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 February 04, 2020

Good governance ‘a must to end banking sector’s woes’

A nexus between bank directors, businessmen and lawmakers and inadequate judicial infrastructure are responsible for the melancholy performance of country’s banking sector. Bangladesh Institute of Bank Management (BIBM) organised the lecture at its auditorium. Nurul Matin was one of the founders of BIBM. The former governor of the central bank said the major portion of the defaulted loans in the financial sector originated from trade finance where there is certainly lack of trust and transparency. We need to make sure any inefficiency, even if 0.1 per cent of GDP every year. If you look at the global experience, ranging from the developing to the advanced economies, finance is all about trust. In the language of economics.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/good-governance-a-must-to-end-banking-sectors-woes-1580752010

Allow bonded warehouse facility for all export-oriented sectors

Experts at a session on Monday called for allowing the bonded warehouse (BWH) facility with simplified rules for all the export-oriented sectors to help diversify exports. The session was also informed that though there is no discrimination in the policy regarding availability of the facility, the non-readymade garment sectors were not getting equal treatment in regular practices. The experts, however, identified a number of issues including complex set of rules, manual paper-based process, significant revenue leakage in the current regime, significant amount of redundancy in documentation and data requirements and formalities, absence of required efficiency that are impeding the full potential of BWH facility. The observations and recommendations came at a session on the second day of the SANEM annual economists’ conference (SAEC) 2020 in the city. Out of the total 1,600 items exported in FY’18, some 1,400 were non-RMG, he said, adding that there are more than 4,000 RMG bonded warehouse licences whereas there are only 200 non-RMG licences. Non-RMG exports ranged between US$ 5.0 and US$ 7.0 billion a year during the period of FY2013-17. Effective SBW could have boosted non-RMG exports by nearly $ 1.5 billion a year. To address administrative challenge of managing another 4,000 licensees, in addition to the existing more than 4,000 licensees, she recommended modernisation and full automation of the system.

Source: https://today.thefinancialexpress.com.bd/trade-market/allow-bonded-warehouse-facility-for-all-export-oriented-sectors-1580751126

Square Toiletries holds sales confce-2020

The 1st ‘Annual Sales Conference-2020’ of Square Toiletries Limited Zone was held at Ratnodweep Resort in Pabna. The sales team of Zone 1 (Mymensingh, Rajshahi, and Khulna division) took part in the conference. On the earlier day, they observed the whole production and distribution process in the factory. After the conference, Managing Director Anjan Chowdhury handed over ‘Square Super Hero of the Year- 2019′ and other winners’ awards.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/square-toiletries-holds-sales-confce-2020-1580752068

NCC Bank gets new DMD

M Shamsul Arefin has recently been promoted to the post of deputy managing director of NCC Bank. Prior to the promotion, he was the bank’s senior executive vice president and the head of CRM division, according to a statement. Arefin started his banking career as a probationary officer at the Eastern Bank in 1994.

Source: https://www.thedailystar.net/business/news/ncc-bank-gets-new-dmd-1863295

BD needs better-trained manpower as it grows

German Ambassador in Dhaka Peter Fahrenholtz on Monday has said that Bangladesh requires better-trained manpower as it grows. He also stressed on more investment in the country and laid emphasis on an increased exchange of students, researchers and scientists between Dhaka and Berlin. Germany is the third most popular country for international students as they constitute 13.76 per cent of the total number of students in Germany. The number of Bangladeshi students in Germany stood at 3,220 in 2018. DAAD (German Academic Exchange Service) regional office in New Delhi together with DAAD Information Centre in Dhaka has been promoting Bangladesh-German academic collaboration. Responding to a question, DAAD Regional Director Katja Lasch said they provide excellent education at a low cost.

Source: https://today.thefinancialexpress.com.bd/trade-market/bd-needs-better-trained-manpower-as-it-grows-1580751192

‘Emission tax’ on outdated vehicles in the offing

The government is considering introduction of “emission tax” on the old and outdated vehicles, which emit more carbon and release harmful particles to air. A high-level committee of the government, formed to prepare a policy on the control of air pollution, at its meeting on Monday decided to incorporate a provision into the policy allowing “emission tax” on the old and outdated vehicles.

Source: https://today.thefinancialexpress.com.bd/trade-market/emission-tax-on-outdated-vehicles-in-the-offing-1580751260

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DSEX4,506.87988↑ 25.37↑ 0.57 %
↑ 143.78↑ 0.51 %
FTSE1007,326.31↑ 40.30↑ 0.55 %
Nikkei 22523,050.13↑ 78.19↑ 0.34 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 50.49↑ 0.38↑ 0.76 %
Crude Oil (Brent)$ 54.75 ↑ 0.30↑ 0.55 %
Gold Spot$ 1,575.48↓ 1.25↓ 0.08 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 83.1445
GBP 1BDT 108.720
EUR 1BDT 92.0238
INR 1BDT 1.16240





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