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 13, 2023

Deposit-rate cap lifted

Banking industry is finally open for competitive operations with the interest-rate cap on deposits lifted, in a development that comes amid liquidity crunch and certain market distortions. Bangladesh Bank (BB) Tuesday withdrew the interest-rate cap to unshackle bankers for collecting deposits of three months and above, thus making the interest regime market-based. The central bank now did it as the interest rate on lending has already been made market-based. The BB announced this decision through a circular issued by the Banking Regulations and Policy Department (BRPD). However, the deposits in fixed accounts surged to some extent in the last quarter. It increased 4.33 per cent at the end of the quarter to September. The proportion of fixed deposits to total deposits is over 44 as of September 2023. But there is liquidity pressure on the banking industry, especially in the Sharih-based banks as they experienced certain unwarranted happenings. However, the BB in a circular issued on August 8, 2021 had said that the interest-rate limit on deposit collection was fixed.

Source: https://today.thefinancialexpress.com.bd/first-page/deposit-rate-cap-lifted-1702401927

IMF approves $689m second tranche loan for Bangladesh

The International Monetary Fund (IMF) has approved the release of $689 million in the second tranche of the $4.7 billion loan package allocated for Bangladesh. Finance Minister AHM Mustafa Kamal late last night confirmed that the approval came at the multilateral lender’s board meeting, according to Gazi Touhidul Islam, information officer of the finance ministry. Officials of the Bangladesh Bank and finance ministry expect the second instalment to be available on Wednesday. The Executive Board of the International Monetary Fund (IMF) completed the first review under the Extended Credit Facility (ECF), Extended Fund Facility (EFF) and Bangladesh’s Resilience and Sustainability Facility (RSF) arrangements for Bangladesh, allowing the authorities to withdraw the equivalent to about $468.3 million under the ECF/EFF, and about $221.5 million under the RSF.

Source: https://www.tbsnews.net/economy/imf-approves-682m-second-tranche-loan-bangladesh-756630

 Chinese firm to invest $11.55m in Bepza Economic Zone

Quality Sportswear Mfrs Ltd, a Chinese company, will invest $11.55 million to set up a garments and accessories manufacturing factory at the Bepza Economic Zone at Mirsarai in Chattogram. With an annual production target of 6.05 million pieces of garments and 0.8 million pieces of money bags, travelling bags and other accessories, the factory will create employment opportunities for 3,310 Bangladeshi workers. Bepza has approved 26 enterprises, including this one, to establish industries in the economic zone in Mirsarai, producing a host of diversified products. The total proposed investment of these enterprises is $529.4 million.

Source: https://www.thedailystar.net/business/news/chinese-firm-invest-1155m-bepza-ez-3492776

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 36,577.94
↑ 173.01↑ 0.48 %
FTSE100$ 7,542.77↓ 2.12↓ 0.03 %
Nikkei 225$ 32,960.60↑ 116.90↑ 0.36 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 68.34↓ 0.27↓ 0.39 %
Crude Oil (Brent)$ 72.97↓ 0.27↓ 0.37 %
Gold Spot$ 1,979.57↑ 0.03↑ 0.00 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 110.2500
BDT 110.2500

*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