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 30, 2018

Family debt lowest in 14 years: Global study

The country’s household debt as percentage of gross domestic product (GDP) has been shrinking over the years from its peak in 2005. The household debt means the purchase of residential property and cars. The household debt, which was 5.1 per cent of the GDP in 2005, fell to 4.1 in 2010. It further decelerated to 3.5 per cent in 2015. The percentage dipped to 3.3 per cent in 2018, lowest in 14 years, according to data prepared by the Institute of International Finance (IIF), a Washington-based organisation. The IIF is the global association of the financial industry, with close to 450 members from 70 countries. According to a study of the Bangladesh Institute of Bank Management (BIBM), more than 80 per cent of the bank finances are concentrated in urban areas. This contraction in percentage is true, but in absolute value this is rising at slow pace compared to the economic expansion.

Source: http://today.thefinancialexpress.com.bd/first-page/family-debt-lowest-in-14-years-global-study-1538239091

Savings tools once again trump bank products

Savers have started to flock back to savings instruments with net sales hitting a six-month high in July as bank deposit products continue to yield underwhelming returns. Net sales of savings instruments stood at Tk 5,036 crore in July, the highest since February, according to the latest data of the Directorate of National Savings Certificates. In January, net investment in the tools stood at Tk 5,140 crore, after which it ranged between Tk 3,100 crore and Tk 4,200 crore. Some banks, however, have set the interest rate as high as 8 percent on their fixed deposit schemes, going back on their promise because of an acute liquidity crunch. In contrast, the interest rate on savings certificates ranges from 11.04 percent to 11.76 percent. The Bangladesh Association of Banks (BAB), a forum of bank directors, had taken a decision to lower the interest rate on savings and lending to 6 percent and 9 percent respectively from July 1, which lured savers to park their funds with government tools. In 2017-18, the government borrowed only Tk 5,666 crore from the banking sector by way of treasury bills and bonds against the annual target of Tk 28,203 crore. The rate of interest on bank borrowings is between 3.10 percent and 8.09 percent. On the other hand, the net sales of savings certificates stood at Tk 46,758 crore last fiscal year against the annual target of Tk 44,000 crore.

Source: https://www.thedailystar.net/business/banking/news/savings-tools-once-again-trump-bank-products-1637815

Spreading agent banking throughout the country

Agent banking is the form of banking that includes limited scale of banking and financial service through persons or agents under a valid agency agreement across the country, especially in remote areas. An agent is a third-party owner of an outlet who conducts banking transactions, such as cash deposit, cash withdrawal, account opening, account inquiries, small-amount loan disbursement, loan recovery, fund transfer, and paying bills under the government safety net programmes on behalf of a bank. Agent banking became popular at the very beginning of operation of the business. The services of agent banks were welcomed by the people, particularly by those who earlier were unbanked. The number of accounts increased to 12,14,367 with deposits of about Tk 13.99 billion (1399.39 crore) at the end of December 2017. At the end of June 2018, the agent banking deposit stood at about Tk 20.12 billion (2012.77 crore) while the number of accounts increased to 17,77,400. There are more than 87,000 villages in the country and the total number of bank branches of all 57 banks are 10,000, most of which are located at district and upazila level. Agent banking should be spread to all the villages. About 86 per cent of total market share of agent banking is held by two banks, namely Bank Asia Limited and Dutch Bangla Bank Limited. If all the banks participated in agent banking proactively, banking system as such would have spread to grassroots people throughout the country. Bangladesh Bank should formulate specific policies in this regard.

Source: http://today.thefinancialexpress.com.bd/views-reviews/spreading-agent-banking-throughout-the-country-1538234108

Dhaka Bank launches contactless cards

Dhaka Bank Ltd. has launched a full range of contactless cards with embedded EMV Chip technology with Visa. With this, the bank has embarked on the journey of bringing latest technology of card-based payments in the country. The bank brings Visa signature, platinum and gold credit cards which would bring more speed, convenience and security in everyday payments.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/dhaka-bank-launches-contactless-cards-1538234887

CSE holds investors’ awareness programme

The Chittagong Stock Exchange (CSE) organised a seminar on investors’ awareness, financial literacy and internet trading recently in Cumilla, as part of its plan to ‘promote’ capital market. The seminar was to enlighten investors’ knowledge about the capital market and enhance their expertise in digital trading.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/dhaka-bank-launches-contactless-cards-1538234887

Plant opens in Savar to make pharma equipment

Swiss Biohygienic Equipment (SBE), a joint venture among Bioengineering Switzerland, AMS Technology Germany and Incepta Pharmaceuticals Bangladesh, yesterday opened a plant in Savar to produce hygienic process systems for the pharmaceuticals sector. The 33,000-square feet electro polishing plant will manufacture instruments that are needed to produce pharmaceuticals, Mosaddeque Mahmud Rizwan, managing director of SBE. The plant will also produce pressure vessel, manufacturing vessel and storage vessel for the pharma sector, according to the SBE officials. These vessels are made up of stainless steel to process sterile and non-sterile liquids for the pharmaceuticals sector.

Source: https://www.thedailystar.net/business/news/plant-opens-savar-make-pharma-equipment-1640572

Flying on one engine, global growth exposed to turbulence

With growth in many European, Asian and emerging markets mostly uninspiring, the United States is increasingly the main motor behind the global economy. The world’s biggest economy is under scrutiny, however, as its current upturn is running on borrowed time coming the fiscal stimulus of debt-financed tax cuts. When the downturn in the US economy starts, the effects (on share prices, interest rates, capital flows, emerging countries, exchange rates, global trade and global growth) will be very pronounced. This fiscally induced expansion will be difficult to sustain in the absence of a much more substantial jump in investment to lift the economy’s growth potential. Wages will be in focus with another strong month-on-month rise likely. We probably won’t get a break above 3 per cent year-on-year growth this month, but we certainly expect it next month. Italy’s EU partners will have to figure out quickly whether to come out hard against the decision of Rome’s populist-led government to flout its previous EU fiscal commitments.

Source: http://today.thefinancialexpress.com.bd/views-reviews/developing-skilled-workforce-for-energy-and-power-sector-1538234027

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DSEX 5390.85074 ↓49.73 ↓0.11%
DJIA26,458.31↑18.38 ↑0.07%
FTSE1007,510.20 ↓35.24↓0.47%
Nikkei 22524,120.04↑323.30↑1.36%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 73.25 ↑1.13↑1.57%
Crude Oil (Brent)$ 82.73↑1.35↑1.66%
Gold Spot$1,190.88↑8.05↑0.68%

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 83.9685
GBP 1BDT 109.4194
EUR 1BDT 97.4370
INR 1BDT 1.1583





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