United News of Bangladesh

Bangladesh Bank (BB) has formed a new Tk 10,000 crore refinancing scheme from its own funds to boost agricultural production, ensure food security, and create employment opportunities in rural areas. Under the five-year scheme, farmers will be able to access low-interest loans capped at an 8 percent interest rate. Bangladesh Bank buys $85 million in a single day to maintain exchange rate stability The Agricultural Credit Department of the central bank issued a circular in this regard last night (Monday night), sending it to the chief executives of all scheduled banks.  The initiative aims to financially empower genuine farmers and rural entrepreneurs. Small, marginal, sharecroppers (Borga chashi), and women farmers will receive top priority under this fund. To identify genuine beneficiaries, banks will utilise information from the local departments of agriculture, fisheries, and livestock, or the government-issued Farmer Cards . In an effort to ease access, small and marginal farmers will be eligible to secure collateral-free loans of up to Tk 5 lakh solely against the liability of their crops and produce. Furthermore, instead of immovable property, personal or group social guarantees will be considered as acceptable collateral for women and marginal farmers. According to the central bank circular, any farmer or client who is a loan defaulter with any bank or financial institution will be disqualified from receiving loans under this scheme. Additionally, the central bank strictly specified that these loans cannot be used to repay or adjust any existing or past debts. An individual beneficiary will be permitted to avail themselves of the facilities under this refinancing scheme a maximum of three times.

Finance Minister Amir Khosru Mahmud Chowdhury on Tuesday told Parliament that the government is working to strengthen the country’s capital market through institutional and regulatory reforms aimed at mobilising domestic capital and accelerating economic activities. “All necessary reforms will be undertaken to promote the capital market and ensure that it contributes meaningfully to the country’s economic growth trajectory,” he said while responding to a supplementary question from NCP lawmaker Atikur Rahman Mujahid (Kurigram-2) during the question-answer session in the Jatiya Sangsad. Budget to address rising poverty, expand economic opportunities: Amir Khosru Acknowledging the current challenges facing the capital market, the Finance Minister said the market remains in a weak condition and noted that several financial products required for its expansion have yet to be fully developed. Referring to ongoing reform efforts, Khosru said the Bangladesh Securities and Exchange Commission (BSEC) has been restructured with the inclusion of experienced and competent professionals to enhance its regulatory effectiveness and oversight capacity. He expressed optimism that the strengthened regulatory framework would help inject greater dynamism into the capital market in the coming days, enabling it to play a more effective role in channeling savings into productive investments and supporting overall economic growth.

DSE Brokers Association of Bangladesh (DBA) on Tuesday welcomed the decision to withdraw the long-standing floor price on shares of Islami Bank Bangladesh PLC and Beximco Ltd, expressing gratitude to newly appointed Bangladesh Securities and Exchange Commission (BSEC) Chairman Masud Khan and other commissioners. In a statement, the association said the move would help restore normal trading activities, improve price discovery and boost investor confidence in the country's capital market. The DBA noted that it had formally written to the BSEC on May 4, 2026, seeking the removal of the floor price imposed on the shares of Islami Bank Bangladesh PLC and Beximco Ltd to address prolonged market distortions and facilitate the resumption of normal trading. In the letter signed by DBA President Saiful Islam, the association argued that the continued floor price had restricted normal trading activities by preventing shareholders from selling their holdings, while also hampering the market's natural price discovery mechanism. The association further stated that the floor price system had increased the risk of negative equity for margin loan investors and created a negative perception of Bangladesh's capital market among foreign investors. Considering the DBA's proposal and the overall market situation, the newly constituted BSEC Commission decided to withdraw the floor price imposed on the shares of Islami Bank Bangladesh PLC and Beximco Ltd. Welcoming the decision, Saiful Islam thanked BSEC Chairman Masud Khan and the commissioners for taking what he described as a timely and market-oriented step. According to the DBA, the removal of the floor price is expected to ease long-standing market stagnation, restore normal trading activities and strengthen investor confidence. The association also believes the decision will make the market-based pricing mechanism more effective, transparent and dynamic. Expressing optimism about the new leadership, the DBA said it expects the commission under Masud Khan to undertake necessary reforms to remove regulations and barriers that have long been viewed as inconsistent with a business- and investment-friendly capital market environment. Saiful Islam welcomed the newly appointed chairman and commissioners and reaffirmed the DBA's commitment to working closely with the regulator in promoting market development, protecting investor interests and ensuring stability in the capital market.

The Pentagon has added several major Chinese companies, including Alibaba, BYD and Baidu, to its list of companies it says have ties to China's military, making them ineligible for US defense contracts. The updated list, released Monday, expands US scrutiny beyond traditional defense firms to include some of China's best-known private-sector companies. The move reflects growing concerns in Washington that Beijing is using the expertise and technology of civilian businesses to strengthen its military capabilities. The list was established in 2021 under a congressional mandate to identify Chinese companies believed to have links to the country's military. It includes not only firms directly controlled by military authorities but also those considered to support China's defense industry. The Pentagon has previously said that China's military seeks access to advanced technologies and expertise developed by businesses, universities and research institutions that appear to operate as civilian entities. China strongly criticized the decision. The Chinese Embassy in Washington accused the United States of misusing national security concerns to target Chinese businesses and called on Washington to provide a fair and non-discriminatory business environment for Chinese companies. Alibaba and Baidu rejected the Pentagon's claims. Alibaba said it is neither a military company nor part of any military-civil fusion program. Baidu, which has expanded into artificial intelligence and autonomous driving technology, described its inclusion on the list as completely unfounded. The latest update increases the number of companies on the Pentagon's list to 188, up from about 130 last year. The list already included firms such as DJI, one of the world's leading makers of consumer drones. Although companies on the list are not banned from operating in the United States, the designation can damage their reputation and may lead to additional restrictions in the future. Following the announcement, the House Select Committee on the Chinese Communist Party described the list as a warning to American businesses, government agencies and the public. The committee argued that Chinese firms on the list should be removed from US stock exchanges and that American companies should avoid doing business with them. The Pentagon said Alibaba supports China's defense industrial base through its ties to the country's Ministry of Industry and Information Technology. It also cited similar links involving BYD and Baidu. BYD, one of the world's largest electric vehicle manufacturers, has become a dominant player in the global EV market. Earlier this year, US President Donald Trump said he would welcome Chinese automakers such as BYD if they built factories in the United States and hired American workers. However, several US lawmakers continue to push for restrictions on Chinese-made electric vehicles. Another company newly added to the list is Unitree, known for its advanced robots that recently gained attention on the TV show America's Got Talent. The Pentagon said Unitree had received support from the Chinese government through programs designed to help innovative and globally competitive companies. BYD and Unitree did not immediately respond to requests for comment.

Naser Ezaz Bijoy, the chief executive officer (CEO) of Standard Chartered Bangladesh, has announced his resignation from the top post.  He has already informed Bangladesh Bank that he does not wish to continue in his role. Bitopi Das Chowdhury, head of corporate affairs, brand and marketing at Standard Chartered Bangladesh, confirmed the development to reporters on Monday. "Naser Ezaz Bijoy has stepped down. An interim CEO will now be appointed subject to approval from Bangladesh Bank," Bitopi Das said. Commenting on his decision, Naser Ezaz Bijoy said, "I am stepping down from the post of CEO, but I will continue working as an employee of the bank." Explaining the reasons behind his resignation, he noted that the bank's business growth has slowed down in tandem with the broader macroeconomic slowdown in the country. "Under these circumstances, the bank requires a fresh business strategy," he said. Naser Ezaz Bijoy had been serving as the CEO of the bank since November 2017.

Bangladesh and Indonesia have significant untapped opportunities in the halal economy beyond their traditional trade relations, particularly in sectors such as processed food, fashion, pharmaceuticals, healthcare, medical equipment and digital technology, Indonesian Ambassador to Bangladesh Ms. Listyowati said on Monday. Indonesian Ambassador made the remarks during a meeting between the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and a high-level Indonesian business delegation at Motijheel office in the city. Highlighting the growing scope of halal trade, the ambassador said halal products extend far beyond halal meat and food, encompassing apparel, cosmetics, medicines, healthcare services, medical devices, Islamic finance and tourism. “Bangladesh and Indonesia can explore extensive business opportunities in these sectors and further strengthen bilateral trade ties.” The ambassador also invited Bangladeshi businesses to participate in the D-8 Halal Expo 2026, scheduled to be held in Jakarta from July 8 to 12, expressing hope that a high-level Bangladeshi trade delegation would attend the event with their products. “The Indonesian Embassy in Dhaka will provide all possible support in this regard,” she added. Describing the upcoming expo as more than a conventional trade fair, Listyowati said it would serve as a unique platform for strengthening the halal ecosystem among D-8 member countries, expanding trade and investment, and fostering new partnerships across sectors. A report on the D-8 Halal Expo 2026 was presented at the meeting by Putu Rahwidhiyasa, Director General of Indonesia’s National Committee for Islamic Economy and Finance (KNEKS). He said Indonesia is not only focusing on halal product exports but is also actively developing a comprehensive halal value chain. “Bangladesh and Indonesia can further expand bilateral trade by leveraging this halal value chain and enhancing collaboration in the halal economy.” Citing the report, Rahwidhiyasa noted that Indonesia ranked among the top 10 exporters in intra-OIC trade in 2022, trailing only Türkiye and the United Arab Emirates among the leading exporters. According to the report, Indonesia currently ranks sixth globally in the Halal Economy Trade and Investment Index. The country holds the fourth position in the halal food sector and ranks sixth in the modest fashion and apparel segment, reflecting the strength and diversity of its halal market. The report also highlighted the rapid growth of the global halal economy. Among all halal sectors, halal food remains the largest contributor, with spending across OIC member countries reaching approximately $1.24 trillion in 2023, supported by a projected annual growth rate of 6.2 percent. The halal fashion sector ranked second, with Muslim consumer spending estimated at $277.9 billion and an annual growth rate of 6.8 percent. Speaking at the event, Mohammad Riyad Ali, President of the Indonesia-Bangladesh Chamber of Commerce and Industry (IBCCI) and former FBCCI director, said the D-8 Halal Expo offers a valuable opportunity to observe how member countries integrate halal practices into daily life and commerce. “It will also provide Bangladesh with an opportunity to learn from their experiences in developing and strengthening halal certification systems,” he said. Earlier, FBCCI Secretary General Md Alamgir delivered the welcome address, describing Bangladesh and Indonesia as long-standing trade partners with strong economic ties. While acknowledging Bangladesh’s relatively limited share in bilateral trade, he said participation in major international platforms such as the D-8 Halal Expo could diversify trade cooperation and open new avenues in the rapidly expanding halal market. He also assured the Indonesian delegation that FBCCI would work sincerely to facilitate the participation of a Bangladeshi business delegation in the D-8 Halal Expo 2026.

Kazi Shairul Hassan has been appointed new chairman while Abedur Rahman Sikder new managing director (MD) of Sammilito Islami Bank PLC, which was formed through the merger of five troubled Islami banks. The Financial Institutions Division (FID) of the Ministry of Finance announced the leadership changes through two separate notifications issued on Monday. According to the government orders, both the chairman and MD have been appointed for a three-year term, effective from their respective dates of joining. Chairman of Sammilito Islami Bank Mohammad Ayub Mia resigns Shairul Hassan earlier served as managing director of Saudi Bangladesh Industrial and Agricultural Investment Company (SABINCO), while Abedur Rahman is the current deputy managing director (DMD) of Dutch-Bangla Bank. Industry insiders and financial analysts view these high-level appointments as a crucial step towards stabilising and reforming the specialised lender. The new leadership is expected to streamline corporate governance, accelerate business expansion, fortify risk management, and restore depositor confidence through improved customer services. Sammilito Islami Bank operates as a major Shariah-compliant financial institution in the country. The fresh appointments of the chairman and MD are considered a defining milestone in a series of ongoing structural and managerial overhauls intended to steer the bank towards long-term sustainability. Sammilito Islami Bank was established by the previous interim government last year by merging Exim Bank, First Security Islami Bank, Global Islami Bank, Union Bank, and Social Islami Bank Limited.

Commerce Minister Khandakar Abdul Muktadir on Monday said the government has undertaken a series of initiatives to strengthen the Bangladesh Competition Commission and the Directorate of National Consumers' Right Protection (DNCRP) to break the monopolistic dominance of large corporate groups and safeguard the interests of small and medium businesses. He disclosed the measures in Parliament while responding to a question from opposition MP M Nurul Islam regarding the government's efforts to ensure fair competition in the market and protect small traders. No plans for new state-owned mills, private sector to lead industrial growth: Muktadir   The minister said a project, titled “Strengthening the Bangladesh Competition Commission,” has been taken up to enhance the capacity of the commission in addressing anti-competitive practices and market concentration. The project proposal was sent to the Economic Relations Division (ERD) through the Ministry of Commerce on April 6, 2026. He said the government has initiated steps to amend the Competition Act, 2012 to make it more modern and business-friendly. The proposed amendments are currently under review at the Ministry of Commerce. In addition, the government has moved to amend the Consumers’ Right Protection Act, 2009 to make it more effective and relevant to current market realities, Muktadir added. To strengthen the DNCRP, the minister said, a proposal is being processed at the Ministry of Commerce to expand the organisation’s workforce and logistical capacity. Under the proposal, its approved manpower will be increased from 366 posts to 1,762 with the creation of 1,396 new positions. The plan also includes the provision of vehicles and other necessary equipment to improve enforcement and monitoring activities. Muktadir further said initiatives have been taken to increase budgetary allocations for the directorate to support market surveillance operations, consumer awareness campaigns and other related activities. He expressed hope that the measures will help establish a more competitive business environment, prevent market concentration and better protect consumers as well as small and medium-sized enterprises across the country.

Experts at an international webinar on Monday stressed the importance of safe poultry production in a bid to ensure food security, public health and environmental sustainability, saying the “One Health” approach provides a practical framework for addressing emerging challenges facing the sector. SAARC Agriculture Centre (SAC) organised the webinar, titled “Safe Poultry Production in the Context of One Health Approach.” Tk 50,000cr poultry industry on brink of collapse under tax burden The event brought together renowned experts, researchers, policymakers, academician, private practitioner, students and professionals from across the region to discuss strategies for ensuring safe, sustainable and resilient poultry production while addressing emerging challenges related to human and animal health and environmental sustainability through the One Health approach, according to a press release. In his opening remarks, SAC Director Dr Md Harunur Rashid highlighted the growing importance of safe poultry production to ensure food security, public health and environmental sustainability. He emphasised that the “One Health” approach provides a practical framework for addressing emerging challenges in the poultry sector. Head of the Division of Poultry Nutrition at ICAR-Directorate of Poultry Research of India Dr Shyam Sundar Paul delivered the keynote presentation on scientific poultry management and nutrition. He stressed that improved biosecurity, balanced nutrition and responsible farming practices are essential for enhancing productivity while safeguarding animal and human health. Xiau Yi Tan, senior scientist at the National Centre for Food Science of Singapore Food Agency, shared insights on food safety and disease prevention in poultry production systems. She underscored the need for stronger collaboration among veterinarians, public health experts and farmers to minimise risks throughout the food chain. The session was moderated by Dr Md Younus Ali, senior programme specialist (Livestock) at SAC, who facilitated discussions and interactions among participants. The webinar attracted participants from SAARC member states and beyond, reflecting growing regional interest in promoting safe, resilient and sustainable poultry production through the “One Health” approach.

Asian stock markets fell sharply on Monday after a heavy sell-off in major technology shares dragged Wall Street to its worst day in months, while growing expectations of a possible U.S. interest rate hike added to investor concerns. Japan's benchmark Nikkei 225 dropped 4.5 percent to 63,604.15. The decline came after the Japanese government revised its first-quarter annual economic growth rate to 1.8 percent from an earlier estimate of 2.1 percent. Despite the drop, the Nikkei remains more than double its level from five years ago. Oil prices jumped after Israel carried out airstrikes early Monday targeting central and western Iran in response to missile attacks. Iranian state media reported explosions in Isfahan, Tabriz and Tehran. The latest escalation comes despite U.S. and Iranian negotiators reaching a preliminary agreement last week to extend a ceasefire. However, the deal has yet to be finalized, and the renewed violence has raised doubts about efforts to end the conflict. International benchmark Brent crude rose $4.55 to $97.64 per barrel, while U.S. benchmark crude gained $4.17 to $94.71 per barrel. Elsewhere in Asia, South Korea's Kospi plunged 8.2 percent to 7,493.34. Shares of  Taiwan's Taiex index declined 3.5 percent. Hong Kong's Hang Seng Index fell 1.7 percent to 24,527.22, while China's Shanghai Composite Index dropped 1.8 percent to 3,955.72. Markets in Australia were closed for the King's Birthday public holiday. Analysts said the latest downturn reflects concerns that technology stocks, particularly those linked to artificial intelligence, may have risen too far too quickly. On Friday, Wall Street closed sharply lower. The S&P 500 fell 2.6 percent to 7,383.74, marking its biggest one-day decline since October. The Dow Jones Industrial Average dropped 1.4 percent to 50,866.78, while the Nasdaq Composite slid 4.2 percent to 25,709.43. Investor sentiment was hurt by a stronger-than-expected U.S. jobs report showing the economy added 172,000 jobs in May. The data reinforced expectations that the U.S. Federal Reserve could raise interest rates later this year. Following the report, yields on U.S. government bonds rose. The yield on the 10-year Treasury note increased to 4.54 percent from 4.50 percent, while the two-year Treasury yield climbed to 4.16 percent from 4.04 percent. The Federal Reserve has kept rates unchanged in recent months while assessing the impact of inflation and trade-related pressures. Concerns over global energy supplies have also increased as the conflict involving Iran continues to disrupt oil shipments through the Strait of Hormuz. In currency trading, the U.S. dollar edged up to 160.27 Japanese yen from 160.25 yen, while the euro rose slightly to $1.1522 from $1.1515.