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 16, 2023

Bangladesh Bank asks banks to ensure timely disposal of money suits

The Bangladesh Bank (BB) Wednesday instructed the banks to take measures for timely disposal of the cases pending with Artha Rin Adalat or money loan court-incidentally, when banks reportedly feel liquidity crunch. Banking Regulations and Policy Department of the Bangladesh Bank issued a notification on the day with this direction. In the notification, the central bank mentions that a separate court has been formed for quick settlement of financial-loan cases through the Money Loan Court Act 2003. According to a report of the Bangladesh Bank at the end of June 2023, there were 72540 cases pending with Tk 1.78 trillion trapped. Six months ago at the end of December, Tk 1.67 trillion was stuck in the money-loan court against 72189 pending cases. A year ago in June-2022, against 69369 cases Tk 1.53 trillion worth of money was stuck in the court proceedings. Non-performing loans (NPL) held by debtors hang out as one of staggering problems the country’s banking sector suffers from, and development financiers, including the IMF, prod for a remedy through reforms.

Source: https://today.thefinancialexpress.com.bd/first-page/bb-asks-banks-to-ensure-timely-disposal-of-money-suits-1700072354

Summit Towers Ltd buys 2,000 towers from Banglalink for Tk 1,100cr

Summit Towers Ltd, a company of Summit Communications Group, is buying 2,000 towers of Banglalink for Tk 1,100 crore, a development that could intensify competition in the tower infrastructure businesses in Bangladesh. The proceeds from the sale will primarily be used to service Banglalink’s financial commitments and generate cost efficiencies while freeing up resources for the company’s digital expansion. Banglalink, which has 6,034 towers currently, will transfer a third of them to Summit Towers, raising the number of sites under the management of the Bangladeshi company to above 4,000. The acquisition of new towers by Summit will accelerate competition in the tower business in the country where edotco Bangladesh is a market leader.

Source: https://www.thedailystar.net/business/news/summit-buys-2000-towers-banglalink-tk-1100cr-3470606

 Bangladeshi company M/s CIP Limited to invest $6.23 million in Mongla EPZ

Bangladeshi company M/s CIP Limited is going to set up a bag and luggage manufacturing industry in Mongla EPZ with an investment of $6.23 million. They signed an agreement with Bangladesh Export Processing Zones Authority (BEPZA) to this effect at BEPZA Complex, Dhaka on 15th November. CIP Limited will produce annually 9.5 million pieces of backpack, soft luggage, hard luggage, duffle, trolley, school bag and ladies handbag. 1550 Bangladeshi nationals will get employment opportunity in this company. Demand for investment in Mongla EPZ increased after the launching of the Padma Bridge and vibrant operations of Mongla Port. Mentionable, 31 industries have been operating their business in Mongla EPZ where 15,062 Bangladeshi nationals are employed.

Source: https://www.tbsnews.net/economy/bangladeshi-company-ms-cip-limited-invest-623-million-mongla-epz-739970

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 34,991.21
↑ 163.51↑ 0.47 %
FTSE100$ 7,486.91↑ 46.44↑ 0.62 %
Nikkei 225$ 33,318.24↓ 201.46↓ 0.60 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 76.05↓ 0.61 ↓ 0.80 %
Crude Oil (Brent)$ 80.54 ↓ 0.64↓ 0.79 %
Gold Spot$ 1,961.94↑ 2.09↑ 0.11 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 111.0000
BDT 111.0000

*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