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

Important Business News Extracts April 04, 2019

Banks donate Tk 30cr for Chawkbazar fire victims

Private banks have donated Tk 30 crore to the Prime Minister’s Relief and Welfare Fund as assistance for the people who were affected by the recent fire in Churihatta in Old Dhaka’s Chawkbazar. The top brass of all the private commercial banks handed over cheques separately to Prime Minister Sheikh Hasina at an event at the Gono Bhaban in Dhaka on Tuesday. The banks that donated the money include Bank Asia, City Bank, IBBL, Mercantile, Mutual Trust, NCC, NRB, NRB Global, NRBC, One, Prime, Pubali, SIBL, UCB and Uttara. Of the 40 private banks, nine new banks donated Tk 25 lakh each, while the rest except ICB Islamic Bank contributed Tk 1 crore each. A devastating fire broke out at Old Dhaka’s Chawkbazar on February 20, killing 70 people. According to a meeting source, speaking on the occasion, the prime minister asked the directors of the banks to bring down the lending rate to single-digit. The directors explained that it was not possible at the moment because the private banks were facing liquidity crunch. However, the prime minister instructed the banks to take time to implement the single-digit lending rate. She, however, said banks would have to do it.

Source: https://www.thedailystar.net/business/news/banks-donate-tk-30cr-chawkbazar-fire-victims-1724707

ADB projects Bangladesh growth at 8pc

Asian Development Bank on Wednesday projected that Bangladesh economy would grow by 8 per cent, close to the government’s provisional estimates, in the current fiscal year 2018-2019. Gross domestic product growth is expected to grow by 8 per cent in FY 2019 with robust private consumption, increased public investment, strong export performance and expansion in industries, according to Asian Development Outlook 2019 launched on the day. The Manila-based international lender in its last ADO Update released in September projected 7.5 per cent GDP growth for Bangladesh. ADB arranged a press briefing at its Dhaka office to release the Bangladesh part of the report. The government on March 19 released provisional estimates of GDP saying that the country’s GDP would grow at record 8.13 per cent in FY 2019 based on better performance of the key macroeconomic indicators including investment, export and manufacturing sectors. Experts and economists, however, remain skeptical about the government’s estimation. At the briefing, ADB country director Manmohan Parkash said export performance was expected to excel and net exports are likely to add to growth.

Source: http://www.newagebd.net/article/69116/adb-projects-bangladesh-growth-at-8pc

Bangladesh wants DFQF after graduation from LDC

Bangladesh on Wednesday sought continuation of duty-free and quota-free market access for countries graduated to developing countries from least developed country status for at least additional 6-10 years after graduation. The country made the plea to the member countries of the World Trade Organisation during the first day of the fifth review of Bangladesh trade policy being held in Swiss city of Geneva. Bangladesh in its TPR report, placed its report to the WTO’s trade policy review body, said that WTO members need to develop special programmes for the newly graduated countries for ensuring smooth transition and preventing any unwanted setback. It also sought extension of exemption from TRIPS obligation particularly for the pharmaceutical products. Continuation of the DFQF facility, support for capacity building and extension of TRIPS exemption will be critically important for sustainable graduation for the newly graduated countries, the report said, adding that the issues deserved urgent attention of WTO members.

Source: http://www.newagebd.net/article/69115/bangladesh-wants-dfqf-after-graduation-from-ldc

Govt earnings from DSE up 0.86pc in Mar

The government revenue earnings from the Dhaka Stock Exchange (DSE) inched up 0.86 per cent month-on-month in March despite trading activities fell sharply. As per the market analysts, higher shares sale by sponsor-directors during the month kept the government earnings from the premier bourse afloat. The daily average turnover on the DSE also came down to Tk 4.84 billion in March, which was Tk 7.65 billion in February, 2019, the DSE data shows. DSEX, the prime index of the Dhaka Stock Exchange (DSE), fell 220 points or 3.85 per cent in March to close the month at 5,491 points. According to statistics from the DSE, the government collected revenue worth Tk 234 million in March which was Tk 232 million in February, 2019, advancing 0.86 per cent month-on-month. Of the total earnings in March, Tk 140 million came from share sales by sponsor-directors and placement holders. It was the highest earnings from the sponsor-directors and placement holders share sale in recent months. And Tk 94 million came from TREC (trading right entitlement certificate) holders’ commission. The DSE, on behalf of the government, collects tax as TREC holders’ commission and share sales by sponsor-directors and placement holders at the rate of 0.05 per cent and 5.0 per cent respectively and deposits the amount to the government exchequer.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/govt-earnings-from-dse-up-086pc-in-mar-1554315907

IDLC’s Tk 255cr zero coupon bond gets nod

The Bangladesh Securities and Exchange Commission (BSEC) has approved a proposal of IDLC Finance, which is seeking to raise Tk 255 crore by issuing non-convertible zero coupon bond. The tenure of the fully redeemable, unsecured, and non-listed bond will be seven years. The proceeds will be used to strengthen the non-bank’s liquidity situation. The offer price will be Tk 10 lakh per unit.

Source: https://www.thedailystar.net/business/news/idlcs-tk-255cr-zero-coupon-bond-gets-nod-1724704

Compliant tanners to boost exports: Expert

As per an opinion of an Expert, Bangladesh has the potential to expand its share of leather and leather products in the lucrative global market if it can make its tanneries fully compliant with international standards. Professor M Abu Eusuf of development studies department at the University of Dhaka said China was increasingly moving towards high-end markets of leather and related goods including footwear. As per him, this has created opportunities for countries like Bangladesh. But we will have to be fully compliant. As per Mr. Abul Kalam Azad, president of Tannery Workers’ Union, the sector would not be able to sustain its progress if it was not compliant. It has immense potential and can be a much bigger export earner. Both were addressing a dialogue on the tannery sector in Bangladesh organised by The Asia Foundation at The Daily Star Centre in Dhaka. Leather is the second largest earner of foreign currency through exports after garments, fetching $1.09 billion last fiscal year.

Source: https://www.thedailystar.net/business/news/compliant-tanners-boost-exports-expert-1724713

11 Economic Zones open for setting up Industries

Prime Minister Sheikh Hasina asked the business community not to raise the prices of essentials, including sugar and edible oil, during the upcoming Ramadan, report agencies. She made the call at a function arranged marking the inauguration and laying the foundation stones of 65 different development activities of economic zones through videoconferencing from Ganobhaban in the city on Wednesday. The Prime Minister inaugurated 11 economic zones (prepared for setting up industries) and the commercial manufacturing of 16 industrial units, and laid the foundation stones of 13 economic zones, 20 industrial units and five ongoing development projects being implemented by Bangladesh Economic Zone Authority (BEZA).

Source: http://today.thefinancialexpress.com.bd/first-page/11-economic-zones-open-for-setting-up-industries-1554314203

BRAC Bank, bKash partner with Malaysian Incentive Remit

Leading money Transfer Company’ Incentive Remit’ is considerably expanding its presence in Bangladesh by joining forces with BRAC Bank and bKash for digital money transfers. Using the app, the Bangladeshi diaspora living in Malaysia can now send money quickly and securely to 1 million BRAC Bank accounts, 186 BRAC Bank branches and 30 BRACBank SME locations for cash collection, Up to 30 million bKash mobile money wallets.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/brac-bank-bkash-partner-with-malaysian-incentive-remit-1554316139

DSE inks MoU with Colombo Stock Exchange

The Colombo Stock Exchange (CSE) and the Dhaka Stock Exchange (DSE) have signed a Memorandum of Understanding (MoU) to pave the way of exchanging information between two exchanges. The MoU was signed on March 28 last while a three-member DSE delegation made a visit to Colombo to attend a program namely ‘High level engagement with Listed companies: Sustainability Reporting for Sustainable Development’. The DSE representatives attended the programme following the invitation of the Netherlands based Global Reporting Initiative (GRI). The delegation included DSE Director Minhaz Mannan Emon, DSE Managing Director K.A.M. Majedur Rahman and Assistant General Manager Moniruzzaman Miah.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/dse-inks-mou-with-colombo-stock-exchange-1554316168

BRAC Bank inks deal with Rahimafrooz

BRAC Bank Limited and Rahimafrooz Distribution Limited have signed an e-commerce agreement. Under this agreement, BRAC Bank debit and credit cardholders will enjoy 10% discount in all products and services available at estore.rahimafrooz.com till July 15, 2019.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/brac-bank-inks-deal-with-rahimafrooz-1554316289

SBAC Bank to focus on small Businesses

As per the Chairman of South Bangla Agriculture and Commerce (SBAC) Bank Limited, the Bank plans to foray into manufacturing and small businesses to create employment as the bank enters its seventh year. The new generation bank also wants to invest more in rural areas to make rural economy vibrant.

Source: http://today.thefinancialexpress.com.bd/trade-market/sbac-bank-to-focus-on-small-businesses-1554316497

PM inaugurates new BGMEA complex

Prime Minister Sheikh Hasina inaugurated on Wednesday the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) complex at Uttara. She opened the newly constructed building through videoconferencing from her official Gonobhaban residence in the capital. The PM exhorted the apparel makers to explore new markets and diversify their products mainly to expand business and also for sustainability of the industry.

Source: http://today.thefinancialexpress.com.bd/last-page/pm-inaugurates-new-bgmea-complex-1554314379

Puma enters Bangladesh

German sportswear giant Puma has set foot in Bangladesh, with its first store to open next week — as the country’s sizeable and upwardly mobile middle-class and youth population continues to catch the attention of global brands. As per MA Jabbar, the local franchisee of Puma, Puma’s first store will be on Banani 11 and it will open its doors to the public on April 7. As per Mr. Jabbar, all the clothing items would be brought in from Germany as the country is not yet capable of manufacturing high-end stuff.

Source: https://www.thedailystar.net/business/news/puma-enters-bangladesh-1724695

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
Nikkei 22521,760.57↑47.36↑0.22%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 62.44↓0.02↓0.03%
Crude Oil (Brent) $ 69.37↑0.06↑0.09%
Gold Spot$1,291.20↑1.27↑0.10%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 83.3890
GBP 1BDT 109.7100
EUR 1BDT 93.6724
INR 1BDT 1.2116





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