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 25, 2018

No liquidity crisis in banking sector: governor

The banking sector has enough liquidity now, which is a matter of great comfort for the financial sector. Now the banks need to concentrate more on establishing a better corporate culture, which is a continuous process. The banking regulator cannot develop a corporate culture in banks through rules and regulations. Banks have to practise it. Al-Arafah Islami Bank announced that it had allotted Tk 4 crore for distribution among 800 students in total, each receiving Tk 44,000 a year for three to five years. Any student can apply for the stipend after passing higher secondary education. The relaxation of the cash reserve requirement by Bangladesh Bank in April pumped up Tk 20,600 crore in the banking system in June. Banks were sitting on an additional liquidity of Tk 97,500 crore at the end of June, up from Tk 76,900 crore in March. The bank has kept its default loan rate at 5 percent, which is satisfactory compared with the industry average of above 10.4 percent. But the bank’s credit growth is higher than those of deposits, which should be balanced, he suggested. Proper macroeconomic management helps the macroeconomy to remain stable. The banking sector’s CSR expenditure increased around 20 times to Tk 1,049 crore in June this year, up from Tk 55 crore in 2009, the governor said. “It’s a good sign for the banking sector.

Source: https://www.thedailystar.net/business/news/no-liquidity-crisis-banking-sector-governor-1664686

Banks, FIs should strengthen CSR activities

Bangladesh Bank (BB) governor Fazle Kabir on Saturday called upon the country’s commercial banks for strengthening corporate social responsibility (CSR) activities to create skilled human resources. He said the country, which recently became eligible to graduate from LDC (least developed country) status, needs to overcome too many social and economic challenges for successful transition in the next 6 years. Suggesting banks and financial institutions (FIs) for coming out of the normal banking activities, he said income earnings or capital raise for development works will not be enough for achieving the goal. A total of 200 poor but meritorious students were awarded scholarship for their outstanding performances in the HSC (higher secondary certificate) examination-2018. Sharing the journey of the bank since 1995. AIBL is the first Islami bank in Bangladesh that is rated as B1 by credit rating agency Moody’s,” he added. According to the AIBL statistics, total deposit of the bank stood at Tk 280 billion with investment portfolio of Tk 260 billion and remittance earning worth Tk 40 billion.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/banks-fis-should-strengthen-csr-activities-bb-governor-1543079931

Effective supply chain management can reduce cost of doing business

Inadequate infrastructure, delay at ports and limited access to finance are key barriers to improvement of supply chain management (SCM) in the country, speakers said at a roundtable on Saturday. Poor adaptation and application of technology by the businesses and paucity of skilled labour force at different levels of supply chain are also responsible for holding back the growth of local enterprises, they observed. The observations came at a roundtable titled ‘Challenges and Prospects of SCM in Bangladesh’ jointly organised by IPDC Finance Limited and Bangla business daily Banik Barta at a city hotel. IBM Blockchain Leader Mr Chandanani emphasised the importance of introducing Blockchain system in supply chain for making the business credible through transparent and rating-based operation. Blockchain is an open and cloud-based distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way. bKash head of supply chain, procurement, media & digital buying Md Rashedul Alam stressed the need for introducing and popularising academic courses on SCM to meet the growing demand for professionals in the sector. Reckitt Benckiser Bangladesh head of supply service Zia Uddin said e-commerce or IT-based companies will hit hard the traditional supply chain system in the country shortly. The staggering recent growth of such start-ups is strong evidence to the assumption.

Source: http://today.thefinancialexpress.com.bd/trade-market/effective-supply-chain-management-can-reduce-cost-of-doing-business-1543075393

NBR sets Dec 02 as new tax return deadline

The individual taxpayers now will be able to submit their income tax returns until December 02 as the last date of return submission on November 30 is a weekly holiday. The last date for submitting income tax returns was November 30.

Source: http://today.thefinancialexpress.com.bd/first-page/nbr-sets-dec-02-as-new-tax-return-deadline-1543081485

Workshop on Credit Management

Bangladesh Bank Governor Fazle Kabir along with the bank’s senior executives inaugurating a two-day ‘Workshop on Credit Management’ organised by State Bank of India Bangladesh Operations at its new country office at Gulshan in the city recently.

Source: http://today.thefinancialexpress.com.bd/trade-market/workshop-on-credit-management-1543070092

MTB inks deal with bKash

Anis A. Khan, Managing Director & CEO of Mutual Trust Bank Ltd. (MTB), and Kamal Quadir, Chief Executive Officer of bKash Limited, exchanging an agreement on behalf of their respective entities at a simple ceremony held at MTB Centre, the bank’s Corporate Head Office at Gulshan in the city recently. The agreement allows fund transfer by customers from MTB accounts to bKash accounts and vice versa. The deal also facilitates bKash customers to withdraw cash from any of the MTB ATMs across the country as well as MTB credit cardholders to pay their credit card bills using bKash account.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/mtb-inks-deal-with-bkash-1543080040

Spend more on digital marketing

Companies and brands should spend more on digital marketing to generate greater influence in the market. Companies in Bangladesh are only scratching the surface of a broader digital ecosystem, they said, stressing the need for digging deep to help flourish business. Experts were speaking at Digital Marketing Summit 2018 at Le Meridien Dhaka. Agencies concerned have to play a role to make the top management of the companies understand the importance of such marketing. Local conglomerate Meghna Group of Industries presented this year’s summit which was attended by around 400 professionals and experts from home and abroad. The daylong summit with the theme “’delving deep into digital’” was powered by Content Matters and organised in association with leading English newspaper The Daily Star. The summit was followed by the second digital marketing awards in the evening, when 78 best digital works were awarded in 16 categories. Bangladesh Brand Forum received a total of 456 nominations for the awards.

Source: https://www.thedailystar.net/business/news/spend-more-digital-marketing-1664680

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
Nikkei 22521,646.55↑139.01↑0.65%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 50.42↓4.21↓7.71%
Crude Oil (Brent)$ 58.80↓3.80↓6.07%
Gold Spot$ 1,223.05↓5.59↓0.45%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 83.8750
GBP 1BDT 107.4774
EUR 1BDT 95.0975
INR 1BDT 1.1864





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