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Odhikar's Fact Finding Report/5 and 6 May 2013/Hefazate Islam, Motijheel
Odhikar’s Fact Finding Report/5 and 6 May 2013/Hefazate Islam, Motijheel/Page-1 Summary of the incident Hefazate Islam Bangladesh, like any other non-political social and cultural organisation, claims to be a people’s platform to articulate the concerns of religious issues. According to the organisation, its aims are to take into consideration socio-economic, cultural, religious and political matters that affect values and practices of Islam. Moreover, protecting the rights of the Muslim people and promoting social dialogue to dispel prejudices that affect community harmony and relations are also their objectives. Instigated by some bloggers and activists that mobilised at the Shahbag movement, the organisation, since 19th February 2013, has been protesting against the vulgar, humiliating, insulting and provocative remarks in the social media sites and blogs against Islam, Allah and his Prophet Hazrat Mohammad (pbuh). In some cases the Prophet was portrayed as a pornographic character, which infuriated the people of all walks of life. There was a directive from the High Court to the government to take measures to prevent such blogs and defamatory comments, that not only provoke religious intolerance but jeopardise public order. This is an obligation of the government under Article 39 of the Constitution. Unfortunately the Government took no action on this. As a response to the Government’s inactions and its tacit support to the bloggers, Hefazate Islam came up with an elaborate 13 point demand and assembled peacefully to articulate their cause on 6th April 2013. Since then they have organised a series of meetings in different districts, peacefully and without any violence, despite provocations from the law enforcement agencies and armed Awami League activists. -
Capital Market Development in Bangladesh* January, 2021
Capital Market Development in Bangladesh* January, 2021 Research Department Bangladesh Bank *Prepared by Special Studies and Fiscal Affairs Division, Research Department, Bangladesh Bank (Central Bank of Bangladesh). Comments on any aspect on the report are highly welcomed and can be sent to the e-mail addresses: [email protected], [email protected] and [email protected] Capital Market Development in Bangladesh January, 2021 Capital market in Bangladesh consists of two full-fledged automated stock exchanges- the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE). Bangladesh Securities and Exchange Commission (BSEC), as the watchdog regulates the stock exchanges of the country. The analysis on capital market development gives some insights to understand overall activities of capital market in Bangladesh. At the end of January 2021, both Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) exhibited upward trend in terms of both index and turnover compared to the end of December 2020. Total turnover value of traded shares of DSE and CSE were BDT 339.59 billion and BDT 17.28 billion respectively at the end of January 2021 which were 57.30 percent and 88.18 percent higher respectively than that of December 2020. Broad index of DSE and all share price index of CSE rose to 5649.86 points and 16474.97 points respectively at the end of January 2021 which were 5402.07 points and 15592.92 points respectively at the end of December 2020. Table : Monthly Trends in Important Indicators of DSE and CSE (BDT -
Morning Briefings Monday, February 15, 2016
Morning Briefings Monday, February 15, 2016 MACRO Cos must go by 36 provisos to operate container ports Private entrepreneurs seeking to obtain customs bond licence for operating private inland water container terminal (IWCT) will have to comply with a multipronged set of guidelines, including one on adequate facilities for external trade. Officials said customs wing of the National Board of Revenue (NBR) recently issued the policy with the comprehensive guidelines with some 36 conditions binding private IWCT ventures. They said the policy was framed under 'The Customs Act 1969, section 12 and section 219 (B)'. Link: http://print.thefinancialexpress-bd.com/2016/02/15/134118 Financial management strategy in the offing A new public financial management strategy is in the final stages of making as attaining fiscal discipline and its transparency now comes into government policy focus. Officials said the strategies in vogue do not fit in government planning and priorities, leading to delay in execution of projects. The one now in the making is expected to help synchronise government planning, execution of budget and modern accounting to avoid abuse of public money. The finance division has already prepared the draft. It also organised a two- day national seminar in Habiganj that ended on February 13. Link: http://print.thefinancialexpress-bd.com/2016/02/15/134116 Spl fund to back mega projects in the offing The government, for the first time, is set to create a special fund to finance its mega projects for their smooth implementation, officials said. The Ministry of Finance (MoF) will sit today (Monday) to discuss the pros and cons of creating the proposed fund. -
Evidence from Dhaka Stock Exchange
View metadata, citation and similar papers at core.ac.uk brought to you by CORE provided by International Institute for Science, Technology and Education (IISTE): E-Journals Research Journal of Finance and Accounting www.iiste.org ISSN 2222-1697 (Paper) ISSN 2222-2847 (Online) Vol 3, No 2, 2012 Cash Dividend Announcement Effect: Evidence from Dhaka Stock Exchange Md. Shehub Bin Hasan 1* Sabrina Akhter 2 Hussain Ahmed Enamul Huda 2 1. School of Business, Ahsanullah University of Science & Technology, 141-142 Love Road, Tejgaon Industrial Area, Tejgaon, Dhaka-1208, Bangladesh 2. Faculty of Business & Economics, Daffodil International University, 4/2, Sobhanbagh, Prince Plaza, Mirpur Road, Dhaka-1207, Bangladesh * E-mail of the corresponding author: [email protected] Abstract The sole motive of the paper is to investigate cash dividend announcement effect of the stocks traded in the Dhaka Stock Exchange from 2006 to 2010. Classic event study methodology was used to analyze the data. It was found that in 2006, 2007 and 2009 market has reacted over the announcement in the event date. Some sectors like Food & Auxiliary, Fuel and Miscellaneous have impacted the market both in the event and post event date across the years considered. All the efforts were given to discover reaction therefore the underlying reasoning of such impact are set aside. Keywords: Cash dividend, Dhaka stock exchange, Event study, Announcement effect 1. Introduction Securities, to be more specific stocks are not traded in a vacuum, rather amidst the complex interaction of many variables – some explainable and some not manageable. Thousands, perhaps even more variables can exert influence over stock price and dividend isthe prime variable. -
Capital Market Deregulation, Stock Returns and Volatility In
Market Efficiency, Time-Varying Volatility and Equity Returns in Bangladesh Stock Market M. Kabir Hassan, Ph.D. University of New Orleans Anisul M. Islam, Ph.D. University of Houston-Downtown Syed Abul Basher York University Contact Author M. Kabir Hassan, Ph.D. Associate Professor of Finance Associate Chair Department of Economics and Finance University of New Orleans New Orleans, LA 70148 Phone: 504-280-6163 Fax: 504-280-6397 Email: [email protected] First Draft: December 1999 Second Draft: February, 2000 Third Draft: May, 2000 This Draft: June, 2000 Market Efficiency, Time-Varying Volatility and Equity Returns in Bangladesh Stock Market Abstract This paper empirically examines the issue of market efficiency and time-varying risk return relationship for Bangladesh, an emerging equity market in South Asia. The study utilizes a unique data set of daily stock prices and returns compiled by the authors which was not utilized in any previous study. The Dhaka Stock Exchange (DSE) equity returns show positive skewness, excess kurtosis and deviation from normality. The returns display significant serial correlation, implying stock market inefficiency. The results also show a significant relationship between conditional volatility and the stock returns, but the risk-return parameter is negative and statistically significant. While this result is not consistent with the portfolio theory, it is possible theoretically in emerging markets as investors may not demand higher risk premia if they are better able to bear risk at times of particular volatility (Glosten, Jagannathan and Runkle, 1993). While circuit breaker overall did not have any impact on stock volatility, the imposition of the lock-in period has contributed to the price discovery mechanism by reverting an overall negative risk- return time-varying relationship into a positive one. -
Progress Report on Tranche Release Bangladesh: Third Capital Market
Progress Report on Tranche Release Project Number: 45253–002 Loan Number: 3318/3319 January 2020 Bangladesh: Third Capital Market Development Program (Second Tranche) Distribution of this document is restricted until it has been approved by the Board of Directors. Following such approval, ADB will disclose the document to the public in accordance with ADB’s Access to Information Policy. CURRENCY EQUIVALENTS (as of 06 January 2020) Currency unit – taka (Tk) Tk1.00 = $0.01179 $1.00 = Tk84.780 ABBREVIATIONS ADB – Asian Development Bank BSEC – Bangladesh Securities and Exchange Commission CCP – central counterparty CDMC – Cash and Debt Management Committee CMDP – Capital Market Development Program CMT – Capital Market Tribunal CSE – Chittagong Stock Exchange DSE – Dhaka Stock Exchange FRC – Financial Reporting Council FRTB – floating rate treasury bond GDP – gross domestic product IAD – Internal Audit Department ICT – information and communication technology IDRA – Insurance Development and Regulatory Authority IPO – initial public offering NSC – national saving certificate TA – technical assistance NOTE (i) The fiscal year (FY) of the Government of Bangladesh and its agencies ends on 30 June. “FY” before a calendar year denotes the year in which the fiscal year ends, e.g., FY2019 ended on 30 June 2019. (ii) In this report, “$” refers to United States dollars. Vice-President Shixin Chen, Operations 1 Director General Hun Kim, South Asia Department (SARD) Director Takeo Konishi, Public Management, Financial Sector and Trade Division, SARD -
Empirical Evidence from Dhaka Stock Exchange
The Impacts of Interest Rate on Stock Market: Empirical Evidence from Dhaka Stock Exchange Md. Gazi Salah Uddin Lecturer School of Business Presidency University Dhaka, Bangladesh Email: [email protected] Md. Mahmudul Alam Officer, Operational Analysis Customer Relationship Management (CRM) Brands, Commercial Division Grameenphone Ltd. Dhaka, Bangladesh Email: [email protected] Citation Reference: Uddin, M.G.S., and Alam, M.M. 2010. The Impacts of Interest Rate on Stock Market: Empirical Evidence from Dhaka Stock Exchange, South Asian Journal of Management Sciences, Vol. 4(1), pp. 21-30. (online) http://sajms.iurc.edu.pk//paper.php?id=Spring2010V4N1P2 (ISSN 2074-2967; Publisher- Iqra University, Karachi, Pakistan) This is a pre-publication copy. The published article is copyrighted by the publisher of the journal. 0 The Impacts of Interest Rate on Stock Market: Empirical Evidence from Dhaka Stock Exchange Abstract Stock exchange and interest rate are two crucial factor of economic growth of a country. The impacts of interest rate on stock exchange provide important implications for monitory policy, risk management practices, financial securities valuation and government policy towards financial markets. This study seeks evidence supporting the existence of market efficiency on the Dhaka Stock Exchange (DSE) based on the daily general price index 1994 to 2005 and also shows empirical relationship between stock index and interest rate in Bangladesh based on monthly data from May 1992 to June 2004. Stationary of market return is tested and found DSE Index does not follow random walk model indicate DSE is not efficient in week form. The linear relationship between share price and interest rate, share price and growth of interest rate, growth of share price and interest rate, and growth of share price and growth of interest rate were determined through ordinary least-square (OLS) regression. -
Dhaka Stock Exchange Ltd. Transforms It Infrastructure with Vmware’S Virtualized Solutions to the Delight of Brokers and Investors
CUSTOMER CASE STUDY DHAKA STOCK EXCHANGE LTD. TRANSFORMS IT INFRASTRUCTURE WITH VMWARE’S VIRTUALIZED SOLUTIONS TO THE DELIGHT OF BROKERS AND INVESTORS VMware’s virtualization solutions have transformed Bangladesh’s Dhaka Stock Exchange Ltd. (DSE) into a highly efficient bourse, enabling it to roll out new applications to its 250 stock brokers much faster than before while minimizing downtime. Its virtualized infrastructure has also helped optimize resources, improve capacity planning, pre-empt and better plan network needs thereby lowering operational costs. Critical to the development and progress of Bangladesh’s economy, the modernization of DSE’s infrastructure ensured its reliability and scalability to support the country’s growth. Customer Profile INDUSTRY As the premier exchange of Bangladesh, DSE runs a fault-tolerant, automated FINANCIAL SERVICES trading system for transparent and highly efficient trading of securities. As of 2014, DSE facilitates the trading of 546 securities worth about US$41.6 billion. LOCATION In its 60-year history, DSE has contributed significantly to the Bangladesh BANGLADESH economy by providing a platform for companies to raise funds from the public. KEY CHALLENGES It is now in the relentless process of modernizing and upgrading its systems • Pressure to deliver applications for and facilities to take advantage of new technologies. brokers in a timely manner • Need to enhance operational The Challenge efficiency and data security With the growth in trading volume and speed over recent years alongside • Managing IT resources and Bangladesh’s progress, DSE has faced challenges in ensuring its IT identifying bottlenecks infrastructure - powered by 250 physical servers and used by brokers to execute trades - was constantly online and available. -
Independent Auditor's Report and Audited Consolidated & Separate Financial Statements for the Year Ended 31 December 2016
Dhaka Bank Limited and its subsidiaries Independent Auditor's Report and Audited Consolidated & Separate Financial Statements For the year ended 31 December 2016 BDBL Bhaban (Level -13 & 14), 12 Kawran Bazar Commercial Area, Dhaka - 1215, Bangladesh. ACNABIN Cbartered Accowntants BDBL Bhaban (Level-13 & 14) Telephone: (88 02) 81.44347 ro 52 1.2 Kawran Bazar Commercial Area (88 02) 8189428 to 29 Dhaka-121.5, Bangladesh. Facsimile: (88 02) 8144353 e-mail: <[email protected]> Web: www.acnabin.com INDEPENDENT AUDITOR'S REPORT TO THE SHAREHOLDERS OF DHAKA BANK LIMITED Report on the Financial Statements We have audited the accompanying consolidated financial statements of Dhaka Bank Limited and its subsidiaries namely Dhaka Bank Securities Limited and Dhaka Bank Investment Limited ("the Group") as well as the separate financial statements of Dhaka Bank Limited ("the Bank"), which comprise the consolidated balance sheet of the Group and the separate balance sheet as at 31" December 2016 and the consolidated and separate profit and loss accounts, consolidated and separate statements of changes in equity and consolidated and separate cash flow statements for the year then ended and a summary of significant accounting policies and other explanatory information. Management's Responsibility for the Financial Statements and Internal Controls Management is responsible for the preparation of consolidated financial statements of the Group and also the separate financial statements of the Bank that give a true and fair view in accordance with Bangladesh -
Policy Analysis Unit* (PAU)
Policy Analysis Unit* (PAU) Policy Note Series: PN 0703 Recent Experiences in the Foreign Exchange and Money Markets Md. Habibur Rahman, Ph. D Shubhasish Barua Policy Analysis Unit Research Department Bangladesh Bank September 2006 Copyright © 2006 by Bangladesh Bank * The Bangladesh Bank (BB), in cooperation with the World Bank Institute (WBI), has formed the Policy Analysis Unit (PAU) within its Research Department in July 2005. The aim behind this initiative is to upgrade the capacity for research and policy analysis at BB. As part of its mandate PAU will prepare and publish, among other, several Policy Notes on macroeconomic issues every quarter. The precise topics of these Notes are chosen by the Resident Economic Adviser in consultation with the senior management of the Bangladesh Bank. These papers are primarily intended as background documents for the policy guidance of the senior management of BB. Neither the Board of Directors nor the management of the Bangladesh Bank, nor WBI, nor any agency of the Government of Bangladesh or the World Bank Group necessarily endorses any or all of the views expressed in these papers. The latter reflect the judgment based on professional analysis carried out by the staff of the Policy Analysis Unit, and hence the usual caveat as to the veracity of research reports applies. [An electronic version of this paper is available at www.bangladeshbank.org.bd] i Recent Experiences in the Foreign Exchange and Money Markets Md. Habibur Rahman, Ph. D∗ and Shubhasish Barua∗ September 2006 Abstract Over the last two fiscal years both the foreign exchange and the money markets in Bangladesh experienced notable volatility, which resulted in substantial depreciation of BDT against major currencies and a temporary rise in the interest rate in the money market. -
Important News Snippets Jun 18, 2020 [email protected]
Important News Snippets Jun 18, 2020 [email protected] Following is a summary of important business news published in the leading daily newspapers of Bangladesh. For the complete news, please follow the online link given below each news. Please note that the news summary doesn’t reflect the opinion of BRAC EPL Stock Brokerage Limited. Bangladesh Bank (BB) blames banks’ misrepresentation of trade policy amid Foreign Direct Investment (FDI) fall ■ The Bangladesh Bank on Wednesday blamed authorised dealer banks for misrepresenting the country’s trade policy and putting Bangladesh’s economy at stake even after adoption of a liberal trade policy in the 1990s. A BB circular issued by its executive director Mohd Humayun Kabir on the day raised the allegation at a time when many global businesses were exploring their options to shift their manufacturing units elsewhere from China amid the mounting US- China trade war. Besides, the 56.0% fall in foreign direct investments last year could be another reason behind issuing the BB circular. The country’s FDI inflow dropped to USD 1.6 billion in 2019 from USD 3.6 billion in the previous year. ■ According to an official of the central bank said that the banks were mostly unaware of the government’s policy on foreign direct investment attraction which was why many of the banks, dealing with foreign customers, failed to provide them with the required guidelines. As a result, many potential clients got the wrong idea about the country’s liberal trade policy, prompting the central bank to come up with the circular. -
Banking Sector Performance, Regulation and Bank Supervision
Chapter-5 Banking Sector Performance, Regulation and Bank Supervision 5.1 Bangladesh Bank (BB) continued to measures initiated by BB for banks and financial focus on strengthening the financial system and institutions and also the industry statistics of the improving functioning of the various segments. banking sector and the performances trends. The broad parameters of the reforms undertaken during the year comprised ongoing A. Banking Sector Performance deregulation of the operation of institutions within the BB's regulatory ambit, tightening of 5.2 The banking sector of Bangladesh prudential regulation and improvement in comprises of four categories of scheduled supervisory oversight, expanding transparency banks. These are state-owned commercial and market disclosure, all with a view to banks (SCBs), state-owned development improving overall efficiency and stability of the finance institutions (DFIs), private commercial financial system. The following paragraphs banks (PCBs) and foreign commercial banks highlight the recent regulatory and supervisory (FCBs). The number of banks remained Table 5.1 Banking system structure (billion Taka) 2006 2007 Bank Number Number of Total %of Deposits % of Number Number of Total %of Deposits % of types of banks branches assets industry deposits of banks branches assets industry deposits assets assets SCBs 4 3384 786.7 32.7 654.1 35.2 4 3383 917.9 33.1 699.7 32.6 DFIs 5 1354 187.2 7.8 100.2 5.4 5 1359 201.7 7.3 115.6 5.4 PCBs 30 1776 1147.8 47.7 955.5 51.3 30 1922 1426.6 51.4 1150.2 53.5 FCBs 09 48 284.9 11.8 150.8 8.1 09 53 227.7 8.2 183.4 8.5 Total 48 6562 2406.7 100.0 1860.6 100.0 48 6717 2773.9 100.0 2148.9 100.0 unchanged at 48 in 2007.