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 24, 2019

BB increases Farm Loan disbursement target by 10.66pc

The Bangladesh Bank has raised the agriculture and rural loan disbursement target by 10.66 per cent for the current fiscal year (FY2019-20), compared to the immediate past fiscal year. The Central Bank set the target at Taka 241.24 billion for FY20, which was was Taka 218.00 billion in the last fiscal. Deputy Governor of the Central Bank SM Moniruzzaman announced the target on Tuesday while rolling out the agriculture and rural credit policy for the FY20 at a meeting at the Central Bank’s headquarters in Dhaka. According to the new policy, State owned Commercial and Specialised Banks will disburse Taka 103.75 billion while private and foreign Commercial Banks will disburse Taka 137.49 billion. The Deputy Governor said the target will not be difficult to achieve for the Banks, as they disbursed Taka 236.16 billion last fiscal exceeding their annual disbursement target (by 8.33 per cent).

Source: https://thefinancialexpress.com.bd/economy/bb-increases-farm-loan-disbursement-target-by-1066pc-1563877697

VAT on Pharmaceutical items included in retail prices: NBR

Pharmaceutical Companies will have to consider that the rates of value-added tax on both production and sales of medicines are included in the retail prices of the products set by the Director General of Drug Administration, the National Board of Revenue said. The VAT rate applicable to production of medicines is 15 per cent and to sales of the products is 2.4 per cent under the new VAT and Supplementary Duty Act-2012 that came into effect from July 1 and the Companies will count the VAT within the price and pay it to the government exchequer, it said. Traders will not charge consumers any VAT at trading stage, it added. The revenue board said it in a general order issued determining the VAT calculation and collection method for medicines and petroleum products such as diesel, kerosene, octane, petrol and furnace oil to keep the prices of the products stable and avoid confusion over VAT on the sectors.

Source: http://www.newagebd.net/article/79426/vat-on-pharma-items-included-in-retail-prices-nbr-says

BAIL to set up $200m plant to make Electric Vehicle

Local automobile Company Bangladesh Auto Industries Ltd (BAIL) is all set to make Electric Vehicles from next year with an initial investment of $200 million. The facilities, civil work and utility connection of the proposed plant on a 100-acre of land at the Mirsarai economic zone in Chattogram will be completed by December this year, Mir Masud Kabir, said Managing Director of BAIL. He also added, they will install the manufacturing equipment by March next year and the manufacturing will begin in June. BAIL will manufacture two-wheelers, three-wheelers, sedan, hatchback and Sport Utility Vehicle (SUV) and has plans to produce pick-ups, mini-trucks and multipurpose vehicles. Of the planned $200 million investment, 80 percent will be sourced locally, while the rest will enter the country as a foreign direct investment.

Source: https://www.thedailystar.net/business/news/local-firm-set-200m-plant-make-electric-vehicle-1776208

Stocks rebound on Regulators’ intervention

Dhaka stocks on Tuesday rebounded as some institutional investors moved to halt a continuous plunge in share prices amid the market regulator’s intervention. DSEX, the key index of Dhaka Stock Exchange, soared by 2.24 per cent, or 111.31 points, to close at 5,077.75 points on Tuesday after losing 170 points in the previous three sessions. The market began to soar from the very beginning of the day and continued with the momentum until the end of the session as the regulator moved to halt the downward trend after a plunge of 167 points in the previous two days, market operators said. They said that the institutional investors were active throughout the session following their meetings with market regulator Bangladesh Securities and Exchange Commission.

Source: http://www.newagebd.net/article/79427/stocks-rebound-on-regulators-intervention

BB hiked transaction limit of PSP e-wallet

Bangladesh Bank on Tuesday raised transaction limit through payment service providers’ e-wallet. The Central Bank has allowed running e-wallets like iPay and Dmoney setting transactions limit for each of them but fixed the transaction limit for PSP sector for the first time by raising the limit, a BB senior official said. BB in a circular set the limit of balance in individual e-wallet account at Tk 4 lakh while limit of daily and monthly money input was set at Tk 1 lakh and 4 lakh respectively. Daily fund transfer limit through e-wallet was set at Tk 1 lakh and monthly at Tk 4 lakh in case of transfer of fund to Bank account or Person-to-Person. The BB circular, however, said that the upper limit would not be applicable in case of Person-to-Business, Business-to-Person, Business-to-Business and non-individual transactions.

Source: http://www.newagebd.net/article/79430/transaction-limit-thru-psps-e-wallet-hiked

BSEC to take action against two Brokerage firms

The stock market regulator has asked its department concerned to take stern action against two brokerage firms for mismatch between inflow and outflow of their clients’ funds deposited in the consolidated customers’ accounts. The Bangladesh Securities and Exchange Commission (BSEC) gave the instruction at a meeting. The securities regulator has instructed its enforcement department to take action against M Securities, a brokerage firm of the Dhaka Stock Exchange (DSE), as there is a deficit in the consolidated customers’ account. The securities regulator will also take action against the First Lease Securities, a brokerage firm of the Chittagong Stock Exchange (CSE), for such a mismatch of funds.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/bsec-to-take-action-against-two-brokerage-firms-1563901949

Satellite, Submarine Cable Business may open to Private Sector

The government is set to open up the satellite and undersea submarine cable Business to the private sector as it looks to expand the capacity in preparation for a Digital Bangladesh. At present, two separate state-run companies — Bangladesh Submarine Cable Company Limited (BSCCL) and Bangladesh Communication Satellite Company Limited — run the undersea cable and cosmos communication Business.

Source: https://www.thedailystar.net/business/news/satellite-submarine-cable-business-may-open-private-sector-1776205

Bangladesh invents green throw-away bags from Jute

As countries around the world try to cut down on throw-away plastic shopping bags, Bangladesh is hoping to cash in on an alternative: plastic-like bags made from jute, the plant fibre used to produce burlap bags. A Bangladeshi scientist has found a way to turn the fibre into low-cost biodegradable cellulose sheets that can be made into greener throw-away bags that look and feel much like plastic ones.

Source: http://today.thefinancialexpress.com.bd/trade-market/bangladesh-invents-green-throw-away-bags-from-jute-1563902557

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
FTSE100 7,556.86↑41.93↑0.56%
Nikkei 22521,728.84 ↑107.96 ↑0.50%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI) $ 57.09↑0.32↑0.56%
Crude Oil (Brent)$ 64.15↑0.32↑0.50%
Gold Spot $1,420.22↑2.39↑0.17%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 82.9566
GBP 1BDT 103.2590
EUR 1BDT 92.6802
INR 1BDT 1.2020





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