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 May 16, 2024

Bangladesh expands offshore banking in hunt for forex

Offshore banking is increasingly becoming a key window for banks in Bangladesh to facilitate investments and international trade by attracting deposits in foreign currencies. Industry people say offshore banking can even play a crucial role in mitigating the persisting foreign currency crisis in the country by extending liquidity support and stabilising the local currency. The central bank has allowed domestic banking units to receive funds from OBOs up to 40 percent of their regulatory capital to settle payment obligations. Currently, about 40 banks have offshore units. At the end of September, the total outstanding loans of OBUs stood at Tk 83,826 crore.

Source: https://www.thedailystar.net/business/news/bangladesh-expands-offshore-banking-hunt-forex-3610946

Bangladesh targets $110b export by FY’27

The country’s semiconductor sector can be a $10 billion industry by 2041, State Minister for Posts, Telecommunications and Information Technology Zunaid Ahmed Palak said on 15th May. the year 2041 has been set as the target, keeping in line with the government’s commitment to transforming the nation into a developed and sustainable one, as outlined in its “Smart Bangladesh Vision 2041.”  The government also wants to position Bangladesh as an upper middle income country by 2031 and a developed country by 2041. The state minister said the government wants to produce some 50,000 chip designers in the country to let the design industry flourish. He also hoped for fiscal allocation for the potential sector.

Source: https://www.tbsnews.net/economy/semiconductor-sector-can-be-10b-industry-2041-palak-852111

EBL, US State Department to jointly work on climate change adaptation

Eastern Bank (EBL) and the US Department of State have signed an agreement to collaborate on the ‘EBL Climate Change Adaptation Award’. This annual award will recognise and celebrate best practices by Bangladeshi corporations, manufacturers, NGOs and climate activists for their leadership in implementing climate change adaptation projects and initiatives. The agreement was signed on Wednesday at the EMK Center in Dhaka by visiting Assistant Secretary of State for South and Central Asian Affairs Donald Lu and EBL’s Acting Managing Director Ahmed Shaheen. The award programme encompasses a wide range of sectors and themes, including renewable energy, water conservation, sustainable agriculture, urban resilience, biodiversity protection and disaster preparedness.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/ebl-us-state-dept-to-jointly-work-on-climate-change-adaptation-1715789183

Mr. K A R Mostafa Kamal new DMD of IFIC Bank

Mr. K A R M Mostafa Kamal has been appointed deputy managing director and chief human resources & logistics officer of IFIC Bank recently. Mr. Kamal previously served as the bank’s head of Human Resource Management. He joined IFIC Bank in June 2015 as senior executive vice president and head of HR. He began his professional career as a young officer in the Bangladesh Army, where he served for 34 years.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/mostafa-kamal-new-dmd-of-ific-bank-1715789205

Southeast Bank distributes special CSR fund

Southeast Bank distributed its special CSR fund to farmers for crop cultivation and the purchase of farming machinery. Mr. Nuruddin Md Sadeque Hossain, managing director of Southeast Bank, presented financial assistance to grassroots farmers from across the country at the bank’s head office. POPI, a non-governmental development organisation, facilitated the distribution of the funds to the farmers.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/southeast-bank-distributes-special-csr-fund-1715789287

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 39,908.00
↑ 349.89↑ 0.88 %
FTSE100$ 8,445.80↑ 17.67↑ 0.21 %
Nikkei 225$ 38,695.59↑ 309.86↑ 0.81 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 79.02↑ 0.39↑ 0.50 %
Crude Oil (Brent)$ 83.11 ↑ 0.36↑ 0.44 %
Gold Spot$ 2,389.55↑ 3.56↑ 0.15 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Inter-Bank Exchange Rates
CurrencyLowestHighestCurrent WAR

*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