United News of Bangladesh

Bangladesh Bank organized a workshop to bring financially underserved women into the formal financial system. The title of the workshop was "Accelerating Financial Inclusion of Women" at the CSS Awa Center in Rupsha Upazila of Khulna recently. Bangladesh Bank Deputy Governor Dr. Md. Habibur Rahman attended the program as the chief guest, while NAU Director Shayema Islam presided over the session. Speaking on the occasion, discussants highlighted the importance of inclusive financing, analyzed the current scenario for marginal women, identified existing barriers, and outlined strategies to overcome them.  They stressed expanding special credit facilities for women, promoting digital financial services, enhancing opportunities in e-commerce and freelancing, boosting financial literacy, and formulating necessary inclusive policies. A total of 10 financial service booths were set up on the workshop premises by banks, finance companies, mobile financial service providers (MFSPs), and microfinance institutions. Deputy Governor Dr. Md. Habibur Rahman, along with participating women, visited the booths, where several marginal women opened financial service accounts and received basic guidance on financial products. Bangladesh Bank Executive Director Rup Ratan Pine and Bangladesh Bank Khulna Director SM Kamaluzzaman Kamal attended the event as special guests. The workshop was moderated by NAU Additional Director Shahana Ferdousi. Khulna University Development Studies Discipline Associate Professor Dr. Md. Hasan Howlader, Microcredit Regulatory Authority Director Mohammad Kamal Hossain, and senior officials from various financial institutions took part in the discussion. Underprivileged women and local women entrepreneurs shared their personal experiences during the workshop, and an awareness quiz competition was organized for the participants. A total of 120 individuals, including representatives from banks, finance companies, MFS providers, microcredit organizations, and financially excluded women, participated in the workshop.  

The Bangladesh Securities and Exchange Commission (BSEC) on Tuesday gave its no-objection to the reconstitution of Beximco Pharmaceuticals PLC's board with nine directors, as proposed by the company. The decision came at the commission's 1031st meeting, chaired by BSEC Chairman Masud Khan at the commission's Agargaon office. The commission took the decision on the company's application, after considering the High Court's oral direction, the opinion of its panel lawyer and the overall interests of investors. Under the proposed structure, three sponsor directors, ASF Rahman, Osman Kaiser Chowdhury and Iqbal Ahmed, will sit on the board. A managing director will be newly appointed, and one director will represent a local financial institution, IFIC Bank PLC. The board will also have four independent directors, three of them to be newly appointed, including one woman, in line with the Corporate Governance Code, 2018.

Bangladesh is preparing to issue sovereign bonds in the international capital market for the first time, aiming to raise up to US$ 1 billion within the next three months, according to official sources. The government is currently in the process of appointing global financial services firm JPMorgan Chase & C. as the issue manager for the debut bond, which is targeted for release by December this year. A Bangladeshi delegation recently held meetings with institutional investors in several European countries and in New York of the USA. A Bloomberg report noted that around 15 major global investment firms, including BlackRock, Pacific Investment Management Company (PIMCO), Texas Pacific Group (TPG), Macquarie, GoldenTree Asset Management and MetLife, have shown preliminary interest in the country's upcoming sovereign bond. "Investor interest in our sovereign bond is extremely high," Tanvir Shahriar Ghani, special assistant to the Prime Minister on investment and capital market affairs, has recently said. He heads a high-level committee formed by the Ministry of Finance in July to assess the feasibility of the issuance. Tanvir, however, added that further discussions are necessary before finalising the bond's structure, interest rates, and legal aspects. "The government is closely monitoring the rising cost of borrowing in global markets, and the final decision will be made after evaluating investor rate expectations," he said. If successful, the initiative will establish Bangladesh’s sovereign debt pricing benchmark in global capital markets for the first time, opening up direct foreign currency market-based financing in the future. Strategic shift in foreign financing: Historically, Bangladesh has relied heavily on concessional financing from multilateral development partners, including World Bank, Asian Development Bank (ADB), Japan International Cooperation Agency (JICA) and International Monetary Fund (IMF), as well as bilateral loans. However, changing global interest rate conditions have altered borrowing terms, while Bangladesh faces rising development expenditure, debt repayment obligations, and dollar demand. With the national budget for the current fiscal year set at Tk 9,38,000 crore, a significant deficit must be covered through financing. Entering international debt markets aims to diversify financing sources and position Bangladesh as a regular participant in global capital markets. US$ bonds first, others under evaluation The initial issuance is most likely to be US Dollar-denominated due to higher market liquidity. However, the government is also exploring the possibility of issuing Samurai bonds in Japanese Yen, Panda bonds in Chinese Yuan, Dim Sum bonds in Hong Kong, and Islamic Shariah-compliant Sukuk bonds in the future. Bangladesh Bank has already held discussions with a delegation from the Export-Import Bank of China regarding potential Panda bond issuances. Government officials emphasised that while the initial target is $500 million, the amount could be expanded up to $1 billion if market conditions remain favourable. Nevertheless, the government remains cautious about its overall credit rating, foreign exchange debt servicing capacity, and borrowing costs to prevent overburdening future foreign debt.  

Bangladesh Jewellers Association (BAJUS) has reduced gold prices again, cutting the price of 22-carat gold by Tk 2,216 per bhori to Tk 228,556 including VAT. In a notice issued on Tuesday, BAJUS said the revised prices came into effect at 10:00am the same day. According to the notice, the price adjustment followed a decline in the price of pure gold in the local market. Under the new rates, 22-carat gold costs Tk 228,556 per bhori (11.664 grams), while 21-carat gold is priced at Tk 218,292, 18-carat gold at Tk 187,440 and traditional-method gold at Tk 153,148 per bhori, including VAT. BAJUS said the prices would remain effective at all jewellery shops until further notice. Making charges will vary depending on the design of the ornaments. As VAT is included in the selling prices of gold and silver jewellery, customers cannot be charged VAT separately. The association's existing rules on exchanging and purchasing ornaments, excluding applicable VAT, making charges and stone costs, will remain in force. Earlier, on September 28, BAJUS reduced the price of 22-carat gold by Tk 2,158 per bhori to Tk 230,772, including VAT. With the latest adjustment, gold prices have been revised 119 times in the domestic market so far this year, with 58 increases, 60 reductions and one VAT adjustment. Alongside gold, BAJUS has also reduced silver prices by Tk 175 per bhori, setting the price of 22-carat silver at Tk 4,316, including VAT. Under the revised rates, 21-carat silver costs Tk 4,141 per bhori, 18-carat silver Tk 3,558 and traditional-method silver Tk 2,683. Silver prices have been adjusted 73 times in the domestic market so far this year, with 36 increases and 37 reductions.

Asian stocks mostly declined Tuesday after major U.S. indexes ended lower in the previous session, while U.S. Treasury yields paused after reaching their highest levels in about two decades. U.S. stock futures edged down, while oil prices increased amid uncertainty over talks between the United States and Iran and the possibility of reopening the Strait of Hormuz, a key route for global oil shipments. On Monday, the S&P 500 fell 0.8%, the Dow Jones Industrial Average dropped 0.7% and the Nasdaq composite declined 0.9%. Rising U.S. Treasury yields have put pressure on stocks as investors seek better returns amid concerns about inflation and growing U.S. government debt. The yield on the 10-year U.S. Treasury note reached 5.27% Monday, its highest level since 2007. It stood at about 5.25% early Tuesday, compared with 5.17% last Friday. Oil prices, already elevated and contributing to inflation, rose further Tuesday as mediators continued efforts to reach an agreement between Washington and Tehran. U.S. President Donald Trump rejected an Iranian offer over the weekend to reopen the Strait of Hormuz. Brent crude, the international benchmark, rose 1.8% to $99.63 a barrel, well above about $72 a barrel in late February before the Iran war. Japan’s Nikkei 225 fell 1.2% to 65,114.64, while South Korea’s Kospi declined 0.6% to 6,847.56. Hong Kong’s Hang Seng Index dropped 0.5% to 24,516.46. Shares of online fast-fashion retailer Shein traded in Hong Kong fell 11.7% after the company reported a 67% year-on-year decline in adjusted net profit for its latest quarter. China’s Shanghai Composite edged up 0.1% to 3,826.51 after state-run Xinhua News Agency reported Monday that the State Council discussed ways to improve the effectiveness of macroeconomic policies and support economic growth. Australia’s S&P/ASX 200 rose 0.1% to 8,686.20. Taiwan’s Taiex fell 0.6%, while India’s Sensex declined 0.7%. The U.S. dollar rose slightly to 157.42 Japanese yen from 157.39 yen. The euro fell to $1.1362 from $1.1371.

An initiative has been undertaken to develop a five-star eco-friendly resort in the Cox’s Bazar–Teknaf coastal belt, involving a potential foreign investment of approximately US$500 million in Bangladesh’s tourism sector. To implement the project, a Memorandum of Understanding (MoU) was signed on Saturday (September 26) at a hotel in Kuala Lumpur, Malaysia. The agreement was signed by Malaysian hotel-resort entrepreneur Tan Sri Syed Yusof Jojo, former Vice-President and Tourism Minister of the Maldives Ahmed Adeeb, and Chairman of Bangladesh's Versatilo Group Dr. Kamrul Ahsan, according to a press release issued on Monday (September 28). Under the initial plan, a joint investment company will be established in Bangladesh to develop the large-scale, sustainable, and luxurious resort. The project promoters are currently in discussions with several globally recognized hotel brands regarding international management and operational partnerships, including Mövenpick, Novotel, and Grand Hyatt. The brand partner and operating company will be finalized following commercial negotiations and formal procedures. The proposed resort complex will feature luxury hotels and villas, international-standard restaurants, health and wellness facilities, entertainment amenities, and nature-based tourism infrastructure. Highlighting the investment potential, Tan Sri Syed Yusof Jojo—who has developed high-profile properties including Four Seasons Kuala Lumpur, Concorde Hotel, and Hard Rock Hotel Penang—said he was honored to join this new chapter in Bangladesh’s tourism industry, calling the Cox's Bazar project highly attractive and investment-friendly. Former Maldivian Tourism Minister Ahmed Adeeb stated that the initiative offers an exceptional opportunity to apply the Maldives' experience in coastal tourism development to Bangladesh's beach region. Dr. Kamrul Ahsan, Chairman of Versatilo Group, emphasized that bringing global investment and expertise to Bangladesh is aimed at elevating the country's tourism profile. He noted that the goal is not merely to build a hotel, but to create a world-class eco-tourism destination on the world's longest natural sea beach.

Chairman of the Bangladesh Securities and Exchange Commission (BSEC) Masud Khan on Monday emphasized the need to introduce a unified, highly secure back-office software for all brokerage houses to prevent fund embezzlement and recurring financial irregularities in the capital market. Speaking at the inauguration of the Investor Protection Fund (IPF) distribution ceremony organized by the Dhaka Stock Exchange (DSE), in its headquarters in Nikunja, Khan stated that in the digital era, authorities must have real-time access to brokerage houses' bank accounts and Consolidated Customers' Accounts (CCA). "A unified, highly protected single back-office software must be implemented to provide real-time data so that we can conduct daily reconciliations," he said, noting that such a system would enable rapid identification of fund shortfalls or irregularities while reducing direct regulatory oversight pressure. He also stressed the importance of advancing Order Management Systems (OMS). Disclosing figures on recent market irregularities, the BSEC chief revealed that 17,967 investors were affected by financial opacities totaling Tk 492 crore across five securities houses. Terming the accumulated problem deeply concerning, he noted that the fund distribution marks the beginning of a resolution brought about through joint teamwork between the DSE, BSEC, and the Investors Forum. Outlining the refund process through the IPF, Khan announced that affected investors with claims under Tk 5 lakh will receive 100 percent of their money back in the first phase. He noted that approximately 96 percent of all affected investors have claims below Tk 5 lakh, assuring that those with claims exceeding Tk 5 lakh will also be covered in subsequent phases to rebuild confidence in the stock market. DSE Chairman Mominul Islam, Managing Director (MD) Nuzhat Anwar, Board members and victim investors also spoke in the event.

Bangladesh Bank (BB) has permitted passengers to purchase tickets for foreign airlines operating in the country directly using international credit and debit cards, providing an alternative to traditional banking channels and travel agencies. The central bank’s Foreign Exchange Policy Department (FEPD-1) issued a circular on Monday and dispatched it to all Authorized Dealer (AD) banks across the country. According to the circular, Bangladeshi citizens holding valid visas can use international cards to buy tickets for foreign airlines operating in Bangladesh. This facility will also apply to foreign airlines whose ticket sales are settled outside Bangladesh through international acquiring and payment settlement systems. As per Bangladesh Bank instructions, purchasing tickets via international cards under this provision will remain outside the consumer's fixed annual travel quota. However, issuing banks can verify the authenticity of ticket purchases to refill or adjust the spent limit on the customer's card. To identify such transactions, banks must follow the specific Merchant Category Code (MCC) assigned to the respective airlines. However, the central bank clarified that this facility will not apply to domestic Bangladeshi airlines if booked through foreign platforms operating outside Bangladesh. The circular further stated that foreign currency earned through ticket sales must be calculated and adjusted as remittable surplus under existing regulations when sending money to the airline's home country. Additionally, banks must regularly report these transaction details through Bangladesh Bank’s Transaction Monitoring (TM) module. The directive, signed by BB Director (FEPD-1) Dr. Md. Abu Bakkar Siddique, comes into effect immediately.

Dhaka Stock Exchange (DSE) will refund up to Tk 5 lakh in full to 17,332 investors who suffered losses from irregularities and embezzlement by brokerage houses, paying out of its Investors Protection Fund (IPF), DSE Chairman Mominul Islam said Monday. Speaking at the DSE's inauguration ceremony for IPF disbursement, Mominul said investing in the capital market can bring both profit and loss, and share price fluctuations are natural. "But when investors suffer because of irregularities by a market intermediary, it seriously damages their confidence in the market. Such incidents are not acceptable in any way," he said. Mominul said several brokerage houses failed to discharge their responsibilities in the past. "Five of them diverted investors' money or shares into their own accounts and later failed to return them.” According to the DSE, 17,967 investors are currently affected. Of them, 17,332 will get their full money, up to Tk 5 lakh each, from the IPF in this phase. For investors who will not receive their full money at this stage, he said, initiatives will be taken to return it quickly. "The DSE and other market stakeholders will work on this through legal means." Expressing regret to the affected investors, the DSE chairman said they had invested their hard-earned money in the market with great hope. He apologised for the mental and financial hardship they endured because of the irregularities. To prevent such incidents in the future, he urged all market stakeholders, including the Bangladesh Securities and Exchange Commission (BSEC), the two stock exchanges, the Central Depository Bangladesh Limited (CDBL) and brokerage houses, to work together. He expressed hope that collective efforts would fully restore investor confidence. He said verifying the information of 17,967 investors and determining their investment records and final balances was a difficult task, which DSE management completed. He expressed hope that the refund process would also be carried out properly. Regarding the fund's sources, Mominul said the main sources are brokerage houses' trade commissions and 25 percent of the interest earned on Customer Consolidated Accounts (CCA). "This DSE initiative would not have been possible without the contribution of brokerage houses." Expressing hope that the positive trend in the country's capital market would strengthen further, he said building a strong and transparent market is a shared goal. All stakeholders must work together to develop the capital market as a key pillar of the economy, he added.

An acute crisis has gripped Bangladesh's bottled Liquefied Petroleum Gas (LPG) market, with 12-kg cylinders selling at Tk 300 to Tk 500 above government-fixed rates as pipeline gas shortfalls, Middle East geopolitical tensions, and skyrocketing international freight costs strain supplies. On Sunday, 12-kg LPG cylinders were retailing between Tk 1,830 and Tk 2,100 across various cities, despite the Bangladesh Energy Regulatory Commission (BERC) fixing the price at Tk 1,585 on September 10. Even at inflated rates, consumers face severe supply shortages, with many retail outlets completely out of stock. Public sector LPG operator LP Gas Limited (LPGL) has kept its 12.5-kg cylinder price unchanged at Tk 777, but its market share remains minimal compared to private distributors. Industry insiders attributed the crisis to a sharp decline in domestic pipeline gas supply, forcing household, industrial, and commercial consumers to switch to bottled LPG. According to Petrobangla, national natural gas demand stands near 4,000 million cubic feet per day (MMCFD), against a total current supply of around 2,600 MMCFD. Although Petrobangla has a domestic extraction capacity of 2,750 MMCFD and regasification capacity of 1,100 MMCFD from two floating LNG terminals in Moheshkhali, recent global LNG market disruptions have tripled procurement costs, worsening overall gas availability. BERC Member (Gas) Md. Mizanur Rahman said private operators imported and supplied 126,000 tonnes of LPG this month—up from 100,000 to 106,000 tonnes during the same period in previous years. However, the deficit in pipeline gas has created an unprecedented demand surge that current LPG distribution networks struggle to meet. Amid the supply crunch, global LPG prices and ocean freight rates have escalated sharply. For September, Saudi Aramco set contract prices (Saudi CP) at $625 per tonne for propane and $660 per tonne for butane (up from $620 and $640 in August). Local operators use a 35:65 propane-butane ratio to process bottled gas. Capt. Mainul Ahsan Khan, Deputy Managing Director of Smart Group of Industries (parent company of BM Energy), pointed out that Middle East conflicts have restricted global LPG availability, enabling wealthier nations to outbid local importers. "BERC set the retail price based on a freight benchmark of $160 per tonne, but actual international freight charges have surged to $400 per tonne," Khan explained. "Private operators cannot absorb such heavy losses continuously without government subsidies. Most importers are running out of stock." Field visits in Chattogram’s Bakalia, Chandgaon, and Lalkhan Bazar areas revealed widespread shortages. Dealers reported that bottling plants have halted or drastically reduced deliveries over the past three days. In retail shops, 12-kg cylinders of JMI were selling at Tk 1,850, Fresh and Jamuna at Tk 1,830–1,880, Total and Omera at Tk 1,900–1,950, and Beximco composite cylinders at Tk 2,100. BERC officials confirmed they have held meetings with LPG producers and importers to stabilise market distribution and restore regular supply channels.