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 19, 2019

No MFS cost hike for customers: BTRC

The Bangladesh Telecommunication Regulatory Commission on Tuesday assured that its directive on mobile financial services would not increase any MFS cost for customers. The telecom regulator made the clarification as there were no specifics in its directive on MFS whether the customers or the MFS operators would bear the charge of Unstructured Supplementary Service Data (USSD), a mobile phone operator-driven service. Under the BTRC directive issued on June 13 this year, the mobile operators were allowed to charge revenue generating MFS Tk 0.85 and non-revenue generating mobile financial transaction Tk 0.4 for each session of USSD of 90 seconds. The BTRC directive mentioned that the mobile operators would get charge from the MFS operators based on the usage of USSD sessions by the MFS subscribers.

Source: http://www.newagebd.net/article/75803/no-mfs-cost-hike-for-customers-btrc

Country’s first iron ore mine discovered

For the first time in Bangladesh, a magnetite (iron ore) mine has been discovered at Isabpur village in Hakimpur upazila of the district, bringing new hopes for the country’s economy. The Geological Survey of Bangladesh (GSB) made the groundbreaking announcement on Tuesday morning following extensive examinations after drilling a well for two months. According to GSB Deputy Director, Mohammad Masum, a 400-foot thick iron layer was found 1,750 feet beneath the surface and it stretches over an area of 6-10 square kilometres. He said the percentage of iron in the mine is 65 while that in Canada, China, Brazil Sweden and Australia is below 50. The GSB official said apart from the presence of gold, there are copper, nickel and chromium in the layer. “Limestone was also found at a depth of 1150 feet.

Source: http://today.thefinancialexpress.com.bd/first-page/countrys-first-iron-ore-mine-discovered-in-dinajpur-1560878818

BB moves to popularise Islamic bonds

The Central Bank has taken a move to make Islamic bonds popular by enhancing the volume of Islamic Bond Fund and creating scopes of the bonds’ multiple uses. As part of the move, a 10-member working committee has already been formed to submit recommendations in this connection, according to officials. Senior officials of five Islamic Banks have been included as members of the committee. It has also been told to examine the possibility of introducing repo facility from the Central Bank against the Islamic bonds to meet short-term liquidity requirement of the Shariah-based Islamic Banks and Non-Banking Financial Institutions (NBFIs). The committee will also analyse the possibility of launching inter-bank repo facility by using the Islamic bonds.

Source: http://today.thefinancialexpress.com.bd/last-page/bb-moves-to-popularise-islamic-bonds-1560879208

Tax on retained earnings to imperil FDI: FICCI

According to FICCI officials, multinational Companies will feel discouraged to reinvest from their incomes if the proposed 15 percent tax on their retained earnings and stock dividends gets go-ahead, leaving a negative impact on the inflow of Foreign Direct Investment (FDI). Shehzad Munim, President of FICCI, said, “I think many chambers raised this issue, to be relooked. We do not have this money because retained earning does not mean that we actually have this money in the banks. We need to review this.” He was addressing a section of FICCI members with Mosharraf Hossain Bhuiyan, Chairman of the National Board of Revenue (NBR), as the guest of honour.

Source: https://www.thedailystar.net/business/news/tax-retained-earnings-imperil-fdi-ficci-1759249

Inflation hits 13-month high

Inflation hit a 13-month high in May thanks to a sharp increase in prices of non-food items on the occasion of Ramadan, which typically sees a spike in consumption. Last month, inflation stood at 5.63 percent after advancing five basis points from April, according to data from the Bangladesh Bureau of Statistics (BBS), which was unveiled yesterday by Planning Minister MA Mannan. It was six basis points higher than a year earlier. Non-food inflation stood at 5.84 percent, up 20 basis points from the previous month, while food inflation declined five basis points to 5.49 percent. Prices of clothes and furniture as well as the cost of health services and transport went up in May, said the BBS in a statement. This may be because the price of rice, the biggest item in the food consumption basket, has been declining of late.

Source: https://www.thedailystar.net/business/news/inflation-hits-13-month-high-1759252

Stocks rebound after two-day slump

Stocks rebounded on Tuesday, snapping a two-day sharp decline, as investor showed their buying appetite amid expectations. DSEX, the prime index of the Dhaka Stock Exchange (DSE), settle at 5,400, gaining 24.94 points, after losing nearly 100 points in the past two days. Market analysts said the market backed to green as National Board of Revenue (NBR) Chairman hinted at the possibility of reviewing some proposals of the budget for fiscal year (FY) 2019-20. The Finance Minister AHM Mustafa Kamal proposed, among other, imposition of 15 per cent additional tax on retained earnings and reserves, if the amount exceeds 50 per cent of the paid-up capital of the company which reacted negatively in the capital market.

Source: https://thefinancialexpress.com.bd/stock/stocks-rebound-after-two-day-slump-1560854299

CWT emerging mutual fund gets nod

The Bangladesh Securities and Exchange Commission (BSEC) has approved an open-ended mutual fund named CWT Emerging Bangladesh First Growth Fund. The primary target of the fund is Tk 10 crore of which asset manager CWT Asset Management Company will provide Tk 1 crore and the rest would be open for general investors. Trustee and custodian of the fund is Sandhani Life Insurance and BRAC Bank respectively.

Source: https://www.thedailystar.net/business/news/cwt-emerging-mutual-fund-gets-nod-1759234

Shafi Choudhury becomes Pubali Bank Adviser

Ahmed Shafi Choudhury has been appointed Adviser to Pubali Bank with the approval of Bangladesh Bank. He was a Director of Pubali Bank till May 10, 2018. Mr. Choudhury has an experience for 50 years in tea plantation, production business and commercial banking.

Source: http://www.newagebd.net/article/75814/shafi-choudhury-becomes-pubali-bank-adviser

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DSEX5,400.23571↑24.94436 ↑0.46%
DJIA26,465.54 ↑353.01↑1.35%
Nikkei 225 21,323.45↑350.74↑1.67%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI) $ 54.04↑0.14↑0.26%
Crude Oil (Brent)$ 62.13↓0.01↓0.02%
Gold Spot$1,343.71 ↓2.90↓0.22%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 82.9042
GBP 1BDT 103.9420
EUR 1BDT 92.9052
INR 1BDT 1.1888





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