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 18, 2023

Internet banking transactions hit nearly Tk 50,000cr

Internet banking transactions reached a record high amount of nearly Tk 50,000 crore in May, signifying the enhanced cost and time savings and convenience enabled over visits to brick-and-mortar branches for a growing number of bank account holders. The transactions soared 142 per cent year-on-year to Tk 49,930 crore, showed the latest Bangladesh Bank (BB) data. Many banks did not have any mobile app. Now more than 40 banks have apps to facilitate customers in carrying out banking digitally. Now customer literacy and awareness are needed as people are showing interest and banks are promoting electronic banking. Banks are introducing new products as digital banking is growing, said Emranul Huq, managing director and CEO of Dhaka Bank Ltd. The growth of digital banking has sped up as banks are becoming connected with mobile financial service (MFS) providers. Once customers used to transfer funds to MFS. Now deposits are also coming from MFS. This has become a big area. Dhaka Bank Ltd has introduced nano deposits and registered an increase in the opening of accounts. On the risks of cyberattacks and fraud, Mr. Huq said banks were investing to build firewalls to ensure digital security and protect their systems. The BB issued an ICT risk management guideline for banks, abiding by which will require banks to make a lot of investment. Customers’ literacy and awareness is also needed, he added.

Source: https://www.thedailystar.net/business/economy/news/internet-banking-transactions-hit-nearly-tk-50000cr-3371806

Leather footwear exporters can now apply for over 5% discounts

Exporters can now apply to the Discount Committee of the central bank for more than 5% discounts against the export of leather footwear goods. The Foreign Exchange Policy Department of the Bangladesh Bank issued a circular in this regard on Sunday. The move will help exporters offset the loss of export proceeds they often incur by offering buyers discounts of more than 5% prescribed in the Guidelines for Foreign Exchange Transactions. Leather footwear exporters were previously unable to provide additional discounts to their foreign customers. However, the new guidelines issued by the central bank have now allowed this sector to apply for discounts of more than 5%.

Source: https://www.tbsnews.net/economy/leather-footwear-exporters-can-now-apply-over-5-discounts-666374

Plastic industry policy finalised with 10-year income tax holiday for entrepreneurs

The Plastic Industry Development Policy 2023 has been finalised with a provision for a 10-year income tax holiday to entrepreneurs in plastic parks and disadvantaged areas. The policy was finalised in June this year based on stakeholder feedback, nearly two years after a draft was released in 2021. This five-year policy, formulated by the Ministry of Industries, will be implemented by 2028. The policy aims to ensure adequate financial support for domestic industries by providing loans to the small and medium enterprises in the plastic sector at 3% interest from a special fund. At present, the market of Bangladeshi plastics is about $2.99 billion. Of which, 83.4% is domestic and the remaining 16.6% is international. In the new policy, an annual growth target of 15% has been set for the plastic industry. In FY23, Bangladesh’s plastic and plastic product export was 4.21% short of target, but increased by 6.67% compared to the previous fiscal. Exports of plastic products in FY23 increased by 26.23% to $20.98 crore against the previous year’s $16.62 crore. According to Grand View Research, the global plastic market was valued at $609.01 billion in 2022 and is expected to grow to $721.14 billion by 2025. Bangladesh occupies only 0.6% of the global plastic market.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/tanveer-ahmad-elected-vice-chairman-of-islami-bank-1689005999

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 34,585.35
↑ 76.32↑ 0.22 %
FTSE100$ 7,406.42↓ 28.15↓ 0.38 %
Nikkei 225$ 32,394.09↑ 2.83↑ 0.01 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 74.43↑ 0.28↑ 0.38 %
Crude Oil (Brent)$ 78.76↑ 0.26↑ 0.33 %
Gold Spot$ 1,960.97↑ 5.93↑ 0.30 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 108.8200
BDT 109.0000

*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