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 March 06, 2024

RMG export to EU reaches US$ 13.92b in July-Jan

RMG export to the European Union has reached US$ 13.92 billion in July-January of the Fiscal Year (FY) 2023-24, according to the Export Promotion Bureau (EPB). With an increase of 1.32% compared to the same period of previous FY, the export to Spain, France, Netherlands and Poland showed 6.05%, 4.25%, 11.77% and 20.30% growth respectively. However, local apparel exports to Italy declined by 1.81%, reports UNB. On the other hand, Germany, the largest export market in the EU, reduced its import by 13.46% with an amount of US$ 3.51 billion compared to July-January 2022-23. The RMG export to the USA declined by 3.90 % with US$ 4.79 billion in the first seventh months of FY 2023-24. At the same time, exports to the UK and Canada reached US$ 3.31 billion and US$871.27 million in FY 2023-24, showing an increase by 12.98 % and 0.68% respectively. During July-January of the FY 2023-24, the apparel export to non-traditional markets went up by 11.69% to US$ 5.46 billion from US$ 4.89 billion in the corresponding period of previous year. Among the major non-traditional markets, exports to Japan, Australia and South Korea increased by 8.74%, 23% and 17.57% respectively. However, the apparel export to India declined by 21.86%.

Source: https://today.thefinancialexpress.com.bd/trade-market/rmg-export-to-eu-reaches-us-1392b-in-july-jan-1709660768

Deposit, lending rates of NBFIs go up

The interest rates of deposits and loans in the non-bank financial sector of Bangladesh have increased despite the cut in margins since the benchmark rate is on the rise. According to a notice issued yesterday by the central bank, the highest interest or profit rate on deposits offered by non-bank financial institutions (NBFIs) will be SMART plus 2.5 percent, down from 2.75 percent in November. The lending rate against loans, leases, or investments will be SMART plus 5.5 percent. The margin was 5.75 percent earlier. SMART refers to the Six-Month Moving Average Rate of Treasury Bills. The current SMART is 9.61 percent, up from 7.72 percent in November. Consequently, the deposit rate will now be a maximum of 12.11 percent against 10.47 percent in November. Similarly, the lending rate will be 15.11 percent, an increase from 13.47 percent. The new rates will be applicable for new deposits and loan disbursements, the BB said. Earlier on February 28, the BB cut the lending rate margin by 25 basis points for banks as well. Now, banks are allowed to impose a 3.5 percent margin with SMART in the case of loans, down from 3.75 percent previously. The lending rate margin has been set at 2.5 percent instead of 2.75 percent in the case of loans for pre-shipment export and agriculture.

Source: https://www.thedailystar.net/business/economy/news/deposit-lending-rates-nbfis-go-3559596

Bank transactions from 9:30am to 2:30pm during Ramadan

Banks in Bangladesh will remain open from 9:30am to 4pm during Ramadan, but transactions will be allowed til 2.30pm. According to a Bangladesh Bank circular issued today (5 March), there will be a break for Zuhr prayers from 1:15pm to 1:30pm. Banks can coordinate internally and continue the banking transactions during this break. After the end of Ramadan, the banking hours will revert to the previous schedule (10am to 5pm).

Source: https://www.tbsnews.net/economy/banking/bank-transactions-930am-230pm-during-ramadan-803802

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 38,585.19
↓ 404.64↓ 1.04 %
FTSE100$ 7,646.16↑ 5.83↑ 0.08 %
Nikkei 225$ 40,113.37↑ 15.74↑ 0.04 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 78.41↑ 0.26↑ 0.33 %
Crude Oil (Brent)$ 82.30 ↑ 0.26↑ 0.32 %
Gold Spot$ 2,125.34↓ 2.70↓ 0.13 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 110.0000
BDT 110.0000

*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