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 October 04, 2021

BB asks FIs to keep provision against ‘other assets’

All unadjusted prepaid entries, unadjusted prepaid legal expenses, protested (uncollectible debt) bills and other expenses or losses of financial institutions are now shown as ‘other assets’, classified as bad or lost. A central bank circular, issued Sunday, says the FIs concerned must maintain provisioning of up to cent per cent against such dud money or asset. The circular, issued from the Department of Financial Institutions and Markets of Bangladesh Bank, says these instructions will be effective from the quarter ended September 2021.According to the notification, any prepaid expenses for salary and allowances, travelling, entertainment, advertisement and business development etc that remain unadjusted for 12 (twelve) months or beyond will be classified as ‘bad and loss’ and 100-per cent provision must be maintained.Financial Institutions will submit classification and provisioning statement of other assets within 30 days after the end of the each quarter to the Department of Financial Institutions and Markets of Bangladesh Bank and upload the same in enterprise-data warehouse (EDW) of Bangladesh Bank. Financial Institutions will ensure reflection of the position of ‘other assets’ classification and provisioning in annual financial statements as per the dos laid out in this circular.

Source: https://today.thefinancialexpress.com.bd/first-page/bb-asks-fis-to-keep-provision-against-other-assets-1633285639

BSEC okays Tk 150m IPO of BD Thai Food

The securities regulator has approved the initial public offering (IPO) proposal of BD Thai Food and Beverage Ltd to raise Tk 150 million from the capital market. The Bangladesh Securities and Exchange Commission (BSEC) endorsed the company’s IPO proposal at a commission meeting on Sunday – presided over by BSEC Chairman Prof. ShibliRubayat-Ul-Islam, according to a press release. As per the BSEC approval, BD Thai Food will offload 15 million ordinary shares at an offer price of Tk 10 each – under the fixed price method. The company will utilise the IPO proceeds for purchasing machinery and equipment, land development, building construction, and bearing the IPO expenses. According to the financial statement for the year ending on June 30, 2020, the company’s net asset value (NAV) per share (NAV without revaluation) was Tk 12.82 and (NAV with revaluation) Tk 14.23, and the weighted average earnings per share (EPS) for the last five years stood at Tk 0.63.Incorporated in 2010, BD Thai Food and Beverage Limited (BTFBL) is a concern of BD Thai Group. The company is engaged in producing beverage, confectionary and spice items. In Sunday’s meeting, the BSEC also allowed Union Bank Ltd to distribute 15 per cent IPO shares to its employees with a lock-in period of two years.

Source: https://today.thefinancialexpress.com.bd/first-page/bsec-okays-tk-150m-ipo-of-bd-thai-food-1633285681

Central bank eases export trade

Exporters are now allowed to directly dispatch shipping documents of their export consignments to their foreign buyers, as a further measure for facilitating Bangladesh’s external trade. Bangladesh Bank Sunday issued a circular to this effect, asking for bringing the contents of this circular to the notice of the ADs (authorised dealers) constituents concerned. Currently, the ADs are required to pass all shipping documents covering exports from Bangladesh as per declaration on EXP Form within 14 days from the date of shipment as par the chapter 8 of the Guidelines for Foreign Exchange Transactions-2018 (GFET).In terms of FE Circular No. 17, dated April 23, 2019, exporters are required to report transport/shipping information immediately in BB online reporting portal, and submit relevant documents within 14 days from the date of shipment, inter alia. Exporters should adhere to the instructions to observe regulatory compliances as required under the Foreign Exchange Regulation Act 1947.

Source: https://today.thefinancialexpress.com.bd/last-page/central-bank-eases-export-trade-1633285798

‘World Investor Week’ begins today

The Bangladesh Securities and Exchange Commission (BSEC) will observe the fifth ‘World Investor Week 2021’ to create awareness among the general investors. The week begins today (Monday). The stock market regulator will launch the ‘World Investors Week-2021’ in accordance with the declaration of International Organisation of Securities Commissions (IOSCO), a global cooperative of securities regulatory bodies, according to a BSEC statement issued on Sunday.The key message of the IOSCO World Investor Week-2021 campaign is based on two themes: Sustainable Finance and Fraud & Scam Prevention. These messages compliment such online investing, initial coin offerings, and basics of investing, digital learning and online education.On October 5, Association of Credit Rating Agency in Bangladesh and Bangladesh Merchant Bankers Association will organise a programme. On October 6, Chittagong Stock Exchange and Venture Capital and Private Equity Association of Bangladesh will organise a programme. Central Depository Bangladesh Ltd and Central Counterparty Bangladesh Ltd will organise programme on October 7.On October 11, Bangladesh Association of Publicly Listed Companies and Bangladesh Institute of Capital Market and on October 12, Dhaka Stock Exchange (DSE) will organise separate programme.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/world-investor-week-begins-today-1633278378

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 34,326.46
↓482.54 ↓1.43 %
FTSE100$ 7,027.07↓59.35↓0.84%
Nikkei 225$ 28,465.57↓305.50↓1.06%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 75.59↓0.29↓0.38%
Crude Oil (Brent)$ 79.04↓0.24↓0.30%
Gold Spot$ 1,759.11↓1.87↓0.11%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 85.5000
GBP 1BDT 115.8440
EUR 1BDT 99.1629





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