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 27, 2019

BB opens GTF for all sectors

Bangladesh Bank on Wednesday opened up its Green Transformation Fund (GTF) for all manufacturing and export oriented entities irrespective of sector. Earlier, the BB only allowed three sectors — textile, leather and jute — to access fund from the GTF to import capital machinery and accessories for implementing specified green or environment-friendly initiatives. However, other conditions to get refinance fund from GTF would remain unchanged, a BB circular issued on the day said. In January, 2016, BB introduced a refinance scheme namely GTF amounting to $ 200 million for the export oriented industries of the textile and leather sectors to set up environment friendly infrastructures.

Source: http://www.newagebd.net/article/76641/bb-opens-gtf-for-all-sectors

 VAT on foreign cable TV, digital services from July

Bangladesh is going to impose VAT on satellite channels and tech Companies offering digital services without an office in the country from next fiscal. National Board of Revenue (NBR) issued a directive recently saying that VAT and Supplementary Duty Act 2012 on digital services will be applicable from July 1. In the directive, it has asked satellite channels to appoint VAT agents in Bangladesh and pay 15 per cent VAT on advertisement revenue to the government. The NBR requested the Information Secretary of Ministry of Information, and Chairman of Bangladesh Telecommunication Regulatory Commission Chairman to ask all the non-resident firms to get VAT registration and hire VAT agents.

Source: https://www.thedailystar.net/business/news/vat-radar-foreign-cable-tv-digital-services-jul-1-1762690

 Tk 1.5b project to develop handloom Industry

The government has taken a project involving Tk 1.5 billion (Tk 158 crore) to provide running capital and modernise handlooms for improving the socioeconomic condition of the weavers. Textiles and Jute Minister Golam Dastagir Gazi on Wednesday make the disclosure at the Jatiya Sangsad (JS). A total of 119,673 handlooms out of 320,781 are now remain closed across the country, he said, adding that the government has given Tk 750 million (Tk 75.06 crore) loan to 44,240 weavers against 65,451 handlooms under a project titled ‘Microcredit Programme for Weavers’ to reopen the closed handlooms.

Source: https://thefinancialexpress.com.bd/trade/tk-15b-project-to-develop-handloom-industry-1561549734

Pathao downsizing on fund shortage

Pathao, a ride-hailing Company and one of the fastest growing tech startups in Asia, cut more than 50 percent of its workforce in the last two days as it struggles to raise funds amid waning popularity for its services. According to several sources, nearly 300 mid- to top level employees, including the head of Pathao Food and Ride Core Service, were terminated. Senior Executives from Chattogram and Sylhet were also forced to step down, said the employees who faced the fate. According to finance department of Pathao, the layoff was due to investors backing out from the upcoming investment round, leaving it with only a few months’ worth of funds to run the Company.

Source: https://www.thedailystar.net/business/ride-sharing-startups-pathao-downsizing-fund-shortage-1762894

 BGMEA suspends UD of 51 factories

Bangladesh Garment Manufacturers and Exporters Association has temporarily stopped issuing utility declaration to 51 of its member factories for non-compliance. After nine months of the government instruction to stop providing UD to 142 factories due to slow progress in safety remediation, the trade body on Tuesday decided to suspend issuance of UD to 51 factories. Department of Inspection for Factories and Establishments on September 20, 2018 issued a letter to BGMEA and Bangladesh Knitwear Manufacturers and Exporters Association asking them to stop providing UD to the factories as the remediation progress in the units was not satisfactory. In the letter, DIFE requested the trade bodies to stop issuing UD to the factories for the next three months to expedite remediation in the units inspected under a national initiative.

Source: http://www.newagebd.net/article/76638/bgmea-suspends-ud-of-51-factories

13 lakh bhori of gold legalised in 3-day fair: NBR                             

Jewellers and gold traders legalised around 13 lakh bhori (a bhori is equivalent to 11.664 grams) of gold and gold ornaments in the three-day gold fair that ended on Tuesday across the country, according to provisional estimates of the National Board of Revenue. Income tax officials of the revenue board said that jewellers and traders legalised the precious metal through making declaration and paying Tk 1,000 for a bhori to the tax authorities in the fair held in eight divisional cities across the country.

The NBR received more than Tk 130 crore in tax from the scheme.

Source: http://www.newagebd.net/article/76639/13-lakh-bhori-of-gold-legalised-in-3-day-fair-nbr

 NRB Bank re-elects Chairman

Mohammed Mahtabur Rahman has recently been re-elected Chairman of NRB Bank. He is currently the Chairman and Managing Director of Al Haramain Perfumes Group of Companies. He is the founder President of Bangladesh Business Council in Dubai and the NRB CIP Association in Bangladesh.

Source: https://www.thedailystar.net/business/banking/news/nrb-bank-re-elects-chairman-1762843

BASIC Bank gets new MD

State-owned BASIC Bank has finally got a Managing Director. The post had been vacant since November last year.  The Financial Institutions Division of the Ministry of Finance issued a letter on Tuesday nominating Md Rafiqul Alam as the Bank’s Managing Director.

Source: https://www.thedailystar.net/business/banking/news/basic-bank-gets-new-md-1762840

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
Nikkei 225 21,232.19↑145.60↑0.69%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 59.16↓0.22↓0.37%
Crude Oil (Brent)$ 66.24↓0.25↓0.38%
Gold Spot$1,406.37 ↓2.63↓0.19%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 82.9765
GBP 1BDT 105.250
EUR 1BDT 94.3055
INR 1BDT 1.1947





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