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 23, 2020

GP revenue sees 3.7pc growth in Q1 of 2020

Grameenphone Ltd reported total revenues of BDT 36.2 billion for the first quarter of 2020, registering a 3.7 per cent growth from the same period last year. The operator also ended the quarter with 75.3 million total customers, of which 53.6 per cent, or 40.4 million, are internet customers. During the first quarter, the operator also registered a 24.6 per cent growth in data revenue year-on-year. We continued to face challenges in the first quarter of 2020. The restrictions placed on us by our regulator by not issuing NOCs lasted until March, which impacted our planned investment in the country,” said Yasir Azman, CEO of Grameenphone Ltd. In the first quarter, Grameenphone Ltd invested BDT 0.4 billion for network coverage, and added 197 new 4G sites to their network. The total number of sites stands at 16,542. The company also paid out BDT 24.6 billion equaling 68% of its total revenues, to the national exchequer in the form of taxes, VAT, duties, fees, 4G license and spectrum assignment. The largest telecom company paid the telecom regulator Tk 10 billion as part of a disputed audit claim in February last.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/gp-revenue-sees-37pc-growth-in-q1-of-2020-1587571228

BMBA places three proposals

Bangladesh Merchant Bankers Association (BMBA) has made three proposals including exemption of submitting monthly statements due to closure of the offices of market intermediaries. The BMBA has submitted their proposals to the office of the Bangladesh Securities and Exchange Commission (BSEC) recently. “We have requested the regulator to exempt market intermediaries such as merchant banks, stock brokers and asset management companies from submission of statements for the month of April, May and June, 2020,” the BMBA said. The BMBA has also requested the securities regulator for allowing the listed companies to declare the record date and disburse dividend irrespective of holiday or working day.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/bmba-places-three-proposals-1587571257

BSEC passes five years to finalise rules on MF

The long-waited amendment to the rules of mutual funds (MFs) gathers dust for more than five years since the securities regulator approved the draft rules to bring disciplines in the MF industry. Asked, an official of the BSEC could not confirm whether the amendment to the rules of MFS will be finalised before departure of the majority number of policy makers of the securities regulator. The tenures of majority number of policy makers of the Bangladesh Securities and Exchange Commission (BSEC) will end by May 14. A BSEC statement on December 7, 2015 had said the draft provisions will be published in newspapers soon, seeking public opinion. The tenure of one commissioner already ended on April 18 and he backed to his previous profession. The tenure of another commission professor Helal Uddin Nizami will end on May 1, while the tenure of BSEC chairman professor M Khairul Hossain will end on May 14. Market analysts opine the regulator should either finalise or withdraw its decision explaining the reason. The BSEC officials could not be reached to make comment on the updates, if any, of the pending amendment to the rules of MFs. Presently, there are 37 closed-end MFs listed on the country’s stock exchanges. The units of 35 closed-end MFs were traded below face value of Tk 10 each before closure of the market.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/bsec-passes-five-years-to-finalise-rules-on-mf-1587571186

Remittance to nosedive 22pc in 2020: WB

Remittance flow to Bangladesh may plunge by as much as 22 per cent in 2020 because of the fallout of the global coronavirus pandemic, in a major blow to the economy, said the World Bank yesterday. Money sent by the migrant workers is projected to fall to $14 billion this year, said the multilateral lender in its Migration and Development Brief. The inflows from the migrant workers, which rose 21.49 per cent to $11.05 billion in the first seven months of the fiscal year on the back of the 2 per cent cash incentive, had kept the growth momentum until January this year. But the momentum came crashing in the following months as the impact of the deadly bug started to become evident. In March, remittance fell 12 per cent year-on-year to $1.28 billion, the lowest in 15 months. Remittances to South Asia are projected to decline 22 per cent to $109 billion in 2020, following the growth of 6.1 per cent in 2019. Falling oil prices will affect remittance outflows from the GCC countries and Malaysia and the coronavirus-induced economic slowdown from the US, the UK and the EU to South Asia. Apart from the GCC countries, a major chunk of Bangladesh’s migrant workers lives and work in Malaysia and Singapore, while the US and the UK are respectively home to 5 lakh and 10 lakh expatriate professionals. .

Source: https://www.thedailystar.net/business/news/remittance-nosedive-22pc-2020-wb-1895836

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
↑ 456.94↑ 1.99 %
FTSE1005770.63↑ 129.60↑ 2.30 %
Nikkei 22519316.42↑ 178.47↑ 0.93 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 14.99↑ 1.21↑ 8.78 %
Crude Oil (Brent)$ 21.91↑ 1.54↑ 7.56 %
Gold Spot$ 1713.16↓ 0.92↓ 0.05 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 83.1778
GBP 1BDT 102.481
EUR 1BDT 90.1895
INR 1BDT 1.09262





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