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 20, 2023

Central bank declares 7.13% reference rate to fix lending rate

The Bangladesh Bank has declared a reference lending rate of 7.13% for July, projecting an increase in interest rates for all types of bank loans. Based on the reference rate, the lending rate for banks will rise to 10.13% with the addition of a 1% supervision fee, meaning the rate will be 11.13% for personal and car loans, both of which fall under CMSME (Credit to Micro, Small, and Medium Enterprises) and consumer loans. Reference interest rates, sometimes called benchmark interest rates, are interest rates that are used as the basis for financial contracts. Banks can apply a margin of up to 3%, while NBFIs can apply a margin of up to 5% over the SMART rate. The central bank determined the reference rate by calculating the average of treasury bills from December 2022 to May 2023. Furthermore, the lending rate for agricultural and rural loans will increase to 9.13%, up from the existing 8% for farm loans and 9% for other types of rural loans. However, the lending rate of 20% for credit cards will remain unchanged.

Source: https://www.tbsnews.net/economy/banking/cenbank-declares-713-reference-rate-fix-lending-rate-652666

BB to launch taka-rupee-based debit card in September

The Bangladesh Bank has decided to launch a taka-rupee based debit card in the country from September, aiming to save dollars. This card will allow users to make various payments, including domestic purchases, using Taka, as well as enable them to spend in Indian rupees when traveling to India. Bangladesh Bank Governor Abdur Rouf Talukder made this announcement while presenting the new monetary policy for the first half of FY23-24 on Sunday (18 June). The introduction of this card is expected to eliminate the need for double currency exchanges, thereby saving the 6% expenditure loss incurred in converting taka to dollars and then dollars to rupees, the governor added. Bangladesh holds the distinction of being among the countries with the highest number of tourists visiting India, with over 21.56 lakh Bangladeshis visiting in 2017 on tourist visas.

Source: https://www.tbsnews.net/economy/banking/bb-launch-taka-rupee-based-debit-card-september-652054

IBBL gets new chairman

Ahsanul Alam has been unanimously elected the chairman of Islami Bank Bangladesh Limited at the 324th meeting of the Board of Directors of the bank on Monday, says a press release. Prior to this, he was the chairman of the Board of Directors of Union Bank Limited. He completed his bachelor’s degree from the University of Bradford and master’s in Business Administration (MBA) from Edinburgh Napier University, UK. He is the chairman of Hasan Abasan (Pvt.) Limited and Managing Director of Artsy Holdings Limited, Shining Assets Limited, Affinity Assets Limited, Wesco Limited, Marina Assets Limited and Kraft Holding Company Limited.

Source: https://today.thefinancialexpress.com.bd/trade-market/ibbl-gets-new-chairman-1687195704

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 34,299.12
↓ 108.94↓ 0.32 %
FTSE100$ 7,588.48↓ 54.24↓ 0.71 %
Nikkei 225$ 33,265.30↓ 105.12↓ 0.31 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 70.88↓ 0.90↓ 1.25 %
Crude Oil (Brent)$ 75.93↓ 0.16↓ 0.21 %
Gold Spot$ 1,950.27↓ 0.21↓ 0.01 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 108.5000
BDT 108.5200

*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