Supreme Court of Bangladesh. He graduated from University of Wolver Hampton, UK in 2001. Thereafter, he obtained his post-graduation degree from the City University, UK in 2002 and was also called to the Bar from Lincoln’s Inn, London in 2002. Barrister Choudhury is involved in various social and charitable activities.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/khairul-alam-elected-chairman-of-ab-bank-1659551336

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 32,812.50
↑ 416.33↑ 1.29 %
FTSE100$ 7,445.68↑ 36.57↑ 0.49 %
Nikkei 225$ 27,901.70↑ 159.80↑ 0.58 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 91.05↑ 0.39↑ 0.43 %
Crude Oil (Brent)$ 97.08↑ 0.30↑ 0.31 %
Gold Spot$ 1,771.05↑ 5.76↑ 0.33 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 94.7000
GBP 1BDT 115.2973
EUR 1BDT 96.2910

*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