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

Click to Close

Rate last updated: 02/01/2014 11:15:04 AM

Important Business News Extracts December 31, 2019

Cut in Lending Rates to 9.0pc from Apr 01

Top managements of the country’s banks, particularly the private commercial banks (PCBs), have agreed to bring down their interest rates on all loans, except on credit cards, at 9.0 per cent from the existing level from April 01, 2020, instead of tomorrow (January 01). The decision was taken at a meeting of the chairmen and managing directors of all the PCBs with Finance Minister A H M Mustafa Kamal at the Bangladesh Association of Banks (BAB) office in the capital on Monday night. The meeting also decided that the interest rate on deposits will be brought down to maximum 6.0 per cent instead of the existing level from April 01. The government had decided to allow the state entities to deposit 50 per cent of their funds with the PCBs, up from the previous ceiling of 25 per cent, to minimise the cost of funds in banking sector. The borrowers from such industrial manufacturing sectors will get loans at 9.0 per cent interest rate instead of the existing level of around 12.00 per cent after implementation of the BB board’s decision. On December 24, the BB board of directors approved a proposal on single-digit lending rate for industrial manufacturers to facilitate the country’s economic growth.

Source: https://today.thefinancialexpress.com.bd/first-page/cut-in-lending-rates-to-90pc-from-apr-01-1577728589

DSE launches new Index with quality Large Cap Companies

The Dhaka Stock Exchange (DSE) launched a new index on Monday as part of the business and technical collaboration initiatives with its Chinese strategic partners. The new index – CNI-DSE Select Index (CDSET) – includes 40 well-performing large companies of the market, based on their present market capitalisation, profit and liquidity. The base value of the new index is 1,000 points, and the base date is December 31, 2015. Performance of the companies will be reviewed twice a year. A Chinese consortium, consisting of the SZSE and the SSE, became the DSE’s strategic partner in May last year by purchasing the bourse’s 25 per cent stake worth about Tk 9.47 billion. Besides, the Chinese consortium will provide technical support worth nearly US$ 37 million for free. Currently, the DSE has three indices – the DSE Broad Index, DSE 30 Index and DSE Shariah Index.

Source: https://today.thefinancialexpress.com.bd/first-page/dse-launches-new-index-with-quality-large-cap-cos-1577728709

A gloomy year for Stock Investors

The capital market passed yet another gloomy year as the core index of the Dhaka Stock Exchange (DSE) lost 18.5 per cent year-on-year in 2019, after hitting a 42-month low. After the stock market crash in 2010-2011, the government came up with some instant market supportive measures. The market even after nine years of a fragile journey, failed to get a strong foothold, as investors were discouraged by one issue after another. The market has been in the doldrums almost throughout the year 2019 amid investors’ confidence crisis. The index was hovering between 4,390 and 5, 950 points during the year. The index reached highest at 5,950 on January 24 while dipping to 42-month low to 4,390 on December 24 amid lack of institutional investor participation. Between January 01 and December 30, 2019, DSEX, the prime index of DSE, lost 1,012 points or 18.52 per cent to close the year at 4,452 on Monday. As of Monday, the other indicators of DSE also remained in the negative territory. Market capitalisation of the prime bourse also shed 13.22 per cent in the outgoing year to Tk 3,395 billion.The daily turnover, another important gauge, stood at Tk 4.80 billion on an average, down by 13 per cent year-on-year, in 2019. The port city’s bourse, Chittagong Stock Exchange (CSE), also saw sharp fall in the outgoing year with its CSE All Share Price Index – CASPI -losing 2,854 points or 17.44 per cent to settle at 13,505 and the Selective Categories Index – CSCX -plunging 1,707 points or 17.25 per cent to finish the year at 8,187 on Monday. The blue-chip index DS30, which groups 30 prominent companies, lost 246 points or 20 per cent to come down to 999 on Monday, after hitting a six-year low since April, 2014.

Source: https://today.thefinancialexpress.com.bd/last-page/a-gloomy-year-for-stock-investors-1577729058

Rupali Bank to raise Tk 10b through Bond Issue

The board of directors of Rupali Bank Ltd has decided to raise fund against issuance of coupon bearing non-convertible perpetual bond worth Tk 10 billion through private placement. The state-run bank will issue the bond for raising fund as part of the additional Tier-I revised regulatory capital framework for bank in line with Basel-III, according to an official disclosure on Monday. The purpose of the proposed bond is to strengthen the capital base of the bank. The issuing of bonds is subject to the approval from concerned regulatory authorities – Bangladesh Bank (BB) and Bangladesh Securities and Exchange Commission (BSEC), the disclosure added. Each share of the bank, which was listed on the Dhaka Stock Exchange (DSE) in 1986, closed at Tk 30.50 each on Monday, registering an increase of 1.67 per cent over the previous day. The bank’s share traded between Tk 27.90 and Tk 47.60 in the last one year. The consolidated net asset value (NAV) per share was Tk 39.90 as on September 30, 2019 and Tk 41.57 as on December 31, 2018. The bank disbursed 10 per cent stock dividend for the year ended on December 31, 2018. The bank’s paid-up capital is Tk 4.14 billion and authorised capital is Tk 7.0 billion, while the number of securities is 414.16 million.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/rupali-bank-to-raise-tk-10b-through-bond-issue-1577731310

PwC bags NBR project to implement National Single Window

National Board of Revenue (NBR) recently appointed PwC to conceptualise, design, and develop the technological, governance and operational framework for the roll out of National Single Window in Bangladesh. As a part of the project, PwC will also support financial and technical requirements and implement its development which will revolutionise trade in the country, said a statement. The Bangladesh National Single Window would act like a catalyst to streamline international trade procedures, minimising the time, effort, and resources needed to conduct trade, while maintaining all requisite government controls. This will go a long way in transforming Bangladesh’s economy and make it future ready.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/pwc-bags-nbr-project-to-implement-national-single-window-1577731287

Fresh water ATM booth set to be launched in Ctg tomorrow

An ATM booth has been installed in the city’s Khulshi area from which people will be able to collect fresh water from January 01 by punching in their prepaid cards. All the mechanisms of the booth are like an electronic banking outlet – thus the name. But after a customer punches in his or her card, instead of cash he or she will receive fresh water. The pilot project is being implemented by a US company named Drinkwell, with assistance from Chattogram WASA. The company will buy water from WASA and sell it to customers after purifying it. Each litre of water will be sold at 60 paisas from the booth. WASA authorities said initially one booth was installed in the city. They have a plan to establish 100 more booths within the next one year. Currently, they are working to install booths in front of the WASA headquarters, Agrabad WASA office and at Bahaddarhat of the city. Engineer AKM Fayzullah, managing director of Chattogram WASA, said the booth system is being used for selling water in the developed countries, including the USA.

Source: https://today.thefinancialexpress.com.bd/country/fresh-water-atm-booth-set-to-be-launched-in-ctg-tomorrow-1577718285

MTB-Mastercard rolls out QR code payment

Mutual Trust Bank in a collaboration with Mastercard is set to a launch interoperable Quick Response (QR) code-based payment acceptance solution — Bangla QR — aiming to boost cashless transaction. The Bangla QR will allow cardholders using Mastercard-branded credit, debit and prepaid cards issued by MTB to carry out payments using a QR code generated by the bank’s mobile banking application. This method of payment will be the first-of-its-kind in Bangladesh, marking an important milestone in the country’s adoption of contactless payments. Electronic or digital payments have been growing steadily in Bangladesh for the last several years. The sector has grown 120 percent per year since 2011, said a report jointly produced by Better Than Cash Alliance and a2i project of the Bangladesh government. Mastercard is planning to introduce more technology-based solutions for its customers to aid in the creation of a simple, safe and efficient digital payment environment and to build a digital Bangladesh.

Source: https://www.thedailystar.net/business/news/mtb-mastercard-rolls-out-qr-code-payment-1847473

US, China, Germany profit most from Global Free Trade

The world’s three biggest exporters, Germany, China and the United States, are the biggest beneficiaries of membership of the World Trade Organisation, a new study by the Bertelsmann Foundation published on Monday revealed, reports Deutsche Welle. The countries have achieved the biggest income gains as a result of the rules-based global trading system, the study found. The US benefited by $87 billion (€77.7 billion) in 2016, China by $86 billion while Germany reaped some $66 billion in financial rewards. A group of scientists calculated the wealth effects of WTO membership on 180 countries, including all 164 WTO members. Both internal and external trade flows were included. While WTO members enjoyed an average export increase of 14 per cent between 1980 and 2016, the Bertelsmann report found that exports to countries outside the WTO fell by an average of 5.5 per cent.

Source: https://today.thefinancialexpress.com.bd/trade-market/us-china-germany-profit-most-from-global-free-trade-study-1577732131

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
↓ 183.12↓ 0.64%
FTSE1007,587.05↓ 57.85↓ 0.76%
Nikkei 22523,656.62↓181.10↓ 0.76%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 61.63 ↓ 0.05↓ 0.08 %
Crude Oil (Brent)$ 68.44 ↑ 0.28↑ 0.41 %
Gold Spot$ 1,521.69↑ 6.53↑ 0.43 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 83.1893
GBP 1BDT 109.111
EUR 1BDT 93.1605
INR 1BDT 1.16501





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