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 Jun 25, 2024

IMF board okays $1.152b for Bangladesh

Bangladesh now goes to receive US$1.152 billion from the ongoing $4.7- billion IMF loan programme as the Executive Board of the International Monetary Fund approved the third tranche of the loan. Bangladesh Bank Executive Director Md Mezbaul Haque, also spokesman for the central bank, told the FE on Monday night the IMF board meeting, held in Washington, DC, endorsed disbursement of the much-sought-after fund. The multilateral lender granted the loan to Bangladesh in January last year to help regain macroeconomic stability as the economy of the South Asian nation had been facing severe turbulence since the Covid-19 pandemic and the war in Ukraine. Earlier on May 08, the IMF reached a staff-level agreement with the government of Bangladesh on the policies needed to complete the second review of the ongoing lending programme. This time, Bangladesh was supposed to get $668 million after the completion of second review but the IMF staff team agreed to raise the dollop to $1.15 billion on request from the government. Of the total sum, $932 million is coming as Extended Credit Facility (ECF)/ Extended Fund Facility (EFF) while $220 million comes as Resilience and Sustainability Facility (RSF).

Source: https://today.thefinancialexpress.com.bd/first-page/imf-board-okays-1152b-for-bangladesh-1719248019

Foreigners repatriate $130m from BD in 10 months

Foreign nationals residing in Bangladesh repatriated US$130.58 million of their income during the July-April period of the current fiscal year (FY) 2023-24. Indian citizens sent the highest amount, repatriating $50.60 million from Bangladesh during the first ten months of this fiscal year. According to the information provided by the finance minister, Chinese citizens repatriated the second-highest amount of foreign currency from Bangladesh, at $14.56 million. This was followed by Sri Lankans $12.71 million, Japanese $6.89 million and Koreans $6.21 million during the July-April period. Thai citizens repatriated $5.30 million, while citizens of the United Kingdom, Pakistan, the United States, Malaysia and other countries repatriated $3.59 million, $3.24 million, $3.17 million, $2.40 million and $21.92 million, respectively, during the same period. a total of 56 government organisations owed around Tk513.91 billion to various public and private banks as of March 31 of this year, reports United News of Bangladesh (UNB).

Source: https://today.thefinancialexpress.com.bd/first-page/foreigners-repatriate-130m-from-bd-in-10-months-ali-1719248308

ADB to provide $800m in loans as budget support in FY25

The Asian Development Bank (ADB) is expected to provide $800 million in loans to Bangladesh in the next fiscal year 2024-2025 as budget support to ensure the country’s smooth graduation from least developed country (LDC) status. The government has requested a total of $800 million under the two sub-programmes, each amounting to $400 million. Under this programme, the NBR has to increase the tax-GDP ratio by 2 percentage points to 9.4 by 2027. The financing could be higher than requested, potentially reaching $1 billion to $1.2 billion. Earlier, under the $4.7 billion loan deal with the IMF, the Washington-based financial institution gave conditions to Bangladesh to increase a 0.5% in the tax-GDP ratio for 2023-24. In the next two fiscal years, it has to increase by 0.5% and 0.7%, respectively.

Source: https://www.tbsnews.net/economy/adb-provide-800m-loans-budget-support-fy25-883701

EBL opens first ever ATM services at Dhaka metro rail station

EBL becomes first to introduce ATM services at Dhaka metro rail stations, according to a press release. M. A. N. Siddique, managing director of Dhaka Mass Transit Company Limited (DMTCL), and Ali Reza Iftekhar, managing director of EBL, inaugurated the first ever ATM at the Agargaon metro rail station. M. Khorshed Anowar, deputy managing director, Ziaul Karim and others were present at the event.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/ebl-opens-first-ever-atm-services-at-dhaka-metro-rail-station-1719243759

Mr. Fazlul Haque joins IIFC as Managing Director

Mr. AKM Fazlul Haque has recently joined as the Managing Director of Infrastructure Investment Facilitation Company (IIFC). He was a secretary of the Government of Bangladesh. Mr. Haque hails from Barhatta upazila under Netrakona district. He completed his graduation and post-graduation in social welfare from the Dhaka University. He also completed Diploma in Education from the Dhaka University and obtained a master’s degree in Public Health from the North South University. In 1993, Mr Haque joined the BCS (Admin) cadre as Assistant Commissioner & Magistrate. He served as Senior Assistant Secretary in Power Division, Ministry of Power, Energy & Mineral Resources, and at Ministry of Youth and Sports.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/fazlul-haque-joins-iifc-as-managing-director-1719244737

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 39,411.21
↑ 260.88↑ 0.67 %
FTSE100$ 8,281.55↑ 43.83↑ 0.53 %
Nikkei 225$ 39,033.46↑ 228.81↑ 0.59 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 81.70↑ 0.07↑ 0.09 %
Crude Oil (Brent)$ 86.06↑ 0.05↑ 0.06 %
Gold Spot$ 2,327.67↓ 6.98↓ 0.30 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Inter-Bank Exchange Rates
CurrencyLowestHighestCurrent WAR

*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