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 16, 2019

UNGC, BRAC Bank join hands for sustainability of SMEs

United Nations Global Compact [UNGC] has launched the first ever SME Toolkit Pilot Project with BRAC Bank Limited with a commitment to work together with all the stakeholders to ensure sustainability of SME businesses in Bangladesh. Global Compact Network Bangladesh [GCNB] in partnership with BRAC Bank, UN Global Compact, UNICEF Bangladesh and ILO Bangladesh and DBL Group have observed ‘SME Sustainability Day’ on October 14 for the first time in Bangladesh. The event is aimed at promoting sustainable business through SME entrepreneurship development to gain access to local and international trade, according to a statement. As part of the initiative, 60 promising Bangladeshi SME entrepreneurs were given extensive training on SME Toolkit under the tutelage of UNGC, GCNB and BRAC Bank. In Bangladesh, there are over six million SMEs. They account for 75% of the domestic economy, employ 30% of the workforce and contribute more than 20% to GDP. In the technical session, Belinda Chanda, Operational & Program Support Specialist at ILO Bangladesh made a presentation on ‘Better Work Bangladesh Programme’ and Simon Pickup, CSR Specialist at UNICEF Bangladesh made a deliberation on ‘Children’s Rights & Business’.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/ungc-brac-bank-dev-partners-join-hands-for-sustainability-of-smes-1571161202

Banks still face threat of Data Breach

The country’s Banking sector is still facing threat of data breach despite installation of cyber security technologies and equipment in Banks and financial institutions, according to speakers at a seminar on Tuesday. The risk of cyber security in Local Banks continues mainly due to scarcity of IT professionals and lack of Bank officials’ awareness about cyber security. The observations came at a seminar on ‘Cyber Security-First Responder: Threat Detection and Response’ jointly organized by Bangladesh Institute of Bank Management [BIBM] and DigiSec Council at the BIBM auditorium. Threat detection and response is about utilizing data analytics to find threats across large and disparate data sets, find anomalies, analyze threat level and determine actions for response, according to Mr Sur Chowdhury. Tools used for threat detection and response are designed to collect and analyze forensic data while being configured to monitor and manage security threats. On an average, 197 days to identify a breach in the network system while 69 more days are needed to contain the breach in general. A data breach costs about an average of US$3.86 million of an organization while the average cost per lost or stolen record is around $148. Around 57 per cent of business leaders said it’s taking longer to resolve cyber incidents and 65 per cent said cyber-attack severity is increasing.

Source: http://today.thefinancialexpress.com.bd/trade-market/Banks-still-face-threat-of-data-breach-1571161951

Defaulters require more Loans to pay Bad Debt

Defaulters need further loans to repay their outstanding debts, said Bangladesh Association of Banks [BAB] lawyer Shah Monjurul Hoque on Tuesday. The High Court [HC] heard a Bangladesh Bank [BB] circular that allowed defaulters to reschedule loans upon a down payment of 2.0 per cent of the total loan amount up to 10 years and get further loans. Formation of an enquiry commission to probe irregularities will contrast BB Order and Banking Companies, Anti-Corruption Commission, Artha Rin Adalat and Money-Laundering Prevention Acts. On July 23, HC asked BB and government authorities concerned to explain in 10 days why the May 16 circular in favor of defaulters should not be declared illegal. Earlier on May 21, it issued a status quo on the BB circular until June 24. On July 08, the Supreme Court [SC] extended for two months its stay on the HC order that halted the circular. On July 08, the Supreme Court [SC] extended for two months its stay on the HC order that halted the circular.

Source: http://today.thefinancialexpress.com.bd/trade-market/defaulters-require-more-loans-to-pay-bad-debt-1571161817

Electrical Products’ Market growing fast

The domestic market of electrical products and wiring solutions is growing fast thanks to the rapid urbanization, increased availability of electricity and rising purchasing power of the general mass. Such products now have a market of Tk 5,000 crore, which was hardly around Tk 1,500 crore in 2010, according to Kamruzzman Kamal, director for marketing of Pran-RFL Group, the owning entity of a major market player RFL Electronics. MM Arslan, head of marketing at Bangladesh Lamps Ltd, thinks increasing power generation and massive electrification in rural areas have played the vital role for the market to grow in the last 10 years. On May 29, Bangladesh produced 12,893 megawatts of electricity, the highest ever and a straight fourfold increase from what it was in fiscal 2009-10, according to the power division. The government data says a staggering 93 percent people now have access to power and the number of beneficiaries has doubled within a decade. Moreover, per capita income more than doubled during the period, from $751 in 2009-10 to $1,909 last fiscal year, according to budget documents. RFL Electronics started its operation in 2012 and it currently meets about 10 percent of the total demand for electrical products and its annual growth is around 15 percent.

Source: https://www.thedailystar.net/business/news/electrical-products-market-growing-fast-1814353

NCC Bank, MoneyGram arrange Workshop

NCC Bank & MoneyGram jointly arranged a day long workshop on “MoneyGram Operational Procedures, AML & CFT Compliance” for Sub-agent Banks and NGO at NCC Bank Training Institute on Monday, according to a statement. Dr. Syed Zaved Md. Salehuddin, Faculty Member of Training Institute Co-ordinated the workshop. A total number of 40 officers of different Banks participated in the workshop. The chief guest Khondoker Nayeemul Kabir in his speech expressed hope that this type of workshop will create positive impact on augmenting foreign remittance through proper Banking channel and distribute among the beneficiaries safely, promptly & conveniently complying with all regulatory requirements.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/ncc-bank-moneygram-arrange-workshop-1571161278

Inflation rate up in Sept

The rate of inflation went up by 0.05 percentage points to 5.54 per cent in September over the previous month due to rise in the prices of some non-food items, official data show. The rate of non-food inflation increased by 0.10 percentage points to 5.92 per cent last month, with higher trend seen in rural areas, according to the Bangladesh Bureau of Statistics [BBS] data. In August, the point-to-point non-food inflation rate was 5.82 per cent. The BBS data show that the rate of inflation in the case of non-food items in rural areas increased by 0.17 percentage points to 5.42 per cent in September from 5.25 per cent in August. The food inflation rate rose due to an increase in prices of some items, including onion, ginger, garlic, dry chili, vegetables, eggs and broiler chicken. World Bank and the Asian Development Bank, in their recent development outlook, have forecast that the inflation in Bangladesh would increase.

Source: http://today.thefinancialexpress.com.bd/trade-market/07m-mobile-phone-users-switch-networks-in-one-year-1571075731

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
↑ 237.44↑ 0.89%
FTSE1007,211.64 ↓ 1.81 ↓ 0.03%
Nikkei 22522,545.74 ↑ 338.53 ↑ 1.52%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 52.94 ↑ 0.13 ↑ 0.25%
Crude Oil (Brent)$ 58.90 ↑ 0.16 ↑ 0.27%
Gold Spot $ 1,483.42 ↑ 2.41 ↑ 0.16%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 83.0973
GBP 1BDT 105.411
EUR 1BDT 91.6089
INR 1BDT 1.16504





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