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 15, 2022

Govt. aims to increase money supply to 16.5pc in next two fiscals

The government has fixed a target to increase the money supply to 16.5 per cent from the existing 15.6 per cent in the next two fiscals.As per a government document, in 2022-23 fiscal, the rate of the money supply is at 15.6 per cent.For the next 2023-24 fiscal, the government has projected to increase the rate to 16 per cent and for 2024-25 fiscal it will be 16.5 per cent.Academically, the enhancement of the money supply might increase inflation. This kind of target of ‘broad money’ growth would further invite inflation in the country, reports UNB.”Broad money” – or M2 – is a calculation of the money supply that includes all components of “narrow money”, such as cash and checking deposits, and also “near money” such as savings deposits, money market securities, and other time-related deposits.M2 is a broader measure of money supply and is being closely watched as an indicator of money supply and future inflation, and as a target of central bank monetary policy.If broad money exceeds nominal GDP growth, academically, commodity prices will take another steep jump, leaving limited-income consumers and the poor to bear the brunt of the increasing squeeze on the cost of living.In the 2020-21 fiscal year the money supply was 13.6 per cent.In 2021-22 fiscal the proposed money supply rate was 13.8 per cent, but the revised rate was 15 per cent.

Source: https://thefinancialexpress.com.bd/economy/govt-aims-to-increase-money-supply-to-165pc-in-next-two-fiscals-1671012721

BSEC plans cash dividend transfer to BO accounts to spur reinvestment

The securities regulator has been thinking hard about introducing a provision that will require cash dividends to be deposited into investors’ BO (beneficiary owner’s) accounts, instead of bank accounts, so that cash is readily available for reinvestment in stocks.Increasing liquidity flow into the money market is the objective as the discussion has continued on the transfer of dividends against securities, sources said.The Bangladesh Securities and Exchange Commission (BSEC) is to make the move when the daily turnover tumbled and has stayed below Tk 10 billion for more than a month.Most of the stocks have been stagnant at the floor prices, with selling pressure much higher than buy orders as investors wait for further price corrections.Therefore, those who would like to sell some assets to buy new securities are unable to do so.Asked if the BSEC is considering the provision as a short- or long-term solution, Chairman ShibliRubayat Ul Islam said, “We are reviewing the options” but it is highly likely to stay for long.

Source: https://thefinancialexpress.com.bd/stock/bsec-plans-cash-dividend-transfer-to-bo-accounts-to-spur-reinvestment-1671073191

Bepza moves to stop use of fake import permits

Bangladesh Export Processing Zones Authority (Bepza) has taken a number of steps, including connecting to customs management software, to prevent the use of fake import permits following the detection of such malpractices this year. Import permits are issued by Bepza against every import of listed export-oriented companies for the lifting of duties.Earlier, customs officials had to log in to the Bepza website every time they had to check the authenticity of an import permit.Moreover, companies based inside export processing zones import goods through a one stop service which get clearance through nominal scrutiny, alleged a customs official.Customs officials said a section of importers took advantage of these submitting fake import permits during rush hours.

Source: https://www.thedailystar.net/business/economy/news/bepza-moves-stop-use-fake-import-permits-3196631

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
↓142.29 ↓0.42%
FTSE100$7,495.93 ↓6.96↓0.09%
Nikkei 225$28,043.07 ↓113.14↓0.40%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$76.48 ↓ 0.80 ↓ 1.04%
Crude Oil (Brent)$82.00 ↓ 0.70 ↓ 0.85%
Gold Spot$1,791.19↓16.13↓0.89%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 102.0300
BDT 103.3000

*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