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 September 03, 2019

GDP growth tops 26 Countries

Bangladesh recorded the highest economic growth among a list of 26 countries in the last 10 years, according to The Spectator Index. Since 2009, the country’s Gross Domestic Product [GDP] expanded 188 percent at the current prices. In the past decade, China’s economy grew 177 percent, India 117 percent, Indonesia 90 percent, Malaysia 78 percent, Australia 41 percent and Brazil 17 percent, according to a chart posted on The Spectator Index’s Twitter and Instagram accounts. Bangladesh will set an example in the world if the present trend of the GDP growth continues under the leadership of the prime minister according to Mr. Kamal. The country’s GDP size was $102 billion in 2009. Last year, it stood at $274 billion on the back of steady economic growth, data from the World Bank showed. The GDP size surpassed the $300-billion mark in June, government figures showed.

Source: https://www.thedailystar.net/business/bangladesh-recorded-the-highest-gdp-growth-1794736

DBL launches Contactless Mastercard Titanium Credit Card

Dhaka Bank Limited has announced a partnership with Mastercard to launch their Mastercard Titanium Contactless Credit card in Bangladesh during a product launching ceremony Monday, said a statement. Mr. Syed Mahbubur Rahman, Managing Director & CEO, Dhaka Bank Limited and Mr. Syed Mohammad Kamal, Country Manager, Bangladesh, Mastercard were present in the event. Moreover, Mr. Emranul Huq, Additional Managing Director, Mr. Shafquat Hossain, SEVP & Head Retail Business Division of Dhaka Bank Limited along with other senior executives of both the organizations were present at the event With this launch, the Bank along with Mastercard has embarked on the journey of bringing latest technology of card-based payments in the country. The launching ceremony was held at a renowned hotel in the capital city. The Contactless EMV-enabled Mastercard Titanium Credit Card will facilitate more secure way to transfer and store credit card information of the users as well as ease cardholders’ day-to-day transactions by allowing them to simply tap the card in front of a card-reader or POS terminal to complete the transaction, thereby eliminating the need for swiping or inserting the card into the terminal. Along with the relentless pursuit of pacing up with new technology, Dhaka Bank Limited and Mastercard will also bring luxury and convenience for the cardholders by offering a range of benefits and discounts through Mastercard’s wide network of over 3,000 partner outlets in the country and globally. In addition to promotional offers like BOGO [Buy-1-Get-1] at top hotels in the country and International Lounge access offer through LoungeKey, Dhaka Bank Limited and Mastercard will be offering exclusive Discounts & EMI at dining, lifestyle and electronic outlets throughout the country.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/dhaka-bank-launches-contactless-mastercard-titanium-credit-card-1567444644

ADB will provide Risk Guarantee Assistance for issuing Green Bond

The Asian Development Bank [ADB] has come up with risk guarantee assistance for issuance of Green Bond in Bangladesh to help mobilize funds from abroad, officials have said. Before that the government has decided to carry out a feasibility study to see the pros and cons of issuing the bond with ADB’s technical assistance. Both the ADB and the government have agreed that Bangladesh needs to mobilize a large volume of foreign fund to finance the ongoing development activities. Formation of a long term loan market by issuing bonds and long term securities through capital market is now needed as an alternative to loans from the Banking sector. Mobilizing fund through issuing corporate bonds will, in one side, help bring stability in the capital market and, on the other side, help reduce risk of liquidity management of Banks.

Source: http://today.thefinancialexpress.com.bd/trade-market/adb-will-provide-risk-guarantee-assistance-for-issuing-green-bond-1567443962

Remittance climbs on Cash Incentive

Remittance increased about 5 percent year-on-year to $1.48 billion in August due to a recent government move to extend incentives to expatriates for sending money home through the legal channel. Last month’s inflows though are 6.92 percent lower than July’s receipts, according to data from Bangladesh Bank. The country celebrated Eid-ul-Azha, one of the largest religious festivals in the Muslim-majority nation, on August 12, so July’s receipts were higher. Remittance inflows dropping in the following days after Eid is a regular phenomenon. In the current budget, the government introduced a 2 percent cash subsidy for remitters to encourage them to send money home through the legal channel. Remittance will get more momentum in the months ahead because of the latest initiative, which will help the government to mitigate crisis derived from balance of payments.

Source: https://www.thedailystar.net/business/news/remittance-climbs-cash-incentive-1794730

Shimanto Bank thrusts on Rural Banking, Entrepreneurship ethos

Shimanto Bank Limited has planned to develop a new rural Banking model aiming to bring unbanked people particularly from rural areas of Bangladesh into the Banking network. They are now working to introduce a farmers-friendly rural Banking model to provide services with lower charges to the teeming people of rural areas. The Bank will formally announce the model shortly. The Private Commercial Bank [PCB] also prefers progressive Banking instead of aggressive one to ensure its sustainable financial growth in the coming years. This is not proper time for aggressive Banking mainly due to presence of higher non-performing loans [NPLs] in the country’s Banking system,” the senior Banker explained. The Bank has already emphasized on financing in Micro, Small and Medium Enterprises [MSMEs] to help creating employment opportunities through developing entrepreneurship across the country.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/shimanto-Bank-puts-thrust-on-rural-Banking-entrepreneurship-ethos-1567444769

HC stays Auction of Oxford Development’s Property

The High Court on Monday stayed for three months the auction of mortgaged property of Oxford Development Ltd. by the National Housing Finance and Investment Limited, a Non-Banking Financial Institution [NBFI]. The auction process was scheduled to be held on the day as per Section 12 of the Artha Rin Adalat Ain, 2003. The High Court bench of Justice M. Enayetur Rahim and Justice Md. Khairul Alam passed the stay order after a hearing on two separate writ petitions filed by Managing Director of Oxford Development Ltd. Md Akbar Hossain Arif. The Oxford Development received Tk 17 million in loans from the National Housing Finance and Investment Limited in 2013 and 2014. But the institution failed to pay the dues in time. The court also issued a rule asking the respondents to explain in four weeks as to why the auction process initiated by the National Housing Finance and Investment Limited should not be declared illegal.

Source: http://today.thefinancialexpress.com.bd/trade-market/hc-stays-auction-of-oxford-developments-property-1567444075

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
FTSE1007,281.94 ↑74.76 ↑1.04%
Nikkei 225 20,634.48↑14.29↑0.07%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 54.91 ↓ 0.18↓ 0.33%
Crude Oil (Brent)$ 58.72↑ 0.06↑ 0.10%
Gold Spot$ 1,524.21 ↓ 5.08↓ 0.33%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 83.1451
GBP 1BDT 100.586
EUR 1BDT 91.2482
INR 1BDT 1.15498





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