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 December 21, 2017

RAKUB recovers Tk 1.79 billion outstanding loans

Rajshahi Krishi Unnayan Bank (RAKUB) has recovered outstanding loans worth Tk 1.79 billion (Tk 179 crore), including classified loan of Tk 290 million (Tk 29 crore), through its Victory Fair (Bijoy Mala). The bank arranged the two-day fair in all its 378 branches from Dec 17 to Dec 18, marking the 47th Victory Day. Apart from recovering loans, the bank distributed loan of Tk 1.29 billion (Tk 129 crore) in various potential sectors, including crops, farmers’ credit, crop-sharing, green banking and dairy and spice farming, RAKUB Public Relations Officer Mohammed Jamil said on Wednesday.

Source: http://today.thefinancialexpress.com.bd/trade-market/rakub-recovers-tk-179-billion-outstanding-loans-1513794250

IPDC’s ‘iridescence to widen financial inclusion’

IPDC Finance Ltd has achieved resounding successes in all segments of its businesses in the outgoing calendar year and vows to perform better in the coming months with a re-branded image of the company, country’s first private sector DFI. In December 2016, the company changed its name to ‘IPDC Finance Ltd’ and re-launched its brand to remain vibrant in corporate, SME and retail segments. “Our performance in 2017 was excellent in all business parameters due to the robust presence of our newly re-branded image and our latest products feature iridescent values to our core clients,” Mominul Islam, managing director & CEO of the company told The FE recently. “Under our strategic roadmap, we like to craft stories in the areas of home loan, automated supply chain finance, creating entrepreneurs, providing factoring finance and breaking glass ceiling,” Mr Mominul Islam said. Under the roadmap, the company will enable 50,000 families to get a dream home and cover 25,000 MSEs to be under the automated supply chain finance.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/ipdcs-iridescence-to-widen-financial-inclusion-1513792852

Banking experts highlight 5 challenges to PPP implementation

Banking experts on Wednesday pointed out five major challenges, including time and cost overruns, to implementing public private partnership projects. Separately, they also called for development of homegrown core banking software for more convenience, during a seminar held at the Bangladesh Institute of Bank Management. While two research papers titled ‘Financial and non-financial issues in implementing PPP in Bangladesh’ and ‘An evaluation of core banking software in banks of Bangladesh’ were presented, banking and economic experts of the country also discussed about ways to overcome the challenges. The study found five major challenges of PPP implementation including cost and time overruns, project appraisal, project monitoring by government, transparency and capacity building.


Bring good companies to enhance depth of capital market

Discussants have stressed the need for proper utilisation of the country’s capital market in country’s industrialisation and infrastructure development. They also laid emphasis on listing of multinational companies and local large companies to enhance the depth of the stock market at a seminar titled ‘Importance of Capital Market as Source of Long Term Finance: Bangladesh Perspective’. Bangladesh Merchant Bankers Association (BMBA) organised the seminar held at a city hotel on Wednesday.


Nihad Kabir MCCI president again

Nihad Kabir has been reelected president and Golam Mainuddin vice-president of the Metropolitan Chamber of Commerce and Industry, Dhaka (MCCI) for the term of 2018, says the chamber in a statement. Members of the chamber’s new committee re-elected Senior Partner of Syed Ishtiaq Ahmed & Associates Nihad Kabir, Barrister-at-Law, president of the chamber unanimously at its first meeting held recently. The reelection was confirmed at the 113th Annual General Meeting (AGM) of the MCCI held on Wednesday.


Md Fakrul Alam new DMD of Janata Bank

Mohammad Fakrul Alam was appointed as Deputy Managing Director (DMD) of Janata Bank Limited on Tuesday, says a statement. Before his promotion, he served as general manager at the same bank.

Source: http://today.thefinancialexpress.com.bd/trade-market/md-fakrul-alam-new-dmd-of-janata-bank-1513794493

Manual VAT numbers to remain valid for two more months

Firms may be able to use their manually issued 11-digit VAT registration numbers for a further two months as the revenue authority is yet to complete the revision of the VAT Act 1991 to make it compatible with the online system. The 11-digit numbers were supposed to become invalid on January 2018, so firms were asked to register for 9-digit e-BINs by December 31 this year to continue their activities such as export, import, participation in tenders, application for loans and so on. “As the amendment of rules is yet to be done, we are considering extending the validity of the manually issued BINs and the deadline for re-registration for e-BINs,” said a senior official of the National Board of Revenue.



MoRTB seeks Tk 5.0b from MoF to make metro-rail co functional

The Ministry of Road Transport and Bridges (MoRTB) has finally sought Tk 5.0 billion from the Ministry of Finance (MoF) to make the state-owned metro-rail company functional amid pressure from the project’s financier. Sources said MoRTB informed the mission of Japan International Cooperation Agency (JICA) during a wrap-up meeting on Sunday that a letter was recently sent to MoF to get Tk 5.00 billion budget for the Dhaka Mass Transit Company Limited (DMTCL). “The fund for the company is sought for the first time although the Japanese financier has been demanding it for long to make the company functional,” said an official. MoRTB was supposed to recruit DMTCL staff, according to the minutes of the discussion signed with JICA. Decisions were taken to recruit around 70 professionals for the company, but no effort was taken earlier to seek fund from MoF. But by January, recruitment for DMTCL will start, he added.

Source: http://today.thefinancialexpress.com.bd/trade-market/mortb-seeks-tk-50b-from-mof-to-make-metro-rail-co-functional-1513794304

Internet users soar

The ICT industry has added one crore active internet connections in the last seven months and crossed the eight crore-mark on the back of the growing use of digital platforms in the country. The country has 8.02 crore active internet connections as of November, Bangladesh Telecommunication Regulatory Commission (BTRC) said in a report yesterday. Of them, 7.47 crore use internet on mobile phones, 53.42 lakh through broadband lines and 88,000 through Wimax, according to the report. As of November, there are 14.31 crore active SIMs in the country. “The growth is very natural and it will be much higher in the near future,” said TIM Nurul Kabir, secretary general of the Association of Mobile Telecom Operators of Bangladesh. “A lot of digital services are available now. The increasing number of such services will boost internet use.”.


Biman earns Tk 1.51b profit

Biman Bangladesh Airlines earned Tk 1.51 billion in profit for the third consecutive year during the fiscal year 2016-17 although its net profit and cargo handling dropped for paying deferred tax and cargo restriction by the United Kingdom. According to a press release of Biman issued on Wednesday, the profit earned during the last fiscal year was Tk 240 million more than that earned in the fiscal year 2015-16 (FY16). But net profit of the national flag carrier was only Tk 470 million during the last fiscal year against Tk 2.35 billion in FY16 and Tk 2.34 billion in FY 2014-15.

Source: http://today.thefinancialexpress.com.bd/trade-market/biman-earns-tk-151b-profit-1513794413

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
Nikkei 22522,806.28↓85.44↓0.37%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 58.06↓0.03↓0.05%
Crude Oil (Brent)$ 64.48↓0.08↓0.12%
Gold Spot$ 1,267.67↑2.10↑0.17%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 82.82
GBP 1BDT 110.70
EUR 1BDT 98.34
INR 1BDT 1.29





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