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 23, 2020

Remittance resurgence no cure for sickly emerging economies

Larger-than-expected money transfers from migrants overseas have provided a tonic for several sickly economies during the coronavirus crisis, but the outlook for such flows remains fraught with uncertainty even as vaccines are rolled out.

Mexico, El Salvador, Kenya, Pakistan, Bangladesh, Philippines and Sri Lanka are among those enjoying resurgent flows in recent months, helping them narrow current account gaps, stabilise currencies and meet any overseas debt payments.Such countries have led a surprise recovery in remittances in the second half of 2020, as the slowdown in flows amid the pandemic proved less severe than initially feared.

Migrants have cushioned the pandemic’s economic blow, drawing down savings to help out families back home and sending more money via official channels rather than in person, while benefiting from access to state support, including cash handouts, in host countries such as the United States.While vaccinations should help economic activity to return to normal, the risk of mounting job losses as government support unwinds mean such flows, a source of FX revenue and gross domestic product for many emerging countries, may falter in 2021.

Source: https://www.thedailystar.net/business/news/remittance-resurgence-no-cure-sickly-emerging-economies-2015817

Tk 8,000cr Islamic bond for safe water supply.

Bangladesh Bank will issue a sukuk next week, the first of its kind in Bangladesh, to raise Tk 8,000 crore for the implementation of a safe water supply project.The finance ministry is the originator of the Shariah-compliant bond, and the central bank will act as a special purpose vehicle (SPV) for the issuance of the security.A memorandum of understanding between the central bank and the finance ministry was signed yesterday on issuing the bond.

A sukuk is an Islamic financial certificate, similar to a treasury bond, which complies with Shariahlaws.The government began to implement the project titled “Safe Water Supply for the Whole Country” on January 1. The fund raised by the sukuk will be invested in the project.The overall cost of the project is estimated at Tk 8,851 crore, of which Tk 851 crore will be provided by the government, according to a prospectus prepared by both the central bank and the finance ministry. The Department of Public Health Engineering (DPHE) will implement the project by June 30, 2025.

Investors will receive a profit of 4.69 per cent on their aggregate investment in the Islamic bond. The central bank has fixed the rate based on the Bangladesh Government Islamic Investment Bond (BGIIB).The last declared profit-sharing ratio of the six-month BGIIB is 3.69 per cent, and the central bank has added 1 percentage point to settle on the rate for the sukuk. Profits will be paid to investors on a half-yearly basis.A client will have to invest a minimum of Tk 10,000 in the security, and there is no upper limit. Banks, corporate institutions and individuals will be permitted to invest.The central bank will hold an auction next week when Tk 4,000 crore will be mobilised through the sale of the certificates. If the bidding amount surpasses the targeted fund, the auction committee will allocate the certificates proportionately among the bidders.The central bank will raise the rest Tk 4,000 crore in May.

Source: https://www.thedailystar.net/business/news/tk-8000cr-islamic-bond-safe-water-supply-2015849

Southeast Bank launches payroll banking services

Southeast Bank Limited launched a new payroll banking services named “Beton Card and Beton Plus Card” for corporate clients on Tuesday. In presence of M. Kamal Hossain, Managing Director of Southeast Bank Limited, Mustafa-E-Zaman, Managing Director of Marma Composite Ltd, officially inaugurated “Beton Card and Beton Plus Card”, said a statement.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/southeast-bank-launches-payroll-banking-services-1608651485

The Annual Risk Conference-2020 of Trust Bank Limited was held on Tuesday on a digital platform at Trust Bank Head office

The Annual Risk Conference-2020 of Trust Bank Limited was held on Tuesday on a digital platform at Trust Bank Head office. Faruq Mainuddin, Managing Director & CEO, HumairaAzam, AMD & CRO, and Ahsan Zaman Chowdhury, DMD & CBO, were also present at the conference.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/the-annual-risk-conference-2020-of-trust-bank-limited-was-held-on-tuesday-on-a-digital-platform-at-trust-bank-head-office-1608652253

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 30,015.51
FTSE100$ 6,458.16↑36.84↑0.57%
Nikkei 225$ 26,470.94↑34.55 ↑0.13%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 46.31 ↓0.71↓1.51%
Crude Oil (Brent)$ 49.34↓0.74↓1.48%
Gold Spot$ 1865.38↑4.54↑0.24%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 84.8000
GBP 1BDT 114.2426
EUR 1BDT 103.8461
INR 1BDT 1.1524





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