United News of Bangladesh

The term for the first Bangladesh Government Investment Sukuk, valued at Tk8,000 crore, which was issued against the "Safe Water Supply Across the Country" project, has been extended by an additional five years. Bangladesh Bank in a press release on Sunday informed this information. The five-year Sukuk was originally set to mature on December 29, 2025. Following this new decision, the bond’s next maturity date will be December 29, 2030. The decision to extend the term was made to protect the interests of the Sukuk holders and ensure adherence to Shariah principles. The extension was based on the recommendation of the Shariah Advisory Committee, formed under Bangladesh Bank's Debt Management Department, and the approval of the government's Cash and Debt Management Committee (CDMC). All necessary ancillary documents for the extension were approved during a meeting of the Shariah Advisory Committee held at Bangladesh Bank's Head Office on Sunday (November 30). For the extended period, the government will provide a total of Tk3,804 crore as rent for the use of the leased Sukuk assets. While the calculated annual rental rate is set at 9.51 percent, the current effective rate stands at 4.69 percent. Investors will receive this rent proportionally on a semi-annual basis. During the extended term, investors have the choice to either retain their Sukuk holdings or opt for encashment. Any investor who chooses not to continue their investment beyond the original term can submit an application through their respective banks to the ‘Special Purpose Vehicle’– Islamic Securities Section (Debt Management Department) of Bangladesh Bank. These investors will be able to liquidate their Sukuk on the original maturity date of December 29, 2025. Bangladesh Bank stated that detailed instructions regarding the encashment process will be communicated to the concerned parties shortly.

Bangladesh has recorded a substantial inflow of remittances, totaling US $2.68 billion in the first 29 days of November, according to an updated report released by the Bangladesh Bank (BB) on Sunday. The strong performance brings the cumulative remittance sent by overseas Bangladeshi workers for the current fiscal year FY 2025-26 to $12.83 billion (July to November 29, 2025). The daily average remittance inflow for the first 22 days of November stands at approximately $92.44 million. The central bank's updated figures provide a breakdown of how the $2.83 billion. Of which private sector banks received $1.87 billion, state own banks $516.94 million, specialize banks $279.57 million and foreign banks $5.55 million. The $12.83$ billion cumulative figures for FY 2025-26 represents a notable 15.8 percent growth July to November 29, 2025, compared to the corresponding period in the previous fiscal year (FY 2024-25), during which $11.09$ billion was received. Bangladesh Bank's data highlights a consistent and strong flow of remittances in recent months. In July expatriates sent $2.48 billion remittance, August $2.42 billion, September $2.68 billion, October $2.56 billion, The sustained high remittance flow is a crucial factor supporting the country's foreign exchange reserves and providing stability to the economy.

NAMSS Motors Limited, the sole official distributor of China’s leading e-vehicle brand Huaihai scooters in Bangladesh, has announced special discounts for journalists on its electric bike lineup. Director of the company Mokammel Hossain Evan announced the discount offer during the Family Day event of the Dhaka University Mass Communication and Journalism Alumni Association (DUMCJAA) held recently at Narayanganj’s Zinda Park. “Media professionals play a vital role in promoting eco-friendly technologies and raising public awareness. They work under constant challenges, and this special offer is meant to acknowledge their contribution while encouraging the use of electric vehicles,” Evan said. Under the scheme, journalists will receive cashback on three popular EV models— Tk 6,000 on the Sparky, Tk 5,000 on the E-Thunder, and Tk 4,000 on the EcoRide. According to NAMSS Motors, all working journalists are eligible for the discount upon presenting a valid press ID and proof of membership from any registered journalist association. Huaihai Global, an international brand with 47 years of experience, currently exports two- and three-wheel EVs to more than 120 countries. In Bangladesh, NAMSS Motors serves as the exclusive distributor, operating assembly, sales, and after-sales services across 41 districts. The company aims to make electric vehicles an affordable, eco-friendly, and reliable mode of transport for the masses.

The Interior Designers Association of Bangladesh (IDAB) on Saturday organized the prestigious “IDAB Excellence in Interior Design Award 2024” to highlight and honor the excellence of the country’s interior design profession for the first time in Bangladesh in four award categories. The grand award ceremony took place this evening at Hotel InterContinental, Dhaka with the presence of leading consultants from the architecture and interior design sectors, award recipients, and institution heads. In the opening address, IDAB President Syed Kamrul Ahsan stated that Bangladesh’s interior design landscape is expanding rapidly, integrating creativity, modern design thinking, and local heritage to reach international standards. Award Committee Chairman Shafiul Islam delivered a presentation on the competition’s objectives, evaluation framework, and judging criteria while Jury board representative and eminent interior designer Nasreen Zameer also shared her remarks. Special guest speakers included the President of the Institute of Architects Bangladesh (IAB), Architect Dr. Abu Sayeed M Ahmed; Chief Architect of the Department of Architecture, Md. Asifur Rahman Bhuiya; and Head of the Department of Architecture at BUET, Dr. S M Najmul Imam. The event’s Chief Guest, renowned architect Shamsul Wares, emphasized the importance of advancing the creativity of young designers on the global stage and stressed the need for structured growth of the industry. This year’s competition featured four categories—Residence, Corporate, Hospitality, and Retail—and the awards were presented by distinguished guests including Architect Shamsul Wares, IDAB President Syed Quamrul Ahsan, Architect Dr. Abu Sayeed M Ahmed, Dr. S M Najmul Imam of BUET, Rubana Sadia Alam of Shanto-Mariam University, Dr. MD. NAWROSE FATEMI of APU, Dr. Masudur Rahman of Southeast University, Masud Parvez Country Director of Gasdom, Ismail Hossain of Swish, KSM Minhaj, CEO of Asian Paints, and Rashedur Rahman the Managing Director of Marble De Carrara (Pvt.) Ltd., Md. Naimul Hossain Khan CEO of Wood Tech Recognitions across the categories were: Residence Category—First Prize Sarawat Iqbal Tesha, Monon Bin Yunus, Rajib Ahmed, Second Prize Sued Mahmud Hossain, Rafid Reasad and MD. Sibat Ahnaf, Third Prize Erena Khan Mumu; Corporate Category—First Prize Architect Daniel Haque, Second Prize Architect Nazirur Islam, Third Prize Sarawat Iqbal Tesha, Monon Bin Yunus and Rajib Ahmed; Hospitality Category—First Prize Architect Fatiha Polin, Second Prize Rafia Mariam Ahmed, Third Prize Khan Zahidul Islam; and Retail Category—First Prize Architect Mahmudul Anwar Riyaad, Second Prize Farheen Alia, Third Prize Rafia Mariam Ahmed. The event concluded with a captivating musical performance by the popular Bangladeshi band “Joler Gaan,” followed by a formal dinner.

Jamaat-e-Islami Ameer Dr Shafiqur Rahman on Saturday stated that a sustainable political and social atmosphere in Bangladesh is the primary requirement for both foreign and domestic investors. Shafiqur made the remarks at the third session of the Bangladesh Economic Summit 2025, organised by Bangla Daily Bonik Barta, at a hotel in Dhaka. He presided over the session titled "Fairness in the Economy." The editor of Bonik Barta Dewan Hanif Muhammad moderated the session. He shared that his discussions with foreign and local entrepreneurs reveal that despite incentives like cheaper labour, tax exemption facilities, and profit assurance, investors remain hesitant due to a lack of trust regarding the guarantee of security. The Jamaat Ameer said that many countries are ready to invest once a peaceful political and social environment is restored, but entrepreneurs are simultaneously seeking corruption-free government services, arguing that corruption is significantly keeping the country backward for investment. Criticizing the current tax system, Dr. Shafiqur pointed out that both the rich and the poor contribute to the economy, stating, "Even a beggar pays tax when he buys something from a shop. A newborn baby also pays tax when someone purchases a product for the child." He further claimed that the non-citizen-friendly tax system often leads to harassment by tax officials. Rahman asserted that the economy cannot move forward unless fairness and equal opportunity are ensured for all, which requires skilled and honest individuals in every service sector. Dr. Shafiqur called for a reform of the education system, shifting it from being "certificate based to work and skilled based." He also highlighted that the burden of repaying foreign loans is shared equally by all citizens, from babies to the elderly, which underscores the need for an economic system rooted in fairness. The inequality, corruption, and lack of proper planning, he noted, are preventing Bangladesh's human resources from becoming a true national asset. He specifically mentioned the issue of brain drain, where talented Bangladeshis settle abroad because they feel their skills are not valued in their own country. The Jamaat ameer identified three priority areas for national progress: a reformed education system to produce skilled manpower, strong action against corruption at all levels, and justice for all. He concluded that ensuring these three areas will stabilize society and allow the country to move forward, emphasizing that real change demands a firm commitment. Md. Shafiullah, a retired senior secretary and Jamaat finance wing leader, also presented the organization’s financial sector work plans should they be able to form the next government through the national election.  

Industrial stagnation and shrinking private investment have caused 14 lakh people to lose jobs, leaving them “wandering on the streets without employment,” Ha-Meem Group Managing Director and former FBCCI president A.K. Azad said on Saturday. Speaking at the opening session of the Bangladesh Economic Conference 2025 at Hotel Sonargaon in the capital, he said the country is failing to create new jobs despite the growing labour force. The event was organised by Bonik Barta. “Every year, 30 lakh people enter the job market. Of them, 1.2 lakh are recruited in government and semi-government agencies, 8 lakh go abroad, and 10 lakh get jobs in the private sector. The rest remain unemployed. But new employment is not being generated as expected, which is pushing unemployment further up,” he added. Referring to Bangladesh Bank’s bulletin published on November 23, Azad said the country’s GDP growth was 4.22 per cent last year, which is expected to decline to 3.97 per cent this year. He also pointed to rising classified loans, noting that although the central bank reports the figure at 24 per cent, “the actual number is much higher.” “To pay dividends to shareholders, many banks engage in window dressing. If loans are classified, the money has to be provisioned, which reduces their profits. If we consider the real figure to be around 35 per cent, we must find out where the money went and who took it. We expect the next government to investigate and bring those responsible under the law,” he said. Azad criticised the strict contractionary monetary policy implemented by the central bank governor, saying higher interest rates have severely squeezed the private sector. “We received only 6 percent credit (credit growth). Industrialization is in a very bad state. Capital machinery imports fell last year, and this year they declined a further 26 per cent,” he added. The former independent MP said the government is struggling to cover expenses from revenue and has been borrowing heavily from banks to pay salaries. “Government borrowings from banks have reached 27 percent,” he noted. Azad also expressed deep concern over the growing energy crisis. He said Bangladesh has 7.80 trillion cubic feet of gas reserves, while annual demand is 3,800 million cubic feet. “Thirty percent of this demand is met through imports and 70 percent from reserves. As a result, reserve levels are declining by 9 percent each year.”  “At this rate, gas reserves may run out within 6–7 years, leaving us entirely import-dependent. Investors are worried about this scenario,” he said. BSSMA President and GPH Group Chairman Mohammad Jahangir Alam, Bangladesh Institute of Development Studies Director General Prof. A.K. Enamul Haque, and ABB Chairman and City Bank Managing Director Mashrur Arefin also spoke at the session. Bangladesh Bank Governor Dr. Ahsan H. Mansur chaired the inaugural session, while Bonik Barta Editor and Publisher Dewan Hanif Mahmud moderated the discussion.

Bangladesh is hoping to showcase its potato industry and attract critical investment at the ‘Potato Festival 2025’. The event is scheduled to begin at the International Convention City Bashundhara (ICCB) in Dhaka on December 12, 2025. The announcement was made by Mostofa Azad Chowdhury Babu, President of the Bangladesh Cold Storage Association (BCSA), at a press meeting titled “Potato Festival 2025 – Meet The Press” at the BCSA office in the capital on Saturday. Babu emphasized that the festival is expected to play a crucial role in introducing Bangladesh's potato industry to the global arena. The event aims to showcase modern technologies and expand both local and international investment and export opportunities. He highlighted the strategic planning for the diversified use of potatoes, its significant export potential, the need for modern preservation technologies, and the expansion of the potato processing industry in Bangladesh. Despite Bangladesh ranking 7th in the world and 3rd in Asia in terms of potato production, speakers at the event noted that the country has yet to fully utilize its true potential. This shortfall is largely attributed to the lack of adequate modern storage systems, processing technologies, and export-friendly infrastructure. The international exhibition will feature participation from hundreds of domestic and foreign organizations. These participants represent a comprehensive cross-section of the industry, including those involved in potato production, storage, and processing, value addition and export, cold-chain technology and agricultural machinery, and food innovation and culinary arts. The press meeting was also attended by BCSA Senior Vice President Eshtiaque Ahmed, Vice President Mohammed Younus, Managing Director of Postmaster Communication Faizul Alam, and other leaders of the Association.

Bangladesh Bank Governor Dr Ahsan H Mansur on Saturday said the new commercial bank, formed through the merger of five Shariah-based banks, is set to be officially launched this week. The Governor made the remarks while speaking as the chief guest at the ‘4th Economic Summit’ held at a city hotel on Saturday. Vernacular daily Bonik Barta organised the summit titled ‘Economies’ Future Trajectory and Political Commitment’. Dr Mansur emphasised the significant economic challenges facing the current government, noting that future elected governments must fully comprehend these ‘accumulated problems’. To ensure good governance, he said, the next elected government must guarantee the full independence of the central bank. Bangladesh Bank orders pay cuts for Sammilito Islami Bank’s employees The Governor also advocated for a separate salary structure for Bangladesh Bank employees to ensure effective governance, monitoring, and supervision, pointing out that approximately 130 countries have already adopted this global practice for their central bank staff. Dr Mansur highlighted the urgent need to develop the bond market and capital markets for sourcing long-term industrial investment. “Banks cannot be the only source for industrial investment. When it happens, defaulted loans will shoot up. In Bangladesh, it is happening now,” he warned. In a significant announcement for the business community, the Governor said Bangladesh Bank has withdrawn all restrictions and barriers on opening Letters of Credit (LCs). There are now enough US dollars in banks, allowing businesses to open LCs for any amount, he mentioned. Dr Mansur noted a curious trend: despite the removal of restrictions, the monetary volume of LC openings has decreased while the quantity of goods imported has increased. He attributed this change to the central bank's actions in stopping money laundering through over-invoicing of imported goods. The event also featured speeches from other prominent figures, including Director General of BIDS Professor Dr AK Enamul Haque, Chairman of Ha-Meem Group AK Azad, CEO of City Bank Masrur Arefin, and President of BSMA and Chairman of GPH Group Mohammad Jahangir Alam.  

The President of the Bangladesh Chamber of Industries (BCI), Anwar-ul-Alam Chowdhury Parvez, on Thursday strongly contested the narrative that primarily blames business owners for the staggering rise in Non-Performing Loans (NPLs), arguing that the entire responsibility should not be placed on them. Speaking at the Policy Research Institute (PRI)’s 'Monthly Macroeconomic Insights' seminar, Parvez stated, "The business environment is currently not entrepreneur-friendly. To pay off previous debts, entrepreneurs are being forced to take out new loans, which further increases the risk of default." He specifically pointed to a recent policy change in loan classification as a major factor contributing to the NPL spike. "Previously, the classification period for a loan was six months. Now, it has been reduced to three months. Consequently, any loan not repaid within three months is now immediately classified as non-performing," he said. The BCI President’s remarks came as the keynote paper, presented by PRI Chief Economist Dr. Ashikur Rahman, revealed the alarming scale of the financial crisis. Dr. Rahman reported that the country’s current volume of non-performing loans stands at Tk 6.44 lakh crore, which is approximately 36 percent of the total outstanding loans. Furthermore, he warned that the total volume of distressed assets in the banking sector could reach Tk 9.50 lakh crore, underscoring significant weaknesses in asset recovery mechanisms. Dr. Rahman cautioned that a high NPL volume could lead to a future "credit crunch" and negatively impact overall investment. To stem the rising tide of defaults, business leader Parvez urged the government to improve the country's business climate by focusing on key structural issues. He called for-improving the law-and-order situation, resolving the persistent energy crisis, stopping the 'mob culture and ensuring consistent policy support for entrepreneurs. He warned that "NPLs will increase further" if these fundamental issues are not solve immediately. The seminar, which brought together business leaders and economists, was chaired by PRI Chairman Dr. Zaidi Sattar. Dr. Zaidi Sattar, Chairman of PRI, chaired the event. In his remarks, Dr. Sattar highlighted that, “The rising REER index since May should be concerning to the exporter community as it indicates erosion of competitiveness. Bangladesh Bank can no longer purchase dollars from the market to depreciate the taka; therefore, loosening import restrictions is the only viable option. This would also benefit exporters. More vibrant imports would support better exchange-rate management under the current flexible regime and contribute to a more dynamic export environment.” The discussion featured insights from a distinguished panel comprising Dr. Nasiruddin Ahmed Former Chairman, National Board of Revenue (NBR), Dr. AKM Atiqur Rahman, Professor, North South University, Dr. Wasel Bin Shadat, Research Director, BUILD, and Amrita Makin Islam, DMD, Picard Bangladesh Limited, Director, LFMEAB. Dr. Wasel mentioned, “Compliant taxpayers are being penalized, which goes against the principle of tax justice. This is one of the main reasons why 85 percent of the economy remains informal.” Moreover, election manifestos across political parties fail to address the economic situation with sufficient seriousness, he said. Dr. Nasiruddin Ahmed argued that tax policy should be formulated by politicians and the business community rather than bureaucrats, some of whom he believes contribute to the problem. He also highlighted employment and the lack of quality, job-oriented education as major national concerns that the next government must address. Atiqur Rahman noted that without the July mass uprising, the true scale of rising NPLs would have remained hidden, raising doubts about the economy’s ability to sustain itself. He emphasized the urgent need for export diversification beyond RMG, warning that potential Trump-era tariffs and a Real Effective Exchange Rate (REER) above 6 percent are already weakening competitiveness.

Bangladesh Bank has ordered a reduction in the salaries of employees from the five banks that have been merged to form the new 'Sammilito Islami Bank' (Combined Islamic Bank). Sammilito Islami Bank’s Assistant Spokesperson Shahriar Siddiqui on Thursday said, "The decision to cut the salaries of employees of the five banks included in the new Sammilito Islami Bank was taken while allocating Tk350 crore in liquidity support." He explained that the salaries of the banks' employees depend on the depositors' funds, citing an example, "Last year, First Security's income was negative. Yet, they paid salaries amounting to Tk650 crore from depositors' funds. Employees of FSIB and SIBL are currently able to withdraw only a portion of their salaries." The Governor has instructed the swift implementation of this measure due to the banks' severe liquidity crisis and financial irregularities. The spokesperson, however, clarified that this decision is part of the restructuring process and is temporary. Once the situation normalises, the officials will receive market-based salaries, he added. Earlier, on November 5, Bangladesh Bank declared five financially troubled Shariah-based banks as ineffective and appointed administrators. The banks are: Exim Bank, Social Islami Bank, First Security Islami Bank, Union Bank and Global Islami Bank. Later, on November 9, the central bank's board, chaired by Governor Dr Ahsan H Mansur, granted a preliminary license during a special online meeting to the new Shariah-based state-owned bank, 'Sammilito Islami Bank,' to operate after merging the five weak banks.