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 October 09, 2019

BRAC Bank earns JPMorgan Chase Recognition

Renowned American Bank, JPMorgan Chase, has recognized BRAC Bank Limited for consistency and reliability in automated payment processing. The international recognition came for achieving the best-in-class Straight Through Processing [STP] payments in both MT202 and MT103 categories for the second consecutive years. STP is the automated process of payments without manual intervention that increases processing speed, minimizes routing errors, lowers operation and transaction costs while resulting in efficient, rapid payment execution and credit to the Bank and the customers it serves. Chowdhury Akhtar Asif, Deputy Managing Director and CRO, BRAC Bank, received the award from Christine Tan, Managing Director, Head of Asia Pacific- Financial Institutions Group of JP Morgan Chase at BRAC Bank Head Office in Dhaka. This award is the recognition of BRAC Bank’s inter-bank and clients’ transactions being carried with speed and accurately, saving time and cost while minimizing risks, according to Chowdhury Akhtar Asif.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/brac-bank-earns-jpmorgan-chase-recognition-1570549263

 10 Small Cap Cos to be listed on DSE’s SME Platform

The country’s Small and Medium Enterprises [SMEs] will be able to attract foreign investments through V-Next online platform introduced by the Dhaka Stock Exchange [DSE], according to Discussants. The DSE introduced the V-Next platform in May last for the SMEs who are looking for foreign investors. The SMEs will be able to seek foreign investments through the V-Next online platform by uploading details of their firms. According to the BSEC Chairman, they are ‘lucky’ as the Chinese consortium has become strategic partner of the prime bourse. The market intermediaries will be able to increase their operating profits by taking the advantage of V-Next platform. The V-Next platform will play a vital role to intensify the foreign portfolio investments in SMEs and listed companies as well. The corporate culture and governance of their companies will also be enriched, according to BSEC Chairman Khairul. The premier bourse has also taken the initiative of connecting the local sponsors to the SME platform of the Chinese consortium comprising Shenzhen Stock Exchange and Shanghai Stock Exchange.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/10-small-cap-cos-to-be-listed-on-dses-sme-platform-1570549070

Premier Bank signs Deal with Ryans IT

The Premier Bank Limited signed an agreement with Ryans IT Ltd at the Bank’s head office in the capital. Under the agreement, all Premier Bank Credit Cardholders will enjoy up to 12 months zero per cent interest free Equal Monthly Installment [EMI] from Ryans IT Ltd. Additional Managing Director Md. Abdul Jabber Chowdhury of the Premier Bank Limited and Mr. Ahmed Hasan, Managing Director of Ryans IT Ltd signed the agreement on behalf of their respective organizations.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/premier-bank-signs-deal-with-ryans-it-1570549201

 SIBL signs Deal with Karnaphuli Gas Distribution Company

Social Islami Bank Limited [SIBL] signed an agreement with Karnaphuli Gas Distribution Company Limited, to collect gas bill through online, according to a statement. Engineer Khayez Ahmed Mojumdar, MD of Karnaphuli Gas and Md. Sirajul Hoque, Deputy Managing Director of SIBL, signed the agreement on behalf of their respective organizations. Under this agreement the clients of Karnaphuli Gas will be able to pay their gas bill in any branch of SIBL through online.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/sibl-signs-deal-with-karnaphuli-gas-distribution-company-1570549327

 LWG to be invited for Savar Tannery Estate Audit

Bangladesh plans to invite Leather Working Group [LWG], a global rights body, early next year to examine the Savar Tannery Industrial Estate [STIE] to attain the standard certificate, as the remaining development works are expected to be finished by the end of this year, reports BSS. To attain the LWG certificate, a decision of conducting a ‘mock audit’ was taken at a review meeting on the implementation of the Central Effluent Treatment Plant [CETP] and overall works of STIE at the conference room of STIE on Tuesday, according to a Ministry release. LWG is made up of member brands, retailers, product manufacturers, leather manufacturers, chemical suppliers and technical experts that have worked together to develop an environmental stewardship protocol specifically for the leather manufacturing industry. The LWG certification is awarded to the companies based on the points presented on factors such as solid waste management, treatment and less usage of water, chemical use and labor welfare etc. Out of 100 points, 85 bring gold certification, 75 silver and 65 bronze. The meeting was apprised that 98 per cent work of the CETP has been completed and currently four modules of the CETP are working to treat wastages. Besides, installation work of the three units of the nine dewatering units has been completed while the remaining is expected to be finished within October 25.

Source: http://today.thefinancialexpress.com.bd/trade-market/lwg-to-be-invited-early-next-year-for-savar-tannery-estate-audit-1570550290

 Jute Goods Makers get a shot in the arm

Jute goods makers have got a shot in the arm from the National Board of Revenue, which has extended reduced tax benefit to them until fiscal 2022-23. At present, jute goods manufacturers pay 10 percent tax on their export income instead of 35 percent. But that privilege was due to expire in June next year. Now, the revenue authority has extended the benefit not only by three years but has also expanded it to those who do not export. In other words, jute goods makers would now pay 10 percent tax on their income.  Backed by the availability of raw jute for domestic cultivation, the industry depends largely on exports as the domestic market for jute goods such as sacks and bags is not big enough. In recent years, export of jute and jute goods has been oscillating thanks to the crisis in the Middle East and the anti-dumping duty slapped by India in January 2017. In fiscal 2018-19, jute and jute goods exports dropped 20 percent. In the first quarter of the fiscal year, it edged up 2 percent, according to data from the Export Promotion Bureau [EPB]. The reduced tax benefit has been provided so that the sector recovers from its present situation, according to Taxmen. Jute goods is one of the half a dozen of industrial sectors that enjoy reduced tax rate, much below the normal corporate tax rate for companies. Garment, the main export earner, and textile are the other two. Besides, tax break is available for the power sector and factories to be established in economic zones, hi-tech parks and export processing zones.

Source: https://www.thedailystar.net/business/news/jute-goods-makers-get-shot-the-arm-1811263

 Bangladesh ‘Foremost Partner’ in ITEC Programme: Riva Das

Bangladesh is the ‘Foremost and Valued Partner’ under the Indian Technical and Economic Cooperation Programme or ITEC, Indian high commissioner in Dhaka, according to Riva Ganguly Das. A tailor-made course for teachers on IT, web designing, English communication skills and pedagogy was designed on the specific request of the government of Bangladesh. Five batches of the tailor-made course have so far been conducted at the National Institute of Technical Teachers Training and Research [NITTTR], Chennai, in which 200 teachers from schools, colleges, polytechnics, vocational education institutes, universities and madrasas have been trained. Every year more than 10,000 training slots are offered to 161 partner countries for training courses in various areas like accounts, audit, management, SME, rural development and parliamentary affairs. Over 4,000 young Bangladeshi professionals have undergone such specialized short and medium term courses in India under the ITEC programme since 2007.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/bangladesh-foremost-partner-in-itec-programme-riva-das-1570555319

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DSEX4894.31301↓ 22.37↓ 0.45
↓313.98 ↓1.19%
FTSE1007,143.15↓ 54.73↓0.76%
Nikkei 22521,442.98↓144.80↓0.67%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 52.47 ↓0.16 ↓0.30%
Crude Oil (Brent)$ 58.07 ↓ 0.17 ↓0.29%
Gold Spot$ 1,505.75 ↑ 0.24 ↑ 0.02%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 82.9615
GBP 1BDT 101.581
EUR 1BDT 91.0018
INR 1BDT 1.16777





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