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

Click to Close

Rate last updated: 02/01/2014 11:15:04 AM

Daily Business News Flash February 23, 2023

BB doubles limit for inward remittances sans declaration

In order to facilitate inward remittances, the Bangladesh Bank has increased the limit for Bangladeshi nationals to bring in their service income without declaration from $10,000 to $20,000. This means Bangladeshi nationals working abroad can now send up to $20,000 or its equivalent without requiring a declaration, according to a central bank circular issued on Wednesday. Md Mezbaul Haque, the spokesperson for the central bank, explained that the new policy will benefit various professionals, including freelancers, IT service providers, scholars, consultants, and researchers who earn money from abroad. Mezbaul, also an executive director of the Bangladesh Bank, commented that the central bank has taken this step to increase foreign currency inflows. Md Shaheen Iqbal, deputy managing director and the head of Treasury and Financial Institutions at Brac Bank, told TBS, “As a result of the central bank’s new policy, freelancers and those who earn remittances through service exports will benefit. I think it will have a positive impact on inward remittances.”

Source: https://www.tbsnews.net/economy/declaration-no-longer-necessary-repatriation-20000-service-sector-income-bangladesh-bank

IT export surges despite global economic crisis

Information technology exports from Bangladesh shot up 36 per cent in the first half of the current financial year, beating expectations of industry players as the local IT industry showed resilience against the global economic turmoil. IT companies brought home $282.77 million in the July-December period of 2022-23, up from $208.09 million in the identical half of 2021-22, data from the Export Promotion Bureau (EPB) showed. The higher earnings were driven by the shipment of computer data-processing and hosting services, which cover most business process outsourcing and IT-enabled services. The shipment of computer data processing and hosting services rose to $233.55 million in the six months to December from $154.82 million a year earlier. Local entrepreneurs are receiving a good number of outsourcing orders for back-office operations, image processing, graphic design, animation, data entry, accounting and legal process outsourcing, and data analytics, according to industry people. IT export growth has been phenomenal since the middle of last year after businesses around the world reopened following the improvement in the Covid-19 situation. In the last financial year, IT exports from Bangladesh crossed a major mark after local firms and freelancers earned more than half a billion US dollars for the first time. Local IT companies saw their export earnings shoot up 95 per cent year-on-year to $592.06 million in FY22.

Source: https://www.thedailystar.net/business/economy/news/it-export-surges-despite-global-economic-crisis-3255011

Indian businesses keen to invest in economic zones

Business leaders of the Bengal Chamber of Commerce and Industry (BCCI) of Kolkata in India have expressed their interest in investing in Bangladesh’s economic zones in various sectors including manufacturing and engineering, power and information technology (IT), a release said. A 20-member BCCI delegation is now in Bangladesh on a 5-day visit to explore investment areas here. Other areas in which Indian businesses showed interest to invest are–  information technology enabled services (ITES), education and skill development, shipping and logistics and agriculture.

Source: https://www.tbsnews.net/economy/indian-businesses-keen-invest-economic-zones-588038

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
↓84.50↓2.06 %
FTSE100$7,930.63 ↓47.12 ↓0.59%
Nikkei 225$27,104.32↓368.78↓1.34%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$74.29↑0.34↑0.46%
Crude Oil (Brent)$80.89↑0.29↑0.36%
Gold Spot$1,829.45↑4.06↑0.22%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 104.4900
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