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 27, 2023

Policy rate hiked again as inflation stays high

The central bank yesterday raised the repo rate by 50 basis points to step up its fight against the persisting higher inflation and increased rates that will make loans costlier and give better returns to savers. Now, the policy rate will be 7.75 percent, which will be effective from today. Yesterday’s increase in the repo rate is the eighth hike in the past 19 months as inflation has kept surging. The repo rate is the rate at which the Bangladesh Bank lends money to commercial banks and financial institutions. The banking regulator also increased the margin by 25 basis points to 3.75 percent that banks can add to the SMART (Six Months Moving Average Rate of Treasury Bills) rate when extending loans. Thus, the maximum lending rate of banks will be 11.18 percent from today because the SMART rate stands at 7.43 percent.

Source: https://www.thedailystar.net/business/news/policy-rate-hiked-again-inflation-stays-high-3479581

Sino-Malaysian firm to invest $14.55 million in Bepza EZ

Sino-Malaysian firm Vernon & Oliver Furniture Company Limited will invest $14.55 million at the economic zone of Bangladesh Export Processing Zones Authority (Bepza) to establish a mattress manufacturing industry. The company will produce 1.8 lakh pieces of spring mattress and foam mattress annually and will create job opportunities for 600 Bangladeshi nationals, the Bepza said in a statement today. The Bepza authorities have so far approved 24 enterprises, today’s mattress factory, to establish industries in Bepza economic zone and most of them will produce diversified products. The total proposed investment of these enterprises is $510.2 million.

Source: https://www.thedailystar.net/business/news/sino-malaysian-firm-invest-1455-million-bepza-ez-3479351\

 44 winners receive Mastercard Excellence Awards

Forty-four winners, including several banks and financial institutions, received the MasterCard Excellence Awards 2023 based on their performance and contribution to the financial ecosystem. The winners of the Mastercard Excellence Awards 2023 were announced during a high-profile ceremony in the national capital. The event also marked the 10th anniversary of Mastercard’s Bangladesh office. Being operational in Bangladesh since 1991, Mastercard became the first global payments operator to set up its office in Bangladesh in 2013. In these years, the company has forged many collaborations with various stakeholders to strengthen the country’s digital ecosystem by transforming the payments industry through best-in-class products and solutions. The company has also been committed to furthering financial inclusion and has worked with the government, industry, and social organizations to take digital solutions to the communities at the grassroots. Awards were distributed in 16 categories like xcellence in Mastercard Business (Merchant)- POS 2022-23, Excellence in Mastercard Business (Merchant)- Online 2022-23, Excellence in Mastercard Digital Business 2022-23, Excellence in Financial Inclusion 2022-23, Excellence in Mastercard Business (Innovation) 2022-23, and Excellence in Mastercard Business Growth 2022-23 and others.

Source: https://www.tbsnews.net/economy/corporates/44-winners-receive-mastercard-excellence-awards-746178

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 35,390.15
↑ 117.12↑ 0.33 %
FTSE100$ 7,488.20↑ 4.62↑ 0.06 %
Nikkei 225$ 33,465.06↓ 160.47↓ 0.48 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 74.78 ↓ 0.76 ↓ 1.01 %
Crude Oil (Brent)$ 79.81 ↓ 0.77↓ 0.96 %
Gold Spot$ 2,013.67↑ 12.85↑ 0.64 %

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