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 27, 2019

Footwear retailers eye Tk 3,000cr sales this Eid

Footwear manufacturers and retailers are looking to rake in Tk 3,000 crore in sales this Eid-ul-Fitr as sandals and shoes are high on the shopping lists of customers from all walks of life. According to Nasir Khan, MD of Jennys Shoes Ltd., all brands are witnessing a happy Ramadan as sales have increased. Renowned brands such as Apex, Jennys, Bata, Bay, Zeils and Leatherex as well as imported footwear, especially non-branded Chinese products have been found to be high in demand for their lower prices and pretty look. As per Mr. Khan, a third of the total annual sales of all branded and non-branded footwear is sold ahead of Eid-ul-Fitr. Local sales fetched Tk 10,000 crore to Tk 12,000 crore in 2018.

Source: https://www.thedailystar.net/business/news/footwear-retailers-eye-tk-3000cr-sales-eid-1749502

Govt to allocate Tk 10,000cr as subsidy for LNG imports

The government is likely to allocate Tk 10,000 crore in the budget for the next fiscal year (2019-20) for subsidising the imports of liquefied natural gas. According to the official, LNG became the new item of the subsidy basket under the budget. Against the shortage of local gas output, state-owned Petrobangla and local private group Summit are importing LNG, which is being supplied as gas to the end customers at the government-set price. Finance ministry officials said that the government had released Tk 2,500 crore as subsidy against the LNG imports in the outgoing fiscal year (2018-19). As the government-set price of LNG is lower than the import prices, the importers need subsidy to recoup the import costs, said a general manager of Rupantarita Prakritik Gas Company Limited.

Source: http://www.newagebd.net/article/73611/govt-to-allocate-tk-10000cr-as-subsidy-for-lng-imports-in-next-budget

BB moves to regulate banks’ non-listed investment

The Bangladesh Bank recently issued a guideline to regulate banks’ investment in non-listed securities with a view to keeping their risks at a tolerable level. Non-listed securities include non-listed equity share, non-convertible bond, debenture, open-ended mutual fund, and non-convertible cumulative preference share. The move from the Central Bank came after it separated banks’ investment in the non-listed securities from their exposure to the stock market. In case of non-listed equity share, banks’ investment must be less than 5 percent of their paid-up capital, share premium, statutory reserve, and retained earnings. The investment of a bank must be lower than 10 percent of the non-listed company’s paid-up capital too. The price of shares of non-listed companies, including premium should not be higher than 110 percent of its net asset value. In case of investment in preference shares, it should be non-convertible cumulative and would be included in the banks’ single borrower exposure limit.

Source: https://www.thedailystar.net/business/news/bb-moves-regulate-banks-non-listed-investment-1749484

Mercantile Bank puts thrust on SME, agent banking

Mercantile Bank Limited has taken a number of steps to broaden its activities in the areas of SME, IT-based banking and agent banking. According to Md. Quamrul Islam Chowdhury, MD & CEO of Mercantile Bank Limited (MBL), developing the small and medium enterprises (SME), flourishing the modern IT-based banking and opening agent banking services are our new targets, which in turn will broaden the financial inclusion. MBL will complete 20 years of operation on June 2 next. He also added, they have disbursed Tk 30.25 billion among 9,400 SME clients till December 31, 2018 and it will be enhanced in near future to help propel the SME businesses across the country.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/mercantile-bank-puts-thrust-on-sme-agent-banking-1558893004

MoI to train farmers on mechanisation

The Ministry of Industries (MoI) decided on Sunday to provide training to the farmers on agriculture mechanisation for increasing productivity. Under the move, the National Productivity Organisation (NPO) of the MOI will provide training to the farmers. The decision to train the farmers was taken at the 13th meeting of the National Productivity Council (NPC) at the conference room of the MoI in the city, with Industries Minister Nurul Majid Mahmud Humayun in the chair. Industries secretary Md Abdul Halim was present. The training would help tackle the shortage of labour in the sector while the people’s/ farmers inclination to the technological excellence will increase. It would also help ensure products’ diversification in a planned way following the commercialisaiton of traditional agriculutre system.

Source: http://today.thefinancialexpress.com.bd/trade-market/moi-to-train-farmers-on-mechanisation-1558895270

Habibur Rahman joins as UCBL DMD

Habibur Rahman has joined United Commercial Bank (UCB) as deputy managing director recently. Prior to his joining UCB, he was senior executive vice president at the Corporate Banking division of Eastern Bank. Mr. Habibur worked in different financial institutions like Bank Indosuez, ANZ Grindlays, Standard Chartered, Toronto Dominion (TD), HSBC, City and EBL.

Source: http://www.newagebd.net/article/73620/habibur-joins-as-ucbl-dmd

CMCCI elects new leaders

Alhaj Khalilur Rahman has been re-elected President of the Chattogram Metropolitan Chamber of Commerce and Industry (CMCCI) for the next two years. Swakat Ali Chowdhury has been re-elected the first Vice-President while Saiful Alam Masud, A M Mahabub Chowdhury, Mohammed Abdus Salam, M A Malek and Jashim Uddin Chowdhury have been re-elected Vice Presidents for 2019-2021.

Source: http://today.thefinancialexpress.com.bd/trade-market/cmcci-elects-new-leaders-1558895366

Uttara Bank gets new DMDs

Md Ashraf-uz-Zaman and Md Abul Hashem have been appointed as deputy managing director of Uttara Bank. Previously, Ashraf was executive general manager of the Bank. Ashraf started his Banking career with Uttara Bank in 1988 as a probationary officer. Mr. Ashraf obtained his master’s degree with honours in political science from the Rajshahi University in 1982. Mr. Hashem was executive general manager of the bank before the new appointment.

Source: http://www.newagebd.net/article/73403/ashraf-hashem-become-uttara-bank-dmds

ICB, Popular Life ink trust deed

Investment Corporation of Bangladesh (ICB) and Popular Life Insurance Company Limited has signed a trust deed of new open-end fund named ‘Capitec Popular Life Unit Fund’. The companies have taken this initiative with the aim of accelerating the mutual fund industry and capital market of Bangladesh.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/icb-popular-life-ink-trust-deed-1558893065

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA25,585.69 ↑95.22 ↑0.37%
Nikkei 22521,168.67↑51.45↑0.24%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 58.59↓0.04↓0.07%
Crude Oil (Brent) $ 68.88↑0.19↑0.28%
Gold Spot $1,286.99↑2.06↑0.16%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 82.6253
GBP 1BDT 105.0260
EUR 1BDT 92.5539
INR 1BDT 1.1895





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