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

Click to Close

Rate last updated: 02/01/2014 11:15:04 AM

Important Business News Extracts October 09, 2018

Banks can lend more

Commercial banks have been empowered to lend more as the central bank has relaxed cash reserve requirement (CRR) and statutory liquidity ratio (SLR) rules. Officials said the banks are allowed to maintain both CRR and SLR with the Bangladesh Bank (BB) only for net investment in subordinate bonds instead of the previous gross investment amount. Currently, the banks have issued subordinate bonds worth around Tk 150 billion to consolidate their capital base in line with the Basel-III framework. The banks have been allowed to comply with the CRR and SLR rules separately since 2014 for implementing monetary policy effectively. Under the existing rules, they will have to maintain 5.50 per cent CRR with the central bank from their total demand and time liabilities on a biweekly basis. Besides, the banks are now allowed to maintain the reserve at 5.00 per cent on a daily basis, but the biweekly average has to be 5.50 per cent in the end. Under the extended timeframe, the banks having ADRs above re-fixed limit are allowed to implement the revised limit of ADRs by March 31, 2019, instead of December 31, 2018. The ADR is re-fixed at 83.50 per cent for conventional banks and 89 per cent for Shariah-based Islami banks. The existing ratios are 85 per cent and 90 per cent respectively.

Source: http://today.thefinancialexpress.com.bd/first-page/banks-can-lend-more-1539020562

Export earnings in Sep up 55pc

The country’s single-month earnings from merchandise goods hit a record 54.64 per cent growth to reach $3.14 billion in September 2018. The earnings also surpassed the target set for the month by 14.74 per cent. The country fetched $2.03 billion during the corresponding month of last year. The overall earnings during first three months of current fiscal year of 2018-19 stood at $9.94 billion marking 14.75 per cent growth. The export performance was 6.54 per cent higher than the target set for the period, data showed. The earnings were $8.66 billion during July-September of last fiscal. Experts and exporters attributed the robust growth to the surge in RMG productivity performance. Earnings from export of RMG products during July-September of this fiscal grew by 14.66 per cent to $8.19 billion, which was $7.14 billion in the corresponding period of last fiscal. The country earned $4.20 billion from knitwear export during the period, which marked a growth of 12.27 per cent compared to that of $3.74 billion in the corresponding period. The earning from woven garments in the first three months of FY’19 grew by 17.30 per cent to $3.98 billion, from $3.39 billion in the same month of FY 18. The EPB data showed that earnings from home textile witnessed a growth of 4.80 per cent to $202.99 million from $193.69 million. Frozen and live fish exports in the first three months of current fiscal witnessed a negative growth of 18.17 per cent to $137.70 million during the same period of current fiscal.

Source: http://today.thefinancialexpress.com.bd/trade-market/export-earnings-in-sep-up-55pc-1539014909

More efforts needed to cut banking graft: ICCB

More efforts are needed to tackle the banking sector’s deep-rooted problems of corruption and poor risk management practices, according to International Chamber of Commerce Bangladesh (ICCB). Capital adequacy is the primary indicator of banks’ financial fitness and stability and banks are required to maintain at least 11.81 percent capital adequacy ratio (CAR). But as of June, banks’ CAR in Bangladesh stood at 10 percent, down from 10.11 percent a quarter earlier. the total loan in the banking sector amounted to Tk 752,730 crore. Of the sum, Tk 80,307 crore or 10.67 percent of the total was bad debt. The NPL in the banking sector goes up to 17 percent of the total outstanding loans.

Source: https://www.thedailystar.net/business/news/more-efforts-needed-cut-banking-graft-iccb-1644598

President signs Digital Security Bill into law

President Md Abdul Hamid has signed the Digital Security Bill 2018 into law amid objections from several media and rights organisations. The 22nd session of the 10th parliament, which was prorogued on September 20, passed a total of 18 bills, including the Digital Security Bill 2018 and Road Transport Bill 2018. The ‘Digital Security Bill, 2018’ was passed in Parliament to deal with cybercrimes, including hurting the religious sentiment, negative propaganda against the Liberation War and Bangabandhu, and illegal activities in e-transactions and spreading defamatory data. The parliament passed the bill on September 19.

Source: http://today.thefinancialexpress.com.bd/first-page/president-signs-digital-security-bill-into-law-1539020599

Commercial cultivation of Golpata plants

Commercial cultivation of Golpata plants is gaining popularity in Paikgachha.

Source: http://today.thefinancialexpress.com.bd/country/commercial-cultivation-of-golpata-plants-1539013405

Commercial banana cultivation gains ground in Rajshahi district

The price of banana remained dull during last year. But, this year the price of banana price is encouraging. The price of a full, large size bunch of banana was being sold at Tk 1,000. Though the price is a bit low now-a-days, but still a bunch of banana is not available below Tk 500. According to source of the Department of Agriculture Extension (DAE), banana was cultivated in more than 8,000 bigha of land than that of last year. Last year banana was cultivated on 1,496 hectares of land but this year banana has been cultivated on 1,496 hectares of land in the district. Farmers informed, 300 to 350 banana plants can be transplanted on a bigha of land and it costs Tk 20,000 to Tk 25,000 to cultivate banana on a bigha of land. There is usually no pest infestation in the banana plant and a farmer can sell banana worth Tk 80,000 to Tk 100,000 from selling those. Farmer has to spend Tk 70 to Tk 80 to produce a bunch of banana.

Source: http://today.thefinancialexpress.com.bd/country/commercial-banana-cultivation-gains-ground-in-rajshahi-district-1539013254

Stock market can’t keep pace with economic growth

The stock market has failed to keep pace with the country’s robust economic growth because of the reluctance of the conglomerates to get listed and give the general people the opportunity to invest in good companies, analysts said yesterday. Bangladesh’s gross domestic product is growing at over 7 percent every year but the growth of market capitalisation is not on a par with it, they said. The Central Depository of Bangladesh Limited (CDBL) and the University of Liberal Arts (ULAB) organised the event on investors’ education and protection, on ULAB’s Jigatola campus. The risk was higher, as the base of retail investors was much higher than institutional investors. Investors should gain proper knowledge about the stock market before pouring their money into it.

Source: https://www.thedailystar.net/business/news/stock-market-cant-keep-pace-economic-growth-1644595

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DSEX 5,440.94729 ↑30.13362 ↑0.56%
DJIA26,486.78↑39.73 ↑0.15%
Nikkei 22523,564.91↓218.81↓0.92%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 74.62↑0.33↑0.44%
Crude Oil (Brent)$ 84.34↑0.43↑0.51%
Gold Spot$ 1,190.45↑2.37↑0.20%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 83.7500
GBP 1BDT 109.6539
EUR 1BDT 96.2455
INR 1BDT 1.1325





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