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 31, 2023

Bangladesh secures $4.7b in IMF loans

The Executive Board of the International Monetary Fund has approved $4.7 billion in loans for Bangladesh at the request of the government, helping the country build a buffer against depleting forex reserves. Bangladesh secured about $3.3 billion under the Extended Credit Facility (ECF) and the Extended Fund Facility (EFF) arrangements. This approval enables the immediate disbursement of about $476 million, bdnews24.com reported early Tuesday citing an IMF statement. The IMF Executive Board also approved about $1.4 billion under the newly created Resilience and Sustainability Facility (RSF). Bangladesh is the first Asian country to access the RSF. Bangladesh’s robust economic recovery from the pandemic has been interrupted by Russia’s war in Ukraine, leading to a sharp widening of Bangladesh’s current account deficit, depreciation of the taka and a decline in foreign exchange reserves, the IMF said.  “The authorities have taken on a comprehensive set of measures to deal with these latest economic disruptions. The authorities recognise that in addition to tackling these immediate challenges, long-standing structural issues and vulnerabilities related to climate change will also need to be addressed to accelerate growth, attract private investment, enhance productivity, and build climate resilience,” the Washington-based lender said. The IMF-supported programme under the ECF/EFF arrangements will help preserve macroeconomic stability and prevent disruptive adjustments to protect the vulnerable, while laying the foundations for strong, inclusive, and environmentally sustainable growth.

Source: https://thefinancialexpress.com.bd/economy/bangladesh-secures-47b-in-imf-loans-1675138334

Despite downturn 3 dozen listed firms plan Tk7,500cr investment

Despite domestic and external economic headwinds, some three dozen manufacturing companies listed on the Dhaka Stock Exchange are sticking to their guns and going ahead with expansion plans announced in 2022. While demand and growth have both dampened, these companies have made it clear that they aren’t going to turn back from the combined investments of nearly Tk7,500 crore – up by 104% from 2021, according to data from the Dhaka bourse analysed by The Business Standard. With an eye on the future, as most of these investments will pay dividends a few years from now, businesses are optimistic about the economic gloom being lifted and want to be prepared for a demand surge. Eight of these companies will invest at least Tk100 crore each or more to expand their operations. These new investments will also create employment for several thousand people. RAK Ceramics (BD) Limited, a UAE-Bangladesh joint venture, is investing Tk902 crore in building two new factories – for tiles and faucets – to meet growing market demand in the future.

Source: https://www.tbsnews.net/economy/despite-downturn-3-dozen-listed-firms-plan-tk7500cr-investment-576930

AB Bank disburses agri loans thru smart cards

AB Bank disbursed agricultural loans to small and marginal farmers through smart cards in Barishal. Serniabat Sadiq Abdullah, mayor of Barishal City Corporation, attended the agricultural loan distribution programme organised by AB Bank at Abdur Rab Serniabat Stadium in Barishal, said a press release. Tarique Afzal, president and managing director of AB Bank, presided over the event, where Swapan Kumar Das, executive director of Bangladesh Bank’s Barishal office, Shawkat Osman and Harun-Ur-Rashid, additional directors of the Department of Agricultural Extension, were present.  

Source: https://www.thedailystar.net/business/economy/news/ab-bank-disburses-agri-loans-thru-smart-cards-3234821

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 33,717.09
↓ 260.99↓ 0.77%
FTSE100$ 7,784.87↓ 19.72 ↓ 0.25%
Nikkei 225$ 27,382.36 ↓ 51.04↓ 0.19%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$77.55 ↓ 0.35 ↓ 0.45%
Crude Oil (Brent)$84.85 ↓ 0.05↓ 0.06%
Gold Spot$1,918.15 ↓ 5.02↓ 0.26%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 105.3500
BDT 106.7000

*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