Pharma, food see sharpest profit growth

The pharmaceuticals sector in Bangladesh displayed the fastest growth in profit between 2015 and 2020 as more people, armed with rising purchasing power, afford more healthcare products. The Dhaka Stock Exchange (DSE) has divided 384 listed companies into 22 sectors and its data showed that the pharmaceutical sector witnessed the highest profit growth during the period.The five-year average profit growth of drug makers stood at 23 per cent. The food and allied sector came in second as it posted profit growth of 17 per cent, according to the data compiled by UCB Asset Management. The average profit growth of the telecommunication sector was 12 per cent, while it stood at 6.31 per cent for the ceramic sector and 5 per cent for the banking sector.Among the pharmaceutical companies in Bangladesh, 32 are listed with the DSE, including market leaders Square Pharmaceuticals, Beximco, Renata, Acme, ACI and Ibn Sina.The number of private healthcare facilities rose to 16,979 in 2021 from 3,536 in 2000.The pharmaceutical sector, which meets 97 per cent of the local demand, witnessed a 12.1 per cent compound annual growth over the last five years. The market size was Tk 27,500 crore as of June 2021.

Source: https://www.thedailystar.net/business/economy/news/pharma-food-see-sharpest-profit-growth-2988446

Contactless debit cards get BB nod

Bangladesh Bank yesterday gave the green light to rollout contactless debit and prepaid cards with a view to push digital transactions in the country. Contactless cards facilitate payment just by waving them at the point of sale terminal without the need for any signature or PIN verification.The central bank introduced the technology for credit cards in July 2018 for the first time in the country.Payments amounting up to Tk 3,000 can be made using the contactless method, and it is up to the customer if they want to complete the payment through this mode or the regular method of signing or keying in the PIN number.Banks in Bangladesh issued 2.56 crore debit cards and 11.98 lakh prepaid cards as of January this year.

Source: https://www.thedailystar.net/business/organisation-news/news/contactless-debit-cards-get-bb-nod-2988421

EBL launches dual-currency debit cards with Mastercard

Eastern Bank Limited (EBL), in association with Mastercard, has launched two dual-currency debit cards- ‘World’ and ‘Titanium’. Cardholders can now endorse their passports under the travel quota and make international transactions with these debit cards anywhere, any time.

Source: https://today.thefinancialexpress.com.bd/trade-market/ebl-launches-dual-currency-debit-cards-with-mastercard-1647965432