Inflation hits decade-high at 9.94% in May
Bangladesh continues to experience a sharp rally in inflation despite a decline in global commodity prices, primarily due to supply-side constraints. According to the latest report from the Bangladesh Bureau of Statistics (BBS) on Monday, the monthly inflation rate in May soared to a decade-high of 9.94%, up from 9.24% in the previous month, as both rural and urban people are paying higher prices for food and non-food items. The surge in the inflation is higher than the 7.32% growth in wages in May, the statistical agency also revealed, indicating the hardship for fixed income earners. While the inflation keeps surging, the new budget sets average annual inflation target at 6% for the next fiscal year, though economists have pointed out that the budget lacks measures to tame inflation.
7.2% of women in Bangladesh use mobile banking thru their own accounts
Around 7.2% of women in the country are using their own accounts in Mobile Financial Services (MFS) with 20% receiving services directly and indirectly from Self Financing Schemes (SFS), according to World Bank and GSMA 2022 data. At the same time, women are not connected to 57.8% of SFS services, according to the Bangladesh Institute of Development Studies (BIDS) and Asian Development Bank (ADB) 2021 data. The Innovation and Development Associates (IDEA) Foundation is an association of socio-economic development associates in Bangladesh engaged in independent research, policy analysis, advocacy, consultancy and project implementation.
MetLife Bangladesh and Dhaka Bank have announced agreement
MetLife Bangladesh and Dhaka Bank Limited have announced a first-of-its-kind agreement in the financial sector to provide exclusive benefits to the agents (field forces) of MetLife on a range of Dhaka Bank’s retail banking products. As a result, MetLife agents (field forces) will be able to avail special offers on savings accounts, credit cards, personal loans, and home loans from Dhaka Bank. These benefits are exclusively designed to support the financial stability and growth of the MetLife Bangladesh agents. The agreement was recently signed by Ala Uddin, Deputy Managing Director & Chief Financial Officer, MetLife Bangladesh, and Md Mostaque Ahmed, Deputy Managing Director & Chief Emerging Market Officer of Dhaka Bank, at the Head Office of Dhaka Bank recently.
Local and Global Stock Indices *
|Index Name||Close Value||Value Change||Percentage Change|
|↓ 199.90||↓ 0.59 %|
|FTSE100||$ 7,599.99||↓ 7.29||↓ 0.10 %|
|Nikkei 225||$ 32,356.19||↑ 138.76||↑ 0.43 %|
World Commodities *
|Commodity||Close Value||Value Change||Percentage Change|
|Crude Oil (WTI)||$ 71.82||↓ 0.33||↓ 0.46 %|
|Crude Oil (Brent)||$ 76.46 ||↓ 0.25||↓ 0.33 %|
|Gold Spot||$ 1,959.49||↓ 2.37||↓ 0.12 %|
Major Currencies Exchange Rates Movement in Last Seven Days *
|USD 1||BDT 107.7500||BDT 107.8000|
*World Commodities & Local and Global Stock Indices data are taken from bloomberg.com<
* Exchange Rates are taken from BB website, as on latest update.<