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 25, 2019

Unique Meghnaghat to build 584MW plant

Bangladesh’s largest ever combined cycle power plant of 584 megawatts (MW) fuelled by natural gas is set to be established by Unique Meghnaghat Power at Meghnaghat, Sonargaon in Narayanganj district. Unique, a subsidiary of the Unique Hotel and Resorts, yesterday signed an array of agreements with Bangladesh Power Development Board (BPDB), the Power Grid Company of Bangladesh, and Titas Gas Transmission and Distribution Company Limited to set up the largest Independent Power Producer (IPP) project. With the BPDB, a 22-year power purchase agreement (PPA) was signed while implementation and gas supply agreements were inked with the government and Titas respectively. Saiful Islam Azad, secretary of the BPDB, Chowdhury Nafeez Sarafat, managing director of Unique, Sheikh Faezul Amin, joint secretary to the power division, and Mahmudur Rahman Rab, secretary of Titas, signed the agreements.

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

Private Sector credit growth hits 6-yr low

Private sector credit growth hit 6-year low in June this year amid rising liquidity crisis in the country’s Banking sector due to soaring non-performing loans and poor deposit growth. As per the latest Bangladesh Bank data, the private sector credit growth slumped to 11.29 per cent in June, well below the BB target to reach 16.5 per cent credit growth by the month. The growth rate in June was the lowest since June, 2013 when it was 11.04 per cent. Private sector credit growth was 12.42 per cent, 12.54 per cent and 12.16 per cent in March, April and May this year respectively. The public sector credit growth, however, soared to 19.15 per cent in June, against the BB monetary policy target of 10.9.

Source: http://www.newagebd.net/article/79542/private-sector-credit-growth-hits-6-yr-low

Crop Insurance under PPP likely from this fiscal year

Crop insurance in haor (wetland) area might begin this fiscal year (FY), 2019-20, under a public-private partnership (PPP) mechanism, said people familiar with this development. In June, the national budget speech in parliament touched on the matter considering crop losses by farmers due to floods and other natural disasters. “We’ve decided in principle to introduce it under PPP,” said Gokul Chand Das, a member at the Insurance Development and Regulatory Authority (IDRA). The State-owned Sadharan Bima Corporation (SBC) earlier conducted a pilot project, funded by the Manila-based Asian Development Bank (ADB), in three districts. Mr. Das said at least two non-life insurers-one from public and another from the private sector-might engage in the first phase of implementing crop insurance. “We’ve some problem relating to weather-based insurance that needs data on weather from the authentic organisation as compensations depend on it,” he cited.

Source: https://thefinancialexpress.com.bd/economy/crop-insurance-under-ppp-likely-from-this-fiscal-year-1563945895

Businesses to get EFD at purchase price

The government will provide electronic sales registers to Businesses at its purchase price of Tk 32,000, which it will recoup in instalments, said Finance Minister AHM Mustafa Kamal. “They would pay back the cost of the machines in instalments,” he told after the meeting of the cabinet committee on purchase, where the decision to place the order for 10,000 machines was taken. The order to acquire the machines, termed as Electronic Fiscal Device (EFD), would be placed without delay, he said. A joint venture between China-based SZZT and Synesis IT has become the lowest bidder to supply the EFDs. One lakh EFDs would be purchased in total. The Businesses would be responsible for the maintenance of the devices.

Source: https://www.thedailystar.net/business/news/businesses-get-those-purchase-price-tk-32000-1776574

BB asks Banks to suspend loan recovery from flood affected farmers

The Bangladesh Bank on Wednesday asked all the scheduled Banks to suspend collection of farm loan installments from farmers in the flood affected northern and haor areas. A BB circular issued on the day outlined five-point instructions for the Banks asking them to regularise farm loans with flexible installment and rescheduling facilities with relaxed condition for down payment. Farmers have become extremely affected by the recent flashflood in several districts in the country’s northern and haor areas, the BB circular said. The Banks were also asked to issue new credit facility, taking the demand and reality into consideration, to the affected farmers so that they could resume production of crops, fisheries and livestock.

Source: http://www.newagebd.net/article/79547/bb-asks-banks-to-suspend-loan-recovery-from-flood-affected-farmers

IDLC Asset Management Shariah Fund approved

The Bangladesh Securities and Exchange Commission approved a draft prospectus of IDLC Asset Management Shariah Fund, an open-end mutual fund. The initial size of the fund will be Tk 50 crore. The sponsor will contribute Tk 5 crore and the remaining Tk 45 crore will be collected by selling the mutual fund units. The offer price of the units will be Tk 10 each.

Source: https://www.thedailystar.net/business/news/idlc-asset-management-shariah-fund-approved-1776547

BSEC asks DSE to take steps for Coppertech listing

The securities regulator has asked the premier bourse to take steps for the listing of Coppertech Industries as per the section 5(4) of the listing regulations. The Bangladesh Securities and Exchange Commission (BSEC) also asked the Dhaka Stock Exchange (DSE) to inform them (regulator) within 10 working days about what steps have been taken for the listing of the Company. The BSEC gave the instruction in a letter sent to the DSE on Wednesday.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/bsec-asks-dse-to-take-steps-for-coppertech-listing-1563989339

Exim Bank MD reappointed

The Export Import Bank of Bangladesh has reappointed Mohammed Haider Ali Miah as Managing Director, effective from today. Mr. Miah started his banking career in 1984 as a probationary officer. He joined EXIM Bank in 2000 as Vice President.

Source: https://www.thedailystar.net/business/news/exim-bank-md-reappointed-1776496

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
FTSE100 7,501.46↓55.40↓0.73%
Nikkei 22521,784.69 ↑75.12 ↑0.35%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI) $ 56.04↑0.16↑0.29%
Crude Oil (Brent) $ 63.25↑0.07↑0.11%
Gold Spot $1,423.80↑0.20↑0.01%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 83.0056
GBP 1BDT 103.4960
EUR 1BDT 92.4895
INR 1BDT 1.2030





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