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 18, 2022

Dollar price jumps over Tk100 mark

US dollar price now jumps over Tk 100 mark for the first time in Bangladesh, prompting the central bank to begin a probe into the unusual exchange-rate hike. A brigade of 12 inspection teams of Bangladesh Bank started on-site inspections into alleged ‘distortion’ to foreign-exchange rate by some banks. Rate distortion means banks charge higher price of the US currency bypassing their announced rates particularly for BC (bills for collection) selling and TT (Telegraphic Transfer) clean, they explained. At least 20 banks, including four state-owned commercial banks, have been included in the list for the inspection, according to the officials. They also said the central bank would take next course of action against the banks after receiving the inspection reports. The US dollar was quoted at maximum of Tk 87.60 each for the sale of bills for collection, generally known as BC, on the day–unchanged from the previous level. Some banks, however, traded the US currency ranging between Tk 95 and Tk 96 for settling import-payment obligations of their customers, according to the operators. On the other hand, the banks quoted dollar at Tk 86.60 on the day–unchanged from the previous working day–to remitters for TT of their funds. Some banks which are handling lower export business offer higher rates to exporters for purchasing export proceeds, they added. In some cases, the banks quoted the US dollar between Tk 92 and Tk 93 for purchasing export proceeds instead of Tk 86.70.

Source: https://today.thefinancialexpress.com.bd/first-page/dollar-price-jumps-over-tk100-mark-1652810430

25% of Govt procurement must come from CMSMEs

A new law is being formulated making it mandatory for the government to make at least 25% of its procurement from the domestic cottage, micro, small and medium enterprises (CMSMEs). It would relax the condition of the open tender method, and some other obligations such as publishing tender notices in newspapers and paying tender prices by suppliers. The proposed law would ensure the provision of 50% advance payment to suppliers, sharing of work among participating companies and pricing through negotiations. The industries ministry has finalised the draft of the “Sub-Contracting Act 2022” to meet the global challenges arising from the fourth industrial revelation and to accelerate the pace of industrialisation in the country. Under the new law, small entrepreneurs will be able to supply imported goods and parts as domestic products with at least 50% value addition. Apart from that, required financial and technical support would be provided to the companies interested in acquiring the capacity to produce items not manufactured in the country.

Source: https://www.tbsnews.net/economy/25-govt-procurement-must-come-cmsmes-421782

Vice Chairman of Uttara Bank re-elected

Mr. Iftekharul Islam, the Managing Director of Aftab Group, has been re-elected the Vice Chairman of the Board of Directors of Uttara Bank Limited. He is also Vice Chairman of the Executive Committee and Chairman of the Risk Management Committee. Mr. Iftekharul Islam is also the Chairman of Uttara Bank Securities Limited (Brokerage House) a subsidiary company of Uttara Bank Limited & UB Capital and Investment Limited a Merchant Bank which is also a subsidiary company of Uttara Bank Limited. He is also a member of the Executive Committee and general body of Bangladesh Association of Banks.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/new-amd-of-jamuna-bank-1652717598

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 32,654.59
↑ 431.17↑ 1.34 %
FTSE100$ 7,518.35↑ 53.55↑ 0.72 %
Nikkei 225$ 26,839.20↑ 179.45↑ 0.67%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 113.32↑ 0.92↑ 0.82 %
Crude Oil (Brent)$ 112.37↑ 0.44↑ 0.39 %
Gold Spot$ 1,808.86↓ 6.30↓ 0.35 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 87.5000
GBP 1BDT 107.8088
EUR 1BDT 91.3063

*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