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 17, 2022

How inflation leads to liquidity crunch in banks

Soaring commodity prices have put pressure on bank deposits as people are barely having any money left to park in banks after meeting the increased cost of living, some are even breaking their deposits to have both ends met. On top of this, banks’ increased spending on dollar purchases and an upsurge in credit flows to the private sector are drying up liquidity in the banking system. As per the latest available data from the Bangladesh Bank, the total amount of deposits in the country’s banking sector dropped 6.8% to Tk13.65 lakh crore in August this year from Tk14.65 lakh crore in the same month a year ago. The Bangladesh Bank data shows that the banking sector in the country saw its time deposits and demand deposits plummet markedly in recent months, while credit growth has been on an upward trend.

Time deposits are deposited in the bank for a fixed period of time, while in the case of a demand deposit there is no fixed time period involved. In July this year, the volume of demand deposits was Tk1.75 lakh crore this July, which fell to Tk1.60 lakh crore in the following month.

Source: https://www.tbsnews.net/economy/banking/how-inflation-leads-liquidity-crunch-banks-514774

Dhaka Bank inks issuing bank deal with Exim Bank of India

Dhaka Bank signed an issuing bank agreement with Exim Bank of India under the latter’s Trade Assistance Programme in Dhaka yesterday. Emranul Huq, managing director of Dhaka Bank, and Tarun Sharma, chief general manager and chief financial officer of the Exim Bank of India, signed the agreement at the former’s head office in Gulshan, according to a press release. Through this agreement, Dhaka Bank is going to enhance its existing support for corporate and SME clients’ trade finance needs in India. “The present rising global crisis due to the Russia-Ukraine war has greatly disrupted the supply chain of different items,” said Huq.

Source: https://www.thedailystar.net/business/economy/news/dhaka-bank-inks-issuing-bank-deal-exim-bank-india-3144481

Bangladesh, Brunei agree on energy cooperation

Bangladesh and Brunei Darussalam on Sunday agreed to explore mechanisms for long-term collaboration in the energy sector, particularly in the supply of Liquefied Natural Gas (LNG) and other petroleum products to Bangladesh. Visiting Brunei Sultan Haji Hassanal Bolkiah and Bangladesh Prime Minister Sheikh Hasina agreed for a long-term collaboration in the energy sector, said a joint statement issued after the official talks between the two leaders at the Prime Minister’s Office in Dhaka. “In view of Bangladesh’s growing demand for energy and Brunei Darussalam’s standing as a stable and key regional exporter of energy, both leaders agreed to explore mechanisms for long-term collaboration in the energy sector, particularly in the supply of Liquefied Natural Gas (LNG) and other petroleum products to Bangladesh,” said the statement.

Source: https://www.tbsnews.net/bangladesh/energy/bangladesh-brunei-agree-energy-cooperation-514646

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 29,634.83
↓ 403.89 ↓ 1.34%
FTSE100$ 6,858.79 ↑ 8.52↑ 0.12%
Nikkei 225$26,734.81↓ 355.95↓ 1.31%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$86.19 ↑ 0.58↑ 0.68%
Crude Oil (Brent)$92.31 ↑ 0.68↑ 0.74%
Gold Spot$1,649.20 ↑ 4.73↑ 0.29%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 107.5000
BDT 107.5000

*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