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 18, 2020

BB seeks banks’ updated bad loan, provisioning status

The central bank yesterday asked banks to send their figure of defaulted loans and provisioning of the first quarter of this year within tomorrow. Banks have been also asked to provide their announced interest rate on both loans and savings for March, April and May within the next day, according to a Bangladesh Bank letter sent out to all managing directors of lenders. The central bank earlier asked banks to provide the data within 10 days after completion of the ongoing general holidays declared by the government to tackle the spread of the coronavirus pandemic. In a separate move, the central bank said employees of banks will not get special incentive after May 28. The BB asked banks on April 12 to provide the incentive to their employees who are working during the shutdown. As per the central bank instruction, bankers will get a month’s basic salary if they work at least 10 days during the ongoing shutdown. The special incentive will range from a minimum of Tk 30,000 and a maximum of Tk 100,000 a month during the shutdown. But the latest central bank notice said that the government had taken different initiatives to revive the economy. As part of the move, the central bank has moved to extend the banking hours instead of limited banking.

Source: https://www.thedailystar.net/business/news/bb-seeks-banks-updated-bad-loan-provisioning-status-1903540

Islam named new BSEC chair

The government yesterday appointed Shibli Rubayat Ul Islam as the chairman of the Bangladesh Securities and Exchange Commission (BSEC) for four years. He is the seventh chairman of the stock market regulator and replaces M Khairul Hossain, who helmed the position for nine years. Islam is the professor and dean of the business studies faculty at the University of Dhaka and chairman of state-run Sadharan Bima Corporation. He has been in the field of finance and banking education for more than two decades.

Source: https://www.thedailystar.net/business/news/islam-named-new-bsec-chair-1903534

Govt instructs shipping lines to waive container detention charges

The Department of Shipping yesterday instructed foreign shipping lines and their local agents not to impose container detention charges on the import containers because of the coronavirus pandemic. It also asked them to return the charges that have already been collected. The decision came in a meeting with stakeholders chaired by Syed Ariful Islam, director general of the Department of Shipping. Representatives of the Bangladesh Containers Shipping Association, the Bangladesh Garments Manufacturers and Exporters Association, the Federation of Bangladesh Chambers of Commerce and Industry, foreign shipping lines and local shipping agents attended the meeting. Detention charges include the money that merchants pay for the use of container within the terminal beyond the free period and the fee that merchants pay for the use of container outside of the terminal or depot beyond the free period. Usually, containers can stay from five to 21 days without incurring any charges depending on the contracts with shipping companies. After that, $5 to $120 are charged for a container per day in detention charges.

Source: https://www.thedailystar.net/business/news/govt-instructs-shipping-lines-waive-container-detention-charges-1903579

Padma Bank holds 58th Board Meeting

The board of directors of Padma Bank arranged an online board meeting to ensure banking services in the wake of the Corona pandemic. The directors attended the online meeting from home on Saturday.The board meeting was held under the chairmanship of Chowdhury Nafeez Sarafat.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/padma-bank-holds-58th-board-meeting-1589729944

IDLC Finance’s net profit slumps 43pc in Q1

IDLC Finance’s net profit dipped more than 43 per cent year-on-year in the first quarter for January-March, 2020 amid bearish stock market and Covid-19 pandemic. The consolidated financial statements are comprised of the financials of IDLC Finance and its wholly owned subsidiaries: IDLC Securities, IDLC Investments and IDLC Asset Management. The board of directors of the company in a virtual meeting on Thursday last approved the consolidated first quarter (Q1) un-audited financial statements of the company. As per the official disclosure, the company’s net profit after tax stood at Tk 292.63 million in Q1 for January-March, 2020, which was Tk 515.34 million in the same quarter last year. The consolidated earnings per share (EPS) stood at Tk 0.78 for January-March 2020 which was Tk 1.37 for January-March 2019. However, IDLC Finance’s (solo) EPS rose to Tk 1.15 for January-March 2020 which was Tk 1.09 for January-March 2019.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/idlc-finances-net-profit-slumps-43pc-in-q1-1589729662

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
↑ 60.08↑ 0.25 %
FTSE1005799.77↑ 58.23↑ 1.01 %
Nikkei 22520163.73↑ 126.26↑ 0.63 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 30.75↑ 1.32↑ 4.49 %
Crude Oil (Brent)$ 33.58↑ 1.08↑ 3.32 %
Gold Spot$ 1763.72↑ 20.05↑ 1.15 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 83.3343
GBP 1BDT 100.797
EUR 1BDT 90.1260
INR 1BDT 1.10573





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