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 July 24, 2022

BB to sign MoU with banks to cut default loans

Bangladesh Bank plans to sign a memorandum of understanding (MoU) with 10 commercial banks for taking various steps on a pilot basis, including periodically publishing their lists of defaulters, in a bid to reduce their default loans. The central bank recently shared this plan with a visiting mission of International Monetary Fund (IMF). Bangladesh Bank plans to sign memorandums of understanding on a pilot basis with 10 commercial banks to devise a credible plan to reduce NPLs. Non-performing loans totalled Tk 113,441 crore in March, seeing a 19.3 per cent year-on-year surge. An official of Bangladesh Bank said another technical mission from the IMF would come later to provide assistance to the central bank for reducing default loans. It observed that subsidies for energy, fertilisers and food as well as support for the vulnerable and farmers have increased. But a reprioritisation of current and capital expenditures is expected to contain the fiscal deficit for FY22 as budgeted at 5.1 per cent of the GDP. The IMF projected the fiscal deficit to reach 5.5 per cent of the GDP in FY23, partly driven by higher subsidies and weak revenue collections. The government has set aside an allocation of Tk 82,745 crore to run its subsidy programme for fiscal year 2022-23.

Source: https://www.thedailystar.net/business/economy/news/bb-sign-mou-banks-cut-default-loans-3077801

Internet banking booms on 81pc turnover growth

Internet banking, which found a blessing in disguise during the pandemic-enforced restricted movements of people, now makes a quantum leap on an 81.5-percent turnover growth, year on year. As per latest official figures up till last May, the e-banking grew in terms of the number of customers, transactions, and turnover. The number of customers increased over 44 per cent, year on year, to 5.138 million in May. The number of transactions in internet banking rose 66 per cent while the amount surged by 81.51 per cent to Tk. 206.63 billion. And mobile financial system or MFS accounts surged to 112.69 million in May, up 15 per cent than in May 2021. The number of MFS agents increased by more than 9.0 per cent to 1.19 million during the period under review. The number of transactions in e-commerce spiked by nearly 35 per cent but its value in transactions also remained volatile in the past one year. In May last, its value was Tk 8.67 billion.

Source: https://today.thefinancialexpress.com.bd/first-page/internet-banking-booms-on-81pc-turnover-growth-1658597454

Pharma sector has export potential to be next RMG

Speakers at a seminar on Saturday said the country’s pharmaceutical sector, which is meeting 98 per cent of its domestic demand, has the potential to become the next RMG in terms of export. They, however, said there are some challenges that need attention in regard to right policy formulation at the right time. They also underscored the need for keeping pace with global shifting of the sector and implementing the Active Pharmaceutical Ingredients (API) Park. DCCI President Rizwan Rahman in his opening remarks said that after graduation, Bangladesh would face a higher tariff regime, ranging from 8.0 per cent to 15 per cent, in the export market which might decline export earnings by 14.28 per cent – equivalent to US$5.73 billion.

Source: https://today.thefinancialexpress.com.bd/first-page/pharma-sector-has-export-potential-to-be-next-rmg-1658597673

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 31,899.29
↓ 137.61↓ 0.43 %
FTSE100$ 7,276.37↑ 5.86↑ 0.08 %
Nikkei 225$ 27,914.66↑ 111.66↑ 0.40 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 94.70↓ 1.65↓ 1.71 %
Crude Oil (Brent)$ 103.20↓ 0.66↓ 0.64 %
Gold Spot$ 1,727.64↑ 8.83↑ 0.51 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 93.9410
GBP 1BDT 112.4863
EUR 1BDT 95.6505

*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