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 December 06, 2021

Govt moves to ease collateral requirements

The government is set to introduce an innovative financing model under a new law to enable small businesses and startups to show their moveable assets as collateral with a view to nurturing entrepreneurs and helping them secure loans.The law is expected to provide local technology start-ups a shot in the arm as they always find it difficult to borrow from local banks and non-bank financial institutions due to a dearth of collaterals considering the nature of their business.The government is framing the law as it wants to facilitate loans for at least 1,000 cottage, micro, small and medium enterprises (CMSMEs) and startup units by 2024.Among the initiatives, the digital credit scheme will commence in December 2022, the cluster financing scheme in September 2022, and the value chain financing in June 2023. Limited access to affordable finance is one of the most critical constraints faced by CMSMEs in Bangladesh: Only 28 per cent of the CMSMEs have bank loans.Bangladeshi start-ups have received $130 million so far this year, according to Dhaka-based consultancy firm LightCastle Partners. Of the sum, $126 million came from international sources as venture capitalists and angel investors see Bangladesh as an untapped market and with huge potential for the startups to expand.

Source: https://www.thedailystar.net/business/economy/news/govt-moves-ease-collateral-requirements-2910716

 Tk 100b govtSukuk bonds forthcoming

The government is going to issue shortly a couple of Shariah-compliant bonds, generally known as Sukuk, worth some Tk 50 billion each to finance public-sector development projects. Officials say these bonds are designed primarily as part of its effort to implement two development projects smoothly and also to help mop up excess liquidity from the country’s banking system.The bond will help draw excess money particularly from Shariah-based banks, non-banking financial institutions (NBFIs) and insurance companies for investment in an alternative way away from conventional interest-yielding tools. The central bank, as a special-purpose vehicle (SPV) for the issuance of the upcoming government securities, has already collected various sorts of information on the Sukuk from the ministry of finance (MoF).In the first phase, the government is set to raise Tk 50 billion through issuing the Sukuk bonds for implementation of the demand-based government primary school-development project. Currently, the MoF and the Bangladesh Bank (BB) are working to issue the first Sukuk bond by the end of this month, they added. A senior BB official said the government has planned to raise another Tk 50 billion for implementation of rural infrastructure-development project under the second Shariah-based bond within the current fiscal year (FY), 2021-22.Surplus liquidity grew by more than 20 per cent to Tk 2208.80 billion as on October 31, 2021 from Tk 1830.01 billion a year before, according to the central bank’s latest statistics.In FY’21, the government raised Tk 80 billion through issuing the first Sukuk for implementation of a safe water-supply project titled “Safe Water Supply for the Whole Country”.

Source: https://today.thefinancialexpress.com.bd/first-page/tk-100b-govt-sukuk-bonds-forthcoming-1638729136

Envoy Textiles to raise Tk 870m through preference shares

Envoy Textiles, an export-oriented denim manufacturer, has decided to raise Tk 870 million through issuing preference shares at par for expansion of a project. Envoy Textiles will issue 87 million shares through a private placement to the potential investors at a face value of Tk 10 each, the company said in a filing with the Dhaka Stock Exchange (DSE) on Sunday.Each share of the company, which was listed on the DSE in 2012, closed at Tk 47.80 on Sunday, losing 3.04 per cent over the previous day. Its shares traded between Tk 21.20 and Tk 53.40 in the last one year. The company has recommended 5.0 per cent final cash dividend (total 10 per cent cash dividend of the financial year ended on June 30, 2021 inclusive 5.0 per cent interim cash dividend, which has already been paid). The company has reported earnings per share (EPS) of Tk 0.21 for July-September, 2021 as against Tk 0.13 for the same quarter last year.The spinning expansion project is scheduled to be completed by July 2022, subject to a usual business and health environment condition. The company’s paid-up capital is Tk 1.67 billion, authorised capital is Tk 4.0 billion and the total number of securities is 167.73 million.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/envoy-textiles-to-raise-tk-870m-through-preference-shares-1638723646

NaserEzazBijoy elected as president of FICCI

Foreign Investors Chamber of Commerce & Industry (FICCI) has announced Naser Ezaz Bijoy as the president-electfor the period of 2022-2023. The announcement was made at FICCI’s 58th Annual General Meeting (AGM), held on Sunday. At the AGM, the chamber also declared Neil Coupland as the Vice-President-elect, along with its newly appointed Executive Committee Members. Naser Ezaz Bijoy is currently serving as Chief Executive Officer, Standard Chartered Bangladesh. He also serves on the boards of The Duke of Edinburgh’s Award Foundation Bangladesh; Metropolitan Chamber of Commerce & Industry, Dhaka; The British Business Group (BBG) among others.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/naser-ezaz-bijoy-elected-as-president-of-ficci-1638723531

Selim R.F. Hussain re-appointed MD of BRAC Bank

The Chairman and Board of Directors of BRAC Bank Ltd re-appointed the current Managing Director & CEO Selim R. F. Hussain, till March 2026. Hussain’s re-appointment has also been approved by the central bank and has been made effective from November 2021. Mr Hussain began his journey at BRAC Bank from November 2015 and has since served two three-year terms with the bank. During his six year tenor, Hussain has led BRAC Bank from mid-table to the pinnacle of the local banking industry and has firmly established BRAC Bank as a leading financial institution in Bangladesh. Hussain has an Honours degree in Accounting from Dhaka University and an MBA (major in Finance) from the same university’s Institute of Business Administration. He had worked in various roles with the two largest multi-national banks in Bangladesh, ANZ Grindlays Bank and Standard Chartered Bank, for twenty-four years, before moving to the IDLC Group in 2010. Hussain led IDLC Finance for six years before moving to BRAC Bank in 2015.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/selim-rf-hussain-re-appointed-md-of-brac-bank-1638723562

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 34,580.08
FTSE100$ 7,122.32↓6.89↓0.10 %
Nikkei 225$ 27,909.45↓120.12↓0.43%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 67.69↑1.43↑2.16%
Crude Oil (Brent)$ 71.29↑1.41↑2.02%
Gold Spot$ 1,783.92↑0.63↑0.04 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 85.8000
GBP 1BDT 113.5563
EUR 1BDT 97.0999





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