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 January 05, 2021

BB relaxes payment rules for availing foreign services

Bangladesh Bank yesterday relaxed rules for businesses to remit money in order to avail services from foreign companies. Businesses will be able to send up to 1 per cent of their annual sales as declared in their previous year’s income tax return or $100,000, whichever is higher, according to a central bank notice. Previously a maximum of 1 per cent of annual sales or $100,000 could be remitted without prior approval from the central bank. However, prior permission had to be taken if that 1 per cent amounted to over $100,000 as per the previous rules of the BB. The central bank has recently taken a set of measures to relax the foreign exchange rules as part of its effort to bring ease to doing business.

Source: https://www.thedailystar.net/business/news/bb-relaxes-payment-rules-availing-foreign-services-2022621

BB asks banks to comply with order over enlistment of insurers

The central bank of Bangladesh on Monday issued two key separate circulars on enlistment of non-life private insurance firms with commercial banks by maintaining credit ratings and submission of audited financial reports by enterprises to banks while renewing loans. The Banking Regulation and Policy Department (BPRD) of the Bangladesh Bank said many banks have been violating orders relating to the enlistment of insurance firms issued sometime in 2011. The BB in its earlier circular on the enlistment of non-life firms stated that credit ratings of general insurance firms should be considered while enlisting such insurers for business purposes. The BB in its circular also asked the banks to list those non-life firms having good credit ratings. But many banks are not complying with it now. On the other hand, the BPRD in another circular asked the banks to consider audited financial reports of the enterprises while renewing loans.

Source: https://today.thefinancialexpress.com.bd/last-page/bb-asks-banks-to-comply-with-order-over-enlistment-of-insurers-1609782949

New executive chairman of BEPZA

Major General Md Nazrul Islam took over as the executive chairman of Bangladesh Export Processing Zones Authority (BEPZA) on Monday, says a press release. He replaced Major General SM Salahuddin Islam who has joined as military secretary to the president of Bangladesh recently.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/new-executive-chairman-of-bepza-1609779783

Revenue earnings from DSE soar 87pc month-on-month in December

The government revenue earnings from the Dhaka bourse almost doubled in July-December period of the current fiscal year compared to the same period of the previous fiscal as trading volume was on the rise riding on regulatory measures. Market operators attributed the rise to the growing confidence of investors. The government bagged revenue worth about Tk 1,451 million in the first half (H1) of the fiscal year (FY) 2020-21, which was Tk727 million in the same period of the previous fiscal, according to statistics available with the DSE. The DSE, on behalf of the government, collects tax as TREC holders’ commission and share sales by sponsor-directors and placement holders at the rate of 0.05 per cent and 5.0 per cent respectively and deposits the amount to the government exchequer. Of the total earnings in July-December, 2020, Tk 1,029 million came from the TREC holders’ commission, popularly known as brokerage commission, while Tk 422 million came from the share sales by sponsor-directors and placement holders, the DSE data shows. The government’s earnings from the DSE also soared 87 per cent month-on-month in December as the government earned Tk 343 million in December which was Tk 183 million in November, 2020, the data showed. The government’s revenue earnings from the DSE hit more than 10 years low to Tk 1.04 billion in the last FY 2019-20 due to bearish market trend and suspension of trading activities for more than two months due to Covid-19 outbreak. The DSE paid tax worth Tk 2.72 billion in FY 2011-12, Tk 1.27 billion in FY 2012-13, Tk 1.54 billion in FY 2013-14, Tk 1.74 billion in FY 2014-15, Tk 1.58 billion in FY 2015-16, Tk 2.46 billion in FY 2016-17, Tk 2.33 billion in FY 2017-18 and Tk 2.51 billion in FY 2018-2019 on TREC holders’ commission and share sales by sponsor-directors and placement holders.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/revenue-earnings-from-dse-soar-87pc-month-on-month-in-december-1609779384

PPPA yet to drop unviable projects

The Public-Private Partnership Authority (PPPA) is yet to drop non-progressive projects from its pipeline for a lack of initiatives by the agencies concerned. A second review meeting at PPPA office on Monday found that no agencies have taken steps to place projects to the Cabinet Committee on Economic Affairs to follow the non-listing procedure. The PPPA includes projects in its pipeline after the approval from the committee. It reviewed some 27 projects and found six projects problematic with almost no progress. Since the PPPA was formed under a 2015 law, it has been working on 77 approved projects of road transport, bridges, power, tourism and health under the PPP model. But only two health-sector development projects are in operation and six at the construction stage. But the agencies also faced setbacks after opening tenders several times and even some projects after contract signing could not be started for problems at local level. Shaibal motel of the Bangladesh Parjatan Corporation has remained stuck for years due to non-cooperation from local influential people.

Source: https://today.thefinancialexpress.com.bd/last-page/pppa-yet-to-drop-unviable-projects-1609783444

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 30,223.89
↓ 382.59↓ 1.25 %
FTSE100$ 6,571.88↑ 111.36↑ 1.72 %
Nikkei 225$ 27,202.90↓ 55.48↓ 0.20 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 47.60↓ 0.02↓ 0.04 %
Crude Oil (Brent)$ 51.03↓ 0.06↓ 0.12 %
Gold Spot$ 1,941.69↓ 1.21↓ 0.06 %





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