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 July 06, 2022

BGMEA targets $100b export by 2030

The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) yesterday set a $100-billion apparel shipment target by 2030, which is more than double the country fetched in the just-concluded financial year. The platform is upbeat about hitting the goal as significant orders are shifting to Bangladesh from China and other countries and exporters are increasingly producing mid-range items, manufacturing more and more products from manmade fibre (MMF), and entering new markets. The fresh target means suppliers will have to ship $7.17 billion additionally per year from the current level to reach the goal.

Bangladesh exported garment items worth $42.61 billion in the last fiscal year that ended on June 30, data from the Export Promotion Bureau showed. “It is possible to achieve the target as we are diversifying the products and markets,” said Faruque Hassan, president of the BGMEA, while unveiling the new logo and new vision of the platform at the Westin Hotel in Dhaka. Bangladesh will mainly rely on three important products, including the shipment of mid-range garment items, MMF-made items and technical clothes like the uniforms used by healthcare professionals and professionals in other service sectors, said Hassan. Exporters’ presence in the $700-billion global MMF-made garment market is not that much as local producers are stronger in making apparel items from cotton fibre.

Source: https://www.thedailystar.net/business/economy/news/bgmea-targets-100b-export-2030-3064956

StanChart introduces digital cross-border LC.

Standard Chartered Bangladesh has recently completed the transmission of the country’s first-ever paperless and digital cross-border letter of credit (LC).  The first client to complete the paperless application for the LC issuance was Heidelberg Cement Bangladesh Ltd, said the multinational bank in a press release yesterday. The transaction was made possible by a recent amendment to Bangladesh’s Import Policy Order, advocated for by Standard Chartered. As per the new order, clients can apply for an LC online using bank’s digital portal and there is no requirement to submit a signed physical copy of the application. The change will facilitate international trade for the country by making the LC application process simpler, faster, and more efficient, said the bank.

 “Digitalising trade is a critical lever to accelerate economic development and improve productivity,” said Naser Ezaz Bijoy, chief executive officer of Standard Chartered Bangladesh, in the press release.  He described the online LC application system as a milestone in the digital trade journey of Bangladesh. “Digital LC application will increase the operational efficiency for our clients.” Jashim Uddin Chowdhury, chief financial officer of Heidelberg Cement Bangladesh, welcomed the development, saying it would reduce the time taken for forwarding an application to banks.

Source: https://www.thedailystar.net/business/organisation-news/news/stanchart-introduces-digital-cross-border-lc-3064926

Sarker elected vice chair of Dhaka Bank

Md Aman Ullah Sarker was recently elected as vice-chairman of Dhaka Bank Limited, according to a press release from the private commercial bank. Sarker is associated with Rahmat Group, a leading textiles, spinning, weaving, plastics and accessory manufacturer. With a business background spanning 31 years, Sarker earned his bachelors and master’s degrees in business administration from the University of Dhaka.

Source: https://www.thedailystar.net/business/organisation-news/news/sarker-elected-vice-chair-dhaka-bank-3064891

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 30,967.82
↓ 129.44↓ 0.42 %
FTSE100$ 7,025.47↓ 207.18↓ 2.86 %
Nikkei 225$ 26,133.09↓ 290.38↓ 1.10%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 100.21↑ 0.71↑ 0.71 %
Crude Oil (Brent)$ 104.10↑ 1.33↑ 1.29%
Gold Spot$1,768.68↑ 3.92↑ 0.22%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 93.4500
GBP 1BDT 113.1306
EUR 1BDT 97.4216

*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