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 28, 2019

Liquidity shortage pushes up Private Banks’ Deposit Rates

The ongoing liquidity crunch has forced many Private Commercial Banks to raise their deposit rates, particularly that of term deposits. The hike has made the government move to lower the lending rates to single digit almost untenable. The deposit rates started creeping up from September last year and the same have gathered pace in recent months. Some Private Commercial Banks (PCBs) are now offering a maximum interest 11.50 per cent, which is higher than the yield rate of the national savings tools. Most PCBs are now charging interest on lending for medium- and large-scale industries at rates ranging between 11.50 per cent and 15.50 per cent instead of 9.0 per cent, the rate their sponsors had promised earlier.

Source: http://today.thefinancialexpress.com.bd/first-page/liquidity-shortage-pushes-up-private-banks-deposit-rates-1564245454

PC okays new Metro-Rail Projects

The Project Evaluation Committee (PEC) of the Planning Commission (PC) has approved two new metro-rail projects at a combined cost of Tk 931.62 billion, officials said. Presided over by the PC Member Shamima Nargis, the PEC has given green signal to the MRT line-1 and MRT line-2 projects recommending some changes. The Dhaka Mass Transit Company Limited (DMTCL) will build the proposed MRT line-1 from Airport to Kamlapur and the MRT line-5 from Hemayetpur to Vatara. “We’ve endorsed the two projects at a meeting last week suggesting changes in some components of the Development Project Proposals (DPPs),” a committee member said. “When the implementing agency will recast the DPP and send it to the PC, we will place it before the ECNEC (Executive Committee of the National Economic Council) for the final approval,” he added.

Source: https://thefinancialexpress.com.bd/trade/pc-okays-new-metro-rail-projects-1564199275

BB to help Insurance Companies implement regulatory decisions

The Central Bank assured on Thursday non-life insurance Companies of providing all sorts of assistance in regard to a recent circular issued by Insurance Development and Regulatory Authority (IDRA). The assurance came at a tripartite meeting held at Bangladesh Bank where representatives from IDRA and Bangladesh Insurance Association (BIA) were present. BIA Chairman Sheikh Kabir Hossain told that the governor of Bangladesh Bank assured non-life insurance Companies that the Central Bank will help the industry implement recent regulatory decisions. IDRA issued a notification to non-life insurance companies last week, asking them to make all kinds of payment or expenditure through the Banking channel. The insurance regulator also asked the non-life insurance firms to stipulate three Bank accounts they maintain to procure business and disburse commission as part of monitoring the implementation of the order.

Source: https://thefinancialexpress.com.bd/trade/bb-to-help-insurance-companies-implement-regulatory-decisions-1564117264

Special Company to be formed for safety monitoring

Bangladesh Garment Manufacturers and Exporters Association has started its work to form a Company named RMG Sustainability Council to carryout safety inspection and remediation in the readymade garment sector following the departure of European Union buyers and brands led initiative Accord on Fire and Building Safety in Bangladesh. The trade body has prepared a concept note on the initiative saying that to ensure self-monitoring in the area of workplace safety and to deal with the industrial relations, workers efficiency and welfare, as well as the environmental sustainability issues proactively, the BGMEA has taken the initiative to establish a private sector led multi-stakeholder sustainability platform named RSC.

Source: http://www.newagebd.net/article/79879/special-company-to-be-formed-for-safety-monitoring

BB raises maximum limit of US dollar for travellers

The Central Bank has increased the maximum limit of cash US dollar for travellers’ to $12,000 from the existing level of $5,000 and $7,000 for a calendar year. The revised limit of foreign exchange for private travel abroad will come into effect from January 2020, according to a notification, issued by the Bangladesh Bank (BB) on Thursday. Currently, the Banks are allowed to release foreign exchange to an adult Bangladeshi national residing in Bangladesh during a calendar year upto $5,000 or equivalent for travel to South Asian Association for Regional Cooperation (SAARC) member countries and Myanmar, and $7,000 or equivalent for travel to other counties.

Source: https://thefinancialexpress.com.bd/economy/bangladesh-bank-raises-maximum-limit-of-us-dollar-for-travellers-1564118498

Wheat Import falls for first time in seven years

Bangladesh’s wheat imports in fiscal 2018-19 declined for the first time in seven years for the higher carry-over stock in the hands of private traders and low prices of the grain’s substitute, rice. Private importers typically account for 91 percent of the total wheat imports and last fiscal year their imports fell 4 percent year-on-year to 51.55 lakh tonnes. Imports by government’s food office also fell during the period, according to data from the food Ministry. The decline seems to be an effect of the lower prices of rice brought about by higher domestic production, said Abdus Shukur, head of supply chain of Bashundhara Food and Beverage Industries Limited (BFBIL), which roughly imports 10 lakh tonnes annually.

Source: https://www.thedailystar.net/business/news/wheat-import-falls-first-time-seven-years-1777216

BEZA allocates land for 53 Industrial Units at BSMSN

The Bangladesh Economic Zones Authority (BEZA) has allocated a total of 6,077 acres of land among the 53 Business houses in the Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN) in Chattogram for setting up their factories. “At BSMSN, we have already allocated a total of 6,077 acres of land among the 53 industrial units, including Bangladesh Export Processing Zone Authority (BEPZA) Economic Zone, Bangladesh Garment Manufacturers & Exporters Association (BGMEA) Garments Village and Public-Private Partnership (PPP) Zone,” BEZA Executive Chairman Paban Chowhdury said. He informed that BEZA has already got a total of US$12.373 billion investment proposals from 53 industrial units.

Source: https://thefinancialexpress.com.bd/economy/beza-allocates-6077-acres-land-for-53-industrial-units-at-bsmsn-1564156077

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
FTSE100 7,549.06↑60.01↑0.80%
Nikkei 22521,658.15 ↓98.40 ↓0.45%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI) $ 56.20↑0.18↑0.32%
Crude Oil (Brent) $ 63.46↑0.07↑0.11%
Gold Spot $1,418.90↑4.32↑0.31%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 82.8359
GBP 1BDT 102.5240
EUR 1BDT 92.1384
INR 1BDT 1.2019





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