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 30, 2020

WB ‘committed to develop Bangladesh’

The World Bank’s portfolio in Bangladesh has nearly doubled in the last six years to $11.6 billion, with the country being one of the largest beneficiaries of concessional credit. The Washington-based multilateral lender was among the first development partners to support Bangladesh following its independence. Since then, the World Bank has committed over $30 billion, mostly in grants, interest-free and concessional credits to Bangladesh. During the forum, Schafer exchanged words with the finance minister and other senior government officials, civil society representative and development partners.

Source: https://www.thedailystar.net/business/news/wb-committed-develop-bangladesh-1861024

ADB aims to help Bangladesh achieve SDGs

Asian Development Bank (ADB) Vice-President Shixin Chen reaffirmed the multilateral lender’s commitment to help Bangladesh achieve its Sustainable Development Goals (SGD) while addressing the Bangladesh Development Forum. Ever since Bangladesh became an ADB member in 1973, the bank has mobilised more than $25 billion in loans and grants to help bring better infrastructure, public services, and social development outcomes to the people. Bangladesh is now a global example for economic progress with an average GDP growth rate of more than 6.7 per cent over the last decade. The key challenges ahead include increasing investments, both public and private, to close infrastructure gaps, improve skills, diversify the industrial base and improve the business climate, he said, adding that Bangladesh has made serious efforts to meet SDGs.

Source: https://www.thedailystar.net/business/news/adb-aims-help-bangladesh-achieve-sdgs-1861018

Make prompt LC payment or face the music

The central back yesterday instructed banks to make their import payment to corresponding foreign banks on time or else strict actions will be taken against the errant lenders. A good number of banks have recently showed an unwillingness to make import payments on time, which has had an adverse impact on the country’s international image. Senior bankers welcomed the initiative, saying that many foreign banks are reluctant to accept letters of credit (LC) issued from Bangladesh as a few local lenders frequently breach the terms and conditions while making payments. The banks are also forced to pay additional interest to their corresponding lenders due to their failure to settle LCs promptly. Besides, the confirmation charge for LCs is also on the rise as a result of the added pressure on the country’s foreign exchange reserve. Confirmation fees are a security mechanism that eliminates risks for exporters. When exporters are not comfortable with the LC-issuing bank, usually due to insolvency risks or local political factors or sometimes both, they may seek an additional guarantee for the LCs. Malpractice in the industry has also had a negative impact on the country’s balance of payments. In breach of global norms, some banks do not make import payments in order to provide extra facilities to their clients, said a bank official requesting anonymity as he is not authorised to speak with media. Clients get extra time to adjust the bank loans against their LCs if their lenders do not duly make import payments.

Source: https://www.thedailystar.net/business/news/make-prompt-lc-payment-or-face-the-music-1861042

BD to be world’s 15th largest economy soon

Health and Family Welfare Minister Zahid Malique has said that Bangladesh is marching ahead and hopefully it would be the 15th economic power soon in the world. Bangladesh is now holding 35th position in economic index across the world and we hope that it would become the 15th economic power soon. The country’s economic growth has reached 8.5 per cent and per capita income is more than US $ 1,900, he mentioned, saying that the country’s foreign reserve stands at US $33 billion now and export earning is more than US $70 billion.

Source: https://today.thefinancialexpress.com.bd/trade-market/bd-to-be-worlds-15th-largest-economy-soon-1580319870

DSE/CSE News in Brief

Vanguard AML Rupali Bank Balanced Fund: The trustee committee of the fund declared no dividend based on net loss for the year ended on December 31, 2019. The trustee of the fund also reported EPU of Tk. (1.80), NAV per unit at market price of Tk. 8.49, NAV per unit at cost price of Tk. 10.49 and NOCFPU of Tk. 0.14 for the year ended on December 31, 2019 as against Tk. (0.18), Tk. 10.78, Tk. 11.52 and Tk. 0.12 respectively for the same period of the previous year. Disbursement of dividend: Central Pharmaceuticals Limited: The company disbursed the cash dividend for the year ended on June 30, 2019 to the respective shareholders. Metro Spinning Limited: The company disbursed the cash dividend for the year ended on June 30, 2019 to the respective shareholders. Shurwid Industries Ltd: The company disbursed the cash dividend for the year ended on June 30, 2019 to the respective shareholders through courier service on Tuesday.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/dsecse-news-in-brief-30-01-2020-1580320583

Marico declares 300pc interim cash dividend

Marico Bangladesh has declared 300 per cent interim cash dividend for the year ending on March 31, 2020 based on nine months financials. It is the third interim dividends declaration for the year ending on March 31, 2020. Earlier, the company disbursed 250 per cent interim cash dividend based on three months financials and 200 per cent interim cash dividend based on six months financials. The record date for entitlement of interim cash dividend is on February 18, said an official disclosure on Wednesday. The multinational company’s earnings per share (EPS) stood at Tk 19.68 for October-December 2019 as against Tk 16.47 for October-December 2018.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/marico-declares-300pc-interim-cash-dividend-1580320399

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DSEX4,510.77044↑ 17.75↑ 0.39 %
↑ 11.60↑ 0.04 %
FTSE1007,483.57↑ 2.88↑ 0.04 %
Nikkei 22523,024.83↓ 354.57↓ 1.52 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 52.80↓ 0.53↓ 0.99 %
Crude Oil (Brent)$ 59.22↓ 0.59↓ 0.99 %
Gold Spot$ 1,580.24↑ 3.41↑ 0.22 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 83.1769
GBP 1BDT 108.240
EUR 1BDT 91.5536
INR 1BDT 1.16654





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