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 February 13, 2023

Private sector’s foreign debt down by over $1b

The private sector’s foreign debt decreased by 4.3 per cent, or more than $1 billion, in the second quarter of the current fiscal year following Bangladesh Bank’s strict measures to control imports. By the end of December 2022, the country’s total private sector foreign debt amounted to $24.1 billion while it was $25.4 billion earlier in September. The private sector foreign debt saw a gradual increase in each quarter since December 2020 and stood at $25.95 billion in June 2022. Following the start of the Russia-Ukraine war in February last year, prices of various products increased. As a result, Bangladesh’s import costs rose, which put pressure on the country’s foreign currency reserve. mid this, the central bank imposed various restrictions on the import of non-essential products in May last year. Of the total private sector foreign debt, short term buyers’ credit decreased by $626 million and stood at $9.56 billion in December last year while it was $10.19 billion in September.

Source: https://www.thedailystar.net/business/economy/news/private-sectors-foreign-debt-down-over-1b-3246241

BB plans 75pc cashless transaction by 2027

Bangladesh Bank (BB) governor Abdur Rouf Talukder on Sunday said the central bank will take various measures to make 75 per cent of the country’s overall transaction cashless by 2027. The governor termed cashless transactions a key advancement that would largely contribute to the growth of economic activities in the coming days in the era of highly digitilised world. “We’re taking steps to promote cashless transaction here. More efforts will be made in coming days because we want to reach the target of making 75 per cent of the transactions cashless by 2027,” the BB governor shared the plan while speaking at a Memorandum of Under-standing (MoU) signing ceremony with Bangladesh Investment Development Authority (BIDA) at BB headquarters, BB sources said. Alongside the BB, BIDA signed the agreement with three conventional banks — Agrani Bank Limited, Commercial Bank of Ceylon PLC and Mutual Trust Bank Limited — during the signing ceremony. Under the deals, a total of 12 services will be added gradually to the BIDA-operated OSS (one stop service) portal. The central bank governor said many services like fund disbursement of free finance and refinance of other banks with the Bangladesh Bank have been brought under Real-Time Gross Settlement (RTGS).

Source: https://thefinancialexpress.com.bd/economy/bb-plans-75pc-cashless-transaction-by-2027-1676258006

BAB, BIA place budget proposals

Bangladesh Association of Banks (BAB) has placed a set of proposals to the National Board of Revenue (NBR) for inclusion in the fiscal budget 2023-24. The proposals include requests to permit 1.0-per cent loan-loss provision and CSR activities as “allowable expenditure” in the next fiscal layout. The association of private sector commercial banks also proposed restructuring of the existing individual tax rates, by dividing the rates into five slabs from Tk 0.5 million to Tk 3.5 million and above. “Banks spend a lot of money to recover bad loans including legal battle, sometimes it incurs more than 1 per cent and it takes from our profit, so please consider this as allowable expenditure,” said Nizam Chowdhury, Chairman of NRB Global Bank Ltd, at a pre-budget consultation meeting at the NBR head office in the city on Sunday.

Source: https://thefinancialexpress.com.bd/economy/bab-bia-place-budget-proposals-1676254772

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 33,869.27
↑ 169.39↑ 0.50%
FTSE100$ 7,882.45 ↓ 28.70 ↓ 0.36%
Nikkei 225$ 27,388.89↓ 282.09↓ 1.02%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$78.79 ↓ 0.93↓ 1.17%
Crude Oil (Brent)$85.48↓ 0.91↓ 1.05%
Gold Spot$1,858.98↓ 6.59↓ 0.35%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 106.6500
BDT 107.0000

*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