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 07, 2022

Bangladesh signs $200m loan deal with ADB to strengthen microfinance

The government of Bangladesh and the Asian Development Bank (ADB) on Tuesday signed an agreement for $200 million in loans to strengthen microfinance in Bangladesh.The deal would also support microenterprises, particularly those owned by women and those located in regions with high climate risks.Economic Relations Division (ERD) Secretary Sharifa Khan and ADB’s Country Director EdimonGinting signed the agreement on behalf of their respective sides, according to BSS.The Microenterprise Financing and Credit Enhancement Project will increase the liquidity of microfinance institutions (MFIs), which are key lenders to microenterprises, by channeling funds through Palli Karma Sahayak Foundation (PKSF), said an ADB press release.PKSF is a state-owned microfinance and development organization that on lends to partner MFIs

Source: https://thefinancialexpress.com.bd/economy/bangladesh-signs-200m-loan-deal-with-adb-to-strengthen-microfinance-1670324453

Monetary policy to be formulated twice a year: BB

Bangladesh Bank (BB) has again decided to formulate monetary policy twice a year as per the advice of the International Monetary Fund (IMF).The central bank in a meeting with economists yesterday took the decision. As part of this, the monetary policy will start formulation for the second half of the current fiscal year in January next year, Bangladesh Bank’s Chief Economist Habibur Rahman told UNB today. “We have discussed various aspects of macroeconomics, including money supply, reserve currency, and interest rates, with all stakeholders, including economists of the country. The current challenges of the economy were also discussed,” he added.As per the suggestion of the economists the central bank decided to formulate the monetary policy twice a year, he said.Monetary policy was announced twice a year since 2006. In 2019, former governor Fazle Kabir announced monetary policy formulation once a year.Accordingly, he announced the monetary policy for the fiscal year 2019-20 on July 31 of that year. The central bank announced monetary policy only once in the next financial year 2020-21 and 2021-22.IMF recently recommended announcing monetary policy four times a year as a condition of getting a $4.5 billion loan.

Source: https://www.thedailystar.net/business/economy/news/monetary-policy-be-formulated-twice-year-bb-3189206

Leather maintains healthy export growth despite global crisis

Despite the raging global economic crisis, Bangladesh’s leather and leather products sector witnessed a 17.56 per cent year-on-year growth in export earnings in the first five months of the current fiscal year on the back of orders shifting away from competitors.In July-November, exporters earned $537.50 million from the shipment of leather and leather products. It was $456.85 million during the corresponding period in the previous financial year, data from the Export Promotion Bureau (EPB) showed.The leather footwear segment fetched $328.19 million during the five-month period, up 17.55 per cent year-on-year, while leather products brought home $153.74 million, an increase of 26.89 per cent.Leather shipment was, however, down 1.61 per cent at $55.57 million.The sector suffered severely in 2020 and partly in 2021 as orders slumped for the coronavirus pandemic. But it did not take much to make a comeback.

Source: https://www.thedailystar.net/business/economy/news/leather-maintains-healthy-export-growth-despite-global-crisis-3189411

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
FTSE100$7,521.39 ↓46.15 ↓0.61%
Nikkei 225$27,705.75↓180.12↓0.65%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$74.26↑0.01↑0.01%
Crude Oil (Brent)$79.45 ↑0.10↑0.13%
Gold Spot$1,772.05 ↑1.01↑0.06%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 104.0000
BDT 104.0000

*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