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 30, 2024

Loans, deposits rise in Islamic banks despite severe liquidity crisis

Outstanding loans and deposits both increased in full-fledged 10 local Islamic banks in February this year although six of them have been facing severe liquidity crisis for more than a year. Outstanding loans at the 10 banks stood at Tk 455,525 crore, up by Tk 6,452 crore from a month earlier. At the same time, deposits in those banks hit Tk 380,066 crore, up by Tk 4,762 crore from January. Massive loan irregularities have been taking a huge toll on six Islamic banks: Islami Bank Bangladesh, Social Islami Bank, First Security Islami Bank, Union Bank, Global Islami Bank and ICB Islamic Bank. The rest four—Al Arafah Islami Bank, Standard Bank, Exim Bank and Shahjalal Islami Bank—have been doing comparatively well.

Source: https://www.thedailystar.net/business/news/loans-deposits-rise-islamic-banks-despite-severe-liquidity-crisis-3622211

Bangladesh may receive $1.15 billion in the third installment of the IMF loan

Bangladesh may receive $1.15 billion in the third instalment of the International Monetary Fund’s (IMF) loan in the last week of June, which will give a much-needed relief to the country’s dwindling foreign exchange reserves. The proposal for the third tranche will be placed at the executive board meeting of the Washington-based lender for approval on June 24 or June 25. In January last year, the IMF approved the $4.7 billion loan. Bangladesh has received more than $1 billion in two instalments. In December, the central bank was supposed to maintain net international reserves of $17.78 billion. It fell short by more than a billion dollars. This prompted the IMF mission to lower the target. The reserves have fallen to $18.4 billion recently from $41 billion accumulated in August 2021, according to the IMF’s balance of payments and investment position manual.

Source: https://www.thedailystar.net/business/news/imfs-115b-3rd-tranche-likely-late-june-3622261

Relief for consumers as Government may halve source tax on 28 essentials

In a belated yet welcome move, the government is set to halve the source tax to 1% on the supply of 28 essential commodities and food grains, a measure that aims to provide some relief to consumers grappling with persistently high inflation. They mentioned that supply of rice, wheat, potato, onion, garlic, peas, chickpeas, lentils, ginger, turmeric, dry chilli, pulses, maize, flour, whole flour, salt, edible oil, sugar, black pepper, cardamom, cinnamon, cloves, dates, bay leaves, jute, cotton, yarn and all types of fruits will be subject to deduct a 1% tax at source instead of the current 2%. On the other hand, the government is also planning to reduce the total tax incidence to 58.60% from 89.32% on the import of packaged powdered milk weighing up to 2.5kg. Currently, the total tax incidence for bulk quantity importers of powdered milk is 37%.

Source: https://www.tbsnews.net/economy/relief-consumers-govt-may-halve-source-tax-28-essentials-862906

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 38,441.54
↓ 411.32↓ 1.06 %
FTSE100$ 8,183.07↓ 71.11↓ 0.86 %
Nikkei 225$ 38,082.92↓ 473.95↓ 1.23 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 79.28↑ 0.05↑ 0.06 %
Crude Oil (Brent)$ 83.63 ↑ 0.03↑ 0.04 %
Gold Spot$ 2,335.70↓ 2.42↓ 0.10 %

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