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 21, 2020

BB frees up Tk 3,000cr for farmers, micro enterprises

The Bangladesh Bank yesterday unveiled a financial package of Tk 3,000 crore for underprivileged farmers, professionals and micro enterprises to keep them afloat. Marginal businesses and farmers with no access to banks and non-bank financial institutions will be allowed to get loans from the revolving fund at 9 per cent interest rate. Microfinance institutes (MFIs) with certificates from the Microcredit Regulatory Authority can give out the loans. Under the package, the BB will initially provide the fund to banks at 1 per cent interest, which they will lend to MFIs at 3.5 per cent interest. The MFIs will be allowed to charge a maximum of 9 per cent interest to borrowers. Small businesses like roadside tea stalls can get loans, the highest amount of which would be Tk 75,000. If the small businesses are owned by more than five persons, the loan ceiling would go up to Tk 3 lakh. The loans must be paid back within a year. But MFIs will be allowed to disburse loans ranging from Tk 10 lakh to Tk 30 lakh to micro enterprises and their repayment duration would be two years. Banks will have to follow the instruction until June 30.

Source: https://www.thedailystar.net/business/news/bb-frees-tk-3000cr-farmers-micro-enterprises-1895125

Listed companies holding AGMs online

Some listed multinational companies (MNCs) including Grameenphone will hold their annual general meeting (AGM) through digital platform avoiding public gathering to contain COVID-19 infection. The move came after the securities regulator paved the way of holding AGM or EGM using digital platform amid the alarming spread of COVID-19. The Bangladesh Securities and Exchange Commission (BSEC) on March 24 last relaxed the compliances regarding holding AGM/EGM and board meeting, among others. Of the MNCs, Grameenphone will hold AGM today (April 21), while British American Tobacco Bangladesh Company (BATBC) will hold its AGM tomorrow (April 22). Both the companies will hold their AGM for the year ended on December 31, 2019. Grameenphone recommended 40 per cent final cash dividend (i.e. total 130 per cent cash dividend for the year 2019 which represents 50.86 per cent of profit after tax for the year 2019 inclusive of 90 per cent interim cash dividend which has already been paid). The company reported EPS of Tk. 25.56, NAV per share of Tk. 28.40 and NOCFPS of Tk. 42.50 for the year ended on December 31, 2019 as against Tk. 24.71, Tk. 27.28 and Tk. 44.74 respectively for the same period of the previous year. The BATBC recommended 400 per cent cash dividend for the year ended on December 31, 2019. The company reported EPS of Tk. 51.37, NAV per share of Tk. 198.85 and NOCFPS of Tk. 86.61 for the year ended on December 31, 2019 as against Tk. 55.62, Tk. 164.05 and Tk. 49.58 respectively for the same period of the previous year. .

Source: https://today.thefinancialexpress.com.bd/stock-corporate/listed-companies-holding-agms-online-1587395496

Meghna Bank gets new MD

Meghna Bank Ltd. has appointed Sohail R. K. Hussain as its Managing Director and CEO. Mr. Hussain has over 30 years of experience and expertise in corporate, SME, green, retail and infrastructure financing. He is a pioneer in digitisation, redefining strategies, merger & acquisition, advisory, and structured finance transactions. Mr Hussain played an instrumental role in transforming Eastern Bank Ltd and The City Bank Ltd. He served The City Bank as Managing Director & CEO from November 2013 to January 2019. Previously, Mr Hussain served the Eastern Bank, Standard Chartered Grindlays Bank, and ANZ Grindlays Bank. He was also the Vice Chairman of Association of Bankers.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/meghna-bank-gets-new-md-1587395770

Guardian Life starts online claim settlement under lockdown

Under the ongoing lockdown and social distancing situation, Guardian Life Insurance is all set keep its commitment to the customers by introducing “Online Claim Submission (OCS)” platform to submit claims digitally. Corporate customers of Guardian Life from now on will be able to submit Life and Medical claims (Hospitalization / Outdoor Patient / Death) via mobile, laptop or desktop anytime, anywhere. The claims will then be evaluated by the team from the system and eventually be paid out from the system via online payment channels. Guardian Life is already selling Life Insurance Policies Online through its EasyLife App and Website where customers can buy life insurance policies within just 15 minutes from anywhere. While ensuring the continuity of its business operations with the philosophy of ‘Stay home, stay safe’, Guardian Life has taken necessary steps to safeguard the health and well-being of its customers, members, employees and the community as a whole.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/guardian-life-starts-online-claim-settlement-under-lockdown-1587395614

Lentil, sugar, ginger prices rise further

The prices of kitchen stuff like lentil, sugar and imported ginger have witnessed a further hike, hitting hard the commoners during this stay-at-home period. All types of lentil have witnessed a Tk 10-20 hike in prices per kg in the past two days, adding woes to the consumers in this time of coronavirus lockdown. The price of finer lentil variety shot up to Tk 140-145, medium quality to Tk 100-110 and coarse variety to Tk 80-85 a kg on Monday. The Trading Corporation of Bangladesh (TCB) has recorded an 8.0-28 per cent surge in lentil prices in the past two days. Meanwhile, sugar rose in price to Tk 70-75 a kg from Tk 68-72 two days back, according to the state agency. Imported Chinese ginger prices also continued to swell it was retailed at Tk 310-360 per kg. Bangladesh has an annual demand for 1.45 million tonnes of pulses of which lentil comprises 0.65 million tonnes. It produces only 0.18 million tonnes of lentil while the rest is met through import.

Source: https://today.thefinancialexpress.com.bd/trade-market/lentil-sugar-ginger-prices-rise-further-1587395957

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
↓ 592.05↓ 2.44 %
FTSE1005812.83↑ 25.87↑ 0.45 %
Nikkei 22519276.41↓ 392.71↓ 2.00 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 1.55↑ 39.18↑ 104.12 %
Crude Oil (Brent)$ 25.41↓ 0.16↓ 0.63 %
Gold Spot$ 1687.25↓ 8.40↓ 0.50 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 83.1795
GBP 1BDT 103.615
EUR 1BDT 90.3703
INR 1BDT 1.09387





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