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 5, 2023

Dhaka Bank received ”Excellence in Mastercard Business (Innovation) 2022-23′ award

Mr. Emranul Huq, managing director & CEO of Dhaka Bank limited, received the ”Excellence in Mastercard Business (Innovation) 2022-23′ award at a ceremony recently held at Radisson Blu, Dhaka. The award ceremony was graced by Dr. Atiur Rahman, former governor of the Bangladesh Bank, and Helen LaFave, Charge D’Affairs at the US Embassy in Dhaka, among others. The Mastercard Excellence Award recognises partners across categories for their contribution to innovation and success in driving business growth.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/dhaka-bank-received-excellence-in-mastercard-business-innovation-2022-23-award-1701708803

Mattress money drops significantly

The volume of mattress money or currency outside banks plummeted significantly in the first four months of the current fiscal year as a much-needed respite to credit-starved lenders, according to bankers. Deposits worth over Tk 460 billion, which flew out of the banking system because of trust deficit amid some large-scale debt anomalies, returned into bank vaults in July-October 2023, riding on higher interest rates. Data available with the central bank revealed that the volume of currency outside banks stood at Tk 2.46 trillion at the end of October 2023. The deposit outflow from banks kept rising since September 2022 following reports of gross irregularities in some commercial banks. The amount rose to a record high of Tk 2.92 trillion in June 2023. As a result, the volume of deposit outflow from banks keeps declining with figures reaching Tk 2.66 trillion in July, Tk 2.58 trillion in August and Tk 2.53 trillion in September. Dhaka Bank managing director and CEO Emranul Huq said currency outside banks increased largely for trust deficit following debt anomalies in some shariah-based banks. Even depositors, driven by fears of losing their money, withdrew funds not only from the unconventional banks but also from banks having poor ratings, he cited. Good news is depositors have started returning to the banking system as they have started believing that banks are the safest place for investment as no bank fails to return funds on demand till today.

Source: https://today.thefinancialexpress.com.bd/last-page/mattress-money-drops-significantly-1701711844

Chinese company to invest $89m to set up first composite factory in Mongla EPZ

Chinese company Yun Sheng BD Co Ltd is going to establish a composite (textile, garments and accessories) factory in Mongla Export Processing Zone (Mongla EPZ). This would be the first such kind of factory in Mongla EPZ. The company will invest $89 million to produce fabrics, garments and garments accessories items. It would be the highest amount of proposed investment ever from a single company that signed agreements to establish factories in Mongla EPZ.  An agreement was signed between Bangladesh Export Processing Zones Authority (BEPZA) and Yun Sheng BD Co Ltd to this effect at BEPZA Complex in Dhaka on Monday (4 December).

Source: https://www.tbsnews.net/economy/chinese-company-invest-89m-set-first-composite-factory-mongla-epz-751566

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 36,204.44
↓ 41.06↓ 0.11 %
FTSE100$ 7,512.96↓ 16.39↓ 0.22 %
Nikkei 225$ 32,853.28↓ 377.99↓ 1.14 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 73.07↑ 0.03 ↑ 0.04 %
Crude Oil (Brent)$ 77.99 ↓ 0.04↓ 0.05 %
Gold Spot$ 2,037.04↑ 7.62↑ 0.38 %

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