United News of Bangladesh

Bangladesh’s remittance inflow reached US$1.96 billion in the first 18 days of April, showing a continued upward trend and is projected to surpass $3.0 billion by the end of the month. According to the latest data from Bangladesh Bank (BB), expatriates sent $1.96 billion during April 1–18, compared to $1.69 billion during the same period last year. This represents a 16.2 percent year-on-year increase for the period. In the current fiscal year (FY2025–26), total remittance inflows from July to April 18 stood at $28.17 billion, up from $23.47 billion in the same period of FY2024–25. This reflects a growth of around 20 percent year-on-year. Analysts and central bank officials attribute this strong and ‘unusual’ growth to several factors, including a more stable US dollar exchange rate, higher incomes of expatriates in developed economies, and a steady global economic recovery. Officials from the Finance Ministry and Bangladesh Bank expressed optimism about the trend, noting that the sustained rise in remittance inflows will help ease foreign exchange pressures and support stability in the country’s currency market.  

Employees of six Shariah-based banks, who were terminated and affected during the interim government period, formed a human chain in the capital’s Motijheel area on Sunday to press for a six-point demand, including their immediate reinstatement. The other demands are an immediate end to false allegations, harassment, and discriminatory behaviour; ensuring transparency and merit-based processes in all appointments and promotions; an absolute end to political interference in the banking sector; formation of an independent and neutral judicial inquiry commission to investigate these irregularities; and taking legal action against those involved in these illicit activities. “We do not seek conflict, we seek justice. We do not want chaos, we want good governance,” the protesters said in a written statement, underscoring that their movement remains peaceful but resolute. The protest was held at 10:00am in front of the head office of Islami Bank Bangladesh PLC, where participants alleged that nearly 10,000 banking professionals have, over the past several months, been systematically subjected to dismissal, forced transfers, and harassment under the influence of an “organised political group”. In the statement, the protesters said the campaign primarily targeted employees of Islami Bank, First Security Islami Bank PLC, Union Bank PLC, Al-Arafah Islami Bank PLC, Social Islami Bank PLC, and Global Islami Bank PLC. They claimed that human resource policies were disregarded, with recruitment and promotions influenced by political affiliations, while competent and experienced employees were sidelined, harassed, and ultimately forced out. The protesters described the situation as a “deliberate and retaliatory purge,” alleging that many were served with vague or fabricated allegations, subjected to arbitrary transfers, and exposed to sustained mental and physical pressure before being removed from their positions. They called it a development “without precedent in the history of Bangladesh’s banking sector.” According to those affected, the impact has been devastating as thousands of families now face deep uncertainty, as the sudden loss of income has disrupted not only livelihoods but also long-term financial stability and social standing. The protesters vowed to continue their “peaceful” movement until their demands are met, and urged the media to bring the issue to the forefront of national attention.  

Metropolitan Chamber of Commerce and Industry (MCCI) President Kamran T Rahman on Sunday called for a "supportive and growth-oriented" national budget for fiscal year 2026-27, warning that businesses, particularly small and medium enterprises, are under severe strain from high inflation, sluggish investment, elevated interest rates and foreign exchange pressure. Speaking at a joint seminar of MCCI and the Economic Reporters' Forum (ERF) on budget priorities, he said the upcoming budget must be balanced and realistic, arguing that a sensible tax policy can simultaneously boost revenue, encourage investment and generate employment rather than punish businesses further. Private sector-led growth vital to revive Bangladesh’s economy: MCCI report Kamran proposed full integration of the National Identity (NID) and Tax Identification Number (TIN) databases to expand the tax net, noting that though over one crore taxpayers hold TINs, fewer than half file returns. He also recommended introducing a symbolic minimum tax to bring new taxpayers into the fold and simplifying return filing through mobile applications. The MCCI chief urged the government to reconsider conditions tied to corporate tax benefits, especially restrictions on cash transactions, saying many businesses are unable to avail themselves of reduced rates due to practical limitations. He further suggested cutting tax rates for both listed and non-listed companies by an additional 2.5% to stimulate investment. Kamran proposed a unified taxpayer profile covering income tax, VAT and customs to reduce administrative complexity and harassment, along with online hearings and digital notices to cut time and cost for businesses. On VAT and customs, he recommended simplifying procedures, ensuring valuation based on transaction value, strengthening automation and allowing disclosure of quantity instead of value in certain VAT forms to protect business confidentiality. The MCCI President called for special policy support for SMEs, including separate tax treatment, input tax credit facilities and reduced duty and VAT on raw materials. Comprehensive reform roadmap presented The policy recommendations were formally presented by Md Shahadat Hossain, former President of Institute of Chartered Accountants of Bangladesh (ICAB) through a paper titled “National Budget 2026-2027: Private Sector Priorities & Perspectives”, which laid out a wide-ranging roadmap covering corporate tax, VAT, customs and capital market reform. Shahadat said the national budget should be seen not merely as a revenue-and-expenditure statement but as a comprehensive policy framework encompassing economic growth, investment, employment and inflation management. He flagged Bangladesh's tax-to-GDP ratio hovering between 6.5% and 7.3% in FY2024-25 as among the lowest globally, well below the 15% threshold considered necessary for sustainable development. Shahadat noted that around 66% of total tax revenue comes from indirect taxes, disproportionately burdening lower-income groups and widening inequality. On corporate tax, the paper recommended rates of 20% for publicly traded companies with a minimum 10% IPO, 22.5% for those with less than 10% IPO, 25% for non-publicly traded firms, 20% for one-person companies, and 25% for trusts, associations of persons and firms. For individuals, it proposed a tax-free threshold of Tk 5 lakh, with graded rates from 5% to 30% on higher income slabs. The paper also called for rationalising withholding taxes, including a 0.3% tax on gross receipts, TDS on supply between 1% and 3%, and import-stage tax reduced from 5% to 3% to ease compliance and prevent double taxation. On administration, the recommendations included limiting reopening of tax files to within six years, prohibiting estimated profit assessments, mandating written reasons for disallowances, and digitising hearings and notices. On capital markets, the paper stressed reducing overdependence on bank financing and proposed tax exemptions on zero-coupon bond investments, tax-free capital gains on treasury instruments in secondary markets and removal of the super tax on stock dividends. Shahadat concluded that Bangladesh stands at a critical juncture, and that a budget reflecting private sector priorities will broaden the tax base, reduce compliance burden, attract investment and strengthen investor confidence.

Dhaka Chamber of Commerce & Industry (DCCI) has signed Memoranda of Cooperation (MoCs) with three leading Chinese business chambers to strengthen bilateral relations and expand trade and investment cooperation. The agreements were signed on Saturday in Guangdong, China, with the Guangdong Chamber of Commerce of Importers & Exporters (GDCCIE), the China Chamber of Commerce for Import and Export of Machinery and Electronics Products (CCCME), and the Guangzhou Chamber of Commerce for Outbound Business, according to a DCCI press release. DCCI Senior Vice President and delegation leader Razeev H Chowdhury signed the MoCs on behalf of the chamber, while representatives of the respective Chinese organisations signed for their sides. As part of the visit, DCCI delegation members also joined the “Trade Bridge–Bangladesh Matchmaking Event” held at the China Foreign Trade Centre during the 139th Canton Fair, where they participated in B2B meetings with around 270 Chinese companies. Speaking at a business session, Razeev said China remains a driving force in global trade and a major source of Bangladesh’s imports, which stood at around $18 billion in the last fiscal year. He noted that China is the fifth-largest foreign investor in Bangladesh, with investments of about $1.7 billion across multiple sectors. Razeev highlighted significant opportunities for bilateral collaboration in agro-processing, infrastructure, renewable energy, shipbuilding, automotive, light engineering, semiconductors and other high-tech industries. Director of CCPIT Qiu said Nansha holds strategic geographic importance and recorded a regional GDP exceeding RMB 240 billion in 2025, offering strong prospects for joint ventures in industrial clusters including automobiles, shipbuilding and biomedicine. Guangdong Chamber President Wu Shaowei said Bangladesh could serve as a gateway for Guangdong-made products to South Asian markets and stressed the need to deepen business linkages. CCCME Vice President Shi Yonghong described the 139th Canton Fair as a major platform for global business engagement, noting that it would help strengthen connections between Bangladeshi entrepreneurs and Chinese manufacturers.

Economist and Distinguished Fellow at the Centre for Policy Dialogue (CPD), Dr. Debapriya Bhattacharya, has claimed that the trade agreement signed by the interim government with the United States undermines Bangladesh’s energy sovereignty. Speaking as the chief guest at a pre-budget shadow parliament debate organized by Debate for Democracy in the capital, Dr. Debapriya criticized the restrictive nature of the deal. “The trade agreement with the US is compromising our energy sovereignty. While the new government claims it will not pursue country-specific foreign policies, this agreement dictates from whom we can purchase oil. Requiring permission for such decisions is a direct hit to our independence,” he said. CPD executive director calls for 'comprehensive economic reforms' at PRI seminar

The DSE Brokers Association of Bangladesh (DBA) has signed a memorandum of understanding (MoU) with the Japan Securities Dealers Association (JSDA) aimed at fostering sustainable development, improving efficiency and strengthening international cooperation in Bangladesh’s capital market. The agreement was signed on April 9 by Takashi Hibino, chairman and CEO of JSDA, and Saiful Islam, president of DBA, on behalf of their respective organisations, according to a press release issued on Saturday. The MoU marks DBA’s first formal agreement with an international self-regulatory organisation (SRO), representing a significant milestone for the association and its efforts to strengthen Bangladesh’s capital market through global collaboration. Under the agreement, both organisations will work together in several key areas to support the development of the securities market. These include exchange of laws and regulations related to financial investment business and capital markets, development of governance frameworks, policy-making processes and operational practices of SROs, and strengthening supervision and compliance mechanisms. The cooperation will also focus on enhancing efficient and effective financial transaction systems, promoting innovation in new investment instruments and services, and expanding investor education programmes. Both sides also agreed to extend cooperation and consultation on other areas of mutual interest as required. Commenting on the agreement, DBA President Saiful Islam said the MoU represents a significant advancement for Bangladesh’s capital market. “Partnering with a well-established and experienced self-regulatory organisation like JSDA will play a crucial role in strengthening our market structure, governance and institutional capacity,” he said. The press release also noted that the Asia Securities Forum (ASF), established and operated by JSDA, is a prominent international platform for the securities industry in the Asia-Pacific region. Since becoming a member in 2023, DBA has been actively participating in various international meetings, seminars and initiatives organised by the forum, contributing to the development of Bangladesh’s capital market.  

Oil prices tumbled sharply and U.S. stocks surged to record highs on Friday after Iran announced that the Strait of Hormuz had reopened to commercial oil shipments. In New York, crude prices fell back to levels seen at the start of the Iran conflict, easing concerns over global supply. At the same time, Wall Street rallied strongly, with the S&P 500 rising 1.2% to a new all-time high, marking its third consecutive week of solid gains. The Dow Jones Industrial Average jumped as much as 1,100 points before settling up 868 points (1.8%), while the Nasdaq Composite advanced 1.5%. The market has rebounded more than 12% since late March, driven by hopes that the U.S. and Iran can avoid a severe economic fallout. Iran’s move to reopen the vital oil route—responsible for transporting a significant share of global crude—boosted optimism, although the reopening may be temporary. President Donald Trump also signaled that the conflict could end soon, further lifting investor confidence. Following the announcement, U.S. crude dropped 9.4% to $82.59 per barrel, while Brent crude fell 9.1% to $90.38. Despite the decline, prices remain higher than pre-war levels, reflecting ongoing uncertainty in the markets. However, sentiment remained fragile. Shortly after Iran’s statement, Trump clarified that the U.S. naval blockade on Iranian ports would continue until a full agreement is reached, even as he suggested a deal could come quickly. Lower oil prices fueled gains in sectors heavily dependent on fuel. Airline stocks rose sharply, with United Airlines and Southwest Airlines posting strong gains. Cruise operators such as Royal Caribbean and Carnival also climbed significantly. Other industries, including housing and automotive, benefited from expectations that easing energy costs could reduce inflation and lead to lower interest rates. Treasury yields declined, raising hopes for cheaper mortgages and loans, which in turn boosted homebuilders and car-related companies. A strong start to the corporate earnings season also supported the rally, with several financial firms reporting better-than-expected results. However, Netflix shares dropped nearly 10% despite solid profits, as investors were disappointed by its unchanged revenue outlook. Globally, European markets also posted strong gains following the news, while Asian markets, which had closed before the announcement, ended lower. Overall, the reopening of the Strait of Hormuz has lifted market sentiment, though uncertainty around the conflict and ongoing negotiations continues to influence investor behavior.  

The International Monetary Fund (IMF) has emphasized that Bangladesh requires extensive reforms across three critical sectors, including financial, fiscal, and foreign exchange. According to the global lender, significant work remains to be done in each of these areas to ensure economic stability. Krishna Srinivasan, Director of the IMF's Asia and Pacific Department, made these remarks on Thursday while responding to questions from Bangladeshi journalists at a press conference in Washington, D.C. The briefing was attended by media representatives from India, Nepal, Sri Lanka, and South Korea, among other nations. The briefing took place on the sidelines of the World Bank-IMF Spring Meetings, which commenced on April 13 and are scheduled to conclude on April 18. A 14-member Bangladeshi delegation, led by Finance and Planning Minister Amir Khosru Mahmud Chowdhury and Bangladesh Bank Governor Md. Mostaqur Rahman, is currently attending the meetings. Reflecting on his visit to Bangladesh on March 24, where he met with Prime Minister Tarique Rahman and the Finance Minister, Srinivasan shared his impressions of the new government's capacity for reform. "I visited Bangladesh and held meetings with the Prime Minister and other high-level officials. We discussed the challenges ahead," Srinivasan stated. "I noted that a government with a strong majority has the opportunity to undertake ambitious reform agendas. They have listened to our suggestions; now we must wait and see how they respond," he opined. The IMF Director expressed concern over Bangladesh's revenue collection performance. "In terms of revenue mobilization, Bangladesh has not performed well. It remains at a low level and has seen further deterioration over the last three years," he noted. Regarding the release of the next loan tranche, he mentioned that discussions are ongoing, and updates would be provided in due course. Highlighting the situation in Sri Lanka, Srinivasan pointed out that under its IMF-supported program, the country has made significant strides in increasing its tax-to-GDP ratio over the last three years, gradually building financial buffers. He noted that Sri Lanka is now in a relatively better position to support citizens affected by energy price shocks. Srinivasan warned that because Bangladesh has a small revenue base, the government faces greater pressure when trying to provide social safety nets. "The people of Bangladesh are suffering. Therefore, it is crucial that whatever resources Bangladesh possesses are utilized with maximum target-based efficiency," he urged. He advised Bangladesh to focus on increasing revenue collection while addressing other barriers in the financial sector to boost both short-term and long-term growth. Like other Asian nations, Bangladesh has been impacted by global energy shocks, and Srinivasan concluded that policy support and program discussions are active, with the outcome depending on how effectively these dialogues progress.

Bangladesh's agent banking revolution has a paradox at its heart; over the past decade, the country has built one of South Asia's most extensive agent banking networks over 21,000 outlets stretching from the river deltas of Barishal to the highland fringes of the Chittagong Hill Tracts, twenty-four million accounts have been opened, the majority by people in rural areas who had never held a bank account in their lives. But a new policy brief by the International Growth Centre (IGC) found that while agent banking in Bangladesh has significantly widened financial access over the past decade, major gaps remain in credit delivery and gender participation. The study, hosted by the University of Oxford and the London School of Economics and Political Science (LSE) and published recently, analysed more than 21,000 agent banking outlets across the country, offering one of the most comprehensive assessments of the sector to date. It highlights a “strong expansion but incomplete inclusion” narrative, where outreach has improved markedly but deeper financial intermediation, particularly access to credit remains limited. The agent banking model was introduced in Bangladesh in 2013 with a clear mandate: to extend financial services to communities beyond the reach of conventional bank branches, reducing operational costs by routing services through local agents. By 2016, the network had 2,601 outlets. By 2024, that figure had surged to over 21,000, a more than eightfold increase in under a decade. However, the report notes that this rapid physical expansion is beginning to plateau, suggesting the sector may be approaching saturation in terms of outlet growth. Future progress, it says, will depend more on improving service depth rather than increasing geographic coverage. Agent banking has also reshaped the country’s financial geography. Unlike traditional banking where Dhaka and Chattogram dominate agent banking has spread more evenly, with rural areas hosting significantly higher outlet density per capita. Despite these gains, the study flags a critical weakness: limited credit provision. As of December 2024, nearly two-thirds of agent banking outlets had no outstanding loans, indicating that most agents primarily facilitate deposits, withdrawals and remittance services rather than lending. “Without access to credit, financial inclusion remains incomplete,” the report notes, stressing that credit is essential for households to manage economic shocks and invest in income-generating activities. Although cumulative loan disbursement through agents reached Tk 240.3 billion by 2024, credit growth remains significantly lower than deposit mobilisation, with a loan-to-deposit ratio of 57.3 percent, indicating a continued gap in financial intermediation. The so-called “zero-loan phenomenon” is particularly acute in remote and structurally disadvantaged regions, including parts of the Chattogram Hill Tracts, where geographic and infrastructural challenges persist. The findings confirm that agent banking has developed a strong rural footprint, with significantly more outlets per capita compared to traditional bank branches in rural areas. Rural deposits have also grown steadily, indicating improved access to formal financial services. However, credit penetration in these areas remains comparatively weak. The report also finds that agent banking expansion often follows existing banking infrastructure, rather than independently targeting underserved or poorer regions, raising concerns about whether the model is fully addressing financial exclusion. Gender gap remains stark The study reveals a mixed picture on gender inclusion. While female participation as customers is rising women’s account ownership has been growing faster than men’s in recent years, the supply side remains overwhelmingly male-dominated. More than 92% of agent operators are men, leaving women significantly underrepresented in the delivery of financial services. This gap is not merely symbolic: female agents have been shown in multiple financial inclusion studies across South Asia to be more effective at reaching female clients in communities where social norms constrain women's interactions with male service providers. A network that is overwhelmingly male-operated may therefore be structurally limiting its own ability to deepen inclusion among the women it is nominally reaching as customers. This imbalance, the report suggests, may limit accessibility and trust for female clients in certain communities. With expansion slowing, the IGC urges policymakers to shift focus from scaling the network to strengthening its functionality. Key recommendations include incentivising banks to extend credit through agent outlets, deploying digital tools for credit scoring and loan processing, and adopting targeted strategies for underserved regions. The report also calls for stronger efforts to increase female participation in the agent network, including enforcing existing gender inclusion policies. “Bangladesh’s agent banking experience reflects strong outreach but incomplete financial deepening,” the study concludes, adding that the next phase must prioritise equitable and effective financial inclusion.

A three-day international exhibition titled “11th Safecon 2026” has begun in Dhaka to enhance international cooperation in the renewable energy and infrastructure sectors. The exhibition was inaugurated at the International Convention City Bashundhara (ICCB) the capital’s Kuril on Thursday. Organized by Savor International Limited, the exhibition will remain open to all visitors from 16 April to 18 April every day from 10 am to 7 pm, said a media statement. Postmaster Communication is serving as the Event Partner of the exhibition. The event was inaugurated by the Special Guest Mostafa Al Mahmud, President, Bangladesh Sustainable and Renewable Energy Association (BSREA).   Bilal Belyurt, Commercial Counsellor, The Embassy of Türkiye in Dhaka, Arefeen Raafi Ahmed, 2026 National President, JCI Bangladesh, Sunghoon Lee, Deputy Director, Korea Trade-Investment Promotion Agency (KOTRA), Wang Hongbo, Vice President, Chinese Enterprises Association In Bangladesh (CEAB), A.Z.M. Azizur Rahman, Senior Vice President, Bangladesh China Chamber of Commerce & Industry (BCCCI), and Md. Faizul Alam, Managing Director of Savor International Limited, were also present at the programme. The objective of the “11th SAFECON 2026” exhibition is to enhance facilities and opportunities in the infrastructure construction materials, water management, timber, engineered wood and technology, power industry sectors. “SAFECON 2026” serves as a business platform where companies from both local and international markets have the opportunity to showcase their products, technologies, and solutions, which will contribute to the development of the country’s infrastructure. The exhibition aims to strengthen B2B collaboration and the exchange of experience, and to inspire policymakers, engineers, entrepreneurs, and foreign investors involved in national development to explore new avenues for a progressive and sustainable future.  The event will play a significant role in expanding business networking, facilitating technology exchange, and creating new investment opportunities. It will also strengthen collaboration among policymakers, engineers, entrepreneurs, and foreign investors. A total of 400 stalls from more than 10 countries including Bangladesh, China, Korea, Turkey, India, Malaysia, and Singapore are taking part in the expo. The domestic and international companies related to infrastructure construction, power generation, renewable energy, water management, infrastructure equipment and machinery, timber, engineered wood, and technology are participating in the exhibition.