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 26, 2019

Bangladesh to attain Highest Growth in Asia

The Bangladesh Economy will grow at 8 percent this fiscal year, which would be the highest in Asia, as per the latest forecast of the Asian Development Bank. The forecast is close to the government target of 8.2 percent growth in fiscal 2019-20. Last fiscal year, Bangladesh pulled off 8.13 percent GDP growth. The Manila-based multilateral lender disclosed the growth forecast while releasing its ‘Asian Development Outlook 2019 Update’ at its office in Dhaka yesterday. Buoyant exports, robust private consumption, higher remittance, accommodative monetary policy and ongoing reform to improve business climate and high infrastructure spending helped Bangladesh attain high growth. Buoyant exports, robust private consumption, higher remittance, accommodative monetary policy and ongoing reform to improve business climate and high infrastructure spending helped Bangladesh attain high growth. Private investment edged up to 23.4 percent in fiscal 2018-19 from 23.3 percent a year earlier. Public investment expanded from 8 percent to 8.2 percent and total investment contributed 2.8 percentage points to growth. Bangladesh should highly concentrate on export diversification and explore new markets such as Canada and Australia. Food imports continues to be lower, assuming a good harvest and revival of rice import duty. India will grow at 7.2 percent and Vietnam 6.7 percent, according to the Bank.

Source: https://www.thedailystar.net/business/news/bangladesh-clock-highest-growth-asia-year-1805548

Written-off Loans rise in Q2

Loans written off by Banks surged 21 percent to Tk 54,463 crore in the second quarter of the year from a quarter ago as the lenders try to clean up balance sheets and paint a rosy picture of their health. As much as Tk 674.38 crore was written-off between April and June, in contrast to Tk 557.30 crore a quarter ago, according to latest data from the Bangladesh Bank. The Central Bank has recently eased its write-off policy, which has encouraged Banks to tidy up the balance sheet artificially, according to Experts. BB revised the policy to allow Banks to write off default loans that have been languishing in the bad category for three years, down from five years previously. Furthermore, lenders do not have to file any case with money loan courts to write off delinquent loans worth Tk 2 lakh, up from Tk 50,000 previously. Banks have failed to recover 76 percent of the total written-off loans since January 2003 when the Central Bank introduced the policy. The write-off policy has become one of the pivotal avenues for Banks to show a lower volume of non-performing loans. The Central Bank has recently announced to provide liquidity support to the Banking sector, but it is not good for the economy as many lenders are already burdened with NPLs, according to the Former Governor.

Source: https://www.thedailystar.net/business/banking/news/written-loans-rise-q2-1805542

Stocks edge down after bumpy ride

Stocks ended marginally lower on Wednesday, extending the losing streak for the second straight session, as risk-averse investors continued their selling binge on large-cap shares. The market opened on negative note and the key index shed over 50 points in the first half of trading, but recovered most of the losses during the last half to end with nearly 7.0 points lower. DSEX, the prime index of the Dhaka Stock Exchange [DSE], went down by 6.98 points or 0.14 per cent to settle at 4951. Risk-averse investors continued their selling binge on large-cap stocks like Grameenphone, BATBC, Brac Bank, National Life Insurance and Islami Bank contributed 15 points index fall jointly, according to an Analyst. The Institutional Investors also followed cautious stance and are waiting for the Central Bank’s latest move about liquidity support to the Banks for boosting their investment in the country’s Capital Market. Telecommunication witnessed the highest loss of 0.85 per cent, followed by food 0.81 per cent, Banking 0.56 per cent and financial institutions 0.53 per cent.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/stocks-edge-down-after-bumpy-ride-1569423972

 Climate-friendly Tax Reform for BD boost GDP: Report

Tax reform – including putting price on carbon emission, abolishing subsidies on fossil fuel and using the revenue in infrastructure, social spending and green-tech in textile sectors – could help Bangladesh boost Gross Domestic Product [GDP], create new employment and protect environment, according to a latest report. The proposed measures could help adding US$6.9-$7.8 billion to GDP, while saving 18.5-19.9 mega tonnes of carbon and $405-$429 million in energy imports and create employment for 0.50 million by 2025. Cambridge Econometrics, a UK-based economics consultancy, has modelled the impacts of two preliminary scenarios-infrastructure and social in Bangladesh. These included putting a price on carbon emissions and abolishing fossil fuel subsidies, while using the revenues to invest in clean technologies, infrastructure and social spending.

 Source: http://today.thefinancialexpress.com.bd/stock-corporate/climate-friendly-tax-reform-could-help-bd-boost-gdp-report-1569425016

 Visa to launch QR Payments in BD

Visa, the global leader in digital payments technology, announced its plans to launch QR payments in Bangladesh, enabling consumers to link their credit, debit and prepaid cards to their mobile Banking apps to ‘scan and pay’ for their purchases, according to a statement. Visa is working with various Banks and partners across the country to enhance the acceptance of digital payments. The cardholders of these participating Banks can make payments through QR codes at merchant locations by using their Mobile Banking application. Consumers will soon be able to make QR payments at both retail stores and on e-commerce websites. Merchants can accept these payments by simply displaying a QR code in their stores or on their mobile phones.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/visa-to-launch-qr-payments-in-bd-1569424499

 Govt allows 500 tonnes of Hilsa Export to India

The government has allowed export of highest 500 tonnes of hilsa to India during Durga Puja. The commerce ministry took the decision yesterday as a gesture of goodwill, according to Md Abdul Latif Bakshi, the ministry’s public relations officer. Only one trader will get the chance to export Hilsa to India. The five-day Durga Puja is set to begin on October 4.

Source: https://www.thedailystar.net/business/export/news/govt-allows-500-tonnes-hilsa-export-india-1805530

Biman offers Discount on Intl, Domestic Routes

Biman Bangladesh Airlines is offering discount on five international and four domestic routes during the three-day 8th Asian Tourism Fair, that begins in the capital today [Thursday], reports BSS. The national flag carrier is offering 20 per cent discount on five international destinations – Singapore, Delhi, Bangkok, Kathmandu and Kolkata – while 10 per cent on four domestic routes – Cox’s Bazar, Saidpur, Rajshahi and Barishal. The discount will be offered only from the Biman pavilion at the fair, to be held at International Convention City, Bashundhara marking the World Tourism Day.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/biman-offers-discount-on-intl-domestic-routes-1569425099

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DSEX4951.73673↓ 6.98↓ 0.14%
↑ 162.94↑0.61%
FTSE1007,289.99↓ 1.44↓0.02%
Nikkei 225 22,069.28↑49.13 ↑0.22%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 56.51↑ 0.02↑ 0.04%
Crude Oil (Brent)$ 62.35 ↓ 0.04 ↓ 0.06%
Gold Spot$ 1,508.93↑ 4.88 ↑0.32%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 82.7822
GBP 1BDT 102.713
EUR 1BDT 90.8675
INR 1BDT 1.16636





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