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 18, 2019

Rising default loans affecting Banks’ profits: BB DG

The growing trend of default loans has put an adverse impact on Banks’ profitability and their daily operations, said Bangladesh Bank Deputy Governor SM Moniruzzaman yesterday. “It is a harsh reality,” he said at a roundtable on “Corporate Guarantee: Does It Work in Recovery of Loan?” The Bangladesh Institute of Bank Management (BIBM) organised the event at its office in the capital. Banks have to keep provisioning against their default loans, which directly affects their net profit, Moniruzzaman said. The increase in default loans widen the volume of risk-weighted assets (RWA) in the Banking sector, which, in turn, will create pressure on maintaining the regulatory capital, he added. Banks should follow a cautious policy while disbursing loans by way of taking corporate guarantees, said Barkat-e-Khuda, a professor of the BIBM.

Source: https://www.thedailystar.net/business/banking/news/rising-default-loans-affecting-banks-profits-1773232

 Amazon seeks easier process for taking goods from Bangladesh

Amazon, a US-based e-commerce platform, on Wednesday requested the government to ease process so that the platform could source goods from the country’s small entrepreneurs to its warehouses in US and Europe. A delegation of Amazon, led by its international expansion wing’s category manager Gagan Deep Sagar, made the request when they met State Minister for information and communication technology Zunaid Ahmed Palak at the ICT division in the city. Mr. Palak told reporters that the delegation conveyed to him that the small entrepreneurs found difficulties in fulfilling the requirements of exporting products like opening letter of credit and complying with taxation issues. Amazon proposed for easing the procedural requirements so that the small entrepreneurs could send products directly to the entity’s warehouses, he said. He said that the selling goods to global online platforms like Amazon would help doubling the country’s export earnings by 2030.

Source: http://www.newagebd.net/article/78794/amazon-seeks-easier-process-for-taking-goods-from-bangladesh

 Businesses claim lower turnover to evade VAT: NBR Chief

The National Board of Revenue (NBR) Chairman Md Mosharraf Hossain Bhuiyan said most of the Businesses are claiming their annual turnover to be lower than Tk 30 million to evade payment of value added tax (VAT) at regular rates. The Businesses having an annual turnover below Tk 30 million are entitled to enjoy a reduced rate of VAT at 4.0 per cent, known as turnover VAT, instead of paying VAT on their actual sales of goods and services. Mr. Bhuiyan said the NBR has asked its field-level officials to remain aware of such VAT-evaders to keep revenue collection flow uninterrupted. The NBR Chief also stressed the need for speeding up installation of Electronic Fiscal Device (EFD) to check such VAT evasion. He made these statements at the ‘Customs Modernisation Strategic Action Plan for 2019-2022’ launching ceremony at a city hotel on Wednesday.

Source: http://today.thefinancialexpress.com.bd/first-page/businesses-claim-lower-turnover-to-evade-vat-1563385066

Export, Import Licence Registration goes online

The Commerce Ministry yesterday launched an online platform where exporters and importers can both register and renew their licences, a development aimed at hastening the process and curbing corruption. Commerce Minister Tipu Munshi inaugurated a seven-day fair at a convention hall in the capital’s National Sports Council Tower facilitating fast and hassle-free renewals. Minister said Bangladesh has signed a World Trade Organisation agreement on going paperless to ease business processes and to reduce procedural costs of supply chains. In the current global trade scenario, there is no alternative to paperless trade as almost all countries have adopted technology-based trading systems, he said.

Source: https://www.thedailystar.net/business/news/export-import-licence-registration-goes-online-1773226

 BSEC approves draft prospectus of new Mutual Fund        

The securities regulator has approved the draft prospectus of an open-ended mutual fund, Capitec Popular Life Unit Fund, with an initial target size of Tk 250 million. The approval came at a meeting of the Bangladesh Securities and Exchange Commission (BSEC) held at its office in the city on Tuesday, with its Chairman M Khairul Hossain in the chair. Of the target size, sponsor-directors will provide Tk 50 million, while the remaining Tk 200 million will be collected from general investors by selling its units. The face value of each of the unit will be Tk 10. The Capitec Asset Management Ltd. will act as the asset manager of the fund while the ICB is acting as trustee and custodian of the fund and the Popular Life Insurance Company Ltd is the sponsor. At the meeting, the BSEC also approved a non-convertible subordinate bond worth Tk 5.0 billion in favour of Bank Asia.

Source: https://thefinancialexpress.com.bd/stock/bsec-approves-draft-prospectus-of-new-mutual-fund-1563338688

No fresh NOCs for GP, Robi: BTRC

Mobile operators Grameenphone and Robi will not get fresh ‘no-objection certificates (NOCs)’ until they pay audit claim dues to the government. “We’ll soon stop issuing NOCs to them (GP and Robi). We’ll see what happens next,” said Bangladesh Telecommunication Regulatory Commission (BTRC) Chairman Md. Jahurul Haque. There is a provision to appoint an administrator to realise dues from the two operators, he added. However, bandwidth restrictions on the two leading local telecom operators as a pressing measure to collect dues will go by Wednesday night.

Source: http://today.thefinancialexpress.com.bd/last-page/no-fresh-nocs-for-gp-robi-1563385619

 BASIC Bank’s new Managing Director

Md Rafiqul Alam has recently joined BASIC Bank as its Managing Director.  Prior to joining BASIC, he was the Managing Director of Rajshahi Krishi Unnayan Bank. Earlier, Alam also served Agrani Bank as DMD.

Source: https://www.thedailystar.net/business/news/basic-banks-new-managing-director-1773193

 Two killed in ‘shootout’ in Cox’s Bazar

Two suspected drug peddlers were killed in an alleged gunfight with Border Guard Bangladesh officials in Cox’s Bazar’s Teknaf upazila early yesterday.  The dead were identified as Asmaul Saudagar, 35, from Chandpur, and Zabed Mia, 34, from Jashore.

Source: https://www.thedailystar.net/backpage/news/two-killed-shootout-coxs-bazar-1773001

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
Nikkei 22521,198.01↓271.17↓1.26%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 56.72↓0.06↓0.11%
Crude Oil (Brent)$ 63.73↑0.07↑0.11%
Gold Spot $1,422.23↓4.34↓0.30%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 82.9211
GBP 1BDT 102.9770
EUR 1BDT 93.0180
INR 1BDT 1.2056





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