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 30, 2019

Parliament Okays finance bill

Parliament on Saturday approved the finance bill-2019 with amendments made by lawmakers and suggestions from businesses. Some 10 lawmakers proposed a public opinion poll on the bill, but that was rejected by voice vote. Prime Minister Sheikh Hasina moved the finance bill according to the wish of the finance minister. Finance minister AHM Mustafa Kamal spoke briefly on the bill. On cash dividend, Sheikh Hasina said the government wanted to encourage cash dividend to boost the capital market but financial institutions objected it on many grounds. She said from now on, the ratio of stock dividend and cash dividend will be same and if the stock dividend becomes higher than the cash dividend then 10 per cent tax shall be payable on the full amount. On the retained earnings, the premier said listed companies can transfer up to 70 per cent of their net profits as reserve or surplus. They will have to pay a 10 per cent dividend on the remaining 30 per cent. She said if any company fails to do so then 10 per cent tax shall be payable each year.

Source: https://thefinancialexpress.com.bd/economy/parliament-okays-finance-bill-1561826522

WB gives $100m to boost public service delivery

The World Bank will provide Bangladesh with a $100 million fund to help improve public service delivery through an effective, efficient and transparent public financial management system. The Strengthening Public Financial Management (PFM) programme will improve fiscal forecasting and public budget preparation and execution and enhance financial reporting and transparency in education and health ministries and finance and local government divisions. Having improved its PFM systems with prudent fiscal management in the past two decades, Bangladesh still has a few bottlenecks in public resource allocation, availability and use for social service delivery, the WB said. The programme will help Bangladesh use its own systems to address these bottlenecks.

Source: https://www.thedailystar.net/business/news/wb-gives-100m-boost-public-service-delivery-1764466

Proposed tax on savings certificates may go

The government might retract its decision to double tax on savings certificates as the move is likely to draw massive criticism from the people. Four types of savings certificates are currently sold and the rates of yield are up to 11.76 per cent. Currently, around 20 million investors are involved in this sector. Currently, the tax is five per cent. Finance Minister AHM Mustafa Kamal recommended increasing the tax to 10 per cent in his proposed budget for 2019-20 fiscal. According to finance ministry and the National Board of Revenue (NBR) sources, the government is currently considering two options. One is to cut the proposed tax on all types of savings certificates. The other is to cut proposed tax on family savings certificates and pensioner savings certificates.

Source: https://thefinancialexpress.com.bd/economy/proposed-tax-on-savings-certificates-may-go-1561806383

Yarn exports hold potential

Yarn and fabrics export rose 20.46 percent year-on-year to $141.12 million between July and May, an indication that Bangladesh can become a major source for the raw materials if higher production is facilitated. Currently, local spinners are able to meet 85 percent of the demand for the raw materials for the knitwear sector and 40 percent for the woven sector. Bangladesh imports yarn from China and India to meet the local demand. However, the export of yarn, especially cotton yarn, has grown recently. At least six large spinning mills have started exporting specialised cotton yarn, which is very fine, to Indonesia, Sri Lanka and Turkey, said Monsoor Ahmed, Secretary to Bangladesh Textile Mills Association, a platform for spinners, weavers and cotton millers.

Source: https://www.thedailystar.net/business/news/yarn-exports-hold-potential-1764490

Farmers produce litchi worth Tk 1.52b this season in Rangpur

The farmers in Rangpur region have produced 15,225 tonnes of litchi worth Taka 1.52 billion this season, according to the Department of Agriculture Extension (DAE) officials. Both litchi growers and traders expressed their happiness over bumper production, better price and excellent business of the seasonal fruit. Horticulture Specialist of DAE at its regional office in Rangpur Agriculturist Khondker Md Mesbahul Islam said litchi farming is expanding every year bringing fortune to many farmers. The farmers had cultivated litchi on 1,750 hectares of land and produced 15,225 tonnes of litchi worth Taka 1.52 billion with an average yield rate of 8.70 tonnes per hectare in the region this season. “The farmers cultivated litchi on 1,551 hectares of land and produced 13,285 tonnes of the fruit worth Taka 1.33 billion in 2017 and on 1,566 hectares and produced 14,848 tonnes of litchi worth Taka 1.48 billion in 2018 in the region,” Mr. Islam added.

Source: https://thefinancialexpress.com.bd/trade/farmers-produce-litchi-worth-tk-152b-this-season-in-rangpur-1561807365

MoneyGram launches deposit service for NRBs

MoneyGram (NASDAQ: MGI), a global leader in Omnichannel money transfer and payment services, announced a partnership with Jamuna Bank, creating a convenient and new money deposit option for Non-Resident Bangladeshis (NRB) around the world. The new service enables any Bank account holders in Bangladesh to receive MoneyGram funds directly into their Bank accounts. Jamuna Bank will be responsible for processing of the remittance. To this end, an agreement was signed in the city recently where Mirza Elias Uddin Ahmed, Additional Managing Director, Jamuna Bank Ltd, Yogesh Sangle, Head of Asia Pacific and South Asia and Sheshagiri (Sukesh) Malliah, Regional Head Indian Subcontinent, Indo China and Malaysia, MoneyGram.

Source: https://thefinancialexpress.com.bd/trade/moneygram-launches-deposit-service-for-nrbs-1561821781

Shahjalal Islami Bank launches Shariah-based Credit Card

Shahjalal Islami Bank yesterday launched a Shariah-based credit card. The card is under the concept of Wakalah, which denotes an agency contract where one party appoints another to conduct a defined legal action on one’s behalf for a specified fee. Carrying no issuance charge, the EMV chip-based card will be available in Classic, Gold and Platinum categories.

Source: https://www.thedailystar.net/business/news/shahjalal-islami-bank-launches-shariah-based-credit-card-1764469

Prime Bank signs Agreement with SEL

The Prime Bank has recently signed an agreement with Structural Engineers Ltd (SEL) at SEL Centre, Dhaka. Under the deal, both SEL and Prime Bank have jointly initiated home loan offer with preferential pricing.

Source: https://thefinancialexpress.com.bd/trade/prime-bank-signs-agreement-with-sel-1561798098

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
Nikkei 225 21,275.92↓62.25↓0.29%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 58.47↓0.96↓1.62%
Crude Oil (Brent)$ $ 64.74↓0.93↓1.42%
Gold Spot$1,409.55 ↓0.23↓0.02%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 82.9869
GBP 1BDT 105.3090
EUR 1BDT 94.3288
INR 1BDT 1.2013





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