News Briefs (07-08-2019)

Investors 'should not stage demonstrations'

The country's premier bourse has urged investors to refrain from staging demonstrations following the price fall of listed securities as ups and downs of the capital market are common 'phenomenon' across the world. It has also requested 'some' media to play market supportive role by publishing 'fact' based reports regarding ups and downs of the capital market. The Dhaka Stock Exchange (DSE) made the plea on Tuesday through a statement issued in line with the decision of DSE' board of directors. The DSE's statement came in the wake of demonstrations staged recently by 'some' investors following frequent plunges in the capital market. "A little number of investors has been staging demonstrations with banners, festoons and play cards as a trend of marginal correction continued in the market," the DSE said in its statement. It said the image of the capital market is being tarnished at home and abroad due to such type of demonstrations despite the ups and downs are the natures of the market.— FE Report

BRAC Bank to provide solutions to Renata

BRAC Bank Limited is poised to deploy its real time online Branch Network and Agent Banking channel to provide seamless cash collection service to Renata Limited. This is for the first time the Bank is ready to deploy its Agent Banking channel in nationwide cash collection. Leveraging on its digital BRAC Agent Banking, BRAC Bank will be able to offer cash management service beyond the banking hours 365 days a year. This came as BRAC Bank's Head of Corporate Banking Tareq Refat Ullah Khan and Chief Financial Officer, Renata Limited Khokan Chandra Das signed the agreement on behalf of their respective organisations at a ceremony at the corporate office of Renata Limited in Dhaka recently. Commenting on the agreement, Tareq Refat Ullah Khan said: "This is for the first time we are utilizing our Agent Banking channel in cash management service. Agent Banking adds new dimension to our cash management solutions and enable us to serve the client even beyond stipulated banking hours. BRAC Bank will collect cash from the clients of Renata Limited as a collection bank across the country. It will help Renata bring more efficiency in cash collection across the country." — Statement