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 15, 2023

BB to float exchange, lending rates by June: Rouf

Bangladesh Bank is expected to go for floating exchange and lending rates by June next as part of an effort to reform its financial sector. “Now we’re working on introducing the market-based foreign-exchange and lending rates for a better outcome,” BB Governor Abdur Rouf Talukder said on Tuesday. The foreign-exchange rates are administered to some extent by the central bank while the lending rates are capped. The governor was speaking as the chief guest at a discussion in Dhaka on “Middle-income trap and way forward”, marking the occasion of Bangladesh-ADB 50 years of partnership. “To avoid the Middle-income trap, Bangladesh needs to go for some reforms and take initiatives,” he said, stressing the need for investing in product diversification, productivity improvement, developing CMSMEs, climate change issues, and improvement in financial inclusion and digital transformation.

Source: https://thefinancialexpress.com.bd/economy/bangladesh/bb-to-float-exchange-lending-rates-by-june-rouf

Unique Meghnaghat Power secures $463m loans from abroad

Unique Meghnaghat Power Ltd has signed an agreement with lenders for a foreign loan of $463 million for 15 years to meet its debt requirement, said one of its owners yesterday. The company is a joint venture of Unique Hotel & Resorts PLC, Strategic Finance Limited, Nebras Power Investment Management BV, and GE Capital Global Energy Investment BV. It was established as a special-purpose vehicle for the construction and operation of a 584-megawatt gas-based combined cycle power plant in Narayanganj on a build-own-operate basis for 22 years. A special purpose vehicle is a subsidiary company that is formed to undertake a specific business purpose or activity. The project will be financed at a 75:25 debt-equity ratio where Unique Hotel & Resorts PLC has a 37.24 per cent of economic interest, said Unique Hotel in a filing on the Dhaka Stock Exchange. As per disclosure, Standard Chartered Bank will provide $270 million, the Asian Infrastructure Investment Bank will give $110 million, Germany’s development finance institution DEG will come up with $45 million, and the Opec Fund for International Development will lend $38 million.

Source: https://www.thedailystar.net/business/economy/news/unique-meghnaghat-power-secures-463m-loans-abroad-3271526

ADB will continue to stand beside Bangladesh, says ADB President

Lauding highly the socio-economic progress and capacity of Bangladesh, visiting Asian Development Bank (ADB) President Masatsugu Asakawa has said that the lending agency would continue to stand beside Bangladesh in the coming days like in the past. The ADB has been continuing to stand beside Bangladesh in its stride toward socio-economic recovery from the pandemic and would continue to support Bangladesh in the future also, he said. The ADB President said this as he met Finance Minister AHM Mustafa Kamal at a city hotel on Monday, said a Finance Ministry press release. The ADB president has been visiting Bangladesh on March 12-17 marking the 50 years of partnership of ADB and Bangladesh, reports BSS. The Finance Minister lauded the role of ADB as one of the leading development partners since 1973 in the development journey of Bangladesh. He informed that in the last 50 years, ADB made a commitment of $28.4 billion to Bangladesh of which it made a disbursement of $21.1 billion till date. Bangladesh also made a repayment of $6.5 billion as principal amount during this period.

Source: https://thefinancialexpress.com.bd/economy/bangladesh/adb-will-continue-to-stand-beside-bangladesh-says-adb-president

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
FTSE100$7,637.11 ↑88.48 ↑1.17%
Nikkei 225$27,229.74↑7.70↑0.03%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$72.38 ↑1.05↑1.47%
Crude Oil (Brent)$78.51↑1.06↑1.37%
Gold Spot$1,899.44↓4.57↓0.24%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 105.6500
BDT 107.0000

*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