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 09, 2023

Formalities eased for opening NRBs’ taka accounts

The central bank has simplified formalities for the opening non-resident investor’s taka accounts (NITAs). In Bangladesh, the Guidelines for Foreign Exchange Transactions-2018 dictate the procedural modalities of NITAs. In addition, the central bank, in 2021, published the account-opening form while the Bangladesh Financial Intelligence Unit earlier provided the guidance for the prevention of money laundering, terrorist financing and proliferation financing, including know your customer procedure and account-opening by non-resident Bangladeshis (NRBs). Commercial banks are using different sets of documents for opening NITAs that may create ambiguity among the applicants, said the BB in a notice yesterday. In order to bring uniformity in the opening of NITAs, banks have been advised to obtain the applicant’s valid passport copy, photograph, proof of address, reliable source of income, and the copy of the nominee or authorised person’s passport or national identification card, and the photograph. Banks have been directed to fix and distribute a unified set of documents to their branches at home and abroad to facilitate the opening of NITAs.

Source: https://www.thedailystar.net/business/economy/news/formalities-eased-opening-nrbs-taka-accounts-3215881

Interest rate caps to continue

Bangladesh Bank (BB) governor Abdur Rouf Talukder has hinted at the continuation of the interest-rate caps on term and working-capital loans, at least, for the next six months. “This is not the time to change the rate caps. We might review it later”, Mr Talukder told the Monetary Policy Consultation Meeting held at a local hotel on Saturday evening. The central bank governor issued the hint when senior economists, bankers and business leaders, who were present at the meeting, expressed opposing views on the interest caps. Economists and bankers wanted the rate caps to go while business leaders suggested its continuation for some more time. The BB governor in his summing-up speech dismissed the allegation of a section of businesses facing problems with opening letters of credit and said the central bank was in no way controlling LC opening. “What we are concerned about is over-invoicing and under-invoicing. We won’t tolerate such evil practices,” he said. The BB governor said there is no restriction on the opening of LCs for capital-machinery imports either. On the alleged ‘helplessness’ of the central bank to deal with large and influential bank loan defaulters, Mr Talukder said efforts are on to bring about a change in the non-performing loan situation. “We have already asked some banks to stop lending to this class of borrowers”, he said.

Source: https://thefinancialexpress.com.bd/economy/interest-rate-caps-to-continue-1673232331

Stimulus for large, small industries: Tk 50,000cr fresh funds see tepid disbursement

Two of the government’s 28 Covid-19 stimulus packages saw a fresh injection of Tk 50,000 crore in the ongoing financial year, but only 4 per cent of the fund was disbursed between July and October. The two packages each aimed at providing working capital to large industries and service sector firms and cottage, micro, small, and medium enterprises (CMSMEs) saw a collective disbursement of Tk 2,151 crore as of October, according to a finance ministry report. Officials said many of the borrowers who already took loans under the stimulus packages in the previous two rounds have not paid back. So, they have not qualified for fresh loans from the allocations made in the latest round.

Source: https://www.thedailystar.net/business/economy/news/stimulus-large-small-industries-tk-50000cr-fresh-funds-see-tepid-disbursement-3215996

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 33,630.61
↑ 700.53 ↑ 2.13%
FTSE100$ 7,699.49↑ 66.04↑ 0.87%
Nikkei 225$ 25,973.85 ↑ 153.05↑ 0.59%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 74.78 ↑ 1.01↑ 1.37%
Crude Oil (Brent)$ 79.57 ↑ 1.00 ↑ 1.27%
Gold Spot$ 1,875.16↑ 9.47↑ 0.51%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 105.9000
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