United News of Bangladesh

Onion prices in the capital’s retail markets have remained almost unchanged for a week, still selling at Tk 110–115 per kg, while hilsa has become increasingly unaffordable, with prices rising by up to Tk 500 per kg in just seven days. A visit to several wholesale and retail markets in on Friday showed that although the price of a 5-kg sack of onions has fallen slightly—from Tk 520 to Tk 500–510—the decline has not yet reflected on retail sales. Vendors said the price is unlikely to come down until new-season onions arrive in the market. The stocks of old onions are nearly exhausted and supplies at wholesale hubs are limited. Shariful Haque, a wholesaler at Uttar Badda onion market, said a maund (40 kg) of onions costs between Tk 3,600 and Tk 4,000, keeping the wholesale per-kg rate close to Tk 100. Meanwhile, hilsa prices have soared significantly over the past week. Retail prices have jumped by Tk 500–600 per kg, depending on size. Govt may allow onion imports if prices remain high this week In Rampura market, 600–800g hilsa is selling for Tk 1,200–1,600, up from Tk 800–1,000 last week. One-kg fish now cost Tk 3,000–3,200, compared to Tk 2,200–2,500 earlier.  Hilsa weighing over one kg has shot up to Tk 4,500–4,800 per piece, from Tk 3,500–3,800 last week. Imon, a hilsa seller at Rampura market, said supply at the wholesale level has dropped sharply.  “We aren’t getting fish like before, which pushed up the prices,” he added. Buyers expressed frustration over the surge. “If a single hilsa costs more than Tk 5,000, how can people afford to buy it?” said shopper Sanzid Hossain. “Not just hilsa—every fish price has gone up.” Across markets, rui, katla, and kalibaush are selling for Tk 380–450 per kg; shol for Tk 800–1,500 depending on size; poa for Tk 600–1,000; shing and magur for Tk 600–800; and tilapia for Tk 300–350. Vegetable prices have also increased, particularly for newly arrived winter produce.  Onion prices skyrocket in Dhaka; from Tk 70 to Tk 120 per kg Tomatoes are selling for Tk 120–150 per kg, cucumbers for Tk 80–120, and carrots for Tk 120–160. Eggplant costs Tk 100–120 per kg, barbatti Tk 80–120, and pointed gourd Tk 60–80. The prices of most vegetables have risen by Tk 20–50 per kg. Lemon supply has declined, with a large-sized set of four selling for Tk 50. Green chili prices have also surged from Tk 120–140 per kg last week to Tk 160–190 this week. Wholesalers said fewer trucks entered the markets on Thursday, disrupting supply chains and causing an immediate price spike in Friday’s market.

Dhaka stocks witnessed a sharp fall on the last trading day of the week, with the key index of the Dhaka Stock Exchange (DSE) dropping by 122 points, the second biggest single-day fall this year. At the end of Thursday’s session, the benchmark DSEX index slid 122 points to settle at 4,702. Earlier in the first week of May, the index had dropped by 150 points, the year’s biggest fall so far. The other two indices also ended deep in the red. The Shariah-based DSES index declined by 28 points to close at 976, while the blue-chip DS30 index fell by 47 points. Out of 384 issues traded, only 15 advanced, 17 remained unchanged and as many as 352 declined. Investors said they were ‘hit hard’ by the steep fall, adding that in the current market situation, “preserving capital has become a challenge, while profits are just a distant dream.” In the block market, shares worth Tk 19 crore were traded across 27 companies, with Simtex Industries PLC topping the list by offloading shares worth Tk 4.9 crore. The total turnover at the DSE stood at Tk 383 crore, up from Tk 290 crore in the previous session. Al-Arafah Islami Bank PLC topped the gainers’ chart with a 3.57 percent rise, while Miracle Industries Ltd suffered the steepest fall, losing 10 percent in value. The situation was even worse at the Chittagong Stock Exchange (CSE), where the CASPI index dropped 216 points. Of the issues traded, 20 advanced, 136 declined and 4 remained unchanged. The turnover also fell at the port city bourse to Tk 7 crore from Tk 9 crore in the previous session. Familtex (BD) Ltd emerged as the top gainer at the CSE with a 10 percent rise, while ICB AMCL 3rd Mutual Fund was the worst loser, shedding 10 percent.  

The government has announced its plan to pursue legal proceedings against those responsible for pushing five Shariah-based banks into financial distress, as authorities move forward with their merger to stabilise the sector. The Financial Division of the Ministry of Finance sent a letter recently to the Financial Institutions Division (FID) of the same ministry regarding the matter. The banks in question are First Security Islami Bank, Social Islami Bank (SIBL), EXIM Bank, Global Islami Bank and Union Bank. The letter instructs the FID to identify those accountable for the banks' troubles, including owners, members of the board of directors, relevant officials and loan defaulters, and to take legal action against them for overall mismanagement. Besides, the letter mandates the rapid recovery of the massive volume of non-performing loans (NPLs), investments, and assets of the five banks. The Financial Division's letter requests the FID to formally ask the Bangladesh Bank (BB) to take the necessary legal measures against the responsible parties. Arif Hossain Khan, Executive Director and Spokesperson for the Bangladesh Bank, told UNB that the central bank has already taken some initial steps and will take further necessary action upon receiving the formal request from the Financial Institutions Division. The five banks are being merged to form a new entity, the 'Sammilito Islami Bank' (United Islami Bank), which will be the country's largest bank. The new bank's paid-up capital will be Taka 35,000 crore, with the government contributing Tk 20,000 crore, and the remaining Tk 15,000 crore being converted from depositors' money into equity shares. FID Secretary Nazma Mobarek has been selected as the Chairperson of this new bank. The five banks hold deposits totalling Tk142,000 crore from 75 lakh depositors, against a combined loan portfolio of Tk 193,000 crore. More importantly, a staggering Tk147,000 crore, or 76 percent, of this portfolio is classified as non-performing. The non-performing loan situation is particularly dire: Union Bank has the highest NPL rate at 98 percent, followed by First Security Islami Bank at 97 percent, Global Islami Bank at 95 percent, SIBL at 62.30 percent, and EXIM Bank at 48.20 percent. Collectively, these banks operate 760 branches, 698 sub-branches, 511 agent banking outlets and 975 ATM booths nationwide.

The Bangladesh Bank (BB) has relaxed the eligibility criteria for commercial banks and financial institutions to participate in Tk 25,000 crore refinance schemes for the Cottage, Micro, Small, and Medium Enterprise (CMSME) sector. The move is a direct response to the banking sector's escalating rate of non-performing loans (NPLs). The new directive issued by the SME and Special Programs Department said that banks and financial institutions can now access the fund even if their total classified (defaulted) loans reach up to 20 percent of their portfolio. This is a significant change from the previous condition, which required institutions to maintain a classified loan ratio of less than 10 percent to be eligible for the scheme. The central bank's decision to raise the NPL ceiling comes after the government change last year, which led to the disclosure of a large volume of previously unpublicized defaulted loans across the banking sector. While the NPL limit has been adjusted, other key guidelines of the original circular remain unchanged. The central bank emphasizes the need to prioritize lending to: •Women entrepreneurs •Entrepreneurs with special needs •Entrepreneurs affected by disasters (such as river erosion, cyclones, floods, fire, or pandemics like COVID-19) The distribution limits are also strictly defined as production and service sector at least 70 percent, business and trading sector maximum 30 percent, cottage, micro and small entrepreneurs at least 75 percent, medium entrepreneurs maximum 25 percent. About the Refinance Scheme: The CMSME Term Loan Refinance Scheme was launched by the Bangladesh Bank in July 2022. The fund, established entirely by the central bank, allows banks and financial institutions to borrow money at a 2 percent interest rate. They are then permitted to lend this money to CMSME entrepreneurs at a maximum interest rate of 7 percent. The scheme has an announced duration of three years, but loans to customers can have a term of up to five years, including a grace period. The central bank has also noted that the size of the fund may be increased if necessary.

CEMS-Global USA and CEMS Bangladesh have inaugurated a major series of international trade exhibitions focusing on the construction, energy, and water sectors at the International Convention City Bashundhara (ICCB) in Dhaka. The three-day expos, taking place from 13 to 15 November, bring together hundreds of local and international exhibitors, along with thousands of visitors, to explore innovation and sustainability across key industries. The opening ceremony was presided over by Meherun N. Islam, President and Group Managing Director of CEMS-Global USA and Asia-Pacific. Dr. Engr Mohammad Giasuddin Haider, Director General of the Housing and Building Research Institute (HBRI); M. A. Kamal Billah, Additional Secretary, Ministry of Industries; Md. Mustafizur Rahman, Deputy Managing Director (Finance) (O&M), Dhaka Water Supply and Sewerage Authority (WASA); and Md. Tanvir Masud, Head of Project, Skills4SE, GIZ Bangladesh, attended as special guests. The exhibitions, running from 10:30am to 8pm daily, feature the 30th Build Bangladesh International Expo 2025 and the 24th Real Estate Expo 2025, marking the 30-year milestone of the Build Series. Over the past three decades, the Build Series has evolved into Bangladesh’s largest and longest-running platform for the construction industry, highlighting advanced materials, technologies, and modern housing solutions. Highlighting the contribution of the construction sector, Meherun N. Islam said that the expos play a vital role in driving industrial growth and promoting sustainable development. “For the past 30 years, CEMS-Global has been at the forefront of organising international trade exhibitions that bridge industries and nations. The Build, Power, and Water Series reflect Bangladesh’s remarkable industrial growth and commitment to sustainability,” she said. Running concurrently, the 27th Power Bangladesh International Expo 2025, the 22nd Solar Bangladesh International Expo 2025, and the 7th Dhaka International Lighting Expo 2025—collectively known as the Power Series—are showcasing the latest technologies in power generation, renewable energy, and smart lighting systems.

Trading at both the Dhaka and Chattogram stock exchanges began Thursday with a steep fall, as most listed companies saw a decline in their share prices. At the Dhaka Stock Exchange (DSE), the key index DSEX dropped by 57 points, while the Shariah-based DSES and the blue-chip DS30 indices fell by 16 and 22 points, respectively. Out of all traded issues, prices of 298 companies declined, while 40 advanced and 39 remained unchanged. DSE ends 10-day losing streak; turnover dips The DSE recorded transactions worth over Tk 150 crore in the first hour of trading. The downward trend continued at the Chittagong Stock Exchange (CSE) as well, where the overall index slid by 93 points. At the CSE, prices of 73 companies fell, while 12 gained and 4 remained unchanged, with total turnover exceeding Tk 5.4 crore in the first half of the session.

Foreign ministers from the Group of Seven (G7) nations reaffirmed their united support for Ukraine and condemned escalating violence in Sudan on Wednesday but avoided divisive issues such as U.S. trade tensions with Canada and recent American military strikes in the Caribbean. At the two-day meeting, the G7 ministers met with Ukraine’s Foreign Minister Andriy Sybiha, who urged continued international support as his country braces for a harsh winter amid intensified Russian attacks. In a joint statement, the ministers pledged to increase economic pressure on Moscow and target those financing its war. Canada and the UK announced new sanctions and energy aid for Ukraine, while U.S. Secretary of State Marco Rubio said discussions focused on strengthening Ukraine’s defense. The gathering came shortly after President Donald Trump halted trade talks with Canada over a provincial advertisement that angered Washington. Canadian Foreign Minister Anita Anand declined to discuss the issue, emphasizing that the focus was on G7 cooperation. G7 foreign ministers gather in Canada amid rising trade tensions with Trump Rubio also confirmed that U.S. military operations against alleged drug-smuggling vessels “didn’t come up once” in discussions, dismissing reports of intelligence-sharing tensions with Britain. The G7 ministers also issued a strong condemnation of Sudan’s worsening conflict, with Rubio calling for urgent action to stop the flow of weapons to the paramilitary Rapid Support Forces. The G7 includes Canada, the U.S., Britain, France, Germany, Italy and Japan, with ministers from Australia, India, Brazil, Saudi Arabia, Mexico, South Korea, South Africa and Ukraine also invited. Source: AP

The National Board of Revenue (NBR) has directed all Customs Bond Commissionerates to bar unauthorised individuals from entering offices or participating in official activities, citing concerns over workplace discipline and security. A circular issued by the NBR’s Customs Export and Bond Division expressed alarm over reports that outsiders have recently taken part in official functions at several Bond Commissionerates without approval. The NBR said such activities have disrupted office operations and undermined discipline and security. Despite repeated instructions at revenue review meetings, compliance with access restrictions has remained inadequate, the circular added. The NBR also indicated that some recent untoward incidents at various Bond Commissionerates may have involved these outsiders. Officials or employees found linked to outsiders, directly or indirectly, will face disciplinary action under the Government Servants (Discipline and Appeal) Rules, 2018.

Bangladesh Jamaat-e-Islami and representatives of the International Monetary Fund (IMF) held a meeting at the organization's (Jamaat's) central office on Wednesday (November 12). The meeting focused on various issues related to Bangladesh's sustainable economy, different financial sectors, the tax system, and the social sector. The discussions also covered key areas crucial for Bangladesh's economic stability and growth, including policies concerning the tax structure and the overall financial health of the nation. The IMF delegation was led by Chris Papageorgiou, the Mission Chief's Advisor for Bangladesh. He was accompanied by Maxim Krasko, IMF Resident Representative in Dhaka, Ivo Krezner, Deputy Chief of Mission, and Tawhid Elahi, Economic Analyst. Representing Bangladesh Jamaat-e-Islami were Mobarak Hossain, Central Executive Council Member, Prominent Academicians Dr. Abdur Rab and Shafiullah.

The Bangladesh Bank has directed banks to keep the cash margin requirement at the minimum possible level for opening Letters of Credit (LCs) to import ten essential food items ahead of the holy month of Ramadan. The ten commodities covered under this special facility are rice, wheat, onion, pulses, edible oil, sugar, chickpea (chhola), motor (peas), spices, and dates. The directive, issued by the Banking Regulation and Policy Department of the Bangladesh Bank on Wednesday and sent to the Managing Directors and Chief Executive Officers of all scheduled banks for execution. The new instruction is effective immediately and will remain in force until March 31, 2026. The central bank stated that the initiative was taken to ensure adequate supply and keep prices stable in the market, as the demand for these goods typically increases significantly during Ramadan. The directive explicitly states that the necessary cash margin for importing these ten essential items must be maintained at the minimum possible level, based on the banker-customer relationship. Previously, the central bank had imposed a requirement for banks to maintain up to 100 percent cash margin for opening LCs for certain consumer goods during the Ramadan season. This was later relaxed to a minimum requirement, based on the banker-customer relationship, a facility that expired on March 31 of the previous year. The Bangladesh Bank further instructed banks to prioritize the establishment of LCs for these commodities to ensure their sufficient supply in the domestic market.