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 Aug 29, 2019

Deal on $185m WB assistance for renewable Energy

The World Bank [WB] will provide $185 million to Bangladesh to add up to 310 Megawatt [MW] in renewable energy generation capacity and mobilize private sector participation to meet the growing demand for electricity in the country, reports BSS. The Economic Relations Division [ERD] Secretary Monowar Ahmed and World Bank Acting Country Director for Bangladesh and Bhutan Dandan Chen will sign the loan agreement for the “Bangladesh Scaling-up Renewable Energy Project” on behalf of their respective sides today [Thursday] at the NEC-2 Conference Room in the city’s Sher-e-Bangla Nagar. The $185 million credit also includes a $ 26.38 million loan and a $ 2.87 million grant from the Strategic Climate Fund [SCF] of the World Bank’s Climate Investment Funds [CIFs]. The credit from the World Bank’s International Development Association [IDA], which provides concessional financing, has a 30-year term, including a five-year grace period, and an interest rate of 1.25 per cent with a service charge of 0.75 per cent. The SCF loan is on Scaling-up Renewable Energy Programme [SREP] loan terms and has a maturity of 40 years, including a grace period of 10 years. The project will help mobilize up to $ 212 million from the private sector, Commercial Banks and other sources of financing and establish a dedicated Renewable Energy Financing Facility to provide credit to developers of both rooftop solar Photovoltaic [PV] and large-scale solar PV projects. The power sector in Bangladesh has grown rapidly with maximum generation capacity increased from a little over 4,000 MW in 2009 to more than 20,000 MW in 2018.

Source: http://today.thefinancialexpress.com.bd/trade-market/deal-on-185m-wb-assistance-for-renewable-energy-today-1567009330

Option open for importing LNG from Spot Market

The government yesterday gave the green light to Liquefied Natural Gas [LNG] purchase from the global spot market as it looks to ensure an uninterrupted supply for the fast-growing economy. At present, the government purchases LNG under long-term agreements from Qatar and Oman, and given the rise in geopolitical tension in the region there are risks of supply disruptions. As per the spot market policy on LNG import, the government can purchase LNG from 17 companies at rates prevailing in the global spot market. Of the companies, six are from Singapore and four from Japan. The Japanese firms are Mitsui & Co, Marubeni Corporation, Osaka Gas and Jera Co Inc. The Singaporean Companies are Diamond Gas International, Vitol Asia, Trafigura, Gazprom Marketing & Trading Singapore, Cheniere Marketing LLP and Chevron USA Inc, Singapore.

Source: https://www.thedailystar.net/business/news/option-open-importing-lng-spot-market-1792309

DMCB receives BIZZ AWARD from US Organization

World Confederation of Business [WORLDCOB], a US-based international organization, has handed over the BIZZ AWARD-2019 to Dhaka Mercantile Co-operative Bank Ltd. [DMCB]. BIZZ AWARD is an international awards programme which offers recognition of business excellence in different countries across the globe. The DMCB was selected to receive the prestigious award considering its good business leadership quality, quality service, innovation, management systems, good governance and corporate social responsibility [CSR] activities. The WORLDCOB was founded on September 9, 2004, in the city of Houston, Texas, USA, under the name of MPBM, Co.

Source: http://today.thefinancialexpress.com.bd/trade-market/dmcb-receives-bizz-award-from-us-organisation-1567009438

New Era begins in Livestock Insurance

Green Delta Insurance and Brac Bank yesterday rolled out the country’s first-ever livestock insurance for cattle farmers on a pilot basis, a development that can go on to become a game changer for the cattle industry. The loan-based product, which is backed by insurance, will be piloted for one year on 400 farmers across the country. Disability, death and pregnancy-related complexities of cattle would be under insurance coverage and premium of the insurance would be 3 percent of the assumed value of the livestock. Farmers who take loans from Brac Bank for their livestock would be able to take the insurance coverage. Green Delta began a weather index-based crop insurance in 2016. It has been insuring around 10,000 farmers in several crops and settled claims to 2,200 farmers for unseasonal excess rainfall, cyclone signal and cold spell on different seasonal crops. Cattle insurance was first launched in 1970 by Sadharan Bima Corporation but it was nipped in the bud due to the absence of technology.

Source: https://www.thedailystar.net/business/news/new-era-begins-livestock-insurance-1792321

Axiata-Trust Bank JV gets nod to launch MFS

A joint venture of Trust Bank and Malaysia’s Axiata Group is set to roll out a new kind of mobile financial service in Bangladesh after it received a no-objection certificate from the central Bank yesterday. The Kuala Lumpur-based group is the parent company of Bangladesh’s second largest mobile phone operator Robi and controls 68.7 percent stake. Robi has 4.79 crore active subscribers. Axiata Digital Ltd, the digital services arm of the group, has partnered with Trust Bank Limited, a private commercial Bank, to join the growing MFS sector. The joint venture is planning to promote wallet-based services, which will ultimately help expedite financial inclusion in the country. In 2015 both parties reached a consensus and decided to form a joint venture company styled Trust Axiata Digital Ltd, where the Bank would hold 51 percent stake. The entity’s initial paid-up capital has been proposed to be Tk 45 crore. Axiata Digital currently offers digital financial services in Malaysia, Sri Lanka, Cambodia and Indonesia – the countries where Axiata Group has mobile business. In these markets, Axiata Digital is offering various savings products and fixed deposit. Even customers can get business loans through accounts.

Source: https://www.thedailystar.net/business/news/axiata-trust-bank-jv-gets-nod-launch-mfs-1792297

BD to set up 12 Hi-tech Parks with Indian Support

State Minister for Information and Communications Technology Junaid Ahmed Palak has said that the government will set up 12 Hi-tech Parks in the country within next four years with the help of India. After completion of the Parks, around 30,000 youths will be trained as skilled IT manpower. The present government has been able to negotiate the water issues of the Ganges, Teesta, Hill Peace Agreement and a revolutionary change in the development of the power sector. Bangladesh’s trade with India has exceeded 10 million dollar. Indian High Commissioner to Bangladesh Riva Ganguly Das was present as the guest of honor at the workshop. The Indian government will be funding the setting up of 12 hi-tech parks in 12 districts of Bangladesh.

Source: http://today.thefinancialexpress.com.bd/trade-market/bd-to-set-up-12-hi-tech-parks-with-indian-support-palak-1567009347

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DSEX5139.99879↓38.70↓ 0.75%
FTSE100 7,114.71 ↑25.13↑0.35%
Nikkei 225 20,377.97↓101.45↓0.50%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 55.56 ↓0.22↓0.39%
Crude Oil (Brent)$ 60.12 ↓0.37↓0.61%
Gold Spot $ 1,541.79↑2.78↑0.18%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 82.9444
GBP 1BDT 101.487
EUR 1BDT 91.9388
INR 1BDT 1.15521





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