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 17, 2019

Eight Sectors to enjoy Advance Tax waiver

Some eight sectors, including solar panel manufacturers and animal feed manufacturers, will enjoy exemptions from the payment of advance tax at the import stage. The advance tax is payable at the import stage and the importers are allowed to adjust or get refund of the paid taxes from the relevant VAT zones. Also, goods imported for personal consumption under the passenger baggage rules and motorized vehicles imported by parliament members under the duty-free benefits will also enjoy the same benefit. The National Board of Revenue has issued a regulatory order recently by waiving the tax for the sectors. In the current fiscal year’s budget, the value added tax wing under the NBR imposed the taxation at a rate of 5.0 per cent on most of the products to be imported. The NBR waived the taxes for those sectors as it found the importers are exempted from the payment of other taxes at the import stage. Solar panel manufacturers will get the waiver from the payment of advance taxes on the import of machinery, spare parts and raw materials. Spinning mills will enjoy the exemption in respect of import of artificial staple fiber.

Source: http://today.thefinancialexpress.com.bd/first-page/eight-sectors-to-enjoy-advance-tax-waiver-1571248838

Livestock Ministry seeks ban on Meat Import

The Ministry of fisheries and livestock [MoFL] has requested the government to impose restrictions on the import of frozen processed meat in order to protect the local livestock industry, according to officials. In a letter sent to the Ministry of Commerce [MoC] recently, the fisheries and livestock ministry proposed making some amendments to the import policy to discourage meat import. A letter to the commerce ministry with a request to make some amendments to the existing import policy and ban the import of processed meat with a view to boosting the local cattle farming industry, according to Additional Secretary [Livestock-2] Kazi Wasi Uddin. The country is now breeding more cattle in keeping with the annual demand. The country does not have enough modern laboratories to properly examine whether the imported meats are safe to eat. ‘Bangladesh Animal and Animal Product Quarantine Act, 2005’ requires a person to take prior permission from the department concerned for the import of processed meat, according to a high official of the Department of Livestock Services [DoLS]

Source: http://today.thefinancialexpress.com.bd/trade-market/livestock-ministry-seeks-ban-on-meat-import-1571247601

BD ahead of India, Pakistan in Global Hunger Index

Bangladesh has ranked 88th out of 117 qualifying countries on the Global Hunger Index [GHI] 2019 with a score of 25.8, which is higher than India and Pakistan, reports BSS. Pakistan ranked 94 with a score of 28.5 while India ranked 102 with a score of 30.3 in terms of severity of hunger, according to the GHI report 2019, available on its website. The country with the severest problem of hunger at rank 117 of the index is the Central African Republic. The GHI calculates the levels of hunger and under nutrition worldwide. The four indicators for the index are undernourishment, child stunting, child wasting and child mortality. Concern Worldwide and WeltAccording to the report, India’s GHI indicator values have an outsized impact on the indicator values for the South Asian region. Hungerhilfe jointly publish the GHI report every year to comprehensively measure and track hunger at the global, regional, and country levels and trigger action to reduce hunger around the world.

Source: http://today.thefinancialexpress.com.bd/first-page/bd-ahead-of-india-pakistan-in-global-hunger-index-1571249210

BSC generates Highest Turnover

Ten most traded companies captured 32 per cent transactions on the prime bourse on Wednesday, with the Bangladesh Shipping Corporation [BSC] generating the highest turnover. Market insiders said investors were active on BSC shares throughout the session following its corporate declarations. The state-run company has recommended 10 per cent cash dividend for the year ended on June 30, 2019, said an official disclosure on Wednesday. According to the Dhaka Stock Exchange [DSE] data, about 4.04 million shares of BSC were traded, generating a turnover of 214 million, which was 6.59 per cent of the day’s total turnover of Tk 3.24 billion. The company’s share closed at Tk 52 each on Wednesday, losing 1.52 per cent over the previous day. The company’s paid-up capital is Tk 1.52 billion and authorised capital is Tk 10 billion, while the total number of securities is 152.53 million.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/bsc-generates-highest-turnover-1571246932

ACC, BFIU team up to fight Money Laundering

The Anti-Corruption Commission [ACC] will work closely with the Bangladesh Financial Intelligence Unit [BFIU] to check money laundering and bring back the money siphoned off abroad. The two organizations signed a memorandum of understanding [MoU] in this regard at the ACC headquarters in the city on Wednesday, according to an ACC press release. As per the MoU, they will exchange information to combat money laundering. The conviction rate in money laundering cases, conducted by the ACC, is 100 per cent though the number of cases is quite low, according to ACC secretary Muhammad Dilwar Bakht.

Source: http://today.thefinancialexpress.com.bd/trade-market/acc-bfiu-team-up-to-fight-money-laundering-1571247676

Experts urge Govt Agencies to update info on Websites

Speakers at a workshop on Wednesday said global indexes, prepared by different international organizations, often do not reflect Bangladesh’s actual position mainly due to unavailability of latest data. Keeping this in view, they suggested updating websites of the government and other allied agencies with latest development-related data, so that they are properly mirrored in the indexes. However, improving business environment, ensuring good governance, and free flow of information are crucial for enhancing the country’s image abroad. The observations at a national workshop, jointly organized by the Bangladesh Bureau of Statistics [BBS] and the Access to information [A2i] programme. According to M A Mannan, patriots always want to enhance the country’s image among other nations, but the improvement of Bangladesh is not truly reflected in many indexes. Various achievements of the country are not duly presented. As a result, our position is not properly reflected in different indexes.

Source: http://today.thefinancialexpress.com.bd/trade-market/experts-urge-govt-agencies-to-update-info-on-websites-1571247652

Bangladesh can be Source of Muslim-Friendly Tourism: State Minister

According to State Minister for Civil Aviation and Tourism M Mahbub Ali,Muslim-friendly environment across the Bangladesh can be a great source to meet the growing demand of Muslim travelers, reports BSS. Muslim-friendly tourism is the potential segment for Bangladesh to attract tourists from the Muslim countries as well as non-Muslim countries. Bangladesh Tourism Board [BTB] and Statistical, Economic and Social Research and Training Centre for Islamic Countries [SESRIC], an organ of the Organization of Islamic Cooperation [OIC] organized the seminar, styled ‘Muslim-friendly Tourism’. Noting that Bangladesh is the fourth largest Muslim populated country in the world. There are mentionable numbers of mosques, monuments, Islamic archaeological sites and shrine scattered across the country while nearly five millions of Muslims from around the globe congregate in the country during the ‘Bishwa Ijtema’. Dhaka is known as the ‘City of Mosque’. This city is full of many heritage of Islam as well as all major religion of the world. Dhaka was chosen as the ‘City of Tourism for 2019’ by the tourism ministers of the OIC member states at the closing session of the 10th Islamic Conference of Tourism Ministers [ICTM] that was held last year in Dhaka. With a market potential of more than 50 Muslim countries and no less than 1.6 billion Muslims, tremendous opportunities await those who are willing to meet the demands for Muslim-friendly tourism products and services.

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DSEX4781.62920↓ 40.01↓ 0.82%
↓ 22.82↓ 0.08%
FTSE1007,167.95 ↓ 43.69 ↓ 0.61%
Nikkei 22522,545.74 ↑ 338.53 ↑ 1.52%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 52.87 ↓ 0.49 ↓ 0.92%
Crude Oil (Brent)$ 58.96 ↓ 0.46 ↓ 0.77%
Gold Spot $ 1,488.57 ↓ 1.56 ↓ 0.10%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 83.0447
GBP 1BDT 106.160
EUR 1BDT 91.7535
INR 1BDT 1.16342





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