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 June 12, 2022

Minimum capital requirement for digital bank likely Tk500cr


  • There will be a head office only, no branches
  • Call centres will handle customers’ issues  
  • All banking services will be completely online
  • Operations likely to be extended in three stages
  • Deposits, withdrawals, small loans and fund transfers in 1st stage

The minimum capital requirement for a digital bank could be Tk500 crore, while the licensing would be under the Bank Company Act, according to the primary regulatory guidelines of the central bank. 

Bank Asia and mobile financial services provider Nagad have recently sought permissions from the Bangladesh Bank for setting up digital banks. Besides, a number of mobile financial services providers have shown interest in launching digital banks, according to Bangladesh Bank sources, persuading the central bank to formulate the guidelines. Finance Minister AHM Mustafa Kamal also in his FY2022-23 budget speech mentioned launching digital banks to widening and accelerating financial inclusion. He said the banks would also create new jobs for young IT workers. Digital Bank, also known as Neobank, an internet-only bank or virtual bank, is a type of direct bank that operates exclusively online without traditional physical branch networks. “The banks will have only head offices and mainly provide banking services through websites and mobile phone apps,” a senior central bank official told The Business Standard, adding “The new banks will have call centres for the customers. When fully operational, digital banks will be able to transact large sums just like conventional banks. Referring to digital banks in foreign countries, a senior central bank official said once a digital bank is approved, its operations are usually extended in three phases.

“In the first stage, the banks are allowed retail banking. The banks deal with customer deposits and withdrawals, small loans and fund transfers. If they can do these things successfully, they are allowed to go to the second phase.” The second phase incorporates lending to SMEs, while digital banks deal with corporate lending in the third phase. The banks in this stage, according to the official, receive export payments, settle import bills and go for big lending. In their proposal, the committee suggested that the country should proceed step by step like other countries, but can drop the second phase. Most members of the committee voted for the first phase to be for at least 2-3 years.

Source: https://www.tbsnews.net/economy/banking/minimum-capital-requirement-digital-bank-likely-tk500cr-438062

Corporate tax cut: Berger, Marico, United Power may miss benefit

The government has proposed a 2.5 percentage point cut in corporate tax rates for the listed companies in the national budget unveiled for the next fiscal year in a bid to develop the stock market and attract investments. This brings down the corporate tax rate to 20 per cent from 22.5 per cent for the publicly-traded firms that have issued shares worth more than 10 per cent of their paid-up capital through initial public offerings (IPOs). For the listed companies that have offloaded equities worth 10 per cent or fewer, the rate has been kept unchanged at 22.5 per cent.

However, the listed companies, whether shares equivalent to more than 10 per cent of their paid-up capital are offloaded or not, must carry out all receipts and incomes as well as all expenses and investments of more than Tk 12 lakh through bank transfer to qualify for the 2.5 percentage point cut in the corporate tax rate. Industry people have welcomed the budgetary proposal.

“The tax rate cut for the listed companies will have a positive impact on the market,” said Mir Ariful Islam, managing director of Sandhani Life Insurance Asset Management Company. Mohammad Emran Hasan, chief executive officer of Shanta Asset Management, said the reduction in the corporate tax would directly raise the net profits of the listed companies. However, Berger Paints, United Power Generation and Marico Bangladesh, are likely to miss out on the benefit since they have offloaded 10 per cent or fewer shares.

Source: https://www.thedailystar.net/business/economy/industries/tax-customes/news/berger-marico-united-power-may-miss-out-benefit-3045156

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 31,392.79
↓ 880.00↓ 2.73 %
FTSE100$ 7.317.52↓ 158.69↓ 2.12 %
Nikkei 225$ 27,824.29↓ 422.24↓ 1.49%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 120.67↓ 0.84 ↓ 0.69 %
Crude Oil (Brent)$ 122.01↓ 1.06↓ 0.86%
Gold Spot$ 1,871.60↑ 23.65↑ 1.28%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 92.0000
GBP 1BDT 113.3256
EUR 1BDT 96.7748

*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