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 January 11, 2023

Interbank lending rate goes past 9% cap for liquidity crunch

Cash-strapped banks are borrowing from cash-rich lenders paying more than 9 per cent in interest rate, which is above a cap set by the central bank, as an unprecedented liquidity crunch has hit the banking sector of Bangladesh. Some lenders have recently faced a cash reserve ratio (CRR) shortage, forcing them to secure funds at a higher interest rate from others.

For example, a bank yesterday took a loan amounting to Tk 15 crore, the maturity of which is 14 days, at a 10 per cent interest rate. A similar loan would cost 4 per cent a year earlier. Another lender obtained a loan of Tk 120 crore at 9.25 per cent interest on Monday, with a repayment period of 90 days. The lending rate was 4.25 per cent the year before. Banks turn to the interbank money market for short-term funds in order to meet their day-to-day financial needs. “The existing liquidity crunch in the banking sector is unprecedented,” said Ahsan H Mansur, executive director of the Policy Research Institute of Bangladesh. The interest rate in the interbank money market in Bangladesh usually shoots up in the run-up to Eid-ul-Fitr and Eid-ul-Azha, the two largest religious festivals for Muslims in Bangladesh, as people withdraw funds from the banking system to meet a rise in expenses. 

Source: https://www.thedailystar.net/business/economy/news/interbank-lending-rate-goes-past-9-cap-liquidity-crunch-3217671

Economic zones create 50,000 jobs so far

The economic zones (EZs) across the country have already created 50,000 jobs and will create more in near future as new industrial units are set to go into operations there, said Bangladesh Economic Zones Authority (BEZA) on Tuesday. “Around 50,000 people have so far been employed in the economic zones,” said BEZA Executive Chairman Shaikh Yusuf Harun. Six more companies are likely to begin commercial operations at Bangabandhu Sheikh Mujib Shilpa Nagar within the next six months, he added. He came up with the disclosures at an agreement signing ceremony between privately-run Bay Economic Zone and Taiwan-based apparel maker Makalot (BD) Ltd at the BEZA headquarters in the city’s Agargaon. Managing Director of the Bay Group Ziaur Rahman and Chairman of the Makalot (BD) Ltd Chou Hsin-Peng inked the agreement on behalf of their respective sides. Under the business agreement, the Makalot is preparing to invest $17 million to establish an industrial unit at the Bay EZ, creating job opportunities for nearly 1,500 people.

 Source: https://thefinancialexpress.com.bd/economy/economic-zones-create-50000-jobs-so-far-1673411206

DSE aims at listing of at least 20 securities to boost trades on ATB

The Dhaka Stock Exchange is looking to increase the number of securities listed on the newly-launched Alternative Trading Board to make it vibrant. In doing so, the main board of the stock market insists that the listed securities should meet some sort of standards so investors gain confidence and come to the platform for trading. As of now, one equity security and a debt security have been listed. One of them, Lanka Bangla Securities have seen transactions of 2,500 shares since the first trading on January 4, but the other Pran Agro Limited Unsecured Guaranteed Bond-I has recorded no trades yet. “At least 20 securities are required for the platform to gain momentum. Our target is to ensure listing of quality securities,” said M. Shaifur Rahman Mazumdar, managing director (current charge) at the DSE. Defining the standards set, he said the companies that had convincing track records and bore good reputation would be welcomed into the platform. That was the ground on which the DSE had rejected a proposal.

Source: https://thefinancialexpress.com.bd/stock/dse-aims-at-listing-of-at-least-20-securities-to-boost-trades-on-atb-1673410148

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 33,704.10
↑ 186.45 ↑ 0.56%
FTSE100$ 7,694.49↓ 30.45↓ 0.39 %
Nikkei 225$ 26,434.84 ↑ 259.28↑ 0.99%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 74.37 ↓ 0.75↓ 1.00%
Crude Oil (Brent)$ 79.34 ↓ 0.76↓ 0.95%
Gold Spot$ 1,880.80↑ 3.77↑ 0.20%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 107.0000
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