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 November 02, 2022

Dollar crisis to go by next June

Bangladesh Bank is anticipating the pressure on the balance of payments will blow over by the end of this fiscal year thanks to hearty assistance from development partners –– an outlook termed wishful by economists. At the end of this fiscal year, the balance of payment deficit will be just $150 million in contrast to $5.4 billion at the end of June, according to the central bank’s latest projection, which was prepared last month. The recovery will be thanks to generous project aid and budget support, record remittance inflows and export receipts, according to documents seen by The Daily Star. As per the outlook, exports will hit $55 billion in fiscal 2022-23, up 11.8 percent year-on-year. Remittance will cross the $25 billion-mark for the first time. Last fiscal year, remittance inflows amounted to $21.7 billion. A record $16 billion will come in from development partners in budget support and regular aid disbursements and foreign direct investment, up from $13.7 billion last fiscal year.

Source: https://www.thedailystar.net/news/bangladesh/news/dollar-crisis-go-next-june-3158151

BSEC gives in to use of cheques in stocks trade

The Bangladesh Securities and Exchange Commission yesterday revoked for a second time an order which had stipulated that investors could buy shares only against funds already present in beneficiary owners’ accounts. The decision was taken against demands from stakeholders for keeping valid the use of cheques. In 2010, the BSEC ordered all brokers and merchant banks to buy shares on behalf of investors only when the latter’s cheques were honoured and the fund available in the respective beneficiary owners’ accounts. However, the order was revoked just two days after it was issued. In recent months several investors, including some who had no funds available, were found to have bought and sold shares in quick successions with cheques that were later dishonoured. This prompted the BSEC to pass an order in September stipulating that shares could be bought only when funds were available in accounts.

Source: https://www.thedailystar.net/business/economy/stock/news/bsec-gives-use-cheques-stocks-trade-3158266

Al-Arafah Islami Bank gets new AMD

Al-Arafah Islami Bank promoted its deputy managing director to the post of additional managing director (AMD). The promotee, SM Jaffar, previously served National Bank and Premier Bank in his long professional career, a press release said. Jaffar started his banking career with Arab Bangladesh Bank as a probationary officer in 1985. He completed his graduation in business administration. 

Source: https://www.thedailystar.net/business/economy/news/al-arafah-islami-bank-gets-new-amd-3156386

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 32,653.20
↓ 79.75 ↓ 0.24%
FTSE100$ 7,186.16↑ 91.63↑ 1.29%
Nikkei 225$27,649.20↓ 29.72↓ 0.11%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$89.55 ↑ 1.18↑ 1.34%
Crude Oil (Brent)$95.72 ↑1.07↑ 1.13%
Gold Spot$1,651.58↑ 3.60↑ 0.22%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 103.1000
BDT 104.3489

*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