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 12, 2022

BB to return to biannual monetary policy

The central bank is set to return to its semiannual monetary policy stance after three years as per a suggestion of the International Monetary Fund (IMF) but local economists say the move would not bring about any change amid the lending rate cap and multiple exchange rates. In the fiscal year of 2019-2020, the central bank moved away from a twice-a-year policy statement to an annual statement that was practised for the previous two decades. Thus, it began coming up with the policy in July alone.In November, a delegation from the IMF, during its talks with the government over the latter’s $4.5 billion loan plan, called for unveiling the monetary policy on a quarterly basis since the economic situation is changing frequently, at home and abroad.Accordingly, the Bangladesh Bank has begun its preparation and is holding discussions with stakeholders, including economic think tanks.But economists say the return to the twice-a-year monetary policy would not yield any benefit amid the 9 per cent interest rate cap on loans and the multiple exchange rates. 

Source: https://www.thedailystar.net/business/economy/news/bb-return-biannual-monetary-policy-3193741

BB relaxes LC requirements for Ramadan commodities

The central bank has asked banks to take a minimum cash advance from importers while opening letters of credit (LCs) for essential commodities as it looks to keep their prices at a tolerable level during Ramadan and ensure smooth supply.The advance payment, also known as the cash LC margin, should be kept at the minimum level depending on the bank-client relationship, said the Bangladesh Bank in a notice yesterday.The directive comes a week after the commerce ministry suggested the central bank form a crisis management cell to facilitate the opening of LCs for essential commodities imported in the run-up to Ramadan when the demand for a number of basic items surges.Importers of eight items – edible oil, gram, lentil, onion, sugar, peas, spices and dates – will be extended the import facility with a minimum LC margin.

Source: https://www.thedailystar.net/business/economy/news/bb-relaxes-lc-requirements-ramadan-commodities-3193771

Bangladesh top in global ship recycling again

Bangladesh has once again become the top ship recycling country with more than half of the world’s ships recycled here, according to a report of United Nations Conference on Trade and Development (Unctad). In the 12 months to January 2022, Bangladesh recycled 8.02 million tonnage of ships accounting for 52.4% of the world total, of which nearly 57% were oil tankers, 25% bulk carriers and 9% liquefied gas carriers, said the report titled “Review of Maritime Transport 2022” published on 29 November.At the same period of the previous year, around 54% of the world’s oil tankers, 18.4% of bulk carriers and about 5% of liquefied gas carriers were recycled in Bangladesh, reads the annual flagship report.In 2021, Bangladesh with Pakistan, India, and Türkiye, accounted for 96% of the world’s ship recycling.

Source: https://www.tbsnews.net/economy/industry/bangladesh-top-global-ship-recycling-again-541874

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
↓305.02 ↓ 0.90%
FTSE100$7,476.63 ↑4.46 ↑0.06%
Nikkei 225$27,851.83 ↓49.18↓0.18%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$71.64 ↑0.62 ↑0.87%
Crude Oil (Brent)$76.59 ↑0.49↑0.64%
Gold Spot$1,787.62 ↓9.70↓0.54%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 105.3000
BDT 105.3000

*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