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 31, 2018

BB frames guidelines to help cut NPLs

The central bank has introduced guidelines on the Internal Credit Risk Rating System (ICRRS), aiming to reduce the volume of classified loans through maintaining credit risk exposure within acceptable levels. The guidelines along with a model will be a valuable addition to the credit risk management tools, which will help the banks develop and maintain a better-quality credit portfolio. Some 20 sub-sectors under four key sectors have been included in the model considering financial risks and efficiency of the borrow management. The existing Risk Grading System (RGS) along with ICRRS and the model will be functional simultaneously until June 30, 2019. But the banks must implement the ICRRS along with the mode from July 01, 2019. Since exposure to credit risk continues to be the leading source of problems in banks, they should have a keen awareness of the need to identify, measure, monitor and control credit risk as well as to determine that they hold adequate capital against these risks and they are adequately compensated for risks incurred, according to the ICRRS.

Source: http://today.thefinancialexpress.com.bd/first-page/bb-frames-guidelines-to-help-cut-npls-1540922136

Cut economic disparity to achieve SDGs by 2030

The government should take steps to reduce economic disparity to achieve sustainable development goals by 2030. Sustainable development aims at reducing economic disparity. Corruption is the main barrier for the country’s economic development and the government will be able to achieve more growth only if corruption is cut. Corruption is interrupting the development and widening the disparity. They spoke at a two-day international conference on “Pathways to a sustainable economy: Vision 2041 Agenda for Bangladesh” organised by the PKSF at its conference room in Dhaka. The growth of the country’s gross domestic product was 4 percent in 1990, which improved to 7.86 percent in 2018. At present, 12 percent people live below the poverty line in the United States while for Bangladesh it is 22 percent. Three sessions were held on the first day of the conference where three papers were presented by local and international experts.

Source: https://www.thedailystar.net/business/news/cut-economic-disparity-achieve-sdgs-2030-1654147

Coordinated farming project improves living condition of grassroots people

Krishi Gobeshona Foundation has been working for improving the living standard of the grassroots people in the haor region of Sunamganj. In this connection, a team of Sylhet Agriculture Univeristy (SAU) researchers including Prof Dr Abul Kashem, Prof Dr Abu Bakar Siddique, Prof Dr Md Shahidul Islam, Prof Jashim Uddin Ahmed and Prof Dr Md Abdul Aziz have been working since 2015. They are working under the Coordinated Farming Management Project with 157 grassroots families in Noagaon, Rabbanigaon and Bahadurpur villages in the district. They are trying to invent some better farming techniques for both the Kharif and Rabi seasons. The project cost has been fixed at Tk18 million. Besides, they are imparted with some short training courses and given inputs under the project. He further said the farmers now produce vegetables for family consumption and sale. Their earning is rising gradually. On the other hand, some of the farmers took training on fish cultivation cases while some others are engaged in rearing cattle heads and poultry birds.

Source: http://today.thefinancialexpress.com.bd/country/coordinated-farming-project-improves-living-condition-of-grassroots-people-1540910767

BRAC Bank launches agent banking operation

BRAC Bank Ltd on Tuesday commenced its agent banking operation to take banking solutions to underserved population living in remote parts of the country. The bank has started its agent banking with 10 outlets on the day covering all eight divisions of the country and set a target to increase the number to over 500 in next one year. Speaking at the programme, Mr Abed said agent banking was introduced in Latin America 20 to 25 years back while Bangladesh has been experiencing such banking for last four to five years. We (BRAC Bank) wanted to start agent banking through BRAC’s (NGO) 2,000 micro finance branches across the country, right after a circular issued by the central bank on agent banking few years ago. Their agent banking with biometric verification and digital capabilities will bring convenience to the people with 24/7 banking anytime and anywhere. BRAC Bank agent banking will offer these services to the customers – account opening, cash deposit and withdrawal, deposit plus scheme (DPS), fixed deposit receipt (FDR), fund transfer, foreign remittance, utility bills and insurance premium payment, loan disbursement and repayment, government allowance receipt, debit card and cheque book requisition, and school fee payment. It is the owner of an agent banking outlet who conducts banking transactions on behalf of a bank.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/brac-bank-launches-agent-banking-operation-1540917847

Pacific Jeans investing $100m to diversify products

Top denim maker Pacific Jeans is spending $100 million to set up two new factories in Chattogram in two years with the view to diversifying product base. One of the units, Pacific Knitex, will produce fabrics, while the other, Pacific Casuals, will make activewear, which would help the company broaden its product offerings from denim. Activewear is not a traditional garment product. Rather, it is a specialised product that Bangladesh is yet to explore, which exported denim products worth $400 million in fiscal 2017-18. Asia-Pacific, which lags behind the US and Europe in use of activewear, is also expected to witness significant growth from 2018 to 2024 due to an increase in awareness of health and wellness and a rise in participation of youth population in sports activities. Pacific Jeans, founded by his father M Nasir Uddin in a small scale in the Chattogram Export Processing Zone (CEPZ) in 1994, exports premium denim products. The price ranges from $50 to $180 a piece. It employs 26,000 people in its five factories located in the CEPZ. The new facilities will create another 5,000 jobs. Bangladesh has set the standard, no matter how big or small a factory is.

Source: https://www.thedailystar.net/business/news/pacific-jeans-investing-100m-diversify-products-1654168

ONE Bank Limited launched an OK wallet service

ONE Bank Limited launched an OK wallet service to make mobile financial service proposition fast, more secure and more convenient for Bank’s core banking customers and mobile banking customers. This OK Wallet will cater to wide range of services including cash deposit and withdrawal, in-store shopping by QR code, utility bill payment, money transfer, mobile recharge, inward remittance, insurance premium, salary disbursement, and e-commerce payment. Customers who have bank accounts or mobile banking accounts can use the OK wallet. OK account can be opened and topped up at ONE Bank branches and agent points and cash can be withdrawn at branches, OBL ATMs and agent points.

Source: http://today.thefinancialexpress.com.bd/trade-market/one-bank-launches-ok-wallet-service-1540920950

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
Nikkei 22521,762.57↑305.28↑1.42%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 66.41↑0.23↑0.35%
Crude Oil (Brent)$ 76.33↑0.42↑0.55%
Gold Spot$ 1,218.08↓4.85↓0.40%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 85.2945
GBP 1BDT 108.3672
EUR 1BDT 96.7329
INR 1BDT 1.1522





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