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

Click to Close

Rate last updated: 02/01/2014 11:15:04 AM

Daily Business News Flash March 31, 2021

Central bank frames policy on startup financing

The Bangladesh Bank (BB) has formulated a policy relating to the disbursement of funds worth Tk 5.0 billion for startups. The disbursement of funds to the startup clients will be made collateral-free. The central bank’s SME and Special Programmes Department issued a circular detailing the policy on Monday. The BB would form the Tk 5.0-billion refinancing fund to help the country’s startups. Banks will disburse money from the fund to the startups. Besides, the commercial banks will constitute their own and separate funds for the startups. Individual banks will form their own funds with money equivalent to 1.0 per cent of their respective operating profits for the year 2020. The banks will formulate separate policies to this end, to be approved by their respective boards. The highest ceiling for loan from the fund will be Tk 10 million having a maximum of five-year repayment period. The startups concerned will get a grace period of one year to repay loans, either in quarterly or semi-annual basis. Educational certificates of the startups entrepreneurs will be treated as collateral for loans. Each bank will preserve 10 per cent quota for women entrepreneurs. According to the BB, startup means innovations for marketing new products, services and technologies, and such enterprises would create employment and assets in the country. Meanwhile, the Startup Bangladesh Limited, a platform to support new business ideas, will provide 50 startups with Tk 1.0 billion venture capital within this year, marking the birth centenary of Bangabandhu Sheikh Mujibur Rahman.

Source: https://today.thefinancialexpress.com.bd/first-page/central-bank-frames-policy-on-startup-financing-1617126051

Dhaka Bank wins AsiaMoney award

Dhaka Bank has recently been presented a “Best Corporate and Investment Bank of Bangladesh 2021” title by global financial publication AsiaMoney for “comprehensive coverage from corporate clients to investment banking and capital markets” and riding out the pandemic. It recently introduced blockchain, web-based service Dhaka Bank TradeCloud and automated invoice and distributor financing solution Dhaka Bank Bills2Cash.

Source: https://www.thedailystar.net/business/news/dhaka-bank-wins-asiamoney-award-2069277

Humaira Azam becomes first female MD of a commercial bank

Humaira Azam has become the first female managing director of a commercial bank in Bangladesh after Trust Bank appointed her to the top job. Trust Bank, a private sector lender, took the decision on Monday and the hiring is subject to the approval of the central bank.Ms. Humaira started her banking career as a management trainee officer at ANZ Grindlays Bank in 1990.Later, she worked at various local and foreign banks, and non-bank financial institutions (NBFIs). In 2009, she was appointed as managing director of IPDC Finance Ltd. She was given the top job at a time when the NBFI was facing troubles because of a large amount of defaulted loans.Trust Bank recruited her as an additional managing director in 2018. Currently, she is serving the private commercial lender as an acting managing director.

Source: https://www.thedailystar.net/business/news/humaira-becomes-first-female-md-commercial-bank-2069329

SMEs need credit the most

Bangladesh Bank has identified 13 sectors of the economy that have been severely affected by the first wave of the coronavirus pandemic, including travel and tourism, readymade garments, textile and small and medium enterprises. They were identified in a central bank survey involving the country’s 59 banks.As much as 51 banks thought that travel and tourism were “dreadfully affected”. Forty-seven banks identified the garment and textile sector, 45 banks identified SMEs, 32 banks identified real estate and construction, and 28 banks identified education as the dreadfully affected.The RMG and textile sector was the second highest credit-deserving sector as per 53 banks. The sector faced export orders cancellations and lower demand owing to uncertainty and continuation of the pandemic’s spread in advanced economies. Some 42 respondents perceived that the trade and commerce sector had the potential to grow fast and would require more credit to bring its growth momentum back on track.The BCB can be a 30-year development bond. It might be issued both in local and foreign currency to attract local and global investors.The government can also think of bringing the SMEs under a relaxed tax policy. Healthy growth of the SME sector is vital from an employment perspective. The central bank official said a fresh study should be carried out as the second wave of coronavirus infections has already hit the country.

Source: https://www.thedailystar.net/business/news/smes-need-credit-the-most-2069349

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 33,066.96
↓104.41 ↓0.31%
FTSE100$ 6,772.12↑35.95 ↑0.53%
Nikkei 225$ 29,206.04↓212.75 ↓0.72%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 60.84 ↑0.27↑0.45%
Crude Oil (Brent)$ 64.42↑0.28↑0.44%
Gold Spot$ 1,679.18 ↓ 6.02↓0.36%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 84.8045
GBP 1BDT 116.9369
EUR 1BDT 100.0269





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