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 24, 2021

BB relaxes credit rating rules amid pandemic

The central bank has relaxed the requirements of Internal Credit Risk Rating System (ICRRS) to help businesses avail credit facilities from the banks amid the Covid-19 pandemic. The ceiling of marginal internal credit risk rating score has been brought down to 55 per cent from 60 per cent earlier, according to a notification, issued by the Bangladesh Bank (BB), on Tuesday. It said the BB relaxed the rules considering the adverse impact of the pandemic on the country’s overall business activities. Besides, the banks are allowed to calculate the rating score for 2021 on the basis of any one audited balance sheets for 2019 and 2020. In case of fiscal year, the banks may consider June 30, 2019 or June 30, 2020 for assessing the score while December 31, 2019 or December 31, 2020 would be applicable for the same purpose on the basis of calendar year, the officials explained. The ICRRS refers to the system to analyse a borrower’s repayment ability based on information about a customer’s financial condition, including their liquidity, cash flow, profitability, debt profile, market indicators, industry and operational background, management capabilities and other indicators.

Source: https://today.thefinancialexpress.com.bd/first-page/bb-relaxes-credit-rating-rules-amid-pandemic-1614103075

DSE key index dips to two-month low

Stocks nosedived for the fifth straight session on Tuesday. Meanwhile, the core index of the Dhaka Stock Exchange (DSE) dipped to two-month low. DSEX, the prime index of the DSE, went down further by 67.49 points or 1.25 per cent to settle at 5,317, which was two months lowest level since December 24, last year. The benchmark index lost more than 226 points in the past five consecutive sessions. Market analysts said the shaky investors continued their sell-offs in major stocks as a lack of positive triggers prevented investors from making fresh investment. The market remained under pressure in the past few weeks along with sluggish turnover as investors stayed cautious ahead of dividend declaration by December-end companies. Business conglomerate Beximco Group companies continued to face selling pressure as Beximco lost 7.82 per cent, heavyweight drug maker Beximco Pharma 4.48 per cent and Shinepukur Ceramic lost 5.24 per cent. All three featured in the day’s top loser’s list. Robi, which faced massive sell pressure in the past few days after no dividend declaration, rebounded in gaining streak on Tuesday with 3.80 per cent rise. The equity market impeded under selling pressure as investors’ appetite remained subdued amid a bearish sentiment, commented EBL Securities. Two other indices also kept losing with the DSE 30 Index comprising blue chips, lost 39.83 points to finish at 2,017 and the DSE Shariah Index (DSES) dropped 15.31 points to close at 1,206. Turnover, a crucial indicator of the market, stood at Tk 5.91 billion on the country’s premier bourse, rising by 26 per cent over the previous day’s seven-month lowest turnover of Tk 4.67 billion. Among the major sectors, miscellaneous faced the highest hit, losing 4.0 per cent, followed by pharma with 1.6 per cent, engineering 1.3 per cent, food 1.2 per cent, financial institutions 0.80 per cent and banking 0.40 per cent. On the other hand, IT, telecom and power sectors gained 1.10 per cent, 0.40 per cent and 0.10 per cent respectively. Of the 339 issues traded, 156 declined, 66 advanced and 117 remained unchanged on the DSE trading floor. Beximco continued to dominate the turnover chart with shares worth over Tk 1.84 billion changing hands followed by BATBC, Beximco Pharma, LankaBangla Finance and Robi. GBB Power was the day’s best performer, posting a gain of 5.53 per cent while NCC Bank Mutual Find-1 was the worst loser, losing 10 per cent following its price adjustment after record date. The Chittagong Stock Exchange (CSE) also kept losing with the CSE All Share Price Index – CASPI -shedding 181 points to settle at 15,383 and the Selective Categories Index – CSCX losing 110 points to close at 9,278.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/dse-key-index-dips-to-two-month-low-1614095698

Chairman of BHBFC reappointed

Professor Dr. Md. Salim Uddin FCA, FCMA has been reappointed Director and Chairman of Bangladesh House Building Finance Corporation (BHBFC), according to a notification of finance ministry on Tuesday. He has been discharging duty as Chairman of Executive Committee of Islami Bank Bangladesh Limited. Before joining BHBFC as Chairman he was an Independent Director of Chittagong Stock Exchange. He was also an Independent Director of Premier Bank Ltd and Director of Rupali Investment Ltd. He was also a Director of Rupali Bank Ltd- a nationalized commercial bank.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/chairman-of-bhbfc-reappointed-1614095883

Spotify set to come to Bangladesh

Streaming platform Spotify has announced that it is going to launch its operations in Bangladesh as it embarked on a sweeping expansion to add more than 80 new markets and bring the service to over a billion extra people. The announcement came during a live-streaming event attended by Spotify Founder and CEO Daniel Ek. Last year, Spotify opened verified pages dedicated to Bangladesh, indicating the official launch was imminent. The Swedish company, which started its service in 2008, is currently the world’s most popular audio-streaming subscription service with 345 million users, including 155 million subscribers, across 93 markets. As part of the ongoing commitment to building a truly borderless audio ecosystem— connecting creators, listeners, and content—Spotify is embarking on a sweeping expansion, the company said on its website. Because of Spotify, Bangladesh will become another market for foreign language songs. Despite its enormous popularity, Spotify has long faced criticism over streaming royalties, which many musicians say are inadequate, according to BBC News. Spotify has been reluctant to raise its subscription prices because of increased competition, so increasing revenues will depend on new subscribers or different types of content, said Andrew Milroy, director of technology advisory firm Veqtor8.

Source: https://www.thedailystar.net/business/news/spotify-set-come-bangladesh-2050141

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 31,537.35
↑ 15.66↑ 0.05 %
FTSE100$ 6,625.94↑ 13.70 ↑ 0.21 %
Nikkei 225$ 29,923.82↓ 232.21↓ 0.77 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 61.10 ↓ 0.57↓ 0.92 %
Crude Oil (Brent)$ 65.01↓ 0.36↓ 0.55 %
Gold Spot$ 1,810.32↑ 4.59↑ 0.25 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 84.8000
GBP 1BDT 119.2882
EUR 1BDT 103.0998





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