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 May 13, 2020

BB guideline on lending eases

Banks are allowed to provide loans without maintaining internal credit risk rating system (ICRRS) to the cottage, micro, small and medium enterprise (CMSME) sector under the Tk 200-billion stimulus package. The government has recently announced the bailout package for the sector with an intent to help the stakeholders overcome the Covid-19 fallout. The Bangladesh Bank (BB) has relaxed the guideline, allowing banks to disburse package loans on the basis of bank-customer relationship, according to a notification issued on Tuesday. All the scheduled banks are eligible to provide loans without following ICRRS only for the stimulus package to help such businesses resume quickly. Similar relaxation was given to the banks on May 10 for providing loans to large industries and services companies under the Tk 300-billion government package. Meanwhile, the central bank has formed a Tk 100-billion new refinance scheme to help banks implement the Tk 200-billion working capital package for CMSME. On April 05, Prime Minister Sheikh Hasina unveiled a Tk 200-billion stimulus package for CMSME to cope with the impacts of the novel coronavirus pandemic.

Source: https://today.thefinancialexpress.com.bd/first-page/bb-guideline-on-lending-eases-1589304450

Q4 incentives released for exporters

The government has released the fourth installment of cash incentives amounted to Tk 4.0 billion for disbursement among the exporters for the outgoing fiscal year. The money will be distributed among the exporters for April-June 2020, according to a notice issued by the ministry of finance on Monday. Of the amount, the jute and jute products subsector will get Tk 1.01 billion while other sectors will receive the remaining Tk 2.99 billion. The Tk 2.99 billion support included the special 1.0 per cent incentives for the readymade garment sector, said the notice. At present, cash incentives are provided against shipments of products under 37 categories, including one per cent additional special incentive for apparel products. Other categories include export-focused apparel manufacturing, frozen food and fish, leather goods, and agro-processing products.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/q4-incentives-released-for-exporters-1589296984

BB lets foreign firms bring in emergency funds from abroad

The central bank has relaxed regulations for foreign firms operating in Bangladesh such that they can bring in short-term working capital from abroad to tide them over during the pandemic, which has choked off their cash flows. The move comes after Naoki Ito, the Japanese ambassador to Bangladesh, last month requested the central bank. The Japanese companies like the local ones have to keep paying salaries of their employees and bear other overhead costs according to local rules and regulations, Ito wrote in a letter to Bangladesh Bank Governor Fazle Kabir on April 29. In response, the BB on May 3 issued a notice facilitating the foreign companies to bring in funding from aboard. The loans should be used to meet the actual needs for payment of three months’ wages and salaries to the staff regardless of their length of engagement in the manufacturing or services output activities. The BB decision to allow foreign firms to borrow from abroad under relaxed conditions will smooth out the flow of foreign direct investment into Bangladesh, said Ahsan H Mansur, executive director of the Policy Research Institute. But the parent companies of the borrowers should act as the guarantor of the loans.

Source: https://www.thedailystar.net/business/news/bb-lets-foreign-firms-bring-emergency-funds-abroad-1902142

LafargeHolcim contributes one day’s salary

The employees of LafargeHolcim Bangladesh Limited have contributed their one-day salary from the month of April to help the Covid-19 victims. The company has also decided to match the amount which is generated from the employees contribution. The whole idea is to collectively stand beside the communities across its operation and also to collaborate with the relevant stakeholders.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/lafargeholcim-contributes-one-days-salary-1589297124

UCB, JBFH organise free telemedicine services

United Commercial Bank Limited (UCB) and Japan Bangladesh Friendship Hospital (JBFH) jointly organised free telemedicine services, said a statement. People in need of medical assistance can now easily get experienced consultant’s free suggestion and treatment through teleconference. There would be thirty consultants to provide support through teleconference. The service is available from 2pm – 4pm each day except Friday. To avail the service, interested persons have to contact 09610444555

Source: https://today.thefinancialexpress.com.bd/stock-corporate/ipdc-finance-declares-10pc-cash-50pc-stock-dividend-1589211545

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
↓ 457.21↓ 1.89 %
FTSE1005994.77↑ 55.04↑ 0.93 %
Nikkei 22520318.82↓ 47.66↓ 0.23 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 25.59↓ 0.19↓ 0.74 %
Crude Oil (Brent)$ 29.48↓ 0.50↓ 1.67 %
Gold Spot$ 1705.51↑ 2.81↑ 0.17 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 83.4237
GBP 1BDT 102.702
EUR 1BDT 90.3763
INR 1BDT 1.11327





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