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 14, 2022

Bangladesh seeks Saudi support to meet energy demand

State Minister for foreign affairs Md Shahriar Alam has said Bangladesh needs “brotherly support” from Saudi Arabia to fulfil its energy demands amid the global oil crisis due to the Russia-Ukraine war. He made the remark while Saudi Arabian Ambassador to Bangladesh Essa Yousef Essa Al Duhailan paid a courtesy call on him at the foreign ministry here on Monday, a foreign ministry press release said.In reply, the envoy assured that he would take up the oil supply issue with the concerned Saudi stakeholders, reports BSS.During the meeting, the Ambassador expressed satisfaction at the state of excellent bilateral relations between Bangladesh and Saudi Arabia which is growing rapidly in various fields including political, economic, defence, manpower, business, trade and investment.The envoy apprised the State Minister about the follow-up of the visit by the Saudi Deputy Interior Minister to Dhaka in last November 2022.He also updated him about the increasing engagement of Saudi investors in various fields including potential Saudi investment in the EEZ earmarked for Saudi Arabia.

Source: https://thefinancialexpress.com.bd/economy/bangladesh-seeks-saudi-support-to-meet-energy-demand-1670928235

Short-term foreign loans allowed for import

Businesses will be able to import eight essential items centring upcoming Ramadan by taking short-term loans from foreign sources, said Bangladesh Bank yesterday. This facility for edible oil, chickpea, pulse, pea, onion, spices, sugar and date will remain applicable till March 2023, according to a central bank notice.Importers will have to settle the letters of credit (LCs) within 90 days under supplier’s and buyer’s credit.Buyer’s credit refers to finance for payment of imports arranged by the importer or buyer from a bank or financial institution outside of Bangladesh.Supplier’s credit refers to credit extended for imports directly by the overseas supplier instead of a bank or financial institution.A BB official said a majority of banks have been facing a shortage of dollars in recent months, which was why they were showing reluctance to open LCs for import, and the new facility would give respite to banks.Earlier this week, the central bank asked banks to take a minimum cash advance, known as LC margin, from importers while opening LCs for the commodities in order to keep their prices at a tolerable level during Ramadan and ensure smooth supplies.

Source: https://thefinancialexpress.com.bd/economy/uae-keen-to-increase-engagement-with-bangladesh-1670838154

High cost of living takes a toll on bank deposits

The deposit growth in banks of Bangladesh has slowed as many people saw their capacity to save dwindle amid the higher cost of living.The deposit situation has aggravated further as a section of savers preferred to invest in alternative areas, namely property after they became frustrated by a very low-interest rate offered by banks and the withdrawal of savings by a section of people to cope with elevated inflation.The development is said to limit banks’ capacity to lend and do business.Data released by the Bangladesh Bank showed that total deposits of the scheduled banks increased 8 per cent year-on-year to Tk 157,63,70 crore during the July-September quarter of 2022, the lowest deposit growth in five years.On a quarter-to-quarter basis, overall deposits ticked up only 0.16 per cent in the third quarter of 2022 from Tk 15,73,823 crore in April-June, according to the Quarterly Scheduled Bank Statistics released by the BB on Monday.

Source: https://www.thedailystar.net/business/economy/news/high-cost-living-takes-toll-bank-deposits-3195441

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
↑103.60 ↑0.30%
FTSE100$7,502.89 ↑56.92↑0.76%
Nikkei 225$28,160.35 ↑205.50↑0.74%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$75.23 ↓ 0.16 ↓ 0.21%
Crude Oil (Brent)$80.45 ↓0.23↓ 0.29%
Gold Spot$1,809.67↓1.13↓0.06%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 104.6500
BDT 107.5000

*World Commodities & Local and Global Stock Indices data are taken from bloomberg.com<

* Exchange Rates are taken from BB website, as on latest update.<




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