United News of Bangladesh

The Customs House, Dhaka, will remain open on 24 and 25 October (Friday and Saturday) to ensure smooth continuation of import, export, and business operations during the post-disaster transitional period. According to an office order issued on Wednesday, all customs assessment teams under the jurisdiction of Customs House, including the Air Freight Unit and the Express Service Unit, will continue their regular activities on these days. The order further instructed all officials and employees concerned to be present at their respective offices on the specified dates and times to facilitate trade-related procedures. The decision has been taken in the public interest to keep essential economic and commercial activities uninterrupted, the order added. On October 18, a major fire broke out at the cargo-village section of Dhaka’s Hazrat Shahjalal International Airport, forcing all flight operations to be suspended for several hours. Cargo congestion has built up at the airport, with many import consignments stuck pending clearance and storage space severely constrained.

The Dhaka Stock Exchange (DSE) saw the lowest turnover in four months on Wednesday, with transactions falling to Tk 355 crore, despite a marginal rise in the key index. The last time DSE saw a lower transaction was on June 23, when shares and units worth Tk 276 crore were traded. Earlier this week, on Monday, the turnover stood at Tk 394 crore — the lowest in the ongoing 2025–26 fiscal year until today’s drop. The benchmark DSEX index gained 5 points at the end of the day’s trading, recovering slightly from an early fall. Of the other indices, the Shariah-based DSES remained unchanged, while the blue-chip DS30 advanced by 5 points. Prices declined for most of the traded issues as 178 companies saw losses against 145 gainers, while 74 remained unchanged. Most of the losing stocks belonged to the ‘B’ and ‘Z’ categories — companies that offer little or no dividends to investors. In contrast, most of the fundamentally strong ‘A’ category shares advanced, with 105 gaining, 81 declining, and 35 remaining unchanged. In the block market, shares of 20 companies worth Tk 9.60 crore were traded. City Insurance PLC topped the block transactions with shares worth Tk 2.90 crore. Aramit Limited emerged as the day’s top gainer with a nearly 10% rise, while FAS Finance & Investment Limited suffered the steepest loss, shedding over 9%. Meanwhile, the Chittagong Stock Exchange (CSE) ended lower, with its all-share price index, CASPI, losing 13 points. Most of the issues declined there as well — 93 lost, 72 gained, and 18 remained unchanged. The port city’s bourse recorded a turnover of Tk 12.28 crore, slightly higher than the previous session’s Tk 12.23 crore. Similar to the DSE, Aramit Limited topped the gainers’ list on the CSE with a 10% rise, while DBH First Mutual Fund was the worst performer, losing 10%.  

Bangladesh’s stock markets opened on Wednesday with a downtrend, as indices in both Dhaka and Chattogram exchanges declined in the first hour of trading amid price fall of most companies. At the Dhaka Stock Exchange (DSE), the key index DSEX dropped by 3 points, while the Shariah-based DSES slipped by 1 point. The blue-chip index DS-30, however, gained 1 point. Most issues traded on the DSE saw a decline in prices with 190 companies losing value, 106 gaining and 94 remaining unchanged. Shares and units worth over Tk 120 crore changed hands during the first hour of trading. A similar downward trend was observed at the Chittagong Stock Exchange (CSE), where the overall index fell by 29 points. At the port city bourse, the prices dropped for 52 companies, while 27 advanced and 13 remained unchanged. The turnover at the CSE stood at around Tk 1.5 crore during the first hour of trading.

Japan’s exports and imports both rose in September, driven by stronger trade with Asian markets even as U.S.-bound shipments declined under President Donald Trump’s tariff regime, government data showed Wednesday. According to Japan’s Ministry of Finance, exports increased 4.2% year-on-year last month, supported by a 9.2% jump in shipments to Asia. Exports to China, Japan’s largest trading partner, climbed 5.8%, while exports to the U.S. plunged 13.3% — marking the sixth consecutive month of decline. Auto exports to the U.S. were hit particularly hard, tumbling 24.2% in September. Japan’s automotive sector, led by manufacturers such as Toyota Motor Corp., remains a cornerstone of the national economy. Imports also edged up 3.3% overall, including a 6% rise in imports from Asia and a 9.8% increase in goods coming from China. The trade figures were released a day after Sanae Takaichi became Japan’s first female prime minister following a parliamentary vote. Known for her conservative stance and advocacy for higher public spending, Takaichi has pledged to boost wages and maintain an accommodative monetary policy to support economic growth. Japan’s Nikkei surges 4.5% after ruling party picks ultra-conservative leader Sanae Takaichi A weaker yen under such policies would benefit Japan’s major exporters by inflating overseas earnings when converted into domestic currency. However, Takaichi faces political challenges, as her ruling Liberal Democratic Party and its coalition partners lack a majority in both houses of parliament. President Donald Trump, who is scheduled to visit Japan later this month for talks with Takaichi, announced a new trade framework in July imposing a 15% tariff on Japanese goods — down from a previously proposed 25%. In return, Japan agreed to invest $550 billion in the U.S. and open its markets further to American cars and rice. Source: AP 

The Institute of Chartered Accountants of Bangladesh (ICAB) has strongly backed the proper and comprehensive implementation of International Financial Reporting Standard (IFRS) 9 to enhance transparency, strengthen financial stability, and restore public trust in the country's banking sector. The call came from industry experts and regulators at an ICAB-organized webinar titled "Implementing IFRS 9: Global Insights and Bangladesh Perspectives" on Tuesday. They stressed that effective IFRS 9 adoption requires robust technological resilience, reinforced governance, and significant investment in data infrastructure to ensure both compliance and long-term financial sustainability. Paradigm Shift for Bangladesh's Financial Sector Dr. Md. Kabir Ahmed, Deputy Governor of Bangladesh Bank and Chief Guest at the event, highlighted the transformative nature of IFRS 9 for an emerging economy like Bangladesh. "For an emerging economy like Bangladesh—with its dynamic and expanding financial sector—the implementation of IFRS 9 represents a paradigm shift," Dr. Ahmed stated. He said that the standard enables financial institutions to be better prepared for potential future losses and more resilient to economic shocks. ICAB President N K A Mobin FCA echoed this sentiment, emphasizing that adopting IFRSs is "not merely a technical compliance exercise" but a fundamental requirement for fostering international investor confidence. "As the core and most relevant professional accountancy body in Bangladesh, ICAB considers it a sovereign duty to lead the discourse, build capacity, and facilitate a smooth transition to these global benchmarks," Mobin said. He also stressed that effective implementation demands joint efforts from key regulators, including the Bangladesh Bank, the Bangladesh Securities and Exchange Commission (BSEC), and the Financial Reporting Council (FRC), as well as the preparers of financial statements. ICAB and FRC Sign MoU to strengthen financial statement verification with DVS Data gaps and weak models despite the clear benefits, experts at the webinar highlighted several critical challenges unique to the Bangladeshi context: While default data is often accessible, recovery data remains sparse. This data gap limits the discriminatory power of models and significantly slows down the implementation of IFRS 9, which governs the accounting for financial instruments, particularly expected credit losses (ECL). Forward-Looking Information: Many banks lack sufficient historical data to differentiate future economic scenarios or make reliable probability-weighted estimates for loss predictions. Rajith Perera, Partner at Ernst & Young and Risk Management Leader of the Institute of Chartered Accountants of Sri Lanka, noted that many banks lack strong models for estimating ECL, with validation exercises often revealing models that are not robust enough to produce accurate Probability of Default (PD) and Loss Given Default (LGD) estimates. Sk. Ashik Iqbal FCA, Partner at Nurul Faruk Hasan & Co., Chartered Accountants, described the shift from the old incurred loss model to the Expected Credit Loss (ECL) framework as a "survival test" for many banks. "Unlike large international institutions with decades of credit data, most Bangladeshi banks are implementing IFRS 9 with patchy information systems, limited modelling expertise, and intense regulatory oversight," Iqbal cautioned. He warned that weak models, inconsistent default definitions, or poorly designed scenarios could add confusion instead of clarity. Recommendations for Implementation To overcome these hurdles, industry professionals recommended a multi-dimensional approach focused on: Technology Investment: Investing in robust technology platforms to support automation, data integration, and real-time reporting. Governance Frameworks: Establishing strong governance frameworks and oversight mechanisms. Portfolio Review: Revisiting portfolio segmentation strategies to better align with risk profiles and regulatory requirements. Data Infrastructure: Strengthening data infrastructure to handle the increased granularity and frequency of reporting required by the new standard. The session was presided over by Muhammad Mehedi Hasan, Vice President-ICAB & Partner, Rahman Rahman Huq, Chartered Accountants.

The Bangladesh Securities and Exchange Commission (BSEC) on Tuesday took action against individuals and entities involved in irregular investments in the loss-making company formerly known as Padma Printers and Color Limited, now renamed Quest BDC Limited, resulting in huge investor losses. Presided over by BSEC Chairman Khondoker Rashed Maqsood, the 978th Commission meeting approved a series of punitive measures against former directors of Quest BDC Limited, LR Global Bangladesh Asset Management Company Limited and associated mutual funds for violations of securities laws, unethical collusion and mismanagement. The decisions followed an investigation into the acquisition of 51 percent of the company’s shares by six mutual funds managed by LR Global Bangladesh Asset Management Company Limited — NCCBL Mutual Fund-1, LR Global Bangladesh Mutual Fund One, AIBL First Islamic Mutual Fund, MBL First Mutual Fund, DBH First Mutual Fund and Green Delta Mutual Fund. The funds invested a total of Tk 68.64 crore in a company that had no ongoing business operations at the time, a negative net asset value (NAV) of Tk 2.74 per share, and retained losses of Tk 2.35 crore as of June 30, 2022. The BSEC noted multiple violations, including failure to disclose price-sensitive information, not holding an Extraordinary General Meeting (EGM), and issuing shares through private placement without proper lock-in. The company’s paid-up capital was also irregularly increased from Tk 1.60 crore to Tk 50 crore without prior shareholder approval. As a result, BSEC imposed Tk 1 crore fines each on six former directors of Quest BDC Limited representing the mutual funds. It also ordered the funds to recover the illegally invested money with interest within 30 days; failure to comply would result in additional fines of Tk 98 crore for LR Global Bangladesh CEO Reaz Islam, and Tk 1 crore each for directors George M. Stock III and Rezaur Rahman Sohag. Besides, the commission initiated the process to terminate LR Global Bangladesh Asset Management Company Limited as the asset manager of the six mutual funds to protect unit-holders’ interests. Bangladesh General Insurance Company Limited, serving as trustee of the funds, was fined Tk 3 crore for failing to oversee the investments. BSEC also imposed fines on Quest BDC Limited’s former chairman Rezaur Rahman Sohag (Tk 10 lakh) and Brigadier General Sharif Ahsan (Rtd) (Tk 1 lakh) for conflicts of interest and providing false information. Besides, the former BSEC chairman, Prof Shibli Rubaiyat-ul-Islam, and LR Global Bangladesh CEO Reaz Islam were permanently banned from participating in capital market activities due to unethical collusion in approving the irregular investments. The commission also referred the case to the Anti-Corruption Commission (ACC) for alleged money laundering involving Tk 24.95 crore invested by Quest BDC Limited in Thyrocare Bangladesh Limited following a manipulated share valuation conducted in collusion with City Bank Capital Resources Limited.

The upward momentum observed in the early trading hours at both the Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) did not last, as the DSE ended the day in the red while the CSE managed to sustain its gains. At the end of Tuesday’s trading session, DSEX, the key index of the DSE, dropped by 22 points. Among other indices, the Shariah-based DSES declined by 3 points, while the blue-chip DS30 inched up by 3 points. Most issues traded on the DSE ended lower, with prices falling for 241 companies against 80 gainers, while 72 remained unchanged. Prices dropped across all three categories — A, B, and Z — with the decline most prominent among the top-performing A-category companies. Of these, prices fell for 153 firms, while 33 advanced. DSEX nears 5,000-point mark amid continuous market fall In the block market, the shares of 31 companies worth Tk 9 crore changed hands, with Simtex Industries PLC leading the board by trading shares worth Tk 3 crore. The day’s total turnover at the DSE stood at Tk 478 crore, up from Tk 394 crore in the previous session. Meanwhile, the CSE’s overall index gained 20 points by the end of trading. Despite the rise in the index, most companies there also saw price declines, with 92 issues losing value against 84 gainers, while 29 remained unchanged. The turnover at the CSE fell to Tk 12 crore from Tk 16 crore the previous day. The Dacca Dyeing & Mfg. Co. Ltd. topped the gainers’ chart on the CSE with a 10 percent rise, while Apex Footwear Limited hit the bottom, losing over 21 percent.

Indices at both the Dhaka and Chattogram stock exchanges witnessed an upward trend in the first hour of trading on Tuesday, with most companies seeing price gains. During the first hour of trading, the key index of the Dhaka Stock Exchange (DSE), DSEX, rose by 40 points. The Shariah-based index, DSES, gained 13 points, while the blue-chip index, DS-30, advanced 19 points. Out of 272 issues traded so far, prices increased for 152, fell for 51, and remained unchanged for 69. DSEX nears 5,000-point mark amid continuous market fall The turnover on the DSE exceeded Tk 190 crore in the first hour. The Chittagong Stock Exchange (CSE) also saw an upward movement, as its overall index gained 60 points. Among 95 issues traded, prices rose for 57, declined for 25, and remained unchanged for 13. The CSE recorded a turnover of over Tk 2 crore in the first hour of trading.  

The Exporters Association of Bangladesh (EAB) on Monday said that the fire at the cargo village of Hazrat Shahjalal International Airport (HSIA) has caused an initial estimated loss of $1 billion to the country's export sector. EAB President Mohammad Hatem disclosed this estimate at a press conference on Monday (October 20) at a city hotel. He sought great security in key areas like cargo villages and export import ports to ensure the global buyers for shipment of goods in time. Shawkat Aziz Russell, president of Bangladesh Textile Mills Association, Dr Mohammad Zakir Hossain, vice president of Pharmaceutical and Medicine Industry Association and representatives of all sectors involved in export were present at the press conference. Fire at Shahjalal Airport destroys garment raw materials, business samples: BGMEA Hatem strongly criticised the authorities, stating that the incident points to a ‘total failure’ to ensure an effective fire detection and protection system in an infrastructure as vital as the cargo village. The EAB President emphasised that the total financial impact goes far beyond the value of the goods physically destroyed by the flames. "It is difficult to determine the total extent of the losses for exporters right now," Hatem said. “There was direct damage as products were burnt, but this is not the only loss. A much greater loss has occurred because finished goods, which were supposed to be produced from the burnt raw materials, cannot be exported," he added. BTMA President Russel said there is a deep conspiracy of destroying Bangladesh’s goodwill on the international level after settling a tariff deal with the USA. “Political and geopolitical players are working behind to destabilize the manufacturing and export sector of Bangladesh, because of their failure in international trade.” CAAB designates GSE Maintenance area for storing goods after cargo village fire He warned that the disruption will severely hamper import-export activities in the coming days, creating a risk of losing market position, erosion of buyer confidence and damaging international trade agreements. EPB President Hatem stressed that a full and transparent investigation is necessary to ascertain the accurate figure, but based on preliminary reports from members, the association believes the overall loss will be around $1 billion.   Hatem, also the president of BKMEA, highlighted the wide array of essential goods handled at the cargo village, making its security crucial for the entire national economy. Exporters of the readymade garment (RMG) industry use the village for urgent air shipments of light machinery, spare parts, raw materials, accessories and critical product samples. The pharmaceutical sector relies on the facility for importing raw materials and exporting highly sensitive medicines. Exporters of frozen food, agricultural produce, vegetables and fruits are also dependent on the village. DCCI voices deep concern over HSIA cargo village fire Hatem said the products could be completely ruined if not shipped on time, as they are highly sensitive. “International courier services also use the facility for handling vital documents and parcels.” Expressing deep concern over the recurring fire incidents across Bangladesh, Hatem said the recent blaze in an ultra-sensitive area like the airport's cargo section could have a major negative impact on the country's reputation. "It is a serious concern that foreign buyers may become anxious about the security of Bangladesh's export products upon hearing news of this fire, which could negatively affect the country's economy," he cautioned. Hatem questioned whether there would be accountability for the negligence, stating, "We believe it is urgent for the government to launch an immediate, transparent, and effective investigation to find the answers to these questions." Exporters scramble to assess losses after airport fire He pointed to a recent series of fires in just a few days, including incidents in Ashulia, Mirpur, Chattogram EPZ, and Incepta Pharmaceuticals, as a cause of ‘deep concern and insecurity’ among business entrepreneurs. Representatives from various member organizations of the EAB and importing firms were present at the press conference.  

The week’s second trading session began with a mixed performance on the country’s two stock exchanges as the Dhaka market opened higher while the Chattogram bourse witnessed a decline. In the first hour of trading on Monday, the key index of the Dhaka Stock Exchange (DSE), DSEX, advanced by 20 points. Among other indices, the Shariah-based DSES rose by 5 points and the blue-chip DS-30 gained 6 points. Most companies saw price increases, with 226 advancing, 90 declining, and 77 remaining unchanged. The turnover in the first half of the session stood at Tk 140 crore. DSEX nears 5,000-point mark amid continuous market fall Meanwhile, the Chittagong Stock Exchange (CSE) opened lower, with its overall index dropping by 78 points. The prices of most companies on the CSE were down, as 71 issues declined against 27 gainers, while 13 remained unchanged. The total turnover on the bourse exceeded Tk 4 crore.