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 September 19, 2022

Rural savings pile up on remittance inflow

Total deposits in areas outside the municipalities and city corporations stood at Tk3.4 lakh crore in June this year, up from Tk1.61 lakh crore at the beginning of 2016, according to the latest data released by the Bangladesh Bank. The surge in rural savings is mostly backed by remittance earnings as 90% of the inward remittances are distributed among beneficiaries in rural areas, the central bank’s statistics show.  Moreover, alternative transaction channels such as mobile banking and agent banking have brought financial services to the doorsteps of people living in rural and remote areas, bringing their money into the banking system. 

Source: https://www.tbsnews.net/economy/banking/rural-savings-pile-remittance-inflow-498878

Showing trade license not mandatory for small traders to open bank accounts

Bangladesh Bank has waived the provision of showing trade licenses in opening bank accounts by small traders, according to a recent circular of the bank. The name of the account will be ‘Personal Retail Account’ or ‘Private Retail Account’. This account can be opened in banks, mobile financial services (MFS), e-wallet service providers, and payment service providers (PSP). Small entrepreneurs can transact through such an account for commercial purposes, said the circular. A personal retail account can be opened only after submitting the documents required for e-KYC in bank account opening. There is no cost to open this account. Besides, the loan will also be available on the basis of the transactions. Even if the account is in MFS, the cash-out cost will be less. The Director of the Payment System Department of BB Masbaul Haque told UNB that there is an opportunity to open a ‘personal retail account’ without a trade license.

Source: https://thefinancialexpress.com.bd/trade/showing-trade-license-not-mandatory-for-small-traders-to-open-bank-accounts-1663504958

Tax return proof rules bent for students, loan-seekers

Rules for mandatory submission of proof of tax return to the scheduled commercial banks have been bent for students and loan-seekers to certain limits for their convenience. Following the relaxation by the National Board of Revenue (NBR) people not having taxable income won’t have to submit tax-return slips for borrowing up to Tk 2.0 million. Students will also be able to enjoy exemption from the mandatory provisions for credit-card transactions up to Tk 0.2 million. The income-tax policy wing of the NBR issued Sunday a special order, signed by Second Secretary Md Mohidul Islam Chowdhury, to this effect. The government imposed the mandatory provision in the current fiscal budget on the submission of tax-return slips for availing 38 types of services. However, the Association of Bankers Bangladesh (ABB) has requested the revenue board for revisiting the provision in case of marginal group of people and preventing accumulation of funds in the informal economy.

Source: https://thefinancialexpress.com.bd/trade/tax-return-proof-rules-bent-for-students-loan-seekers-1663556727

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
↓ 139.40↓ 0.45%
FTSE100$7,236.68 ↓ 45.39↓ 0.62%
Nikkei 225$27,567.65↓ 308.26↓ 1.11%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$85.52↑0.41↑0.48%
Crude Oil (Brent)$91.94 ↑0.59↑0.65%
Gold Spot$1,669.99 ↓5.07↓0.30%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 105.5000

*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