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 18, 2021

Banks push for their higher holdings in Govt securities

Bangladesh’s commercial banks, particularly the primary dealers (PDs), Wednesday urged the central bank to enhance their holdings in government securities to make up for the revaluation losses they count on public-debt instruments. They sought enhancement of maximum limit of statutory liquidity ratio (SLR) under ‘held-to-maturity (HTM)’ category. A six-member PDBL delegation, headed by its chairman Md. Ataur Rahman Prodhan, attended the meeting. At the meeting, the PDBL proposed that the central bank increase the maximum limit of holding the securities of SLR under HTM at 175 per cent instead of the existing level of 135 per cent for minimizing their revaluation losses on the public- debt instruments. Currently, all the PD banks are allowed to meet their SLR with 135 per cent of such securities which are treated as HTM instead of the previous 125 per cent. Under the proposed system, the valuation of treasury bonds, issued from September 01, 2020 to September 30, 2021 and categorised as ‘held for trading (HFT)’ by the PDs, may be re-measured at an ‘amortised cost’, instead of ‘marking-to-market system of valuation.

Source: hhttps://today.thefinancialexpress.com.bd/first-page/banks-push-for-their-higher-holdings-in-govt-securities-1637173474

Institutional investors jack DSE turnover up

Stocks finished almost flat on Wednesday, with turnover crossing Tk 15 billion-mark on the Dhaka bourse, as investors were active on both sides of the trading fence. Following the previous day’s steep rise, the market opened on a positive note and the key index rose 37 points within the first 15 minutes of trading. But, profit booking on banking stocks eroded most of the initial gains. Finally, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up 4.19 points or 0.05 per cent to settle at 7,060. The core index added more than 130 points in the past three consecutive sessions. However, two other indices edged lower. The DSE 30 Index, comprising blue chips, dropped 7.96 points to finish at 2,683. The DSE Shariah Index (DSES) also saw a fractional loss of 0.67 point to close at 1,484. Turnover, a crucial indicator of the market, crossed Tk 15 billion-mark again and amounted to Tk 15.07 billion, which was 1.08 per cent higher than the previous day’s tally of Tk 14.91 billion. Top ten most-traded stocks grabbed over 41 per cent of the day’s turnover. The investors mostly focused on the banking sector, capturing 24 per cent of the day’s total turnover, followed by pharma 13 per cent and textile 10 per cent. The Chittagong Stock Exchange (CSE) also edged higher with the CSE All Share Price Index – CASPI -gaining 3.75 points to settle at 20,642 and the Selective Categories Index – CSCX– rising 2.97 points to close at 12,410. Of the issues traded, 128 advanced, 127 declined and 34 remained unchanged on the CSE.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/institutional-investors-jack-dse-turnover-up-1637163300

Islamic investment bond’s net balance hits all-time high of Tk157bn

The balance swelled by 145.31% year-on-year from Tk64 billion in FY20, according to data from the Bangladesh Bank.  Similarly, sales of Islamic investment bonds increased to over Tk170 billion in FY21, which was Tk132 billion in FY20. On behalf of the government, the Bangladesh Bank issued its maiden sovereign investment Sukuk on 28 December in 2020 to raise Tk80.00 billion for the implementation of a safe water supply project across the nation. Total deposits of Islamic banking amounted to Tk3765.78 billion in July-September in FY22 with an increase of Tk84.15 billion or 2.29% as compared with the last quarter of FY21. And, the deposits registered 17.82% growth year-on-year. The share of total deposits of Islamic banks accounted for 25.75% of total deposits and the investment accounted for 28.37% of the whole banking sector.

Source: https://www.tbsnews.net/economy/islamic-investment-bonds-net-balance-hits-all-time-high-tk157bn-331195

Processed food market worth $5.8b by 2030: FICCI

With the huge potential of Foreign Direct Investment (FDI) and the repeated private sector interventions in the country’s agribusiness, the local processed food market will be worth $5.8 billion by 2030, said a report by the Foreign Investors Chamber of Commerce and Industry (FICCI). According to the report, 68% of the country’s population will live in the cities by 2050 and this will increase the demand for processed food. In addition, 34 million people are going to be in the middle and affluent class by 2025, which will also accelerate the expansion of the processed food market. The changing pattern of lifestyle is increasing the trend day by day. Urbanisation affects food consumption patterns— higher urban income is reflected in increased demand for processed food and meat by 2050. Agricultural production will need to increase by 70% due to increase in population. The country’s 8th Five Year Plan aims to accelerate economic development and align it with its ambitions through stronger trade and investment. In accordance with the plan the target increases by 2025 in FDI is by six times, export by 66% and private investment to GDP by 15%.

Source: https://www.tbsnews.net/economy/industry/processed-food-market-worth-58b-2030-ficci-331177

 Community Bank wins 3 Infosys-Finacle Innovation awards

Community Bank Bangladesh Limited has won the Infosys-Finacle Innovation Awards 2021 under the channel innovation for financial inclusion leveraging technology, Covid response innovation for innovative banking during the pandemic and ecosystem-led innovation for customer service anytime anywhere categories. The bank has won the awards due to the roll out of its ‘digital-first’ strategy to serve its customers through alternate delivery channels. Infosys received 270 nominations in 10 categories from reputed banks all over the world, of which, from Bangladesh Community Bank received three awards in different categories.

Source: https://www.newagebd.net/article/154943/community-bank-wins-3-infosys-finacle-innovation-awards

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 35,931.05
↓ 211.17↓ 0.58 %
FTSE100$ 7,291.20↓ 35.77↓ 0.49 %
Nikkei 225$ 29,417.00↓ 271.33↓ 0.91 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 77.53↓ 0.83↓ 1.06 %
Crude Oil (Brent)$ 79.84↓ 0.44↓ 0.55 %
Gold Spot$ 1,865.07↓ 2.41↓ 0.13 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 85.8000
GBP 1BDT 115.2380
EUR 1BDT 97.1513





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