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 28, 2021

WB gives $250m for faster recovery from pandemic

The World Bank approved $250 million on March 26 to help Bangladesh effectively respond to the Covid-19 pandemic for a faster recovery and stronger resilience to future crises.The Third Programmatic Jobs Development Policy Credit — the last in a series of three credits — is supporting the Bangladesh government to develop stronger policies and institutional framework to modernise the trade and investment regime; improve social protection for workers; and help youth, women and vulnerable population access quality jobs.This financing will support the government in its efforts to protect the earnings of workers affected by the Covid-19 crisis and enable firms to continue paying their workers’ wages.Overall, it will support government programmes to protect over 5 million jobs as part of the government’s near-term response to the crisis, while laying the groundwork to accelerate recovery and build resilience.With this programme, the total World Bank’s financing to the Programmatic Jobs Development Policy Credit series stands at $750 million.Bangladesh currently has the largest ongoing IDA programme totaling over $14 billion. The World Bank was among the first development partners to support Bangladesh and has committed more than $35 billion in grants, interest-free and concessional credits to the country since its independence.

Source: https://www.thedailystar.net/business/news/wb-gives-250m-faster-recovery-pandemic-2067937

SME Foundation to hand Tk 100cr to small businesses

The SME Foundation will disburse Tk 100 crore as a government incentive to small and medium entrepreneurs in the current fiscal year to help them recover from the damages caused by the pandemic. It will also hand over Tk 200 crore more in the next financial year, said Masudur Rahman, chairperson of the foundation.Some 10,199 entrepreneurs have benefited from SME Foundation’s multifaceted activities related to product marketing, skills development and market expansion of products produced at home and abroad in 2019-20 financial year. The participating SME entrepreneurs of the eighth National SME Products Fair held in 2020 sold products worth Tk 4.95 crore and received orders for Tk 6.38 crore, said Sattar. The audited financial statement of the foundation, auditor’s report and its budget for 2021-22 financial year were approved at the meeting.

Source: https://www.thedailystar.net/business/news/sme-foundation-hand-tk-100cr-small-businesses-2067945

1,320MW Payra plant awaits inauguration

A coal-fired Payra power plant of 1,320 megawatts (MW) in Dhankhali area under Kalaparaupazila of Patuakhali district is awaiting inauguration.Some 163 kilometres (km) of transmission lines connect the plant to a Gopalganj grid. Another 85km of lines are being set up to take it up to Amin Bazar in Dhaka. The power plant’s first unit has been supplying 660MW of electricity to the national grid since May 15 last year after being constructed in four years. The second unit started production on December 8, 2020.The plant is currently generating 1,000MW on an experimental basis, burning through some 13,000 tonnes of coal a day, generating 180 tonnes of fly and bottom ash as byproducts.The plant has a 76.30 acre dumping zone where 25 years’ byproduct can be kept. This company built the plant on 982.77 acres of land at a cost of around Tk 20,000 crore or $2.46 billion. Of the amount, $1.96 billion has been loaned by The Export-Import Bank of China.

Source: https://www.thedailystar.net/business/news/1320mw-payra-plant-awaits-inauguration-2067965

Export dev fund being raised to $5.5b

Bangladesh Bank has decided to increase the size of its export development fund (EDF) as it reaches out to businesses tackling slowdowns from a recent resurgence in daily Covid-19 cases, the highest since last July. The fund will come to stand at $5.5 billion upon the addition of $500 million. The fund last saw a raise in April 2020 from $3.50 billion soon after the coronavirus was first detected in the country.In addition, the central bank is allowing “Type-B” companies of export processing zones (EPZs) to avail foreign currency loans from the fund since last week. Firms with 100 per cent foreign ownership are considered “Type-A”. Joint venture companies with foreign and Bangladeshi ownerships are treated “Type-B” and those with 100 per cent Bangladeshi ownerships “Type-C”.Banks now receive the fund from the central bank at 0.75 per cent interest rate and will be allowed to charge borrowers a maximum 1.75 per cent. The previous rate was 2 per cent. The revolving fund was introduced in 1989 by way of taking support from World Bank. The central bank, however, injected money 2-3 years later. The whole fund now comes from the central bank’s foreign exchange reserves. The swelling of foreign exchange reserves to more than $43 billion at present also influenced the central bank’s recent decisions.

Source: https://www.thedailystar.net/business/news/export-dev-fund-being-raised-55b-2067997

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 33,072.88
↓453.40 ↓1.39%
FTSE100$ 6,740.59↑65.76 ↑0.99%
Nikkei 225$ 29,176.70↑446.82 ↑1.56%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 60.97 ↓2.41↓4.12%
Crude Oil (Brent)$ 64.57 ↓2.62↓4.23%
Gold Spot$ 1,732.52 ↓ 5.59↓0.32%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 84.8020
GBP 1BDT 116.1109
EUR 1BDT 100.1851





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