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 20 2017

Bancassurance now under discussion in financial sector

A latest mechanism of bank-insurance partnership is now in the formative stage to facilitate the sale of insurance products through the banking channel. The proponents of partnership think it may change Bangladesh’s insurance landscape “dramatically”. Sources close to the process say the move is getting increasing importance to the regulators concerned in recent times while the central bank has also shown interest in such alliance-based business in finances.

Source: http://print.thefinancialexpress-bd.com/2017/02/20/165331

No sincere efforts to deepen financial inclusion

Banks are in a race to hook big business clients, ignoring any efforts to deepen financial inclusion, experts said. “Financial inclusion is designed mainly for the unbanked population, but here, all are working for those who are already privileged and covered by the banking channel,” said Toufic A Choudhury, director general of the Bangladesh Institute of Bank Management. Choudhury’s comments came at a session during the second annual economists’ conference of the South Asian Network on Economic Modelling (Sanem) held at the Brac Centre Inn in the city. The hefty charges currently placed on mobile financial services are also a barrier to financial inclusion, he said. At present, users have to pay 1.85 percent as commission. “Financial literacy is another key to achieving optimum inclusion, and we need to run a very conclusive programme on that,” Choudhury added. Banks are not innovative in product designing and they are only interested in the big borrowers, said Salehuddin Ahmed, former governor of the central bank.

Source: http://www.thedailystar.net/business/no-sincere-efforts-deepen-financial-inclusion-analysts-1364116

bKash offers 10pc cashback on purchase at book fair

Customers of bKash will get 10 percent cashback if they purchase books through bKash from the select publishers’ outlets at the month-long Amar Ekushey Grontho Mela. A total of 112 publishing houses will accept bKash payment at the book fair which began on February 1, 2017 on the Bangla Academy premises, according to a statement. The cashback offer remains available for the customers till February 28, the last day of the fair. bKash extended the same offer to its customers in the previous three occasions as well.

Source: http://www.thedailystar.net/business/bkash-offers-10pc-cashback-purchase-book-fair-1364074

January imports up 34.0% on int’l oil price hike

The country’s import payments registered a 34.5% growth in January this year against the 5.0% negative growth in the corresponding month of 2016 due to a rise in payments for petroleum products and some other commodities. According to the latest Bangladesh Bank data, letters of credit involving USD 3.9 billion were settled in January this year against USD 2.9 billion settled in the same month of 2016. The import payments accounted for USD 3.0 billion in January of 2015. A BB official told New Age on Sunday that the settlement of LCs, or actual import payments, increased significantly in January of the current fiscal year 2016-17 as the majority of food products, petroleum products, industrial raw materials and capital machinery rose on the global market during the month. The import of petroleum products increased by 150.8% to USD 218.0 million in January 2017 from USD 87.0 million during the same month a fiscal year ago as the country’s industrial units depended on the products due to the persistent crisis of natural gas.


No gas for industries built in unplanned way

State Minister for Power, Energy and Mineral Resources Nasrul Hamid said if industrial units are set up in unplanned way, the government will not supply gas and energy to those plants. He urged the investors to develop their plants in designated industrial zones, not in farm lands. State minister, however, assured investors in industrial zones of supplying necessary power and gas to their industrial plants.About the country’s electricity situation, he said the government has achieved “a lot” in power generation, though it’s yet to reach its goal.

Source: http://www.dhakatribune.com/business/2017/02/19/no-gas-industries-built-unplanned-way/

China team seeks investment barriers to be dismantled

A visiting Chinese delegation urged the government on Sunday to solve difficulties in attracting more Chinese investment in Bangladesh. He was talking to the media after a business meeting at the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI). The delegation of Chinese government officials and entrepreneurs is a follow up of the Chinese president’s visit to Bangladesh last year. They were working to facilitate the Chinese investments proposed recently in different sectors and infrastructure developments projects of Bangladesh. Mr Lyu, however, termed Bangladesh as one of the most attractive investment destinations in Asia, despite having difficulties like poor backward infrastructure and in getting services from different government agencies.


Western Marine inks deal to build 20 ships

Western Marine Group has signed an agreement with Evergreen Shipping Ltd to build 20 class cargo ships. The agreement on building of 20 units of the ships was signed at the office of Evergreen Shipping Ltd in Chittagong on February 16. Managing Director of Western Marine Shipping Ltd Md Sakhawat Hossain along with Captain ABM Fazle Rabbi, Managing Director of New Western Marine Shipbuilders Ltd, and Md Mostan Billa Adil, Managing Director of Evergreen Shipping Ltd, signed the agreement on behalf of their respective sides. Under the agreement, Western Marine Group will build 20 units of class cargo ships to be delivered to Evergreen Shipping within next 36 months. The ships will be built at an estimated cost of BDT 2.5 billion (BDT 250 crore) which could be considered one of the biggest contracts in terms of the number of ships to be built concurrently in the history of Bangladesh shipbuilding industry.

Source: http://print.thefinancialexpress-bd.com/2017/02/20/165299

Lack of skilled professionals challenge for pharma export

Country’s leading pharmaceutical manufacturers on Saturday said that penetrating overseas markets was a big challenge for Bangladesh’s pharmaceutical sector despite having huge export potential as the sector lacked highly skilled professionals required for the job. This is the right time to sit with the country’s academicians to upgrade the university curriculums to address the requirements of the industry, they said at the Samson H Chowdhury Memorial Conference on Bangladesh pharmaceutical industry. Square Pharmaceuticals Limited organised the conference at the Dhaka Club in the capital. Samson H Chowdhury, who died on January 5, 2012, was the founder of Square Group, one of the country’s business conglomerates.

Source: http://www.newagebd.net/article/9462/lack-of-skilled-professionals-challenge-for-pharma-export

56 industrialists get CIP cards

Fifty-six entrepreneurs yesterday received the CIP or commercially important person’s status in recognition of their contribution to the economy. Industries Minister Amir Hossain Amu handed over the CIP cards for 2015 at a function at Hotel Purbani in the city. Among the recipients, 25 belong to large-scale category, 15 to medium category, five to small-scale category, two to micro industry category and two to cottage industry category. The recipients of CIP cards will enjoy different government-offered privileges for the next one year starting from yesterday. The cardholders will also get invitations to different national functions and civil receptions organised by the city corporations. At the event, Amu hoped the CIPs would involve themselves in the efforts to build an industrialised Bangladesh.

Source: http://www.thedailystar.net/business/56-industrialists-get-cip-cards-1364104

Local and Global Stock Indices

Index NameClose ValueValue ChangePercentage Change
Dow Jones Industrial Average20,624.05↑4.28↑0.02%
Nikkei 2257,299.96↑22.04↑0.30%
FTSE 10019,268.78↑34.16↑0.18%

World Commodities

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)*$53.41↑0.01↑0.02%
Crude Oil (Brent)*$55.8100.00%
Gold Spot*$1,234.05↓0.55↓0.04%

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,

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Managing Director & CEO
Dhaka Bank Limited