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 Jul 09, 2019

Steps taken to make capital market vibrant: PM

Prime Minister Sheikh Hasina yesterday said her government has taken various steps to ensure a vibrant capital market that will supplement its efforts to make Bangladesh a developed country by 2041. “Various measures are being taken to protect the interests of investors which will ensure a conducive environment for a vibrant capital market,” PM said. The Prime Minister spoke while inaugurating a regional seminar on “Financial literacy and investment protection”. The Bangladesh Securities and Exchange Commission (BSEC) and the Asian Development Bank (ADB) jointly organised the seminar. PM said industrialisation is the key to employment generation in the country and it requires investors from home and abroad along with the investment capital.

Source: https://www.thedailystar.net/business/news/steps-taken-make-capital-market-vibrant-pm-1768798

MoI finalises leather goods development policy draft

According to officials, the Ministry of Industries (MoI) has prepared a draft of the Leather and Leather Goods Development Policy 2019. The MoI has prepared the draft policy for development of the leather sector after scrutinising recommendations of 25 different ministries. “We have finalised a draft of the Leather and Leather Goods Development Policy 2019, considering potentials of the sector to contribute to the country’s economy,” officials also said. The ministry will soon send the draft policy to the Cabinet Division for approval by the cabinet. In the proposed policy, priority is given to three categories – finished leather, footwear/ shoes, and leather goods/ products. The draft policy also suggests providing the same facilities like the ready-made garment (RMG) sector to the leather sector, the second largest export-earning sector of the country. The proposed policy also suggests offering speedy customs clearance services to the leather and leather goods exporters.

Source: https://thefinancialexpress.com.bd/trade/moi-finalises-leather-goods-development-policy-draft-1562477813

 NBR to launch mobile app to prevent Tax evasion

The National Board of Revenue (NBR) is going to launch a ‘mobile app’ for increasing the number of taxpayers and preventing tax evasion. “We will make web-based software and a mobile app for increasing the number of taxpayers. Through the app, we will bring all taxable persons under the tax net,” a senior official of NBR said. He informed that a total 649 tax zones across the country will be included with the mobile app and anyone can examine their tax certificate through using the mobile app. “When a customer or general citizen can make a complaint against Business establishment regarding the payment of tax through using the mobile app, normally the businessman will become careful in this regard and pay tax regularly,” he added. The official also said the government will amend the existing law for effectively using the mobile app against tax evasion as well as increasing the number of taxpayers.

Source: https://thefinancialexpress.com.bd/economy/nbr-to-launch-mobile-app-to-prevent-tax-evasion-1562585889

Govt to spend Tk 10.40b for paddy purchase

The government will spend Tk 10.40 billion for procuring 400,000 metric tonnes of paddy from the farmers during the current boro season. Food Minister Sadhan Chandra Majumder gave the information while replying to a question in the parliament on Monday. “The price of per tonne paddy will be procured at Tk 26,000” the Minister said. The Minister also informed the parliament that the so far food ministry procured 79,463 metric tonnes of paddy with a price of Taka 2.07 billion.

Source: https://thefinancialexpress.com.bd/trade/govt-to-spend-tk-1040b-for-paddy-purchase-1562591777

 People’s Leasing faces liquidation   

The government has directed the Central Bank to liquidate People’s Leasing and Financial Services (PLFS), a non-bank financial institution, due to deterioration of its financial health in the last several years. If the liquidation goes through — in line with the Financial Institutions Act, 1993 — it will be a first in Bangladesh’s financial sector. Previously, two Banks — Bank of Credit and Commerce International and Oriental — that were on their last legs were restructured but not liquidated. Liquidation of PLFS means closing its operations permanently and the government will take actions to settle liabilities by selling off its assets. But the Central Bank as the regulator has to take approval from the High Court before liquidation. Earlier on June 27, the Finance Ministry instructed the Central Bank to shutter the NBFI for its failure to improve its conditions, said Asadul Islam, Senior Secretary of the Banking division.

Source: https://www.thedailystar.net/business/news/peoples-leasing-faces-liquidation-1768792

Double-digit export growth in FY19

The country’s merchandise export earnings grew by 10.55 percent year-on-year to $40.53 billion in the immediate past fiscal year riding on a high volume of garment shipment in a favourable external business environment. The earnings were 3.94 percent higher than the annual target of $39 billion in 2018-19. In 2017-18, Bangladesh exported goods worth $36.66 billion. However, June recorded one of the lowest export receipts at $2.78 billion, which is also 5.27 percent less than that of the corresponding month in the previous fiscal year, according to Export Promotion Bureau (EPB) data released yesterday. In June of 2017-18, Bangladesh’s export earnings were $2.93 billion.

Source: https://www.thedailystar.net/business/export/news/double-digit-export-growth-fy19-1768774

 New MD for AB Bank

Tarique Afzal has recently been appointed President and Managing Director of AB Bank. He was earlier the acting President and Managing Director. He joined AB Bank as Deputy Managing Director.

Source: https://www.thedailystar.net/business/banking/news/new-md-ab-bank-1768717

 NBR to issue VAT consultant licence

The National Board of Revenue will give licences to eligible individuals as VAT consultants to advise Businesses on issues related to value-added tax and represent them in tax offices. The revenue board has already framed rules tilted VAT Consultant Licencing Rules-2019 to facilitate issuance of such licences for removal of scarcity of skilled professionals in the sector. Officials said that the number of Businesses and coverage of the indirect tax had been expanding remarkably along with the growing economy of the country but the number of independent VAT professionals was very insignificant causing difficulties for traders in receiving effective services from VAT officials.

Source: http://www.newagebd.net/article/77889/nbr-to-issue-vat-consultant-licence

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
Nikkei 22521,595.31↑60.96↑0.28%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 57.45↓0.21↓0.36%
Crude Oil (Brent)$ 63.86↓0.25↓0.39%
Gold Spot $1,393.12↓2.41↓0.17%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 82.9697
GBP 1BDT 103.8730
EUR 1BDT 93.0911
INR 1BDT 1.2094





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