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 Jun 12, 2019

Apparel buying houses asked to get registered with DoT

The government has recently directed all the buying houses in the garment and textile sector in Bangladesh to get registered with the Department of Textiles to run business in the Country. In a gazette notification issued on May 28, the textiles and jute ministry said that as per the section 14 of Textile Act 2018, all the buying houses must have to be registered with the DoT within 60 days of the issuance of the notification. The ministry also said that if any buying house sought time extension with valid reasons, the registrar could allow 60 more days. If any buying house fails to obtain registration on time, the government will take legal action against the company as per law. According to the Textile Act 2018, the Department of Textiles is the sponsoring authority of all textile and clothing industries. The buying houses will have to get registered with the department for running their business in the country.

Source: http://www.newagebd.net/article/75027/apparel-buying-houses-asked-to-get-registered-with-dot

Agent Banking accounts increase to 2.9 million

The number agent banking accounts and deposit collection through the banking has increased at the end of January-March quarter compared to the previous quarter. According to the quarterly data of January-March, 2019 of Bangladesh Bank (BB), deposit collection through the agent banking was Taka 37.345 billion, which was 20 per cent higher from Taka 31.124 billion in the October to December 2018. Besides, the number of agent banking accounts across the country also increased by 18 per cent or around 450,000 compared to the previous quarter, reports BSS on Tuesday. The number of accounts with agents increased to 29,06,655 in the January-March period of 2019, which was 24,56,982 in previous quarter. The number of agents increased to 4,866 from 4,493 of the previous quarter and the number of bank agent outlets also increased to 7,838 from 6,933 in the same quarter.

Source: https://thefinancialexpress.com.bd/trade/agent-banking-accounts-increase-to-29-million-1560256688

BB asks SOBs to bring down defaulted loans

Bangladesh Bank on Tuesday asked the eight State-owned Banks to bring down defaulted loans. The Central Bank gave the instruction at a meeting held at the BB headquarters. BB governor Fazle Kabir presided over the meeting. Non-performing loans in six State-owned Banks — Sonali Bank, Janata Bank, Agrani Bank, Rupali Bank, Bangladesh Development Bank and BASIC Bank — constitute 48.6 per cent of the total defaulted loans in the country’s banking sector. The amount of defaulted loans in the State-owned Banks increased by Tk 5,183.58 crore to Tk 53,879.45 crore at the end of March, 2019 from Tk 48,695.87 crore three months ago. The amount of NPLs in two specialised State-owned Banks — Rajshahi Krishi Unnayan Bank and Bangladesh Krisi Bank — was Tk 4,787.64 crore at the end of March this year. The amount of overall defaulted loans in the country’s scam-hit banking system skyrocketed to Tk 1,10,873.54 crore at the end of March, 2019.

Source: http://www.newagebd.net/article/75026/bb-asks-sobs-to-bring-down-defaulted-loans

Tax on savings tools may go up

The government may increase the tax at source on interest income from investment in national savings instruments in the next fiscal year as it looks to curb people’s appetite for the tools. According to Finance Ministry officials, the rate of withholding tax on the interest earnings from the savings instruments may go up from 5 percent to 7.5 percent or 10 percent. The increased rate will be announced by Finance Minister AHM Mustafa Kamal tomorrow when he places his budget for 2019-20. He may also announce a set of incentives, including raising the tax-free dividend income for investors in the capital market to Tk 50,000 from existing Tk 25,000 with a view to reviving the market.

Source: https://www.thedailystar.net/business/news/tax-savings-tools-may-go-1755829

Stocks extend gaining streak to 8th day

Dhaka stocks soared for the eighth day on Tuesday with the turnover hitting a three-month high as investors continued buying shares amid hopes that the upcoming national budget would be capital market friendly. DSEX, the key index of Dhaka Stock Exchange, gained 0.81 per cent, or 44.38 points, to close at 5,475.98 points on Tuesday. The index gained 223 points in last eight sessions ahead of the national budget to be placed by finance minister AHM Mustafa Kamal before parliament tomorrow. According to the market operators, the market started rising from the very beginning on Tuesday and climbed more strongly as the session progressed as investors increased share buying amid budget-centric expectations.

Source: http://www.newagebd.net/article/75028/stocks-extend-gaining-streak-to-8th-day

Robi to raise Tk 400cr through local bonds

Robi is planning to raise Tk 400 crore from the local market by issuing a Shariah-based security bond with the face value of each certificate being Tk 1 lakh. The second largest mobile operator of the market said they were planning to use this money to expand and strengthen their countrywide network coverage. The certificate’s maturity period will be five years starting on the issue date, reads a letter Robi recently sent to Bangladesh Telecommunication Regulatory Commission (BTRC) seeking permission for it. The interest rate is expected to be more than 8 percent based on present market conditions, it read.

Source: https://www.thedailystar.net/business/telecom/news/robi-raise-tk-400cr-thru-local-bonds-1755823

Energypac signs deal for Mirsarai Steel Plant

Energypac Power Generation yesterday signed an agreement with Bangladesh Economic Zones Authority (BEZA) to avail land at Bangabandhu Sheikh Mujib Industrial City in Chattogram’s Mirsarai for setting up a Tk 398.9 crore steel processing facility. Once completed, Energypac Steel will specialise in steel processing and manufacturing shipping containers.

Source: https://www.thedailystar.net/business/news/energypac-signs-deal-mirsarai-steel-plant-1755805

Man killed in ‘shootout’ with police

An alleged drug dealer was killed in a “gunfight” with police in Cumilla Sadar South upazila early yesterday. The dead was Bappy alias Razib, 26, of Uttar Rampur village in the upazila.

Source: https://www.thedailystar.net/backpage/news/man-killed-shootout-police-1755622

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DSEX5,475.98241 ↑44.38679 ↑0.82%
DJIA26,048.51 ↓14.17↓0.05%
Nikkei 225 21,207.61 ↑3.33↑0.02%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 52.52↓0.75↓1.41%
Crude Oil (Brent) $ 61.46↓0.83↓1.33%
Gold Spot $1,329.43↑2.59↑0.20%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 82.8539
GBP 1BDT 105.2690
EUR 1BDT 93.7937
INR 1BDT 1.1927





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