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 – January 11 2017

Bangladesh Bank rejects IFIC Bank plea to buy loss-making US exchange house for $3m

Bangladesh Bank has rejected an application of IFIC Bank Ltd to purchase a loss-making exchange house in United States for USD 3.0 million. IFIC Bank Ltd submitted the application to the central bank on November 6, 2016 requesting to allow it to purchase a US-based exchange house namely Sunman Global Express Corporation. The bank in its application said that it wanted to purchase 100% shares worth USD 3.0 million of the exchange house to expand its business to United States. A BB official told New Age on Tuesday that it was not logical that any bank would purchase such type of a loss-making exchange house by spending USD 3.0 million or BDT 24 crore. The IFIC Bank in its application said that the exchange house had taken license in 1998 from NYS Department of Financial Services of US and it had earlier operated business namely Rupali Exchange Inc.

Source: http://www.newagebd.net/article/6697/bb-rejects-ific-plea-to-buy-loss-making-us-exchange-house-for-3m

ACC asks for documents from Farmers Bank

The Anti-Corruption Commission has sent a letter to Farmers Bank Limited asking for documents in connection with its ongoing inquiry into alleged irregularities in lending Tk 171 crore by the bank’s managing director and other directors. Commission’s deputy director Jahangir Alam sent the letter to Farmers Bank managing director AKM Shameem on Sunday asking for the documents of approved loans worth Tk 135 crore given by its Gulshan branch and Tk 36 crore given by Motijheel branch.

Source: http://www.newagebd.net/article/6709/acc-asks-for-documents-from-farmers-bank

BDT depreciates against US dollar again

The Bangladesh currency depreciated maximum six paisa against the US dollar in a single-day knock Tuesday, after nearly two weeks’ interval. According to treasury officials of commercial banks, the dollar was quoted at BDT 78.70-Tk 78.76 on the inter-bank foreign exchange market Tuesday against BDT 78.70 of the previous working day. They also said the international trading currency had been quoted at BDT 78.70 as single rate since December 29 last year.

Source: http://print.thefinancialexpress-bd.com/2017/01/11/161741

Move to make insurance for migrants mandatory

The government moves to make mandatory insurance policies for outbound Bangladeshis to cover financial and other losses they could suffer while living and working abroad, sources said. More often than not, the expatriates fall victim of deception sometimes by recruiters and sometimes by foreign employers. They do not give assured jobs, and benefits when the expatriates encounter accidents abroad. Bangladesh sends more than half a million workers to different parts of the world but does not currently have such insurance policies for them. People who work for rights of the expatriates said such system should have been participatory in order to avoid any rise in migration cost, which stands too high.

Source: http://print.thefinancialexpress-bd.com/2017/01/11/161697

Delay, cost rise still major concern

The Awami League government had taken up a good number of infrastructure development projects since assuming office eight years ago but only a handful of those could be implemented. In the first three years of its current tenure, the government inaugurated a few of these projects which improved road and rail communications to some extent. Dhaka-Mawa-Bhanga dual carriageway expressway, Dhaka-Sylhet, Joydevpur-Elenga, and Elenga-Rangpur dual carriageways are a few of the major road expansion projects the government took up since the AL returned to power in 2014. The Dhaka-Bhanga and Joydevpur-Elenga projects seem to have good pace but ground work for the other two is yet to begin.

Source: http://www.thedailystar.net/frontpage/still-plagued-delay-cost-rise-1343485

Government agencies spend less than one-fourth of ADP fund in H1

Government project-executing agencies’ capacity stays stymied below par as they spent barely a fourth of the development-budget outlay in the first half of the current financial year, officials said. They utilized BDT 334.4 billion or barely 27% of the total BDT 1.2-trillion outlay of the Annual Development Programme (ADP) in July-December period, Implementation Monitoring and Evaluation Division (IMED) data showed.

Source: http://print.thefinancialexpress-bd.com/2017/01/11/161753

Dhaka likely to ink trade deal with Eurasian Economic Union (EEU)

Bangladesh is likely to ink a deal with Eurasian Economic Union (EEU) for paving the way for duty-free access to the Russian market and exploring untapped export potential in East European markets, officials said. The ministry of commerce (MoC) recently finalized draft of a memorandum of understanding (MoU) in this regard which earlier the EEU had forwarded to Bangladesh embassy in Moscow, they added. The EEU groups five northern Eurasian countries-Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia. These nations have common customs border and a single market of 183 million people and a gross domestic product of over USD 4.0 trillion.

Source: http://print.thefinancialexpress-bd.com/2017/01/11/161752

Local and Global Stock Indices

Index NameClose ValueValue ChangePercentage Change
Dow Jones Industrial Average19,855.53↓31.85↓0.16%
Nikkei 2257,275.47↑37.7↑0.52%
FTSE 10019,370.86↑69.42↑0.36%

World Commodities

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)*$50.97↑0.15↑0.30%
Crude Oil (Brent)*$53.76↑0.12↑0.22
Gold Spot*$1,187.57↓0.31↓0.03%

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