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 -August 22, 2017

Bangladesh goes up 28 notches

Bangladesh went up 28 notches in the anti-money laundering and counter terrorist financing (AML/CTF) index of the Basel Institute on Governance — a development that will come as a pat on the back for the government. The country came in at No. 82 out of 146 in the 2017 edition of the Basel AML Index, up from its previous spot of 54. Bangladesh’s score this year was 5.79, down from its last year score of 6.40. As per the score, Bangladesh is among the 100 medium-risk countries, including India that managed a score of 5.58. Neighbouring Pakistan, Sri Lanka, Nepal, Myanmar and even Thailand fall in the high-risk category. The report said Bangladesh saw a big jump in its ranking due to the results of the Financial Action Task Force (FATF) Mutual Evaluation Report in October 2016. Bangladesh Bank in a statement yesterday said the country implemented all 40 of the Asia/Pacific Group on Money Laundering’s recommendations.


 Bangladesh Bank (BB) plans fresh agri loans for flood-hit farmers

Bangladesh Bank considers providing fresh agricultural loans to flood-hit farmers so that they can recover losses from damaged crops. The central bank is now working to identify the affected areas across the country where fresh loans and other facilities will be provided, said a senior executive of Bangladesh Bank. An internal meeting in this regard was held yesterday.

Source:   http://www.thedailystar.net/business/bb-plans-fresh-agri-loans-flood-hit-farmers-1452151

 Government set to cut capital market re-finance scheme interest rate by 1.5%

The government is set to reduce the rate of interest from existing 7.5% to 6.0% on the loans disbursed under the capital market refinancing scheme, officials said. It has taken the move to ensure full utilization of undisbursed loan funds, they said, adding that the government is going to cut the interest rate by 1.5% for the third time. In June 2016, the government reduced the interest rate by 1.5%. At present, the interest rate is 7.5% which was 9.0% according to the main policy of the scheme. Over BDT 2.57 billion of BDT 9.0-billion capital market refinancing funds remains unutilized due to poor response from the investors who got affected during the 2010-11 stock market crash. Despite repeated attempts, the fund supervision committee and Investment Corporation of Bangladesh (ICB) could not disburse over BDT 2.57 billion of the affected-small investors’ assistance fund, an ICB official said.


Source: http://print.thefinancialexpress-bd.com/2017/08/22/181268

Bangladesh Bank (BB) eases financing process for importing raw materials

Bangladesh Bank (BB) has eased the process of issuing repayment guarantee for facilitating import of industrial raw materials, reports BSS. BB, however, said that the guarantees without its approval should only be issued in favour of the International Islamic Trade Finance Corporation (ITFC), an autonomous entity within the Islamic Development Bank (IDB) Group created to help improve trade in Islamic countries. BB also said that the short term buyer’s credit would be given for up to 180 days for import of industrial raw materials for own use by the importers.


Source:  http://print.thefinancialexpress-bd.com/2017/08/22/181320

NBR may phase out truncated VAT rates

The National Board of Revenue (NBR) is likely to phase out truncated or reduced rates of value added tax (VAT) way before the VAT and Supplementary Duty Act 2012 comes into effect, officials said yesterday. The revenue administration is taking the initiative following Finance Minister AMA Muhith’s instruction to take steps to gradually phase out such rates of VAT, which is determined on administered value of certain services. It means that rates of truncated VAT will have to be increased to 15 percent now applicable on most of the goods and services, said officials of NBR. The rates of VAT fixed on truncated bases fall below the standard rate of VAT at 15 percent on goods and services. Currently, taxmen collect VAT on truncated rates from 19 services such as that of electricity, motor garage and workshops, realtors, jewellers and English medium schools. The rates of truncated VAT range from 1.5 percent to 10 percent, according to the NBR.


 HSBC will continue to invest in Bangladesh

Banking giant HSBC will continue to invest in Bangladesh to meet the growing consumer needs, maintain its pole position as the leading trade finance bank and grow further, a senior executive of the UK-based Asia-focused lender said. “Consumer demand is changing and will trigger a need for businesses to evolve. At HSBC, we want to invest in the growing consumer needs, which will enable us to maintain our market leadership position,” said Ajay Sharma, regional head for global trade and receivables finance at HSBC Asia Pacific. Last week, he was in Dhaka to launch a new mobile banking application for exporters and importers in Bangladesh to give them an edge in tracking international trade transactions digitally.

 Source:  http://www.thedailystar.net/business/hsbc-will-continue-invest-bangladesh-1452121

 Thirty-nine foreign firms submit EoIs to supply LNG

Thirty-nine global firms are willing to supply spot LNG to Bangladesh as the government plans spot purchase of the new fuel from the international market from 2018, officials said. The firms from the US, the UK, Australia, Italy, Spain, Switzerland, Norway, Japan, Singapore, Hong Kong, Malaysia, India, Bermuda and Malaysia and their consortia submitted bids for exporting lean LNG (liquefied natural gas) to Bangladesh. Managing director of the state-owned Rupantarita Prakritik Gas Co Ltd (RPGCL) Md. Quamruzzaman disclosed Monday the development in LNG-import process. Local Summit Corp. Ltd & Summit Oil & Shipping Co. Ltd also took part in the bidding. The imported LNG is to be blended with locally produced gas – sulfur-free sweet gas – for delivering the energy mix to the end-users so the LNG’s sulfur content should be low.

 Source:   http://www.thefinancialexpress-bd.com/2017/08/22/80387/Thirty-nine-foreign-firms-submit-EoIs-to-supply-LNG

Local and Global Stock Indices

Index NameClose ValueValue ChangePercentage Change
Nikkei 22519,405.68↑12.55↑0.06%

World Commodities

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)*$ 47.56↑0.19↑0.40%
Crude Oil (Brent)*$ 51.87↑0.21↑0.41%
Gold Spot*$ 1,286.01↑1.88↑0.15%

Major Currencies Exchange Rates Movement in Last Seven Days

Exchange Rates
USD 1BDT 81.71*
GBP 1BDT 104.1401*
EUR 1BDT 95.3589*
INR 1BDT 1.26*





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,

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Dhaka Bank Limited