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 10, 2022

Banks urged to invest more in capital market

The securities regulator on Wednesday urged all banks to make fresh investment within their existing scope to support the ailing stock market. The Bangladesh Securities and Exchange Commission (BSEC) suggested the banks three specific ways of making investment afresh as it held a meeting with the listed banks’ CFOs (chief financial officers) at the BSEC office in the capital. First, the banks having exposure to the stock market below 25 per cent can increase it by 2.0 per cent through fresh investments. As per the existing rules, a bank’s exposure is set at 25 per cent of eligible capital comprising paid-up capital, retained earnings, statutory reserve and share premium. And, the exposure is calculated based on the market price of the securities purchased by the bank. Asked, a senior official of Bangladesh Bank (BB) said the exposure limits of all private commercial banks are below 25 per cent and the average exposure of the banks has recently been set at 16 per cent. Following the massive price correction, the DSE broad index DSEX on Monday lost 182.12 points — rated highest single-day fall since March 16, 2020. The DSEX had lost a total of 492.16 points from February 24 to March 7 following Russia’s invasion of Ukraine. The market, however, bounced back on Tuesday and saw a steep rise on Wednesday thanks to some regulatory measures to reduce the lower limit of circuit-breakers to 2.0 per cent from 10 per cent, effective from Wednesday, to stop the free-fall of stocks.

Source: https://today.thefinancialexpress.com.bd/first-page/banks-urged-to-invest-more-in-capital-market-1646845290

RMG exports to US soar 45.53pc in Jan

The country’s apparel exports to the US maintained a hefty growth – both in terms of value and volume – during the first month of current calendar year. The US imported ready-made garment (RMG) items worth US$756 million from Bangladesh in January 2022, marking a 45.53 per cent growth, according to OTEXA, an affiliate of the US Department of Commerce. Bangladesh exported goods worth $519 million to the US in January 2021. The country’s apparel exports in terms of volume also sustained a 42.17 per cent growth to 282.38 million square metres in January 22, up from 198.62 million square metres in January 21. The US imported apparel items worth $1.90 billion from China, and $1.27 billion from Vietnam. Apparel exports from other major sourcing destinations like India, Pakistan and Cambodia grew by 53.40 per cent, 44.41 per cent and 42.12 per cent respectively.

Source: https://today.thefinancialexpress.com.bd/last-page/rmg-exports-to-us-soar-4553pc-in-jan-1646846092

AB Bank reappoints MD

AB Bank has recently reappointed Mr. Tarique Afzal as the President & Managing Director of the Bank for a second term. He took over as the President & Managing Director in July 8, 2019 and his reappointment will be effective from July 8, 2022 after completion of his current tenure and will continue till July 07, 2027. Mr. Tarique Afzal started his banking career in late 1980s in London, UK. Later he served in TD Bank (Canada), ANZ Grindlays, Standard Chartered Bank in Bangladesh. He also held senior positions in Bank Alfalah and BRAC Bank.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/ab-bank-reappoints-md-1646842440

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 33,286.25
↑ 653.61↑ 2.00 %
FTSE100$ 7,190.72↑ 226.61↑ 3.25 %
Nikkei 225$ 25,589.82↑ 872.29↑ 3.53 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 109.92↑ 1.22↑ 1.12 %
Crude Oil (Brent)$ 113.74↑ 2.60↑ 2.34 %
Gold Spot$ 1,976.60↓ 15.23↓ 0.76 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 86.00
GBP 1BDT 112.7202
EUR 1BDT 93.7658

*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