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 29, 2018

BB may raise private sector credit growth

Bangladesh Bank is set to raise the private sector credit growth target to about 17 percent for the second half of the fiscal year as it looks to help the government achieve 7.4 percent GDP growth. The target for the first half of fiscal 2017-18 was 16.2 percent and it was expected that the target will be raised slightly to 16.30 percent in the second half’s monetary policy, due to be announced today. At the end of last month, private sector credit growth stood at 18.13 percent — way past the target set for the period. Subsequently, for the next six months, the central bank has decided to raise the target a little more to 17 percent in keeping with the higher demand for money supply in the market, a BB official told The Daily Star yesterday. In another development, the central bank is likely to bring down the loan-deposit ratio ceiling to rein in the runaway loan growth rate, much to the disappointment of banks. The loan-deposit ratio will be 83 percent for conventional banks and 89 percent for Shariah-based banks, according to the BB official.

Source: http://www.thedailystar.net/business/bb-may-raise-private-sector-credit-growth-1526641

More banks likely as 57 in operation

The Financial Institutions Division has recommended the Bangladesh Bank to review a petition for licence for Citizen Bank Limited despite a central bank veto as intense lobbying for licences for new banks continues although the ailing banking sector is already overcrowded with 57 banks. Officials said that Mohammed Iqbal, owner of export oriented BHIS Apparels Limited, applied to the central bank for the licence on November 8, 2017 and persuaded finance minister AMA Muhith to get the proposal approved issued at the earliest.

Source: http://www.newagebd.net/article/33639/more-banks-likely-as-57-in-operation

Muhith warns banks of black money in election year

Finance Minister AMA Muhith yesterday said black money may come into the market in the election year and has subsequently advised banks to be cautious when granting loans. “Money will be in circulation a bit more this year, especially black money, as it is the election year. So you have to be cautious,” Muhith said at Rupali Bank’s annual general meeting held at the capital’s Osmani Memorial Auditorium. In a parallel development, the Bangladesh Bank is likely to announce a lower ceiling for loan-deposit ratio of banks with a view to reining in the runaway loan growth rate in today’s monetary policy statement.


HSBC BD tops Euromoney trade finance survey

The Hongkong and Shanghai Banking Corporation Limited in Bangladesh has won the title of ‘Number 1 Trade Finance Bank in Bangladesh’ and ‘Best in Service for Trade Finance in Bangladesh’ in Euromoney Trade Finance Survey 2018, one of the premier accolades in financial services, said a statement. For the first time, the Bank has also been chosen by its customers as the world’s number 1 global trade finance bank. The survey also announced HSBC to be the leading trade bank in Latin America and the Middle East. Along with Bangladesh the bank also won country awards in Argentina, Hong Kong, India, Mexico, Qatar, Singapore, UAE, UK, US and Vietnam. Commenting on the wins, Francois de Maricourt, Chief Executive Officer, HSBC Bangladesh said, “We are pleased to be recognised by our clients as the country’s number one trade finance bank. The recognition will inspire us to do even better and continue to put clients at the forefront of everything we do.”

Source: http://today.thefinancialexpress.com.bd/stock-corporate/hsbc-bd-tops-euromoney-trade-finance-survey-1517157105

Diversify exports, bring in more FDI

Bangladesh must put serious effort in finding ways to diversify exports and attract more foreign direct investment to sustain its “very admirable and amazing” economic growth, says the European Union (EU). Bangladesh has maintained 7 percent growth over the last couple of years, it said. “It’s still a challenge and progress in these areas will depend on domestic reforms agenda,” EU Ambassador in Dhaka Rensje Teerink said. In an interview with the news agency, she said Bangladesh really needs to look at how it can attract businesses and give confidence to investors that there would be ease of doing business.

Source: http://www.thedailystar.net/business/diversify-exports-bring-more-fdi-1526647

Japan offers assistance in energy sector

Japan is keen to continue cooperation with Bangladesh in various sectors, including power and energy. Visiting Special Advisor of the Prime Minister Japan said that the Prime Minister Sinzo Abe desires to continue cooperation with Bangladesh in various sectors. Sonoura said Matarbari 1200 MW Ultra Super Critical Coal-Fired Power Plant is a flagship project on cooperation between the two countries in the power sector.

Source: http://today.thefinancialexpress.com.bd/trade-market/japan-offers-assistance-in-energy-sector-1517163257

Work begins on 1200 MW Matarbari plant

Prime Minister Sheikh Hasina laid on Sunday the foundation of the 1200 MW Matarbari plant, regarded as a flagship project for being an “ultra super critical coal-fired power” plant to be installed at a cost of Taka 360 billion (36,000 crore), reports BSS. “Our goal is to light up every house of Bangladesh as we want to build Bangladesh as a hunger and poverty-free nation by 2021 and a developed one by 2041,” Sheikh Hasina said marking the event. The premier laid the foundation in a video conference from her Gonobhaban residence. The plant will be constructed at Matarbari of Moheshkhali upazila in Cox’s Bazar with Japan government’s financial and technical cooperation.

Source: http://today.thefinancialexpress.com.bd/last-page/work-begins-on-1200-mw-matarbari-plant-1517161441

Growing fast, pushing up exports

Described as a backward-integration of the Readymade Garment (RMG) sector and other export-oriented industries, the Garments Accessories and Packaging (GAP) sector in Bangladesh is growing fast to push up export earnings and meet the demand of the apparel sector. “For the past 7 years, around 100 new factories have been set-up every year, raising the total number to around 1,600. The net export earnings of the (GAP) sector was $6.70 billion during the 2016–17 financial year (FY), which was only $3.07 billion in the fiscal year 2011–12,” president of the Bangladesh Garments Accessories and Packaging Manufacturers and Exporters Association (BGAPMEA) Abdul Kader Khan told The Independent. “More units are being established as we have to meet a growing demand for accessories created primarily by the RMG sector’s expansion. The accessory-makers and packagers supply about 30 types of products to the RMG sector,” he said.

Source: http://www.theindependentbd.com/post/134755

Chittagong Port to have new multi-purpose terminal

The Chittagong Port Authority (CPA) is going to build a mega container terminal named Laldia Multi-purpose Terminal at a cost of BDT 30 billion on 52 acres of land for enhancing capacity of the country’s premier maritime port. The project is going to be implemented on the Public-Private Partnership (PPP) basis and will be funded by the five members of a consortium with the help of the Asian Development Bank (ADB). The meeting was also told that the project involves the construction of a bulk cargo and container handling terminal including berths, storage facilities, loading and unloading facilities, an administrative space and the installation of equipment with safety and security systems.

Source: http://today.thefinancialexpress.com.bd/trade-market/ctg-port-to-have-new-multi-purpose-terminal-1517163243

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
Nikkei 22523,749.33↑117.45↑0.50%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 66.32↑0.18↑0.27%
Crude Oil (Brent)$ 70.43↓0.09↓0.13%
Gold Spot$ 1,348.69↓0.43↓0.03%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 83.09
GBP 1BDT 117.35
EUR 1BDT 103.05
INR 1BDT 1.31





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