United News of Bangladesh

Dhaka Chamber of Commerce & Industry (DCCI) President Taskeen Ahmed has sought Malaysia's support in facilitating exports of Bangladeshi products and services including readymade garments, pharmaceuticals, electronics, IT-enabled services, jute goods and food products, to ASEAN countries. Taskeen made the call while attending separate bilateral trade and investment discussions with the National Chamber of Commerce & Industry of Malaysia (NCCIM) and the Federation of Malaysian Manufacturing (FMM) on September 25 and 26 in Kuala Lumpur as part of a visiting DCCI business delegation's engagements. Speaking at the "Malaysia-Bangladesh Business Forum: Bridging Business and Building B2B Partnership," organised by NCCIM, Taskeen also urged Malaysian entrepreneurs to invest in Bangladesh to tap its large domestic market and use it as a springboard for expanding Malaysian exports to other South Asian countries. NCCIM President Norsyahrin bin Hamidon described Bangladesh as one of Malaysia's most important trade partners in South Asia. While petroleum products currently dominate Malaysia's exports to Bangladesh, he pointed to significant untapped potential for Malaysian goods in Bangladesh's expanding middle-class market, urging Malaysian entrepreneurs to pursue this opportunity more actively. DCCI Senior Vice President Razeev H Chowdhury presented a keynote paper on Bangladesh's trade and investment potential at the forum. At a separate "Strategic Forum on Malaysia-Bangladesh Business & Trade Opportunities," organised by FMM on September 25, FMM President Jacob Lee Chor Kok said greater private-sector engagement could take bilateral ties to a new level and open new areas of economic cooperation. He also praised the contribution of Bangladeshi workers to Malaysia's economy, noting that skills and experience gained there would benefit Bangladesh's industrialisation once they return home. Bangladesh High Commissioner to Malaysia Manjurul Karim Khan Chowdhury, MITI Senior Director Dr Rashidi Said, and MATRADE Director Naim Abdul Rahman, among others, also spoke at the events. DCCI and FMM signed a Memorandum of Understanding (MoU) to strengthen bilateral trade and investment cooperation, with Taskeen Ahmed and Jacob Lee Chor Kok signing on behalf of their respective organisations. Entrepreneurs from both countries also took part in around 70 B2B matchmaking sessions, exploring business and investment opportunities across sectors.

Asian shares were mixed Friday after another global sell-off in bonds pushed U.S. Treasury yields to their highest levels in years. U.S. stock futures edged higher. Japan’s Nikkei 225 rose 1.3% to 66,364.20, while Hong Kong’s Hang Seng fell 1.1% to 24,495.35. Australia’s S&P/ASX 200 declined 0.4% to 8,665.00. India’s Sensex was up less than 0.1%. Markets in mainland China, Taiwan and South Korea were closed for a holiday. On Wall Street, the S&P 500 was almost unchanged Thursday, slipping less than 0.1%. The Dow Jones Industrial Average fell 0.3%, while the technology-heavy Nasdaq composite gained less than 0.1%. Another global bond sell-off has put fresh pressure on stock markets, with the yield on the U.S. 10-year Treasury reaching its highest level since 2007. The yield eased slightly to around 5.17% early Friday after rising above 5.20% Thursday, compared with about 5.11% on Wednesday. Government bond yields have remained high as investors demand greater returns amid rising risks and uncertainty. These include increasing inflation pressures linked to the energy shock caused by the war involving Iran and concerns over growing U.S. government debt. ING Bank analysts said in a commentary this week that higher energy prices and continued inflation pressures were likely to keep pushing U.S. 10-year Treasury yields higher. Oil prices declined early Friday as investors watched for signs that the Strait of Hormuz, a key route for global oil shipments, could reopen. Brent crude, the international benchmark, fell 1% to $99.24 a barrel. It remained below the $100 mark but was still well above about $72 a barrel in late February, before the war began. Investors were also watching a meeting in Washington between U.S. President Donald Trump and Chinese President Xi Jinping. Analysts said the meeting had produced limited concrete progress so far, although the two leaders discussed issues including trade, artificial intelligence and the Middle East. The U.S. dollar fell to 158.06 Japanese yen from 158.86 yen, while the euro rose to $1.1387 from $1.1380.

Asian shares were mixed Friday following another bond sell-off that brought U.S. Treasury yields to their highest in years. U.S. futures edged lower. Japan’s Nikkei 225 gained 1.2% to 66,318.14. Hong Kong’s Hang Seng slipped 1.7% to 24,333.20. Australia’s S&P/ASX 200 fell 0.5% to 8,660.30. India’s Sensex was up 0.2%. Markets in mainland China, Taiwan and South Korea were closed because of a holiday. Wall Street’s benchmark S&P 500 was almost unchanged on Thursday, edging down less than 0.1%. The Dow Jones Industrial Average dropped 0.3%, while the technology-heavy Nasdaq composite climbed less than 0.1%. A global sell-off in the bond market has again added pressure to the stock market, as the yield on the U.S. 10-year Treasury reached its highest since 2007. The U.S. 10-year Treasury eased slightly to around 5.19% early Friday, after rising above 5.20% on Thursday from around 5.11% Wednesday. Government bond yields have been elevated as bond investors are demanding higher compensation under increasing risks and uncertainties, including growing inflationary pressure from the Iran war-driven energy shock and rising U.S. government debt. Oil prices fell early Friday as investors look for signs of the reopening of the Strait of Hormuz, the key waterway for global oil transport. Brent crude, the international standard, dropped 1.4% to $98.84 per barrel, remaining below the $100 mark although it’s still well above the roughly $72 a barrel level in late February before the start of the war. While many investors are also monitoring the meeting in Washington between U.S. President Donald Trump and Chinese President Xi Jinping, analysts said limited concrete progress has been made, although the two sides touched on topics including trade, artificial intelligence and the Middle East. The U.S. dollar fell to 158.34 Japanese yen from 158.86 yen. The euro was trading at $1.1370, down from $1.1380.   END/

State Minister for Foreign Affairs Humaiun Kobir on Thursday said for graduating LDCs, additional time is essential for macroeconomic stability, smooth transition strategies and critical reforms. "For Bangladesh, an extended preparatory period will support a smooth, sustainable and irreversible graduation and a resilient post-graduation economy," he said while speaking at the annual ministerial meeting of Foreign Ministers of LDCs held in New York. Kobir said they seek the Group’s continued support as their request is considered by the General Assembly. Looking ahead to the mid-term Review, the State Minister proposed six priorities. First, close the financing gap by reversing the decline in ODA, meeting commitments, expanding concessional and innovative financing, and strengthening FDI. Second, enhance LDC trade through greater market access, transparent rules of origin and stronger trade facilitation. Third, ensure predictable and accessible climate finance for LDCs, including adaptation and loss and damage. Fourth, strengthen international cooperation to combat illicit financial flows and recover stolen assets. Fifth, support structural transformation through productive capacity, industrialization, technology transfer, value addition and digital inclusion. Finally, strengthen partnerships through UN80 and wider multilateral reforms to make the system more responsive to LDCs. Kobir appreciated Nepal’s leadership as LDC Chair. "We reiterate our deepest condolences to Nepal and express our solidarity in its recovery efforts in the aftermath of the recent natural disaster," he said. "We further welcome The Gambia as the incoming Chair." He thanked the UN USG Rabab Fatima for her continued focus on addressing the needs and concerns of LDCs and countries in transition. "We wish her every success in her future endeavours as the Secretary General's Special Representative for Afghanistan," Kobir said. He said Bangladesh joined the meeting with a renewed mandate following the February 2026 election. "Our 3R Strategy - Recovery, Restoration and Reconstruction - aims to lay the foundation for sustainable development." The global landscape has changed significantly since the Doha Programme of Action was adopted. Geopolitical tensions, economic volatility, debt distress, declining ODA, food and energy insecurity and climate crisis are testing our resilience. LDC growth remains below the 7% target, projected at 4.6% in 2026 and 5% in 2027. "Accordingly, we call for progress on Online University, Food Stockholding Mechanism, Sustainable Graduation Support Facility, International Investment Support Centre and Resilience Building Mechanism," Kobir said. He also reaffirmed support for Awaza Programme of Action and Second World Summit for Social Development outcomes.

The Japan-Bangladesh Chamber of Commerce and Industry (JBCCI) has elected a 16-member Board of Directors for the 2026–2028 term, with Kazuiki Kataoka as its President. The election was held in two phases on September 13 and September 23, according to a press release issued on Thursday. Kazuiki Kataoka, Country Representative of JETRO Dhaka Office and former Joint Secretary-General of JBCCI, was elected President. Rabiul Alam, Managing Director of MKK Logistics, has been elected Secretary General, while Kenji Kimura, Chief Representative of MUFG Bank Dhaka Office, was elected Treasurer. Both served as directors on the outgoing board. Abu Zaman Md. Tariqul Islam, Managing Director of Yusen Logistics (Bangladesh) Ltd., and Syed Samiul Huq, Director of Japan Solar-tech Bangladesh Ltd., were elected Vice President 1 and Vice President 2, respectively. Oliver Kutz, Managing Director of JT International Bangladesh Ltd., was elected Joint Secretary General, and Saumitra Kumar Mutsuddi, Head of Corporate Affairs at BSRM Ltd., was elected Joint Treasurer. The remaining nine elected directors are Tareq Rafi Bhuiyan (Jun), Hiroaki Oura, Kabir Ahmed, Atsushi Hirakuri, AKM Ahmedul Islam BABU, Kenichiro Kawamoto, Farzanah Chowdhury, Hironori Yamanaka, and Mudassir Murtaza Moin. The election was conducted by a three-member Election Board headed by AKM Kamrul Islam FCA, First Banking Ombudsman of Bangladesh, alongside AZM Azizur Rahman, Acting Chairman of the Election Board and former BEPZA official. A three-member Election Appeal Board was headed by Dr. Muhammad Abdul Mazid, former Chairman of the National Board of Revenue (NBR), alongside former JBCCI President Abdul Haque. Founded in 2004, JBCCI promotes bilateral trade, Japanese investment in Bangladesh, and Bangladeshi export growth to Japan, according to a press release.  

In a major relief for 100 percent foreign currency-earning raw jute exporters, Bangladesh Bank (BB) has extended the deadline to resolve their classified loan issues and complete loan rescheduling applications until December 31, 2026. The central bank issued a circular letter (BRPD-1 Circular Letter No. 33) to the managing directors and chief executive officers of all scheduled banks on Thursday, providing fresh policy support to address ongoing trade disruptions in the raw jute sector. According to the new circular, exporters with adversely classified loans—classified as Sub-standard (SS), Doubtful (DF), or Bad/Loss (B/L) as of September 30, 2026—can apply for rescheduling by depositing a 2 percent down payment of their total loan balance. Exporters must submit their applications to their respective banks by September 30, 2026, and banks must process and resolve all received applications by December 31, 2026. Previously, exporters were required to apply by June 30, 2026, based on their classified loan balance as of December 31, 2025. However, central bank officials noted that due to ongoing complexities and operational hurdles in raw jute exports, many exporters were unable to fulfill the down payment requirements and submit their applications within the earlier timeframe. The circular, signed by Gazi Md. Mahfuzul Islam, Director of the Banking Regulation and Policy Department-1, stated that all other terms and conditions from previous directives remain unchanged, and the new order takes immediate effect.

The Bangladesh Bank (BB) has granted initial approval for the establishment of five digital banks in the country. Under the decision, the central bank will issue Letters of Intent (LoIs) to the approved entities, enabling them to initiate operational procedures towards full launch. The decision was taken at a meeting of the BB Board of Directors, presided over by central bank Governor Md Mostaqur Rahman, on Thursday, said Arief Hossain Khan, spokesperson for the central bank. The five digital banks are bKash Digital Bank by mobile financial service (MFS) provider bKash, Nova Digital Bank by Banglalink, Boost Digital Bank by Robi Axiata, Digital Banking of Bhutan by Bhutan's DK Bank and Kori Digital Bank by Technohaven. The central bank has initially approved five entities among 12 applicants to receive LoIs for setting up digital banks. Earlier, during the interim government, Bangladesh Bank invited applications for digital bank licences. A total of 12 institutions, including leading industrial conglomerates, microfinance institutions, mobile operators, and MFS providers, submitted applications between September 1 and November 2, 2025. However, approvals were stalled at the time due to internal protests by Bangladesh Bank officials and other factors under then-Governor Ahsan H Mansur. Following the formation of the BNP government, Mostaqur Rahman replaced Ahsan H Mansur as governor. No new applications were called, and the central bank's board made its selection from the existing pool of applicants.

Multinational banking giant Standard Chartered is reportedly preparing to wind down its retail banking operations in Bangladesh as part of a global strategic shift, sparking interest among leading local lenders to acquire its high-value consumer portfolio. While the bank has not made any official announcement, industry sources revealed that competitive bidding may soon be launched to sell the retail division. Top private commercial lenders BRAC Bank and City Bank have already emerged as frontrunners in separate preliminary discussions to acquire the business. Commercial banking sources confirmed that initial talks regarding the transfer mechanism have taken place between Standard Chartered and interested domestic banks. Furthermore, senior officials from the bank’s Bangladesh and regional offices have met the Bangladesh Bank governor to outline their potential plans. Clarifying the nature of the potential move, a senior banker, speaking on condition of anonymity, noted that Standard Chartered is not exiting Bangladesh entirely. Instead, it plans to offload or wind down its retail banking portfolio, which encompasses savings and current accounts, debit and credit cards, personal and home loans, ATMs, and mobile banking, while maintaining its core corporate and institutional banking services. Currently, Standard Chartered's retail banking division in Bangladesh holds an estimated deposit portfolio of nearly Tk 16,000 crore and a loan portfolio of around Tk 10,000 crore. Its extensive base of high-net-worth customers, premium reward cards, Islamic banking offerings, and specialised NRI banking services make the acquisition particularly lucrative for domestic players. City Bank, which currently holds around Tk 45,000 crore in individual deposits and Tk 12,000 crore in consumer loans, stands to significantly boost its consumer market share if the deal goes through.  Meanwhile, BRAC Bank – boasting over Tk 53,000 crore in retail deposits and Tk 14,000 crore in consumer loans – has also expressed strong interest.  Officials from both banks confirmed participating in preliminary discussions, noting that any final deal remains subject to valuation, due diligence, and regulatory approvals. The multinational bank has previously scaled back or exited retail operations across several markets in Africa, the Middle East, Asia, and Sri Lanka. If finalised, the transition will mark another major portfolio handover in Bangladesh's banking history, following similar historical transitions by BCCI, Credit Agricole Indosuez, and ANZ Grindlays, as well as HSBC's decision to exit local retail banking in 2025. The future of retail employees, branch networks, and technological infrastructure will form a critical part of any potential acquisition agreement. While operations continue as normal, customer retention will ultimately depend on client consent and regulatory guidelines once a buyer is finalised. When contacted, Country Head of Corporate Affairs, Brand & Marketing at Standard Chartered Bangladesh Bitopi Das Chowdhury dismissed the market discussions as speculation, stating the bank does not comment on rumours. "We regularly review the effectiveness of our global business model. When necessary, steps are taken to further concentrate resources and investments in areas where we have distinctive capabilities to serve our clients," she said. Reaffirming the bank's commitment to the country, Bitopi said, "Standard Chartered is a global super-connector with roots in Bangladesh spanning over 120 years. We remain fully committed to Bangladesh, and our day-to-day banking services and operations continue as normal.”

The Commerce Ministry has begun drafting a dedicated roadmap to address the challenges facing Bangladesh's leather and footwear industry, tap into the domestic market and boost exports, Commerce Secretary Ataur Rahman Khan said Thursday. "The draft will be published on the ministry's website to gather feedback from stakeholders," he said addressing the inaugural ceremony of the 10th Bangladesh Leather and Footwear Expo 2026 as chief guest at the International Convention City Bashundhara (ICCB) in Dhaka. The secretary said a high-level committee, chaired by the commerce minister, has been formed for the overall development of the leather sector. In line with the prime minister's directive, the ministry is preparing a work-oriented roadmap for the industry, he said, adding that the real-life experiences and needs of tannery owners, manufacturers, traders and technologists will be reflected in it. Highlighting the sector's potential, the secretary said raw materials for the industry are available locally and the capacity of the country's technologists has grown. "Besides encouraging people to use locally made leather goods, there is scope to expand exports in the international market." Pledging government support to help exporters meet buyers' requirements and standards, he said entrepreneurs must be provided with the necessary information and assistance on environmental and social compliance, technological capacity and global market demand. To that end, the ministry is working on a responsible business conduct framework and a national traceability framework, he said. "There are also plans to introduce separate traceability systems for priority sectors." Stressing stronger industry-academia collaboration to boost research, Ataur said students and researchers of leather technology need to be connected more effectively with tannery owners and entrepreneurs. "Efforts will be made to include the issue in the roadmap." Organisers said leather is Bangladesh's second-largest foreign currency earner after the ready-made garment (RMG) industry, with strong prospects for entering new markets and consolidating its position in existing ones. However, they said, proper planning and special initiatives are needed to realise that potential. Besides processed leather, Bangladesh exports footwear, travel bags, belts and wallets, while fashion accessories made of leather are also in demand. Many local handicraft firms are shipping such products abroad. Alongside larger manufacturers, the country has around 5,500 small footwear factories. Bangladesh ranks eighth globally in footwear production and ninth as a consumer market. The country produces an estimated 270 million square feet of leather annually, most of which is exported, while the rest is used by the domestic leather goods industry. Bangladeshi leather is primarily shipped to Italy, South Korea, Japan, China, Hong Kong and Taiwan. Domestic demand for footwear is also rising fast, organisers said. Local companies are receiving production orders from renowned global brands, prompting many leather and leather goods makers to expand their businesses. The expo is being organised jointly by the Bangladesh Tanners Association (BTA), the Leather Engineers and Technologists Society, Bangladesh (LETS'B) and Limra Trade Fairs and Exhibitions Pvt Ltd. The three-day event runs until September 26 at ICCB, open daily from 10am to 7pm. More than 250 reputed local and foreign companies are taking part.

Asian shares traded mixed in early Thursday trading as investors assessed recent movements in oil prices and the US bond market, while also watching currency fluctuations. Japan's benchmark Nikkei 225 rose 1.3% to 65,883.41 in morning trading, helped by gains among some chipmakers amid continued interest in artificial intelligence. Australia's S&P/ASX 200 fell 0.7% to 8,700.50. Hong Kong's Hang Seng Index declined 0.5% to 24,715.95, while the Shanghai Composite slipped 0.8% to 3,902.33. South Korean markets were closed for the Chuseok autumn harvest holiday. In energy trading, US benchmark crude fell 0.82% to $91.40 a barrel, while Brent crude, the international benchmark, dropped 0.83% to $102.22 a barrel. Brent prices remain well above the roughly $72 a barrel recorded before the war with Iran began. Investors remain concerned that the conflict could disrupt oil supplies in the Middle East for an extended period. Talks between US and Iranian officials are continuing through mediators, but no concrete agreement has emerged so far. US bond yields pressure Wall StreetWall Street came under pressure Wednesday as a stronger-than-expected economic report raised fresh concerns about inflation and pushed US Treasury yields higher. The S&P 500 fell 0.8%, after ending the previous session just 0.4% below its record high set last month. The Dow Jones Industrial Average dropped 352 points, or 0.7%, while the Nasdaq composite fell 1.1% from its record level. The yield on the 10-year US Treasury rose to 5.10% from 4.96%, a significant move in the bond market. Higher bond yields can weigh on stocks and other investments while also making borrowing more expensive, which can slow economic activity. The 10-year yield briefly reached nearly 5.14% on Wednesday, returning to levels last seen in 2007, before the global financial crisis sent borrowing costs sharply lower. Yields have risen in recent weeks amid concerns about persistent inflation, the US government's large debt burden and other economic risks. Inflation worries intensified after a preliminary report indicated that US business activity had grown at its fastest pace in more than five years. US inflation has remained elevated, prompting the Federal Reserve to raise its short-term interest rate last week for the first time in three years. Fed Gov. Michael Barr said in a speech this week that further rate increases “are likely to be needed” to bring inflation down to the central bank's 2% target. Yen remains weakThe Bank of Japan recently raised its benchmark interest rate in an effort to support the Japanese yen. However, the move had largely been expected by investors, limiting its impact on the currency. A weaker yen puts additional pressure on Japan because the country relies heavily on imported oil, particularly when global energy prices are high. In currency trading, the US dollar slipped to 157.94 yen from 158.30 yen. The euro was little changed at $1.1382, compared with $1.1388. In US markets, the S&P 500 fell 58.61 points to 7,706.03. The Dow dropped 352.10 points to 51,511.59, while the Nasdaq composite declined 308.24 points to 26,936.04.