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 14, 2020

BB steps in to shore up banks’ financial muscle

The central bank yesterday rolled out long-term special repo, following the lead of the Reserve Bank of India, to help banks, many of which are cash-strapped, prop up their liquidity base such that they can adequately prime the pump during these extraordinary times. Under the special repurchase agreement (repo), banks will enjoy funds from the central bank for one year, up from 28 days at present, by keeping their Treasury bills and bonds as collateral. Banks will have to place their T-bills and bonds after securing their statutory liquidity ratio (SLR) as collateral, an exercise that would give protection to depositors and the BB control over the money flow to the market as well. Their SLR would be 13 per cent of their total time and demand deposit. Excluding their SLR banks now hold T-bills and bonds worth about Tk 72,000 crore. And they can get up to 85 per cent of the face value of their T-bills and 5 per cent of their T-bonds. The base interest rate on the special repo is 5.25 per cent or equivalent to the policy rate set by the central bank, said a BB official. But the actual rate will be fixed at the auction from where the lenders will get the fund. Under the process, they are directly purchasing T-bills and bonds from banks such that they can be able to finance their private sector. But in Bangladesh quantitative easing is different as the majority of the lenders do not have enough excess T-bills and bonds after keeping their SLR. So, this is a time-befitting and more effective policy measure given the financial strength of the country’s financial sector.

Source: https://www.thedailystar.net/business/news/bb-steps-shore-banks-financial-muscle-1902469

Singer approves 77pc cash dividend

The 40th annual general meeting (AGM) of Singer Bangladesh Ltd was held online on Wednesday. Dr. Fatih Kemal Ebiçlioglu, Chairman, Singer Bangladesh Limited, presided over the meeting, said a statement. The members participated in the meeting and approved 77 per cent cash dividend for the year 2019 and also increased authorised capital from Tk 1.00 billion to Tk 2.50 billion. Chairman in his address mentioned that 2019 was a successful year for the company in terms of revenue and profitability and results had been very pleasing for the investors”. In 2019 turnover increased by 14.2 per cent to Tk 15.5 billion. Profit after tax increased by 12 per cent to Tk 1.0 billion, with earnings per share increasing at the same rate to Tk 10.4 per share.”

Source: https://today.thefinancialexpress.com.bd/stock-corporate/singer-approves-77pc-cash-dividend-1589383621

Bashundhara Group provides masks, PPE to Ansar, VDP

Bashundhara Group provided Bangladesh Ansar and Village Defence Party (VDP) with 25,000 masks and 3,000 sets of PPE as a preventive measure to tackle coronavirus infection. Bashundhara Group Managing Director Sayem Sobhan Anvir handed over the protective equipment to Director General of Bangladesh Ansar and VDP Major General Kazi Sharif Kaikobad at the Ansar & VDP headquarters in the city on Wednesday. Deputy Director General (operations) of Bangladesh Ansar Md Mahbubul Islam, Editor of Bangladesh Pratidin and CEO of News24 Naem Nizam and other higher officials of Bangladesh Ansar were present during the event. As part of its corporate social responsibility, Bashundhara Group has set up the country’s largest 2,013-bed hospital for corona patients. Bashundhara Group has also donated Tk 100 million to the Prime Minister’s Relief Fund. Earlier, the group provided 25,000 face masks, 1,000 PPE for Border Guard Bangladesh (BGB), 50,000 masks for Dhaka Metropolitan Police (DMP), 50,000 masks and 1,400 packets of food items for Rapid Action Battalion (RAB), 50,000 masks, 500 PPEs and 700 packets of food items for Navy, 25,000 masks for DMP Traffic Division (North), 1,000 PPEs and 50,000 masks for the Directorate General of Medical Service (DGMS) to tackle the coronavirus situation.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/bashundhara-group-provides-masks-ppe-to-ansar-vdp-1589383667

MTB introduces Green PIN Service for MTB card holders

Mutual Trust Bank Ltd (MTB), with a view to enhancing green banking and sustainable development, launched Green PIN for all MTB cardholders, said a statement. Green PIN is a Contact Centre IVR-based, instant and secure PIN generation service for all types of cards issued by MTB. This paperless service will help MTB Cardholders to set their new card PIN, change the old PIN as well as reset the old PIN instantly just by calling MTB 24/7 Contact Centre at 16219 from their registered phone numbers. They will no longer need to visit MTB branches or wait for long to receive the new PIN or change the existing PIN. PIN Generation will be just a call away.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/mtb-introduces-green-pin-service-for-mtb-card-holders-1589383745

BRAC Bank waives penal fees on DPS

BRAC Bank announced that it would waive all penalty fees for its DPS customers for late payment amid Covid-19 pandemic. The bank has communicated with all DPS customers. The bank, in continuation of stated strategy to support customers during the government-declared general holidays, said that it would waive the standard fee applied if DPS customers miss their installments during the shutdown period – i.e. from 26 March 2020 to 31 May 2020. The bank will also provide a three – month moratorium period, i.e. extra time from the payment date, for customers to deposit their due DPS installments.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/brac-bank-waives-penal-fees-on-dps-1589383707

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
↓ 516.81↓ 2.17 %
FTSE1005904.05↓ 90.72↓ 1.51 %
Nikkei 22520000.29↓ 266.76↓ 1.32 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 25.55↑ 0.26↑ 1.03 %
Crude Oil (Brent)$ 29.41↑ 0.22↑ 0.75 %
Gold Spot$ 1713.78↓ 2.50↓ 0.15 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 83.3733
GBP 1BDT 102.213
EUR 1BDT 90.3824
INR 1BDT 1.11459





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