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 14, 2023

$1b in budget support arrives next week

About $1 billion in budget support is set to arrive in the next few days from three development partners to help the government meet its deficit financing for this fiscal year. Of the sum, $400 million is coming from the Asian Development Bank, another $400 million from the Asian Infrastructure Investment Bank and $216 million from the Japan International Cooperation Agency. Yesterday, the boards of the AIIB and the ADB approved the loan. The approval for the loan from Jica is expected by next week. However, the inflow would not be enough to prop up the country’s net international reserves enough to meet the $24.46 billion floor set by the International Monetary Fund to get the second tranche of the $4.7 billion sanctioned. The revenue authority will also have to issue an order to expand the electronic deduction of income tax at-source system in at least 6 more tax zones. The revenue authority has also mandated online payment of VAT amounts exceeding Tk 1 crore as per the ADB’s recommendations. Online payment of income tax for amounts exceeding Tk 20 lakh and pilot online personal income tax return filing by taxpayers with income exceeding Tk 70 lakh are two more conditions.

Source: https://www.thedailystar.net/news/bangladesh/news/1b-budget-support-arrives-next-week-3345481

Banks boast rises in deposits, advances, investments

Deposit in Bangladesh’s banking system increases and so does the number of millionaire accountholders, according to latest official statistics that come as solace for banks in the wake of liquidity crunch. Simultaneously, advances from the scheduled banks increased by Tk173.81 billion or 1.25 per cent to Tk14.05 trillion during the first quarter of 2023. According to the Bangladesh Bank statistics revealed Tuesday, the total deposit liabilities of the scheduled banks increased by Tk 250.52 billion to reach Tk16.13 trillion during the quarter. As the deposit was enhanced, the banks’ tendency of borrowing from the central bank declined by 6.88 per cent year on year. The banks altogether borrowed Tk 1.12 trillion from the BB at the end of the quarter under review. The entire borrowed amount from the BB in the previous quarter was Tk 1.20 trillion. The BB statistics also show that the country had seen an increase in the number of millionaires in January to March period of 2023 despite the inflation threat fuelled by the Russia-Ukraine war and Covid-19 pandemic. According to the data, the number of millionaire bank accountholders stood at 110192 in the first quarter of this year having an amount of Tk 6.91 trillion. The number of such accountholders was 109,946 in the corresponding period and these accounts had an amount of Tk 6.77 trillion.

Source: https://today.thefinancialexpress.com.bd/last-page/banks-boast-rises-in-deposits-advances-investments-1686680030

South Bengal Group to invest $33m in Sabrang Tourism Park

Bangladesh Economic Zones Authority (BEZA) has inked a land lease agreement with South Bengal International Trading Limited to set up a hotel and resort in the country’s first exclusive tourism park. With the deal, South Bengal International Trading Limited, a sister concern of South Bengal Group, has been allotted 2.0 acres of land to establish the new infrastructure in Sabrang Tourism Park. The Group has also involvement in other business activities including real estate, garments, trading, and tours and travels. According to the investment proposal, the company will build the hotel and resort with an investment of about $ 33 million. About 300 people will be employed through this investment. The tourism park, whose master plan was approved by Prime Minister Sheikh Hasina, has a total land area of more than 900 acres.

Source: https://today.thefinancialexpress.com.bd/trade-market/south-bengal-group-to-invest-33m-in-sabrang-tourism-park-1686677993

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 34,212.12
↑ 145.79↑ 0.43 %
FTSE100$ 7,594.78↑ 24.09↑ 0.32 %
Nikkei 225$ 33,516.58↑ 497.93↑ 1.51 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 69.46↑ 0.04↑ 0.06 %
Crude Oil (Brent)$ 74.39↑ 0.10↑ 0.13 %
Gold Spot$ 1,949.35↑ 5.61↑ 0.29 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 108.7000
BDT 108.7000

*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