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 29, 2017

BB asks banks to keep ADCs open round the clock

The central bank has asked the commercial banks to ensure round-the-clock operation of alternative delivery channels (ADCs) during the upcoming Eid-ul-Azha holidays in order to facilitate smooth transactions. The ADCs include ATM (automated teller machine), POS (point of sale), e-payment gateway and mobile financial services (MFS) through which a customer can access financial services. On Sunday, the Bangladesh Bank (BB) issued a directive in this regard, asking the managing directors and chief executive officers of the scheduled banks to take necessary measures to ensure smooth transactions during the vacation. The move is aimed at ensuring access to banking services through ADCs during Eid holidays, BB spokesperson Shubhankar Saha told the FE. Usually, transactions through digital channels such as ATM, Internet or online and mobile financial services surge on the weekend and other holidays, said Mr. Saha, also an executive director of the central bank. The scheduled banks will remain closed from September 01 to 03 on the occasion of Eid-ul-Azha, one of the largest religious festivals of the Muslims. In its directive, the central bank also asked the banks to beef up security measures at the ATM booths to avert any untoward incidents. It also instructed the banks to ensure that cash is always available at the ATM booths during the vacation.


30 crime syndicates producing fake notes

Over 30 crime syndicates have been involved in producing and circulating of different fake currencies, especially US dollars, Euro, Pound, Saudi Riyal and Taka, a police official said. “Criminals usually choose the slums scattered in different parts of Dhaka, Narayanganj, Savar, Tongi, Gazipur, Munshiganj and Keraniganj for running the illegal business,” he said. The making of fake notes are increasing and spreading across the country which affected the country’s business, trade as well as economy, according to reports by different news agencies.

Source: http://thefinancialexpress.com.bd/economy/bangladesh/30-crime-syndicates-producing-fake-notes-1503903047

Remittance inflow to rebound in FY18: Bangladesh Bank

The flow of remittance in the country is expected to rebound in the current fiscal (2017-18) as Bangladesh Bank (BB) has taken measures to streamline legal channel for encouraging NRBs to send home money, reports BSS. There was a falling trend in the inflow of remittances since fiscal year 2014-15, but the situation witnessed a change at the beginning of fiscal year 2017-18 as expatriates sent home USD 1,115.57 million in July, up by USD 110.06 million from the corresponding month in the previous fiscal 2016-17 (FY17), according to the BB data. Migrant workers sent USD 712.03 million in the first 18 days of August in FY18, which was USD 24.77 million up from the same period of the previous fiscal. According to the BB, the country received a total of USD 15,316.91 million in FY15, USD 14,931.15 million in FY16 and USD 12,769 million in FY17.has found. Inflow of remittance witnessed a record fall in February of FY 17 as migrant workers sent home only USD 940.75 million.

Source: http://today.thefinancialexpress.com.bd/trade-market/remittance-inflow-to-rebound-in-fy18-bb-1503946161

Most banks skip Fund Transfer Pricing policy

Most of the country’s banks are yet to have any Fund Transfer Pricing (FTP) policy despite growing importance of the same in reducing the risk of liquidity shortfall, a recent industry-wide survey reveals. Whereas almost all banks in the developed economies have a sound and effective FTP policy, only 42 per cent of banks in Bangladesh do possess an FTP policy, says the study conducted by the Bangladesh Institute of Bank Management (BIBM). More alarmingly, it was also found that nearly 10 per cent treasuries of the banking industry in Bangladesh have no good idea about the FTP, the BIBM study concluded based on the responses from 33 banks of the country. Meanwhile, only 33 per cent banks of Bangladesh are using dedicated software for fund transfer pricing whereas 67 per cent of them are using either off-line methods or core banking software for carrying out their FTP activities, the research has found. The findings of the study were shared during a seminar on Sustainability Reporting Practices and Fund Transfer Pricing of Commercial Banks held in the city on Sunday.


BD willing to ink € 50m loan deal with France next month

Bangladesh is eager to sign a €50 million credit agreement with France to fund its garment factory remediation, officials have said. “We expect to sign a loan agreement worth €50 million with France for upgradation of safety standards of the country’s export-oriented ready-made garment (RMG) sector by September next,” a senior official of Economic Relations Division (ERD) told the FE. “The French Development Agency (Agence Française de Développement, AFD) board authorised a loan of €50 million for the project in December 2015. The French agency has managed to mobilise other development partners. The French agency has already sent a draft of ‘grant financing agreement’ on EU grant fund, the official said. The AFD fielded a mission in Dhaka from June 11 to June 15, 2017 to review the progress in its credit facility programme undertaken for RMG sector..

Source: http://thefinancialexpress.com.bd/trade/bd-willing-to-ink-50m-loan-deal-with-france-next-month-1503947259

BD to become partner of paperless trade initiative Tuesday

Bangladesh will sign paperless trade agreement on Tuesday to become a partner of the initiative adopted by UNESCAP. Commerce minister Tofail Ahmed, who left Dhaka on Monday for Bangkok, will sign the agreement at UNESCAP headquarters, said a ministry release. United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) in 72th session adopted the resolution on “Framework Agreement on Facilitation of Cross-Border Paperless Trade in Asia and the Pacific”. The Cabinet on August 7 took decision for Bangladesh’s partnership with the movement, reports BSS.

Source: http://thefinancialexpress.com.bd/trade/bd-to-become-partner-of-paperless-trade-initiative-tuesday-1503927418

Indian co gets 220MW power plant deal sans bidding

Indian Shapoorji Pallonji group on Monday struck a 22-year power sales contract with Bangladesh Power Development Board without competitive bidding. Shapoorji’s subsidiary, Nutan Bidyut (Bangladesh) Ltd, will supply electricity from its 220MW power plant at 3.9830 US cents or approximately Tk 3.19 per unit or kilowatt-hour when it would run on natural gas and $16.9621 US cents or Tk 13.57 per unit when it would run on diesel. Nutan Bidyut will set up the dual-fuel power plant at Bhola by December 2019, according to a handout distributed at the contract signing ceremony. The power plant will run at 220MW capacity if gas supply is available and it will run at 212MW capacity if it would run on diesel in case of non-availability of gas supply. State minister for power, energy and mineral resources Nasrul Hamid, power division secretary Ahmad Kaikaus, power board chairman Khaled Mahmud, Petrobangla chairman Abul Mansur Md Faizullah and Shapoorzi’s top officials were present at the contract signing ceremony.


Bangladeshi investors to set up ceramic factory in Nigeria

Some Bangladeshi investors concluded arrangements to establish a ceramic factory in Nigerian state Kogi. Bangladesh High Commissioner to Nigeria, Maj.-Gen.Sharif Kaikoba disclosed this while he called on Sunday Governor of the state Yahaya Bello,according to a report published in /www.dailytrust.com.ng. The meeting was held at Lokoja, the capital of Kogi. Kogi is a state in the central region of Nigeria. Kaikoba said the industry would have taken off since, but had to put it on hold because of the security challenges facing the state.

Source: http://thefinancialexpress.com.bd/economy/bangladesh/bangladeshi-investors-to-set-up-ceramic-factory-in-nigeria-1503896561

Runner to produce Eicher brand trucks in Bangladesh

Runner Motors Ltd with technical support from VE Commercial Vehicles Ltd (VECV) of India will set up a completely knocked down (CKD) assembling plant to produce Eicher brand trucks in Bangladesh. The truck assembling facility will be established on 35 acres of land in Bhaluka upazila of Mymensingh district within next year and the proposed plant will have capacity of assembling around 500 units of Eicher brand trucks per year. The announcement was made at a press meet on Monday arranged by Runner Motors Ltd at Bangabandhu International Conference Center (BICC) in the city. Presided over by Runner Group of Companies chairman Hafizur Rahman Khan, the programme was also addressed by VECV managing director and chief executive officer (CEO) Vinod Kumar Aggarwal, VECV senior vice-president (international business) SS Gill, and Rangs Motors Ltd managing director (MD) Sohana Rouf Chowdhury.


Local and Global Stock Indices

Index NameClose ValueValue ChangePercentage Change
Nikkei 22519,310.87↓139.03↓0.71%

World Commodities

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)*$ 46.79↑0.21↑0.45%
Crude Oil (Brent)*$ 52.04↑0.15↑0.29%
Gold Spot*$ 1,316.93↑6.80↑0.52%

Major Currencies Exchange Rates Movement in Last Seven Days

Exchange Rates
USD 1BDT 81.12*
GBP 1BDT 104.93*
EUR 1BDT 97.09*
INR 1BDT 1.27*





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