United News of Bangladesh

Oil prices surged to their highest level in nearly two weeks on Monday amid escalating tensions in the US-Israel war on Iran. Brent crude, the global benchmark, jumped more than 3 percent to exceed $116 a barrel, reaching its highest level since March 19, when it briefly touched $119. The rise followed Iran’s warning that it is prepared for a US ground invasion. The speaker of Iran’s parliament said Tehran was awaiting US troops to “set them on fire” and “punish” their regional allies. The warning came as the conflict intensified over the weekend. Iranian-backed Houthi forces launched missiles at Israel for the first time in the war, while Israel expanded its invasion of southern Lebanon. Asian stock markets fell sharply in morning trading, with Japan’s Nikkei 225 and South Korea’s KOSPI both down more than 4 percent as of 1:30 GMT. Iran’s effective closure of the Strait of Hormuz in response to US-Israeli attacks has disrupted roughly one-fifth of global oil and liquified natural gas (LNG) supplies, sparking the world’s largest energy crisis in decades. Since the war began, oil prices have climbed nearly 60 percent, pushing fuel costs higher worldwide and prompting many countries to adopt emergency measures to conserve energy. Analysts warn that oil prices are likely to keep rising unless maritime traffic in the strait returns to normal levels. US President Donald Trump has threatened to “obliterate” Iran’s energy infrastructure if Tehran does not lift its blockade of the waterway by April 6. He extended his initial deadline by 10 days on Thursday and has proposed a 15-point plan to end the conflict, highlighting the possibility of progress in indirect talks mediated by Pakistan. “I do see a deal in Iran, yeah,” Trump told reporters on Air Force One late Sunday. “Could be soon.” Tehran, however, rejected Trump’s plan, proposing its own ceasefire terms, including war reparations and recognition of Iran’s control over the strait. Greg Newman, CEO of Onyx Capital Group, an oil derivatives trading firm, said consumers were only beginning to feel the full impact of the turmoil. “Physical oil moves around the world in loading cycles, and Europe has taken around three weeks to really start feeling the effects of the oil shortage,” Newman told Al Jazeera. “Brent is starting to reflect the reality, and we think it’s a steady rise from here towards $120 and beyond.” He added that the scale of the disruption had yet to be fully understood. “No one in the market has ever seen the outages we are now suffering from – physical premiums are the highest ever. There is still a sense that the macro world is not taking this seriously enough, but it is worse than anything that has come before it. The reality will come out in the economic numbers over the coming months.” While Iran has allowed a limited number of transits by vessels not aligned with the US or Israel, traffic remains far below pre-war levels. On Saturday, Pakistani Foreign Minister Ishaq Dar said Tehran had permitted 20 Pakistani-flagged vessels to pass the strait, describing it as a “meaningful step toward peace.” Malaysian Prime Minister Anwar Ibrahim also said last week that Iran had allowed Malaysian ships to transit the strait. According to maritime intelligence firm Windward, seven non-Iranian vessels passed the strait on Thursday, up from five on Wednesday and four on Tuesday. Before the war began on February 28, the strait averaged 120 daily transits. #From Al Jazeera

Bangladesh is planning to seek $2 billion in foreign assistance to counter economic pressures arising from domestic crises and the volatile situation in the Middle East.  The initiative aims to stabilize the country's Balance of Payments (BoP) through support from global lenders, including the International Monetary Fund (IMF). Governor of Bangladesh Bank, Md. Mostaqur Rahman, shared this strategic plan during an exchange meeting with senior economic journalists held on Sunday at the central bank’s headquarters in Motijheel. The Governor confirmed that discussions are underway to secure $2 billion to safeguard the economy. "We have already initiated talks with the IMF, and the Economic Relations Division (ERD) is exploring other potential sources," he stated. Highlighting the uncertainties in the Middle East, the Governor emphasized a policy of caution. "We are adopting a 'wait and watch' strategy to navigate the current geopolitical tensions," he noted. Governor Rahman outlined his administration's top three priorities: i) Strengthening food security and rural economy. ii) Supporting small and medium enterprises as the backbone of the economy. iii) Governor described closed factories as "national assets" and urged banks to assist in restarting them to boost employment without triggering inflation through new heavy investments. He maintained a firm stance on monetary policy, stating that reducing interest rates is currently not advisable as the central bank remains focused on controlling inflation. The Governor expressed satisfaction with the current foreign exchange reserves. Regarding remittances, central bank officials projected an increase of $2 billion to $2.5 billion by the end of this fiscal year compared to the previous one, despite the Middle East crisis. During the two-hour session, Deputy Governors Md Habibur Rahman and Nutun Nahar and the central bank spokesperson Arif Hossain Khan also presented in the event.  The governor addressed concerns about expatriate welfare and potential job losses abroad. He suggested that in times of crisis, migrants often send back their total savings, providing a short-term boost to reserves, though they acknowledged long-term risks if conflicts escalate. "Since the pandemic and the Russia-Ukraine war, it seems we must learn to move forward amidst such global challenges," Governor Rahman remarked, concluding the meeting with a commitment to maintaining market stability.

Indices fell at both the Dhaka and Chittagong stock exchanges on Sunday, the first trading day of the week, with most listed companies witnessing price declines. At the Dhaka Stock Exchange (DSE), the benchmark DSEX index dropped by 44 points, while the Shariah-based DSES lost 7 points and the blue-chip DS30 index declined by 21 points. Losers dominated the market: share prices fell for 250 companies against 114 gainers, while 30 remained unchanged. However, turnover increased compared to the previous session, with total transactions reaching Tk 646 crore, up from Tk 603 crore earlier. In the block market, shares worth Tk 32 crore from 44 companies were traded, with Al-Arafah Islami Bank PLC topping the list with transactions worth Tk 8.5 crore. Among individual issues, Bangladesh Autocars Limited emerged as the top gainer with nearly 10 percent price appreciation, while Prime Textile Spinning Mills Limited was the worst performer, losing around 7 percent. Meanwhile, the Chittagong Stock Exchange (CSE) also ended in the red after early gains failed to sustain. The overall CASPI index fell by 112 points at the close. Prices declined for most issues, with 98 companies posting losses, 82 advancing and 19 remaining unchanged. Total turnover at the port city bourse rose to Tk 32 crore from Tk 20 crore in the previous session. Among the top performers, Hamid Fabrics PLC gained nearly 10 percent, while Reliance Insurance PLC shed about 10 percent to become the worst loser.

Bangladesh Bank (BB) on Sunday issued a comprehensive ‘Cybersecurity Framework’ to safeguard the financial sector against increasingly sophisticated cyber threats. The new guidelines are mandatory for all scheduled banks, finance companies, Mobile Financial Service (MFS) providers, Payment Service Providers (PSP), and Payment System Operators (PSO) operating in the country. According to a circular issued by the Banking Regulation and Policy Department (BRPD), all relevant financial entities must ensure full compliance with the new framework by December 31, 2026. The central bank stated that the rapid expansion of digital platforms, online transactions, and cloud-based services has significantly increased the "attack surface" for cybercriminals. The framework aims to protect national financial stability, establish a minimum baseline for cyber resilience and governance, standardize the approach to detecting and responding to threats such as hacking, phishing, and ransomware and define clear roles and responsibilities for all relevant parties. Aligned with the international NIST standards, the framework is built around seven core functions: Preparation & Govern, Identify, Protect, Detect, Respond, Recovery, and Reporting. Under these functions, the framework mandates several critical measures, including: Mandatory CISO: Every organization must recruit a qualified Chief Information Security Officer (CISO) with industry-accepted certifications and provide them with a sufficient budget and human resources. Incident Reporting: For any critical cyber incident, organizations are now required to report to both internal and external stakeholders—including Bangladesh Bank and the BGD-CIRT—within 72 hours. Security Infrastructure: Banks must implement advanced solutions such as Security Information and Event Management (SIEM), Multi-Factor Authentication (MFA), and Web Application Firewalls (WAF). Data Protection: Strict protocols for data encryption, access control based on "least privilege," and regular audit log monitoring have been established. Oversight and Implementation The framework was developed by a technical committee headed by Debdulal Roy, Executive Director (ICT) of Bangladesh Bank, with contributions from various private and state-owned banks. Bangladesh Bank warned that these guidelines act as a "baseline" and that organizations should perform their own risk analysis to achieve higher maturity levels. The ICT Audit, Inspection, and Compliance Wing of the central bank will provide support to institutions during the implementation phase.

Bangladesh’s remittance inflows have maintained a powerful upward trajectory, recording US $3.33 billion in the first 28 days of March 2026, as expatriates increase transfers ahead of the Eid-ul-Fitr celebrations. Blessing on the remittance inflow, the gross foreign exchange reserve of Bangladesh increased to $33.99 billion, while, as per the IMF standard of BPM6, the reserves stood at $29.29 billion on March 29, 2026. According to the latest data from Bangladesh Bank (BB), this figure represents a 3.8 percent growth compared to the $3.2 billion received during the same period in March 2025. The current fiscal year, FY 2025-26, continues to set new records for the country. Cumulative remittance from July 2025 to March 28, 2026, has reached $25.78 billion. This marks a significant 18.8 percent increase over the $21.69 billion recorded during the corresponding period of the previous fiscal year FY 2024-25. Central bank officials attribute this surge to the government's 2.5 percent cash incentive on money sent through formal banking channels, which has successfully discouraged the use of the informal "hundi" system. The surge was particularly concentrated in the first half of the month. Expatriate workers sent home $2.20 billion in the first 14 days of March alone—a massive 35.7 percent jump compared to the $1.62 billion received during the same timeframe in 2025. Industry insiders noted that the flow remained steady between March 16 and March 23, with an additional $392 million entering the country. Non-resident Bangladeshis (NRBs) traditionally ramp up transfers during Ramadan to help families cover festival expenses, providing a seasonal boost to the economy. The steady growth in foreign currency is providing a critical lifeline to the nation’s foreign exchange reserves amidst global economic volatility. As of March 16, 2026, Bangladesh’s gross reserves stood at $34.22 billion, while net reserves as per IMF BPM-6 stood at $29.52 billion. Economists suggest that if this trend continues, the total remittance for FY 2025-26 could surpass previous annual records, further stabilizing the exchange rate of the Taka and easing pressure on the balance of payments.

Bangladesh Bank (BB) on Sunday issued a new guideline titled ‘Guidelines on Partner Network, Version 1.0 (2026)’ to ensure secure, seamless and efficient digital communication among financial institutions. In a circular, the central bank said it remains electronically connected with various licensed entities including scheduled banks, non-bank financial institutions, mobile financial service providers, payment service providers and payment system operators to facilitate clearing, settlement and other financial services. Bangladesh Bank also maintains connectivity with different government agencies to deliver IT-enabled services to citizens. According to the guideline, information exchange between the central bank and participating institutions is conducted through an extranet-based ‘Partner Network’. “In the evolving technological and financial landscape, ensuring effective and secure digital communication has become increasingly critical,” BB said. The new policy aims to guarantee uninterrupted connectivity, efficient system operations and secure data exchange between Bangladesh Bank and its partner institutions. Under the guideline, all banks, financial institutions and other entities regulated or licensed by the central bank will be eligible to connect to Bangladesh Bank’s services subject to full compliance with the prescribed requirements. Partner Network Guidelines The ‘Guidelines on Partner Network’ set out a structured framework enabling organizations such as finance companies, MFSPs, PSPs, PSOs, WLAMA and other licensed financial service providers collectively termed as “the Organization”. Each organization is required to designate a dedicated team or focal entity to implement and monitor the extranet, while the central bank may flag any non-compliance. The guideline categorises organizations into two groups: Category-A, which must ensure both security and high availability with redundancy, and Category-B, which must ensure security and is encouraged to adopt high availability where feasible, with a pathway to upgrade to Category-A. It defines minimum control requirements to ensure baseline security standards and infrastructure readiness for connectivity with Bangladesh Bank, with strict provisions on network segregation, firewall zoning and monitoring of abnormal traffic within critical systems. Detailed controls have been outlined for change management, including documented processes, audit trails, rollback plans and mandatory testing before deployment, alongside strict access restrictions, prohibiting internet access in extranet zones and limiting access to authorised personnel only. The guideline also mandates robust remote connection security, including encryption, authentication, logging and restrictions on privileged access, while requiring VPN-based connectivity compliant with cryptographic standards. Organizations must ensure continuous monitoring, vulnerability assessments, patch management and secure configuration of devices, including disabling unused ports, filtering traffic and maintaining regular backups. It also prohibits the use of personal devices in the partner network and requires updated antivirus protection for all connected systems. Further, organizations must appoint trained focal persons, maintain proper documentation of network architecture and configurations, and follow Bangladesh Bank’s ICT security controls for monitoring and auditing. In case of incidents, entities are required to report service disruptions with detailed information on affected infrastructure, causes and impacts. The guideline also emphasises formal service level agreements and requires organizations to use approved, preferably redundant, network service providers with prior approval needed for any changes. The central bank instructed all concerned institutions to follow the guideline when conducting any activities related to the Partner Network. All relevant entities have been asked to ensure compliance with the guideline by December 31, 2026.

Runner Automobiles PLC has said the financial implications and investment size of its planned electric vehicle (EV) assembly partnership with BYD Auto Industry Company are still under evaluation, following a query from the Dhaka Stock Exchange (DSE). In a disclosure on Sunday, the company said the “Master Supply and Manufacturing Agreement” (MSMA) signed with BYD serves as a framework for a completely knocked down (CKD) manufacturing arrangement and is currently being used to assess overall investment feasibility, implementation timeline and projected financial outcomes. Responding to a DSE query, Runner Automobiles said detailed commercial, operational and financial parameters will be finalised through separate Technical License Agreements (TLAs) for each vehicle model. “The final investment size, financial projections and related outcomes are currently under evaluation and are subject to confirmation from both the supplier (BYD) and the Board of Directors,” the company said. It also noted that although the agreement was signed during a BYD conference in Shenzhen on March 20, 2025, it is still undergoing remaining legal formalities from BYD’s end, which are expected to be completed within five to six working days. The signed copy will be shared once received. Earlier, the company announced plans to assemble BYD electric vehicles locally, aiming to bring them to market within the next year. The board approved the agreement after reviewing the company’s current business situation, said Hafizur Rahman Khan, chairman of Runner Group. Runner Automobiles plans to set up a manufacturing facility in Bhaluka, Mymensingh, to assemble and paint EVs with technical support from BYD, enabling production localisation and cost reduction. The initiative is expected to open new opportunities in Bangladesh’s automotive sector through technology transfer and local manufacturing.

The website of retail chain Shwapno has been hacked with attackers releasing customers’ personal information online and demanding a large ransom from the company. The leaked data circulating across Facebook and various websites since Saturday reportedly includes names, phone numbers and purchase histories of customers who shopped at Shwapno in 2025. Shwapno Managing Director Sabbir Hasan said hackers had gained control of the company’s customer database last year and had been demanding $1.5 million since around August 2025 to restore access. The company did not comply with the demand. Urging caution, Shwapno advised customers to remain alert against potential phishing attempts and fraud. “We request customers not to share personal or financial information over calls or messages from unknown or suspicious numbers, and to avoid clicking on unverified links,” the company said, adding that it never asks for passwords or OTPs over phone calls. The company, a subsidiary of ACI PLC, said it is preparing to file a case and is working with local law enforcement, including the Counter Terrorism and Transnational Crime (CTTC) unit, as well as international forensic experts to address the breach.

Stocks showed a mixed trend in the country’s two bourses in the first hour of trading on Sunday, the first working day after a three-day holiday, with indices falling in Dhaka and rising in Chattogram. At the Dhaka Stock Exchange (DSE), the benchmark DSEX index shed 12 points in early trading. The other two indices also declined, with the Shariah-based DSES losing 1 point and the blue-chip DS30 dropping 11 points. Most listed companies saw price declines, as 167 issues lost value compared to 135 gainers, while 82 remained unchanged. Turnover on the DSE crossed Tk 150 crore within the first hour. Meanwhile, trading at the Chittagong Stock Exchange (CSE) witnessed a positive trend, with its overall CASPI index rising by 12 points. Gainers outnumbered losers at the CSE, where 40 issues advanced, 11 declined and 7 remained unchanged. The port city bourse recorded transactions worth over Tk 1.4 crore in the first hour of trading.

Uncertainty looms over 76 lakh depositors of the newly formed Sammilito Islami Bank as Bangladesh Bank (BB) remains indecisive regarding the withdrawal of the controversial "haircut" decision on investment profits. The Sammilito Islami Bank was recently formed through the merger of five Shariah-based lenders: Union Bank, First Security Islami Bank, Global Islami Bank, Social Islami Bank, and Exim Bank. Central bank-appointed administrators currently managing these banks have repeatedly urged the regulator to scrap the profit-slashing measure. They argue that without restoring full profit rates, it will be impossible to regain depositor confidence, which is vital for the bank's turnaround. The crisis has hit a vast number of individual depositors, including pensioners, who depend on these returns for their livelihoods. Initially, the authorities announced zero profit for all shareholders and depositors for the years 2024 and 2025. Following intense criticism, a revised decision allowed a 4 percent profit for individual depositors, while institutional depositors remained excluded from any returns. When contacted, a senior official of the relevant department at Bangladesh Bank told UNB on condition of anonymity that while discussions regarding the withdrawal of the "haircut" are ongoing, no final decision has been reached. BB Executive Director and Spokesperson Arif Hossain Khan echoed this, stating that the policy remains unchanged for now. Affected depositors have voiced strong opposition to the policy, which was initiated during the tenure of former Governor Dr. Ahsan H. Mansur. "We do not accept this decision. We can wait for our principal amount, but we will not tolerate the slashing of our earned profits," said one depositor. Industry insiders and officials from Exim Bank believe the institution could stabilize within three to four months if the "haircut" is revoked. They warned that the "trust deficit" created by this measure remains the single greatest obstacle to the bank’s recovery. Meanwhile, Governor Mostaqur Rahman has instructed the administrators to expedite the merger process, including IT integration. During a recent meeting at his office, the Governor emphasized that there is "no scope for backtracking" from the merger. Chairman of Sammilito Islami Bank Mohammad Ayub Mia resigns The Governor informed officials that the government has already provided Tk 20,000 crore in capital support to the new entity, while another Tk 12,000 crore is being disbursed to depositors through the Deposit Insurance Trust Fund. Governor Rahman further directed the administrators to strengthen loan recovery efforts and take initiatives to restart any shut-down factories that were funded by the five merged banks. He also assured that a Managing Director for the unified Sammilito Islami Bank would be appointed shortly.