BB allows banks to issue int’l debit cards

The central bank has issued a guideline, allowing banks to issue international debit cards (IDCs) in favour of eligible persons against their annual travel entitlements. According to the guideline provisions, IDCs will be issued within annual travel entitlements with endorsement on passports, according to a notification, issued by the Bangladesh Bank (BB) on Tuesday.The authorised dealer (AD) banks will have suitable arrangement in the local currency accounts, to which IDCs are linked, to ensure that amount in foreign exchange cannot be expensed in excess of endorsement within the annual travel entitlement, according to the guideline. The local currency accounts, to which IDCs are linked, will have sufficient fund to support the expenses to be met from the cards. Similarly, the ADs should retain endorsed amount equivalent in Taka from local currency accounts in the margin accounts, to be maintained in the names of customers for smooth adjustment of the expenses incurred through IDCs. Currently, the banks are allowed only to issue ICC/IPC against the annual personal travel quota entitlements of the prospective cardholders in line with the existing Guidelines for Foreign Exchange Transactions.

Source: https://today.thefinancialexpress.com.bd/trade-market/bb-allows-banks-to-issue-intl-debit-cards-1592321711

Stocks end flat amid thin participation

Stocks ended nearly flat on Tuesday amid thin participation of investors as most of the investors remained cautious amid worsening situation of the deadly virus Covid-19 in the country. DSEX, the key index of the Dhaka Stock Exchange, went up by 2.28 points or 0.05 per cent to close at 3,960, after losing nine points in the past two sessions. The core index is hovering between 3,950 and 3,970 points in the past 11 sessions as most of the investors were reluctant to make any fresh investment amid growing tension over the Covid-19 pandemic. Market analysts said the budget failed to meet investors’ expectations while growing tension over the Covid-19 pandemic and floor price mechanism kept the investors at bay to put fresh funds in stocks.Two other indices also saw fractional gain. The DS30 index, comprising blue chips, advanced 0.86 point to finish at 1,325 and the DSE Shariah Index gained 0.67 points to close at 918. A total number of 10,527 trades were executed in the day’s trading session with a trading volume of 24.60 million shares and mutual fund units. The market-cap of the DSE also inched up to Tk 3,103 billion, from Tk 3,102 billion in the previous session. BeximcoPharma topped the turnover chart with shares worth Tk61 million changing hands, followed by Beximco, National Bank, Linde Bangladesh and Reckitt Benckisher. Desh Garment was the day’s best performer, posting a gain of 4.54 per cent while ICB Employees Provident Mutual Fund One was the worst loser, losing 5.88 per cent.The Chittagong Stock Exchange edged higher with its All Shares Price Index (CASPI)-gaining 4.45 points to close at 11,243 and the Selective Categories Index – CSCX -advancing 2.77 points to finish at 6,811. Of the issues traded, 16 gained, 12 declined and 60 remained unchanged on the CSE. The port city bourse traded 831,524 shares and mutual fund units worth only Tk 17 million in turnover.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/stocks-end-flat-amid-thin-participation-1592321572

Green Delta Capital closes financing deal with ADB

Green Delta Capital Limited, a leading merchant bank in Bangladesh has successfully closed a landmark transaction for 35 MW Spectra Solar Park Limited (SSPL) by arranging USD 34 million. Asian Development Bank (ADB), as lead financier financed for USD 17.72 million. The financing comprises a loan from ADB and a loan from the ADS-Administered Canadian Climate Fund for the Private Sector in Asia II (CFPS II). The German development finance institution DEG participates, as co-financer financed for USD 16.4 million where Green Delta Capital played an instrumental role being a lead advisor to the transaction for this milestone debt transaction.Green Delta Capital Limited, a leading merchant bank in Bangladesh has successfully closed a landmark transaction for 35 MW Spectra Solar Park Limited (SSPL) by arranging USD 34 million. Asian Development Bank (ADB), as lead financier financed for USD 17.72 million. The financing comprises a loan from ADB and a loan from the ADS-Administered Canadian Climate Fund for the Private Sector in Asia II (CFPS II). The German development finance institution DEG participates, as co-financer financed for USD 16.4 million where Green Delta Capital played an instrumental role being a lead advisor to the transaction for this milestone debt transaction.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/green-delta-capital-closes-financing-deal-with-adb-1592321537