10-year loan rescheduling facility for ship-builders
Loans, leases and investments extended by non-bank financial institutions (NBFIs) to ship manufacturers could be rescheduled for up to 10 years as the central bank took the initiative to help beleaguered borrowers resume making installments. Revenue flows to ship-builders, catering to both local and international markets, have been affected for various reasons that are not within their control. As a result, they are failing to pay installments regularly, the central bank said in a notice yesterday. Under the circumstances, simplifying the repayment process for the affected borrowers is required in a bid to recover long-pending unrepaid loans and reduce the level of classified loans. NBFIs have been asked to create two separate accounts — one for outstanding principal amount and the other for outstanding interest amount – on the basis of the dues payable as of June 30 this year. As of 2022, ship-builders owed Tk 513 crore to the NBFI sector, which accounted for 1.62 percent of the industry’s total loans disbursed, according to the Bangladesh Bank Stability Report 2022.
Dhaka Bank stands by farmers in Jhenaidah
Dhaka Bank Ltd recently distributed improved seeds and agrichemicals, including fertilisers and pesticides, among 500 marginal farmers of Shailkupa upazila of Jhenaidah district as part of its corporate social responsibility programmes. Emranul Huq, managing director and CEO of the bank, and Mohammad Hedayet Ullah, managing director of Syngenta Bangladesh Ltd, were present as special guests. Among others, Md Mostaque Ahmed and Sheikh Abdul Bakir, deputy managing directors of the bank, Md Katebur Rahman, head of agriculture division, along with Md Abul Hasnat, Shailkupa upazila agriculture officer, and other officials of the bank were also present.
Private inland container depots handle imports worth $54b at Chattogram port annually
Private inland container depots (ICDs) at the Chattogram port are contributing to the country’s economy by annually handling export cargoes worth $54 billions, 25% of total imports transported in containers and also a large volume of empty containers at the port. Currently, the capacity of 19 private container depots at Chattogram port is around 76,000 twenty-foot equivalent units (TEUs), which is expected to reach 88,000 TEUs, once two more new depots are operational in 2024.
Local and Global Stock Indices *
|Index Name||Close Value||Value Change||Percentage Change|
|↑ 25.83||↑ 0.07 %|
|FTSE100||$ 7,262.43||↓ 47.78 ||↓ 0.65 %|
|Nikkei 225||$ 31,669.53||↑ 218.77||↑ 0.70 %|
World Commodities *
|Commodity||Close Value||Value Change||Percentage Change|
|Crude Oil (WTI)||$ 81.90||↑ 0.65 ||↑ 0.80 %|
|Crude Oil (Brent)||$ 85.36||↑ 0.56||↑ 0.66 %|
|Gold Spot||$ 1,893.06||↑ 3.75||↑ 0.20 %|
Major Currencies Exchange Rates Movement in Last Seven Days *
|USD 1||BDT 109.4500||BDT 109.5000|
*World Commodities & Local and Global Stock Indices data are taken from bloomberg.com<
* Exchange Rates are taken from BB website, as on latest update.<