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

Click to Close

Rate last updated: 02/01/2014 11:15:04 AM

Daily Business News Flash October 11, 2020

BKB seeks Tk 103b zero-coupon bond

The Bangladesh Krishi Bank (BKB) has requested the government to issue redeemable zero-coupon bond worth Tk 103.18 billion to meet its capital shortfall. Officials said the state-owned BKB has sought the redeemable 10-series zero-coupon bond under re-capitalisation at a 4.0-per cent yield. The product’s maturity period will be 10 years from the date of issuance. It will be paid in 10 equal instalments, Tk 12.72 billion, including yield annually. According to a government instruction, the BKB gives loans to crop, fisheries and livestock sectors at a maximum of 9.0-per cent interest rate, although the cost of fund is 9.78 per cent (provisional). Zero-coupon bond is needed to meet the bank’s existing capital shortfall to fulfill the extended farm credits and expedite the rural economy, added the letter. According to the Bangladesh Bank, the BKB had a capital shortfall of more than Tk 103.18 billion (provisional) as of June 2020. The disbursement of farm loans by the BKB has surpassed its target in the last fiscal year. It achieved 113 per cent of its target set by the central bank. The total target was fixed for the bank at Tk 55 billion for fiscal year (FY) 2019-20, according to the data available with the central bank. The regulator has set for the bank a Tk 60-billion agriculture credit target for FY 2020-21. The bank disbursed more than Tk 23.81 billion among 0.185-million families in FY 2019-20. It has disbursed over Tk 9.97-billion loans or 83.19 per cent against target under the central bank’s ‘special incentive re-financing scheme’ for flower, fruit, grain, fish, poultry, dairy farm and livestock sectors until October 07, 2020.

Source: https://today.thefinancialexpress.com.bd/trade-market/bkb-seeks-tk-103b-zero-coupon-bond-1602341302

Mutual funds to play bigger role in stock market

The Bangladesh Securities and Exchange Commission (BSEC) is anticipating mutual funds’ contribution in stock market capitalisation to balloon from some 3 per cent at present to 20 per cent. The sector should hold strong to help the stock market gain strength and also meet higher demands of private investment in coming years. The private sectors needs the investment-GDP ratio to rise by 10 per cent to meet the government’s targeted economic development and the capital market could mobilise a large part of the massive investment demand, Rahman said. They did so despite having the scope to invest up to 40 per cent of their funds into risk-free money market instruments and 30 per cent into fixed income investment grade corporate bonds. Some chose to pay dividends for years while incurring losses, which ultimately eroded their capital, he added. Titled “Importance of Mutual Fund Industry in the Capital Market as well as in the Economy of Bangladesh”, the webinar was organised by the Association of Asset Management Companies and Mutual Fundsin observance of World Investors Week 2020.

Source: https://www.thedailystar.net/business/news/mutual-funds-play-bigger-role-stock-market-1975929

ICB AMCL approves 50pc cash dividend in AGM

The 20th Annual General Meeting of ICB Asset Management Company Limited (a subsidiary of ICB) was held on a digital platform Saturday. The meeting was presided over by Dr. Mojib Uddin Ahmed, Chairman of the Board of Directors of the company. Chief Executive Officer A. T. M. Ahmedur Rahman and other directors/shareholders of the company were also present in the meeting. Directors’ Report to the shareholders and annual accounts of the Company for 2019-2020 were approved in the meeting. During 2019-2020, the company earned a net profit of Tk 435.2 billion (43.52 crore). Earnings per share of Tk. 100.00 stood at Tk. 110.53. The shareholders approved 50 per cent cash dividend (including 40% interim) per share for 2019-2020.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/icb-amcl-approves-50pc-cash-dividend-in-agm-1602342957

Southeast Bank launches “Tahqiq”

Southeast Bank Ltd recently launched “Tahqiq”, a risk-based internal audit system (RBIAS) in its ICC Division. Millennium Information Solution Limited (MISL) developed the system which will help the Bank achieving a competitive edge through a more efficient auditing process, automating the ICC department functions and branch-wise as well as department-wise risk grading, said a statement of MISL. The launching of “Tahqiq” (RBIAS) was held through a virtual “Go Live” ceremony on October 8 last. By implementing this system, SEBL will be able to bring significant efficiency in its Audit and ICC department. The other benefits include paperless and automated Audit Planning, Operation, and Compliance, comprehensive Risk Grading engine with easy integration with CBS and HRIS and installation of executive dashboards which will show real-time audit operations & compliance status.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/southeast-bank-launches-tahqiq-1602342444

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 28,586.90
↑ 161.39↑ 0.57 %
FTSE100$ 6,016.65↑ 38.62↑ 0.65 %
Nikkei 225$ 23,619.69↓ 27.38↓ 0.12 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 40.60↓ 0.59↓ 1.43 %
Crude Oil (Brent)$ 41.94↓ 0.71↓ 1.66 %
Gold Spot$ 1,930.40↑ 36.58↑ 1.93 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 84.8050
GBP 1BDT 109.5850
EUR 1BDT 99.7646
INR 1BDT 1.1565





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