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 29, 2022

Foreign firms, JVs in EZs get permission to take loans in taka

Bangladesh Bank (BB) has allowed foreign firms and joint ventures (JVs) located in the economic zones (EZs) to take working capital loans in taka from the domestic banking system for their operations catering for the local market. “Industrial enterprises operating in the domestic processing areas of the economic zones do not have sources of income in foreign currencies. To facilitate the business, the central bank issued a circular in October 2020, allowing them to execute transactions in the taka without export/import procedures and remit the payment on account of royalty, technical know-how and technical assistance fees from their taka accounts respectively,” as per a BB circular issued on Monday. To further meet their working capital needs, it has been decided that Type A and Type B industrial enterprises operating for marketing their products in the domestic market only and with no sources of income in foreign currencies are allowed to access working capital loans in the taka from the local banking system, reports BSS citing the circular. Firms with 100 per cent foreign ownership are considered ‘Type A’ and joint venture companies with foreign and Bangladeshi ownership are treated as ‘Type B’.

Source: https://www.thedailystar.net/business/economy/news/ncc-islamic-banking-launched-3181156

No liquidity crisis in banks: BAB

Bangladesh Association of Banks (BAB), an organisation of entrepreneurs and directors of private banks, in a statement has said that there is no liquidity crisis in the banks at present. In a statement issued on Monday, BAB said that there is a negative campaign going on over the liquidity crunch in the banking sector. But this is not true; liquidity in the banks is stable, it said. Chairman of BAB and Exim Bank, Nazrul Islam Majumder, signed the notification, reports UNB. There is a liquidity of Tk 1.70 trillion remaining in the banking sector at present, which is more than the requirement, he said. BAB issued the statement after discussing the current situation of the banking sector in a meeting.

Source: https://thefinancialexpress.com.bd/economy/no-liquidity-crisis-in-banks-bab-1669633516

Cabinet directs to verify news, information being shared about banking sector

The Cabinet on Monday directed the authorities concerned to verify the accuracy of the videos and news seen on social media and newspapers about the current situation in the banking sector. The direction came at the Cabinet meeting with Prime Minister Sheikh Hasina in the chair at the PMO, said Cabinet Secretary Khandker Anwarul Islam, while briefing the media at the Secretariat.  The cabinet secretary said different types of videos are being viewed on social media about the current situation of the banking sector. “An explanation has been sought from the authorities concerned to verify the accuracy of these videos”, he added. Meanwhile, after the secretaries’ meeting on Sunday, the cabinet secretary told reporters that there was an indirect discussion about this and instructions were given to the banking and finance division to expose the real scenario.

Source: https://www.tbsnews.net/bangladesh/cabinet-directs-verify-news-information-being-shared-about-banking-sector-540942

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 34,347.03
↑ 152.97 ↑ 0.45%
FTSE100$ 7,486.67↑ 20.07 ↑ 0.27%
Nikkei 225$ 28,283.03↓ 100.06↓ 0.35%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 73.98↓ 2.30↓ 3.02%
Crude Oil (Brent)$ 81.24 ↓ 2.39 ↓ 2.86%
Gold Spot$ 1,749.82 ↓ 5.11↓ 0.29%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 103.5000
BDT 103.5000

*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