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 28 2016

Banks plan to issue bonds to boost capital

Many public and private banks have been considering issuing bonds next year to maintain the new international standards for capital adequacy ratio. Officials at the finance ministry and the Bangladesh Bank said the government has been considering releasing bonds to meet the huge capital shortfall in BASIC, Sonali and Rupali banks. But private banks have been mulling over the same but to increase their capital more in accordance with international standards. The amount of capital that may be raised from the market has not yet been finalised, but BDT 40.0 billion to BDT 50.0 billion worth of bonds may be released, officials said. The government has been considering issuing bonds worth more than BDT 25.0 billion for scam-hit BASIC Bank and BDT 5.0 billion for Rupali Bank. Four private banks have sought permission from the central bank to issue bonds to improve their capital base.

Source: http://www.thedailystar.net/business/banks-plan-issue-bonds-boost-capital-1336567

BDT appreciates vs US dollar by 10 paisa

The local currency BDT appreciated by 10 paisa against US dollar on Tuesday in a single day after two months in the inter-bank foreign exchange (forex) market. The US dollar was quoted at BDT 78.70-BDT 78.80 against BDT 78.80 of the previous working day, according to treasury officials of commercial banks. It was BDT 78.80-BDT 78.85 on Thursday.

Source: http://print.thefinancialexpress-bd.com/2016/12/28/160546

BASIC getting bond to meet capital shortfall

Finance Minister AMA Muhith said Tuesday the government will give funds for recapitalisation of the cash-strapped BASIC Bank to help keep it afloat.The problem-ridden bank had sought BDT 26.0 billion in the form of bond to help meet its capital shortfall as per requirement of the Basel-III provision. Mr Muhith last Wednesday approved a proposal of banking division and asked the finance division to take steps for issuance of bond.


Bangladesh Bank relaxes rules, cuts cost of remittance harnessing

The central bank relaxed the policy on drawing arrangement between offshore exchange houses and local banks and slashed the deposit to augment falling remittance receipts. Under the relaxation, the amount of security deposit for drawing arrangement came down to USD 10,000 from USD 25,000 while security deposit for Non-Resident BDT (NRT) account got trimmed down to BDT 0.2 million from BDT 0.5 million.

Source: http://print.thefinancialexpress-bd.com/2016/12/28/160550

Government to cut foreign aid in ADP

The government moves to revise down the project aid (PA) in the current development budget as many project-executing agencies performed poorly in utilisation of the allocated foreign funds. Officials said Monday government’s Economic Relations Division (ERD) has arranged two days of consultation with the agencies concerned on revision of the project aid (PA). The foreign-fund-mobilising authority, ERD, will sit with 93 government ministries and agencies today (Wednesday) while with another 47 tomorrow (Thursday).

Source: http://print.thefinancialexpress-bd.com/2016/12/28/160541

Four state-owned gas companies owe BDT 308.0 billion to National Board of Revenue (NBR)

The National Board of Revenue (NBR) has decided to step up its efforts to realise arrear revenue worth BDT 308.0 billion from four state-owned companies under Petrobangla. Titas Gas Transmission and Distribution System Limited, Bakhrabad Gas Distribution Company Limited, Jalalabad Gas Transmission and Distribution System Limited and Karnaphuli Gas Distribution Company Limited owe the amount against distribution of gas produced by the International Oil Companies (IOCs). Large Taxpayers Unit (LTU) under the Value Added Tax (VAT) wing has issued a total of seven demand notices to Petrobangla from May 20, 2015 to December 14, 2016 to clear the dues.


New wage board for RMG workers recommended

The Dhaka District Magistrate in a report has recommended the Cabinet Division to form a new wage board especially for the garment industry workers. According to official sources, the recommendation came in the wake of the workers unrest in Ashulia on the outskirts of the capital Dhaka. The garment factory owners reopened their factories yesterday. The factories remained closed since December 20 due to workers’ unrest. State Minister for Labour and Employment Mujibul Haque Chunnu ruled out the possibility of forming a new wage board for garment workers this year as such a wage board is due in 2018. According to the magistrate’s report, major demand of the garment workers is giving workers a minimum wage of BDT15, 000. During the workers’ unrest in Ashulia, some 69 garment factories declared that they were shutting down their manufacturing units. In 2013 the government declared a minimum wage of BDT5,300 per month for garment industry workers. Earlier, the figure was BDT3,000.

Source: http://www.dhakatribune.com/business/2016/12/27/new-wage-board-rmg-workers-recommended/

Local and Global Stock Indices

Index NameClose ValueValue ChangePercentage Change
Dow Jones Industrial Average19,945.04↑11.23↑0.06%
Nikkei 2257,068.17↑4.49↑0.14%
FTSE 10019,409.34↑6.28↑0.03%

World Commodities

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)*$53.81↓0.09↓0.17%
Crude Oil (Brent)*$55.98↓0.11↓0.20%
Gold Spot*$1,149.94↑3.06↑0.27%

Major Currencies Exchange Rates Movement in Last Seven Days





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