United News of Bangladesh

Asian Development Bank (ADB) has warned people about fraudulent loan schemes being circulated through fake websites, counterfeit Facebook pages, and forged identity documents using the name and credentials of the organization and its officials. It does not provide direct loans, grants, funds, or any other form of financial assistance to individuals, ADB said in a press release issued on Monday. It also clarified that it never asks individuals to share personal financial information in exchange for support or requests money transfers through mobile banking or any other payment channel. ADB said fraudsters have recently been creating fake websites, unauthorised social media pages, and forged documents to impersonate the bank and its officials in order to deceive people and extort money. It has no association with or involvement in such activities, it said. Reaffirming its role as a long-standing development partner of Bangladesh, ADB said it works only with the Government of Bangladesh and private sector organizations through transparent and accountable procedures to implement development projects. ADB advised people to consider any offer of direct loans or financial assistance from individuals claiming to represent ADB as fraudulent and to remain cautious of such scams.

International Labour Organization (ILO) Director-General Gilbert F Houngbo arrived in Dhaka on Sunday morning on a two-day visit to Bangladesh. Houngbo is scheduled to hold a courtesy meeting with Labour and Employment Minister Ariful Haque Choudhury today, and meet Prime Minister Tarique Rahman on Monday, according to a press release issued by the Ministry of Labour and Employment. Discussions during the visit are likely to cover the improvement of labour standards, workplace conditions, workers' rights, social protection, skills development and labour market issues in Bangladesh, sources concerned said. Talks are expected to particularly focus on the ready-made garment sector, the informal labour market and the implementation of international labour standards. Houngbo, a national of Togo in West Africa, took office as the 11th director-general of the ILO in October 2022. He is the first African to lead the organisation in its century-long history.

The National Board of Revenue (NBR) has intensified nationwide monitoring and verification of tax compliance, asking tax zones across the country to deploy special teams to ensure proper deduction and deposit of taxes at source under the Income Tax Act, 2023. The revenue authority said the special drives are being conducted as per Section 147 of the Income Tax Act, 2023, which empowers tax officials to inspect businesses and verify whether taxes deducted at source have been correctly deposited into the government treasury. The NBR urged all businesses, organisations and taxpayers to remain aware of the legal authority vested in tax officials under the law and to cooperate fully during inspection and verification activities. According to the revenue authority, Section 147 authorises tax officials to enter any commercial or economic establishment, business premises or office without obstruction for on-site inspections. During such visits, officials are empowered to examine and requisition account books, vouchers, bank statements, receipts and any other documents related to financial transactions or business activities. The law also permits tax officials to inspect information stored in computer systems, cloud servers, digital records or electronic devices. Where necessary, they may gain access to password-protected or encrypted systems to verify tax-related information. In addition, officials are authorised to temporarily seize and retain account books, documents, electronic records or digital devices if required to verify the accuracy of taxes deducted at source. They may also collect copies of documents, images or account records and place identification marks or official seals on them for verification purposes. The NBR said these powers are aimed at ensuring transparency in withholding tax administration and preventing revenue leakage through inaccurate or incomplete tax deductions. The revenue authority also reminded taxpayers that Section 147(2) of the Income Tax Act provides for penalties against any individual or organisation that obstructs, resists or fails to cooperate with tax officials in carrying out their statutory duties. The NBR urged all withholding tax deductors to deposit taxes deducted at source into the government treasury through the electronic challan (e-Challan) system, ensuring that the correct legal provision and the appropriate economic code are mentioned while making payments. To address concerns over the implementation of Section 147, the NBR advised taxpayers facing any ambiguity, operational difficulty, alleged harassment or grievance to contact the member secretary of the NBR’s Section 147 Committee directly via email at [email protected]. The latest move comes as the tax authority seeks to strengthen compliance, improve monitoring of withholding tax collections and enhance revenue mobilisation through stricter enforcement of existing tax laws. It has been assigned an ambitious revenue collection target of Tk 6.04 lakh crore for the 2026-27 fiscal year. This historic target accounts for the majority of the overall Tk 6.95 lakh crore total government revenue collection goal for the period.

China signaled on Friday that the United States could restore Hong Kong 's preferential privileges, saying Washington confirmed it will not renew an executive order that revoked the city's special trading status. The Commerce Ministry said that the U.S. made commitments on Hong Kong issues and other matters during the U.S.-China trade talks in Madrid last year. The U.S. recently confirmed to China that the President’s Executive Order on Hong Kong Normalization would end, the ministry said in a statement responding to media questions. “The U.S. side’s actions represent an important step in fulfilling the consensus reached during the bilateral economic and trade talks. China appreciates it,” it said. It is not immediately clear what all the implications of the decision are. The White House referred questions about the executive order lapsing to the Treasury Department. The U.S. Office of Foreign Assets Control said in a statement Friday that the national emergency declared in the executive order had expired and that it delisted people who were sanctioned under the order. But it said people who remain sanctioned under another act related to Hong Kong have been added to a different sanction list. The statement showed Hong Kong leader John Lee and his predecessor, Carrie Lam, were removed from the first list but added to the second one. The U.S. decision came two months after President Donald Trump met with his counterpart Xi Jinping in Beijing. It could warm ties between them ahead of Xi's expected visit to the U.S. later this year. Earlier this month, a pastor of a prominent underground church who was detained in China in October was released after Trump brought up his case with Xi. Trump signed the now-expired executive order in July 2020, during his first term in response to Beijing imposing a national security law that year. Trump's order was last renewed for a year in July 2025. Under the order, Trump said Hong Kong was no longer sufficiently autonomous to justify differential treatment in relation to mainland China under certain laws. It eliminated the preferential treatment for Hong Kong to the extent permitted by law and in the national security, foreign policy, and economic interest of the United States. China considers the national security law for Hong Kong necessary to restore stability in the city after massive anti-government protests in 2019. The pro-democracy movement back then posed one of the biggest challenges to the Communist Party in Beijing and the Hong Kong government since the former British colony returned to Chinese rule in 1997. Six years after the law's introduction, many leading activists, including pro-democracy former media tycoon Jimmy Lai, were imprisoned under it. Critics say the Western-style civil liberties that Beijing promised to maintain for 50 years after the handover have declined. Hong Kong government said in a statement that it noted the “positive shift in the U.S. policy” toward the city. “Safeguarding Hong Kong’s prosperity and stability serves the common interests of China and the US, and also aligns with the general expectation of the international community,” it said. It said it hopes the U.S. will respect China's sovereignty and the rule of law in Hong Kong and resume normal economic and trade exchanges with the city.

Bangladesh Financial Intelligence Unit (BFIU) seized assets worth around Tk 76,000 crore  including Tk 57,000 crore in Bangladesh and Tk 19,000 crore abroad as per court orders during the 2024-25 fiscal year. "The money has been seized by court order and the assets will remain frozen until the legal process is completed," BFIU Head Iqtiaruddin Md. Mamun said at a press briefing at the Bangladesh Bank headquarters on Tuesday while unveiling the BFIU Annual Report 2024-25. He said the BFIU remains committed to protecting the assets of the people of Bangladesh and is conducting investigations into suspicious financial transactions impartially, regardless of political affiliation or personal identity. Responding to a question, Mamun said the BFIU has strengthened its anti-money laundering efforts by increasing the use of technology including Artificial Intelligence (AI) to detect suspicious transactions more effectively. The annual report also showed that the BFIU recorded a 74 percent increase in suspicious financial reports in FY2024-25 compared to the previous fiscal year. According to the report, the financial intelligence agency received 30,199 suspicious reports during FY2024-25 including 20,524 Suspicious Transaction Reports (STRs) and 9,675 Suspicious Activity Reports (SARs). The figure was significantly higher than the 17,345 reports received in FY2023-24 and nearly six times the 5,280 reports submitted in FY2020-21. The BFIU attributed the sharp rise to stronger regulatory enforcement and compliance requirements for reporting entities, improved technological capabilities for transaction monitoring and pattern detection, increased awareness among financial institutions about money laundering and terrorist financing risks, and a rise in suspicious financial activities, including online gambling and betting, foreign exchange (FX) and cryptocurrency trading, and digital hundi. The report said the banking sector continued to dominate Bangladesh's financial intelligence reporting system, accounting for 95 percent of all submissions in FY2024-25, up from 92 percent a year earlier. Banks alone submitted 28,755 STRs and SARs during the fiscal year, marking an 80 percent increase from 15,991 reports in FY2023-24. Although financial institutions and money remitters also recorded increases in the number of suspicious reports over the past three years, their overall contributions remained limited, accounting for about one percent and four percent of total reports respectively in FY2024-25. The report also noted increased cooperation between the BFIU and law enforcement agencies. Requests for financial intelligence from law enforcement and intelligence agencies rose by about 15 percent to 1,329 in FY2024-25 from 1,157 in the previous fiscal year. The Criminal Investigation Department (CID) of Bangladesh Police and the Anti-Corruption Commission (ACC) were the leading agencies seeking financial intelligence from the BFIU. Meanwhile, the BFIU observed a year-on-year decline in Cash Transaction Reports (CTRs), which are mandatory for cash deposits or withdrawals of Tk 10 lakh or more in a single day. Banks and financial institutions reported 31.25 million cash transactions involving Tk 19,452 billion, while financial companies reported 1,484 such transactions worth Tk 2.17 billion. According to the report, the decline in CTRs reflects Bangladesh Bank's continued efforts to promote a cashless and digitally enabled financial ecosystem.

Grameenphone Limited has declared an interim cash dividend of 105 percent for the year 2026, equivalent to Tk 10.50 per share of Tk 10 each, alongside its audited financial statements for the six months ended June 30, 2026. The dividend represents 100 percent of the company's profit after tax for the January-June period, according to a disclosure sent to the Dhaka Stock Exchange (DSE) on Wednesday. The record date for entitlement to the interim cash dividend has been set for August 12, 2026. Based on the audited accounts, Grameenphone's earnings per share (EPS) stood at Tk 5.62 for the April-June quarter of 2026, down from Tk 6.51 in the same quarter last year. For the January-June period, EPS was Tk 10.52, compared with Tk 11.21 during the corresponding period of 2025. The company's net operating cash flow per share (NOCFPS) came down to Tk 22.27 for the first half of 2026, against Tk 26.94 in the same period last year, marking a 17.3 percent decline. Grameenphone attributed the drop mainly to higher payments made to suppliers during the current period. Net asset value (NAV) per share was recorded at Tk 41.51 as of June 30, 2026, slightly lower than Tk 42.15 a year earlier. Following the corporate declaration, there will be no price limit on the trading of Grameenphone shares on the DSE on Wednesday.

The Bangladesh Jewellers Association (BAJUS) on Tuesday cut the price of gold for the second time in 24 hours, slashing the rate of 22-karat gold by Tk 2,158 per bhori to set the new price at Tk 219,808, inclusive of VAT. In a notice issued in the morning, BAJUS said the fresh price cut reflects a decline in the price of pure gold in the local market. The revised rates came into effect from 10 am on Tuesday. According to the new pricing, each bhori (11.664 grams) of 21-karat gold will now cost Tk 209,894, while 18-karat gold has been priced at Tk 180,267 per bhori. Traditional gold will sell at Tk 147,316 per bhori. BAJUS said the new prices will remain in effect until further notice, though making charges will continue to apply depending on jewellery design. Since VAT is already included in the sale price of gold and silver ornaments, jewellers cannot charge VAT separately from customers. The association's existing rules for ornament exchange and purchase excluding specified VAT, making charges and stone costs will remain unchanged. The previous price adjustment came on the morning of July 13, when BAJUS cut the rate by Tk 2,216 per bhori, setting 22-karat gold at Tk 221,966 including VAT. With Tuesday's revision, the price of gold has been adjusted 91 times in the local market so far in 2026 - increased on 44 occasions, decreased on 46, and adjusted once for VAT. Silver prices, meanwhile, remained unchanged. Each bhori of 22-karat silver is currently selling at Tk 4,607, while 21-karat, 18-karat and traditional silver are priced at Tk 4,374, Tk 3,791 and Tk 2,858 per bhori, respectively. Silver prices have been adjusted 56 times so far this year, with 28 increases and 28 decreases.

The total disbursement of the joint digital loan service by City Bank and bKash has crossed the milestone of Tk 10,000 crore, marking a significant breakthrough in the digital financial inclusion. Since its commercial launch in December 2021, around 35 lakh bKash app users have availed of this digital loan facility across a total of 3.19 crore loan accounts. According to City Bank’s data, each customer has taken this short-term loan an average of nine or more times, reflecting strong reuse of the service and a growing public demand for hassle-free, small-scale credit. Currently, the loan facility is accessible to more than 1.20 crore eligible bKash users. The service has successfully reached segments of the population who previously had little to no access to formal banking infrastructure or institutional credit. Under this facility, bKash users can secure loans in less than a minute through the app without visiting any physical bank branch or submitting physical paperwork. On average, nearly 1.0 lakh customers avail of this City Bank loan daily via the bKash app. The average loan size stands at approximately Tk 3,000, while the monthly loan disbursement volume has reached Tk 900 crore. These instant loans are primarily used to meet immediate short-term needs, including business operating capital, emergency medical expenses, family costs, and education. The most remarkable aspect of this digital credit model is its exceptional repayment rate. Out of the Tk 10,000 crore disbursed so far, the combined amount of defaulted and written-off loans stands at only Tk 53 crore, or a mere 0.5 percent. This means 99.5 percent of the disbursed loans have been regularly repaid. Highlighting the success, City Bank Managing Director and CEO Mashrur Arefin noted that at a time when default loans remain a massive concern for the country's traditional banking sector, the exemplary recovery rate of these small-scale digital loans offers valuable lessons and inspiration for the entire financial industry.  

The Shariah Supervisory Committee of Islami Bank Bangladesh PLC held a meeting at the bank's head office, Islami Bank Tower, in the capital on Monday. The meeting was chaired by Mufti Shamsuddin Zia, chairman of the committee, according to a press release. Committee members Prof Dr Md Shamsul Alam, Prof Dr Zubair Mohammad Ehsanul Hoque and Dr Md Nurullah attended the meeting. Acting Managing Director of the bank Md Altaf Hossain was also present at the meeting.

Finance Minister Amir Khosru Mahmud Chowdhury on Sunday told Parliament that investigations are underway against the former leadership of the Bangladesh Securities and Exchange Commission (BSEC) while the newly reconstituted commission has been formed through a transparent and professional selection process. The Minister made the remarks while responding to a supplementary question from Jamaat-e-Islami MP Md Quamrul Hassan, elected from Mymensingh-6. The MP alleged that during the Awami League government's tenure, politically biased and dishonest people were appointed to the BSEC and said there was allegation that some commission members had colluded in irregularities and manipulation in the stock market. He wanted to know whether the government would ensure that only competent and non-partisan individuals are appointed to the commission in the future and whether action would be taken against officials who served during the previous AL government. In reply, Amir Khosru said legal proceedings and investigations against the former BSEC chairman and others are already in progress. He told the House that the commission has been reconstituted with a chairman and three members, while the process of appointing another member is continuing."None of them has been appointed on political considerations." He added that the recruitment process was so transparent that even as Finance Minister he did not personally know the appointees beforehand. "They are all professionals with exposure to the stock market and international capital markets. We have no reason to question their integrity," he said. The Minister said the stock market has shown a sustained upward trend since the appointment of the new commission, gaining significant points over the past two months. He claimed the market had recorded stronger gains during this period than it had over the previous five years, attributing the improvement to restored transparency and renewed investor confidence. Amir Khosru also said the government has introduced, and will continue to introduce, major reforms in the capital market to strengthen its governance and credibility. He said fund managers from major financial centres including Hong Kong, New York and London have already begun visiting Bangladesh and expressing interest in participating in the country's capital market. The Minister expressed optimism that Bangladesh's capital market would develop into a globally recognised, transparent and trustworthy market, saying recent investor confidence and the upward movement in share prices indicate that the reform process is already producing results.