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 16, 2023

Bangladesh Bank lifts minimum deposit rate, hikes lending rate up to 12pc

The Bangladesh Bank on Sunday withdrew the minimum deposit rate for banks and allowed lending rate on consumers’ credit up to 12 per cent in its monetary policy announced for the second half of financial year 2022-23. Earlier, the minimum deposit rate was the average of three months’ inflation rate, and the consumer credit refers to personal loan, and loan on car, real estate, education, etc. The BB in its cautiously accommodative MPS also raised its policy rate by 25 basis points to contain inflationary and exchange rate pressure. The central bank unveiled the monetary policy statement for the January-June period at a press conference held in its head office in the capital. Considering a suitable economic condition, the nine per cent lending rate cap will be removed, according to the statement. The relaxation of the lending rate and the removal of the deposit rate may help grow the overall deposit rate, it said. In April 2020, the central bank imposed the lending rate cap at 9 per cent. It also levied the minimum deposit rate in August 2021. The overall inflation soared to 9.52 per cent in August, the highest in a decade, which dropped to 9.1 per cent in September, 8.91 per cent in October, 8.85 per cent in November and 8.71 in December 2022. In the latest MPS, the repo rate at which the central bank of a country lends money to commercial banks was raised to 6 per cent from 5.75 per cent, reverse repo rate to 4.25 per cent from 4 per cent and special repo rate to 9 per cent from 8.75 per cent on the day. The Bangladesh Bank, however, increased domestic credit growth target to 18.5 per cent while the private sector credit growth target was kept unchanged at 14.1 per cent.

Source: https://www.newagebd.net/article/191747/bangladesh-bank-lifts-minimum-deposit-rate-hikes-lending-rate-up-to-12pc

BB looks to promote digital banking

The Bangladesh Bank plans to promote digital banking to encourage the broad adoption of financial products and services as it looks to accelerate financial inclusion, thus moving the country towards a cashless society. The central bank has made a significant effort to develop a modern digital payment system over the last decade. The digitalization of the banking sector, the popularization of mobile financial services (MFS) and agent banking, the rise of online-based banking services, the introduction of payment systems operators (PSOs) and payment service providers (PSPs), and the full interoperability of the financial sector, specifically the introduction of interoperable digital transaction platform “Binimoy” are some of the critical initiatives to impact the onboarding and transaction behavior of end-users.

Source: https://www.thedailystar.net/business/economy/news/bb-looks-promote-digital-banking-3222076

New era begins as Ctg port sees bigger ships berth

A vessel with 10 metres draught berthed at a jetty of the Chattogram port for the first time yesterday, a major leap forward as the movement of larger ships is expected to cut costs and save time. Port users hope that the increased draught limit would enable the transportation of more cargoes and containers by a single vessel and help ease congestion at the seaport, which handles around 90 per cent of Bangladesh’s $135 billion annual trade. “It is very good news,” said Faruque Hassan, president of the Bangladesh Garment Manufacturers and Exporters Association. Owing to the lower draught in the Karnaphuli channel, relatively larger ships could not enter the channel as of yesterday. Now they will be able to come with higher loads.

Source: https://www.thedailystar.net/business/economy/news/new-era-begins-ctg-port-sees-bigger-ships-berth-3222096

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 34,302.61
↑ 112.64 ↑ 0.33%
FTSE100$ 7,844.07↑ 50.03 ↑ 0.64%
Nikkei 225$ 25,795.07 ↓ 324.45↓ 1.24%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 79.25 ↓ 0.61↓ 0.76%
Crude Oil (Brent)$ 84.58 ↓ 0.70↓ 0.82%
Gold Spot$ 1,919.65 ↑ 0.58↑ 0.03%

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