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 09, 2021

Banking sector reform, subsidy to top agenda

The International Monetary Fund will inquire about Bangladesh’s progress in reforming the local banking and subsidy sectors as well as ongoing vaccination drive as it is set to hold its first dialogue with the government since the coronavirus outbreak. The Article IV consultation to be held from December 5 to 15 will focus on five key areas, namely the banking, subsidy, revenue and exchange rate reforms, the Covid-19 vaccination programme, as well as $3 billion in loans that will be extended to the country over a three-year period. The issue of non-performing loans (NPL) will get priority. Official figures put the NPL rate at about 8.18 per cent in June. But in 2019, the IMF said the ratio of bad assets, which stood at 11.50 per cent in the year, would double as not all sources of problem assets are captured by the central bank’s definition of defaulted loans. The government has set a 6.3 per cent budget deficit target for the current fiscal year, but it may overshoot given the surge in commodity prices internationally. The government has received $940 million from the Asian Development Bank and $500 million from the World Bank to implement the vaccination programme. Another $500 million may come from the Asian Infrastructure Investment Bank and $300 million from Japan.

Source: https://www.thedailystar.net/business/economy/banks/news/banking-sector-reform-subsidy-top-agenda-2225361

S Korean firm to invest $31.17m in Adamjee EPZ

Kido Dhaka Company Ltd, a Dhaka-based South Korean company, is going to establish a high-end garments and sportswear manufacturing industry at Adamjee Export Processing Zone with an investment of $31.17 million. This fully foreign-owned company will annually produce two million pieces of different types of jackets made of cloth, leather, fibre,  and fleece as well as baby warmers, soft shells, sweatshirts, vests, work-wear, coveralls, hospital gowns, and other personal protective equipment, according to a press release. The investment is expected to create job opportunities for 6,040 Bangladeshi workers.

Source: https://www.thedailystar.net/business/economy/industries/investments/news/s-korean-firm-invest-3117m-adamjee-epz-2225346

Walton gets President’s Industrial Dev Award

Electronics giant Walton has been recognised with the ‘President’s Award for Industrial Development 2019’ for its outstanding contribution to the private sector, employment generation and economy of the country. Walton Hi-Tech Industries Limited got the prestigious award as the top organisation in the high-tech industry category this year, says a press release. A total of 19 industrial units under six categories, including Walton, have received the awards this year at a programme held at the Osmani Memorial Auditorium in the city recently. Golam Murshed, Managing Director (MD) and Chief Executive Officer (CEO) of Walton Hi-Tech Industries Limited, received the award on behalf of Walton.

Source: https://today.thefinancialexpress.com.bd/trade-market/walton-gets-presidents-industrial-dev-award-1636398314

 BEZA Dubai-Expo 2020 seminar to attract foreign investors for Bangladesh

The Bangladesh Economic Zone Authority (BEZA) has organised a seminar to attract foreign investors for Bangladesh. The seminar was held at the Bangladesh Pavilion, Dubai Expo 2020 in Dubai on Friday; theme of the seminar was, “Invest in Economic Zones of Bangladesh: Opportunities beyond Boundaries,”. BEZA has brought a wholesale change in the pace of industrialisation by establishing Bhumi Bank. BEZA is working on setting up various special economic zones, including Bangabandhu Sheikh Mujib Shilpa Nagar, with the help of government organisations. Bangladesh’s joint venture agreement with Japan’s Sumitomo Corporation for the establishment of a Japanese economic zone has been described as a turning point for foreign investment in Bangladesh.

Source: https://www.tbsnews.net/economy/beza-dubai-expo-2020-seminar-attract-foreign-investors-bangladesh-326554

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 36,432.22
↑ 104.27 ↑ 0.29 %
FTSE100$ 7,300.40↓ 3.56↓ 0.05 %
Nikkei 225$ 29,374.15↓ 132.90↓ 0.45%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 81.88 ↓ 0.05↓ 0.06 %
Crude Oil (Brent)$ 83.32↓ 0.11↓ 0.13 %
Gold Spot$ 1,823.21↓ 0.97↓ 0.05 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 85.7500
GBP 1BDT 115.7625
EUR 1BDT 99.2042





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