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 November 03 2016

Interest rate spread narrows slightly

Overall spread between lending and deposit interest rates further narrowed slightly, as of September, as country’s commercial banks charged a little lower on loans, officials said. The weighted average spread between lending and deposit rates offered by the commercial banks came down to 4.76% in September 2016 from 4.80% in the previous month as the interest rates on lending decreased more than that of deposits, said sources in the banking circles. The spread was 4.84% in July 2016. The weighted average rates on deposits came down to 5.39% in September last from 5.44% in the previous month while interests on lending dropped to 10.15% from 10.24%, according to the central bank statistics released Tuesday.

Source: http://print.thefinancialexpress-bd.com/2016/11/03/155664

Remittance drops for 4 consecutive months

Inward remittance dropped by 15.4% to USD 4.3 billion in the first four months of the current fiscal year of 2016-17 compared with that of USD 5.0 billion in the same period of last fiscal year as its inflow dropped for the four consecutive months till October. Senior bank officials and an economist suspect that the inflow of remittance decreased as many expatriate Bangladeshis opted to send their money to the country through illegal channels because of a lower rate of the Dollar against the BDT in the banking sector. The inflow of remittance in October also declined to USD 1.0 billion from USD 1.1 billion in the same month a year ago, according to the latest data of Bangladesh Bank. The monthly inward remittance in July, August and September also posted disappointing figures of USD 1.0 billion, USD 1.2 billion and USD 1.1 billion respectively, down from USD 1.4 billion, USD 1.2 billion and USD 1.3 billion in the corresponding three months of the FY 2015-16. The remittance inflow in FY16 decreased to USD 14.9 billion from USD 15.3 billion in FY15.


BSEC approves prospectus of SEML IBBL Shariah Fund

The securities’ regulator has approved the prospectus of SEML IBBL Shariah Fund, a closed-end mutual fund. The size of SEML IBBL Shariah Fund will be BDT 1.0 billion and the offer price of the units of the mutual fund will be BDT 10 each. Of BDT 1.0 billion, BDT 500.0 million and BDT 250.0 million have already been collected from the sponsors and pre-IPO placement holders respectively. The remaining fund worth BDT 250.0 million will be collected by floating IPO (initial public offering). Islami Bank is the sponsor of the SEML IBBL Shariah Fund, whereas Strategic Equity Management Limited is the fund manager. Investment Corporation of Bangladesh (ICB) is working as trustee and custodian of the SEML IBBL Shariah Fund.

Source: http://print.thefinancialexpress-bd.com/2016/11/03/155672

Finance Minister AMA Muhith for bond market as investors are eager

Finance Minister AMA Muhith said he had directed developing bond market as investors from home and abroad were agog. Stakeholders, on the other hand, favored cash dividends from the listed firms instead of bonus for a vibrant equity market. He views that the capital market is now on the path of stability, being run by adequate rules and regulations. The finance minister notes that it now needs development of bond market as there are many institutions ready to issue such borrowing tools and investors are also eager.

Source: http://print.thefinancialexpress-bd.com/2016/11/03/155691

ADB raises Bangladesh lending by 60.0%

The Asian Development Bank has unveiled a new country strategy for Bangladesh for the next five years in order to help the country diversify its economy and accelerate rural and balanced regional development. It would adopt a broad-based approach for the Country Partnership Strategy period spanning 2016-20 such that it can respond flexibly to Bangladesh’s needs and demands. Under the new partnership strategy, which was unveiled yesterday at a program at the National Economic Council in Dhaka, the ADB will provide USD 8.0 billion to Bangladesh, up 60% from the previous five-year program. Half of the lending will be concessional while the remainder will carry market-based interest rates, according to an official of the bank.


Telecommunications providers demand interim pricing for MFS before cost modelling

Country’s mobile phone companies have demanded immediate decision on the pricing of mobile financial services arguing that the regulatory move to conduct a cost modelling for the purpose would be time consuming. In a letter to Bangladesh Telecommunication Regulatory Commission recently, the Association of Mobile Telecom Operators of Bangladesh also said delaying the process would cause significant amount of revenue loss to the government. The BTRC earlier in October, after a meeting with Bangladesh Bank, MFS operators and mobile operators, decided to send a proposal to telecom ministry to conduct a cost modelling to determine the USSD pricing of the MFS. The operators have demanded a price of BDT 1.5 for a 2 minutes session.

Source: http://www.newagebd.net/article/1972/telcos-demand-interim-pricing-for-mfs-before-cost-modelling

New alliance formed for market equality in telecom, ICT

Aiming to ensure fair competitive market for country’s private sector, a new alliance named Bangladesh Alliance for Fair Competition Wednesday started its journey with the participation of representatives from different sectors. BAFCOM is formed with the collaboration of BASIS, FBCCI, DCCI, MCCI, JCI Bangladesh, Bankers Association, Insurance Association, eCab, BACCO, ISPAB, Bangladesh Copyright and IP Forum, Bangladesh Innovation Forum, Music Industries and all other associations and forums of Bangladesh. President of Bangladesh Association of Software and Information Services Mustafa Jabbar will lead the fifteen members of the convening committee of the non-profit organisation BAFCOM. The announcement of the new platform made at a press conference at BASIS office Wednesday morning to break the monopoly business of few companies, especially in telecommunication and ICT sectors, by ensuring consumers’ interest.

Source: http://www.newagebd.net/article/1976/new-alliance-formed-for-market-equality-in-telecom-ict

Economic Relations Division (ERD) for change in implementation process of development projects

According to officials, ERD is working to ensure quick implementation of the development projects. Meanwhile, the ERD proposal on the matter has been supported by the monitoring committee on Fast Track Projects. It will also incorporate the provision of land acquisition worth BDT 50.0 million with the permission from the respective ministries and divisions while it will be necessary to get the consent from Prime Minister Sheikh Hasina for the land acquisition of above BDT 500.0 million. ERD proposal titled ‘The alter of the structure and process of implementation of the development project to expedite’ will be placed at the next cabinet committee on economic affair meeting. Meanwhile, the development spending improves slightly in the first quarter of the current fiscal year but it is still lagging far behind the historical trend. Between the months of July-September, the ministries and divisions put to use 8.8% of their total outlay for fiscal 2015-17, which from 7.0% they managed a year earlier ago.

Source: http://www.dhakatribune.com/business/2016/11/03/erd-change-implementation-process-development-projects/

Timely implementation of Moheshkhali LNG terminal uncertain

Excelerate Energy, the construction contractor of Bangladesh’s maiden liquefied natural gas (LNG) terminal, is being put up for sale – making it uncertain whether the terminal will be implemented timely or not. Officials said the new owner of the US company might implement the project while local business people were apprehending it would create an uncertainty, causing a major setback in ensuring uninterrupted energy supplies in the country and accelerating its economic growth. American investment bank JP Morgan has been appointed to oversee the process of its sale, which could be wrapped up by March or early in the second quarter of 2017. Bangladesh’s long-cherished plan of importing liquefied natural gas (LNG), riding on the proposed LNG terminal, is feared to be faltered as the consequence.

Source: http://print.thefinancialexpress-bd.com/2016/11/03/155692

Local and Global Stock Indices

Index NameClose ValueValue ChangePercentage Change
Dow Jones Industrial Average17,959.64↓77.46↓0.43%
Nikkei 2256,845.42↓71.72↓1.04%
FTSE 10017,134.68↓307.72↓1.76%

World Commodities

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)*$45.81↑0.47↑1.04%
Crude Oil (Brent)*$47.47↑0.61↑1.30%
Gold Spot*$1,304.57↑7.76↑0.60%

Major Currencies Exchange Rates Movement in Last Seven Days






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,

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Managing Director & CEO
Dhaka Bank Limited