United News of Bangladesh

Trading on the country’s two major stock exchanges began the week with losses on Sunday, as key indices and most share prices declined. At the Dhaka Stock Exchange (DSE), the benchmark index DSEX dropped by 12 points, while the Shariah-based DSES and the blue-chip DS30 indices each fell by 7 points. The share prices of most companies saw a fall, with 225 issues declining, 97 advancing and 71 remaining unchanged. The DSE recorded a turnover of over Tk 170 crore in the first half of the session. A similar downward trend was also seen at the Chittagong Stock Exchange (CSE), where the overall index fell by 69 points. At the CSE, the prices of 56 companies declined, 23 gained, and 9 remained unchanged, with a total turnover of around Tk 1.7 crore in the first half of trading.    

Exporter associations have begun the process of assessing damages caused by the fire at the cargo village of Hazrat Shahjalal International Airport (HSIA). The organisations have directed their member companies to prepare detailed lists of their damaged goods in a prescribed format. According to association officials, a clearer estimate of the total volume of affected goods and the extent of financial losses is expected within the next one to two days. A delegation from the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) will visit the airport’s cargo village today (Sunday) to identify and evaluate the damages. Masud Karim, Chairman of the BGMEA Public Relations Committee, told UNB that a BGMEA team will visit the site at noon. Gusty weather hinders firefighting efforts: Fire Service DG Meanwhile, exporters are expressing increasing concerns over the uncertainty surrounding the resumption of operations at the cargo village. Business leaders have said that any prolonged suspension of airport activities will have a serious impact not only on passenger transport but also on the country’s crucial export sector. Key export items transported by air from Bangladesh include ready-made garments (RMG), perishable goods such as vegetables, fruits and betel leaves, along with various other products and important documents handled by international courier services. Businesses in these sectors are considered most at risk. BGMEA President Mahmud Hasan Khan said, “We do not have any specific information at this moment about the quantity of goods damaged. If it reopens quickly, the losses will be less. If it remains closed for a longer period, the losses will be greater." S M Jahangir Hossain, President of the Bangladesh Fruits, Vegetables and Allied Products Exporters’ Association (BFVAPEA), said, “Our shipments to various destinations depend on the availability of space on the aircraft. Fire at Shahjalal Airport's cargo village brought under control after 7 hours “So, on days when we get more space, we can send more goods. We are currently investigating how much products our members had there today,” he added.    

Effective banking sector reform cannot be achieved without holding accountable those who looted banks during the past Awami League government, particularly after 2017, speakers said at a seminar on Saturday. The effort to recapitalise failing banks repeats the shameful history in which ordinary people paid for the failure of banks, the salvation of which, after being looted under political protection, required large sums of taxpayers’ money, they said. The banking sector crisis is owed to systemic problems sustained by years of banking data manipulation by the past AL government, political lending, widespread corruption in the banking sector and bankers’ failure to uphold professional ethics, the speakers said. “Holding the bank looters accountable is undoubtedly central to the banking sector reform,” said Nurun Nahar, deputy governor, Bangladesh Bank, during her speech as the chief guest at the seminar. Titled ‘Bangladesh’s Banking Crisis: The Way Forward,’ the seminar was organised by the Cosmos Foundation, the philanthropic arm of the Cosmos Group, with the United News of Bangladesh (UNB) serving as the event’s media partner. The situation of the banking sector was not so bad before 2017, Nahar said, recalling that the fall started taking place after certain Islamic banks were taken over. The decision to merge several banks and their recapitalisation came to protect the depositors and prevent a systemic crash, she said. In response to scathing criticisms over the central bank’s failure to regulate the sector and surrender to political pressure, Nahar wondered what steps could withstand such an assault on the central bank’s independence. “Yes, one could have resigned under political pressure—but could anyone guarantee that their successor would take the right decision? I don’t know,” he said. Banks regularly suppressed non-performing loan data, giving a false impression of their financial strength so that they could enjoy dividends, the Deputy Governor said. “The central bank alone cannot be blamed. Everyone was involved in the process, including directors and those in the management of commercial banks,” she said. But the situation is improving with a strong accountability mechanism being enforced. The banking sector is regaining strength, enjoying independence and rejecting any biased and unethical practices, she said. Towfiqul Islam Khan, additional director of the Centre for Policy Dialogue (CPD), said that the banking crisis is “less technical and more political.” “The central bank is supposed to be an independent entity. Unless it is allowed to act freely and bank looters are punished, crises will keep returning to the banking sector in the future,” he said. Towfiq offered the alternative to recapitalise failing banks with profits made by the central bank over the last few years. In the last financial year, he said, the BB posted a profit of Tk 22,000 crore, which is far higher than the most profitable commercial bank, which logged a profit of Tk 700 crore in the same year. The Bangladesh Bank made similar profits in the two years preceding the last financial year. If the central bank was responsible for the sector-wide damage, Towfiq said, why should it not use a portion of the profit made to rebuild banks being merged? The bank merger decision drew strong criticism from the speakers, who likened it to sparing looters and making the victims pay for the crime. Nehal Ahmed, a professor at the Bangladesh Institute of Bank Management, and MGK Jewel, a consultant at the Asian Development Bank, jointly delivered the keynote paper at the seminar. Citing examples from other countries, Prof Nehal Ahmed emphasised freeing the central bank from finance ministry influence to establish best practice in the financial sector. Abdul Mannan, a former executive director of the Bangladesh Bank, said that banks’ defaulted loans rose from T k22,000 crore in 2008 to about Tk 5 lakh crore in 2024. He blamed the lack of good governance for the bank’s mounting non-performing loans, exacerbated by state agencies’ intervention. Speakers said that there, however, were instances of failing banks making recoveries with time when they chose to uphold professionalism. Shahidul Islam Zahid, chairman of the Department of Banking and Insurance at Dhaka University, said that Bangladesh’s banks do not care about ordinary depositors and often serve the interests of oligarchs. He questioned the validity of the government’s plan to merge five troubled banks by injecting Tk 20,000 crore from the national budget.“Banks have been looted before and recapitalised. What guarantee do we have that it won’t happen again?” he asked. Muhammad Mahboob Ali, professor of economics at the Bangladesh University of Business and Technology, criticised Bangladesh’s Islamic banking system, calling it one of the worst in the world. He called for protecting depositors’ interest with an effective insurance policy. Karmasangsthan Bank director Salahuddin Bablu questioned the practice of adopting monetary policy in light of the national budget, whereas the ideal case should be the opposite. Past bank mergers were not as successful as expected, he said. He said that the central bank utterly failed to contain inflation, with some of its steps to do so increasing the burden on ordinary people. Dr M Kamal Uddin Jasim, additional managing director of the Islami Bank Bangladesh, Sheikh Md. Riyaz Uddin, first assistant vice president of the Islami Bank Bangladesh, and business journalist Farhad Hossain Talukder also attended the seminar. Assuring depositors with five banks due for merger, Deputy Governor Nahar said about 90% of them with deposits below Tk 2 lakh would soon get a refund.

The American Chamber of Commerce in Bangladesh (AmCham) hosted an engagement session on “AmCham Insights: Economic & Investment Outlook”, on Thursday at the Sheraton in Dhaka. Dr. Fahmida Khatun, Executive Director, Centre for Policy Dialogue (CPD), and Shah Mohammad Mahboob, Executive Member, Bangladesh Investment Development Authority (BIDA) graced the program as guest speakers. The event was supported by Philip Morris Bangladesh Ltd. Syed Ershad Ahmed, President of AmCham Bangladesh, said that the country is undergoing a transitional phase marked by key reforms, including logistics infrastructure management, the separation of the NBR into two distinct functions, and strengthened banking governance. These efforts, he noted, reflect a strong intent to build a more resilient and investment-friendly economy. However, to attract greater investment, he emphasized the need to ensure energy security, curb corruption, and maintain long-term policy consistency to reinforce investor confidence. Dr. Fahmida Khatun, Executive Director of the Centre for Policy Dialogue (CPD), shared her insightful analysis on “Economic Outlook of Bangladesh: Current Trends and Future Prospects,” noting the nation’s critical transition ahead of LDC graduation in 2026. She observed that GDP growth has slowed to around 4% in fiscal year 2025 though rising remittances and exports are providing some relief amid persistent inflation and stagnant wage growth. Fahmida Khatun emphasized export diversification, climate resilience, and inclusive employment generation as critical long-term priorities to sustain growth and competitiveness beyond LDC graduation. Shah Mohammad Mahboob, Executive Member of BIDA, shared enlightening insights on Bangladesh’s investment outlook, highlighting its macroeconomic resilience and reform-driven climate. He noted inflation’s fall from double to single digits, a 12.5% stock market rally, rising foreign reserves, and FDI more than doubling year-on-year—boosted by successful U.S. tariff talks and growing interest from China and South Korea. Mustafizur Rahman, Joint Secretary (WTO), Ministry of Commerce, highlighted Bangladesh’s proactive trade diplomacy, including CEPA/FTA negotiations with key Asian partners, including Japan, Korea, and a successful tariff reduction deal with the USTR to safeguard exports post-LDC graduation. Sultana Yasmin, Joint Secretary, noted that the Ministry of Industries implements the National Industrial Policy 2022, focusing on private-sector growth, exports, and SMEs. Key initiatives include digitization through OSS and online approvals, revision of key sectoral policies, and formulation of the Electric Vehicle and updated Logistics Policies. She stressed strong inter-ministerial coordination to boost investment and trade. Md Bodruzzaman Munshi, Second Secretary, NBR, shared recent trade facilitation measures such as reduced Advance Tax, policy formation for Free Zone facility, Bank Guarantee Facility, Digital Record-Keeping, Import-Export Hub, and the launch of the Bangladesh Single Window for streamlined cross-border trade and enhanced global competitiveness. AmCham Treasurer, Al Mamun M Rashel & Managing Director of NATco Bangladesh, and AmCham Executive Committee Member,  Rashed Mujib Noman, Managing Director of Augmedix BD Limited, were also present at the event.

Bangladesh Investment Development Authority (BIDA) Executive Chairman Ashik Chowdhury has highlighted the need for stronger coordination between BIDA and the Ministry of Home Affairs to create a seamless, secure and investor-friendly environment for foreign professionals and investors in Bangladesh. He made the remarks at a high-level sensitization session on investment facilitation and security coordination held at BIDA’s Multipurpose Hall in Agargaon’s Biniyog Bhaban on Wednesday. The event, organised by BIDA in partnership with the United Nations Development Programme (UNDP) under the TEPP-II project, saw participation from senior officials of the Ministry of Home Affairs, Department of Immigration & Passports and relevant security agencies. “Our partnership with the Ministry of Home Affairs has come a long way, as we share a joint responsibility to ensure a welcoming and enabling environment for foreigners who choose to invest and work in Bangladesh,” Ashik said. He noted that a significant portion of the work permit ecosystem, including BIDA’s work permit services and the Home Ministry’s security clearance process, has already been digitalised. “We are now actively working to digitalise the visa application process in partnership with the Department of Immigration.” Emphasising procedural harmony, he said, “It is critical that investors experience a seamless and harmonised process across institutions. When an investor applies for a work permit, there should be no unreasonable disparity between procedures at BIDA, BEZA, or any other investment promotion agency.” Speaking at the session, Md Delwar Hossain, Additional Secretary of the Ministry of Home Affairs, said the ministry has successfully shifted the entire security clearance process online in collaboration with BIDA. “We are now working to transition passport and related services to a fully digital platform as well.” Md Ariful Haque, Director General of BIDA’s International Investment Promotion Wing, called on field-level officers to consistently share on-ground experiences and challenges so that future policy decisions are better informed and service delivery continues to improve. Under the new online system for obtaining security clearance against work permits, which officially came into effect on 1 October 2025, foreign investors and expatriate employees must submit applications exclusively through BIDA’s One Stop Service (OSS) Portal. Once submitted, if no objections are raised within 21 working days, clearance will automatically be deemed granted. Failure to submit the application within the specified timeframe will render the permit invalid. BIDA continues to coordinate closely with the Ministry of Home Affairs to simplify procedures, enhance transparency, and further strengthen Bangladesh’s investment service ecosystem.

Bangladesh Bank (BB) on Wednesday issued a public advisory following social media and media reports about a surge of counterfeit currency, reportedly entering the country from India. The central bank urged citizens not to panic unnecessarily. In a media release, Bangladesh Bank warned that such reports could create confusion and instability, and reminded the public that manufacturing, carrying, or transacting fake notes is a serious offence under existing law. The central bank said it is working closely with law enforcement agencies to prevent the circulation of counterfeit money. Both BB and security forces are “maintaining strict vigilance and taking regular, effective measures to prevent the circulation of counterfeit money” by monitoring the source, flow, and use of fake notes. The advisory follows a viral Facebook post by a Qatar-based investigative journalist, which prompted Bangladesh Bank and national law enforcement agencies to intensify countermeasures against fake currency. To safeguard the public, BB advised individuals to verify security features when receiving notes, including watermarks, intaglio print, security threads, colour-shifting ink, and micro-text. The bank urged the public to conduct all large-scale transactions through formal banking channels and to prefer digital payments over cash wherever possible. Citizens are also encouraged to report any suspicious notes immediately to the nearest police station or by calling the National Emergency Service 999. The central bank also reminded the public that detailed information on the security features of genuine notes is available on its website, www.bb.org.bd, and that instructional X-banners and posters are displayed at every bank branch nationwide.

The government is working on a Tk 100-crore fund through the Jute Diversification Promotion Centre (JDPC) to revive the use of jute bags and bring about a cultural shift towards jute-based products, said Commerce Adviser Sk Bashir Uddin on Wednesday. “We are trying to bring about a cultural change in the market with a fund of nearly Tk 100 crore through JDPC, involving around 1,006 entrepreneurs. Like in the past, we want to see how we can reintroduce jute bags in daily use. There is a vast global market for jute as a wrapping material. Research is needed to expand the jute sector’s square metre coverage, mileage, and scope,” he said. The adviser was addressing a seminar titled ‘The Role of Jute in Sustainable Development – Hafizuddin Ahmed and Fatema Ahmed Trust Lecture 2025’ held at the auditorium of the Bangladesh University of Textiles (BUTEX). The Department of Yarn Engineering organised the event. Calling the students as ‘future captains’, Bashir Uddin urged them to adopt innovation and cost-effective production methods to enhance the commercial success of jute products, making them competitive alternatives to plastic. “You have shown refined character in many areas by saying, ‘I don’t agree’. For jute bags, we need cultural change, not compulsion. Innovation, cost reduction, and enhanced capabilities are essential for the commercial success of jute products. To beat plastic, we need coordinated efforts in policies, actions, and initiatives. Increased productivity leads to more employment opportunities. Wherever you work, strive to make your institution the best,” he said. In her keynote presentation, Prof Dr Hosne Ara Begum of the Department of Yarn Engineering highlighted the role of jute cultivation and exports in ensuring a sustainable and environment-friendly economy. She also called for the exclusive use of jute bags at the upcoming trade fair. Dhaka University’s former professor Rashida Akhtar Khanam, Director General of the Bangladesh Jute Research Institute Dr Nargis Akhtar, IEB Vice-President Engr Khan Manjur Morshed, IETET Convener Engr Ahsanul Karim Kaiser, along with other faculty members and students, attended the event.  

The five-day-long 20th National Furniture Fair 2025 begins on Tuesday in the capital at the Rajdarshan Hall of International Convention City Bashundhara (ICCB) in Kuril, Dhaka The five-day event is being held across Gul Naksha (Hall—1), Pushpa guccha (Hall—2), and Rajdarshan (Hall—3) of the convention center under the slogan “My Country, My Dream—Decorating Homes with Local Furniture. Organiser said that a total of 48 leading furniture companies are participating in this years fair to showcase their latest designs and innovative products across 278 stalls. Prominent participating brands include Akhtar, Hatil, Brothers, Nadia, Ayoto, Omega, JMG, Navana, Athenas, Partex, Regal, and Legacy. Sheikh Bashir Uddin, Adviser to the Ministry of Commerce opened the fair while the inaugural ceremony was presided over by Selim H. Rahman, Chairman of the Bangladesh Furniture Industries Owners Association (BFIOA). Special guests at the opening ceremony included Mohammad Hasan Arif, Vice Chairman and Chief Executive of the Export Promotion Bureau (EPB), Bangladesh, and Dr. K. M. Akhtaruzzaman, President of the Bangladesh Furniture Exporters Association. During the inauguration ceremony, adviser to the Ministry of Commerce Sheikh Bashir Uddin expressed optimism about the sectors potential and urged entrepreneurs to increase their investments. He emphasized that Bangladesh could secure a strong position in the global furniture market by utilizing its local opportunities and resources and spoke about plans to use such fairs as a platform to expand export markets and promote more trade exhibitions in the future. At the same time, vice Chairman and Chief Executive of the Export Promotion Bureau (EPB), Bangladesh Mohammad Hasan Arif statet that export diversification is essential to increase national income as the industry is a promising sector that can reach international standards by utilizing local raw materials, modern technology, and skilled labor. He mentioned that the government has identified the furniture sector as a potential export industry and that policy support and incentives will continue. Such fairs help entrepreneurs build networks and access global markets. He urged entrepreneurs to focus on innovative design, technology, and quality improvement. Bangladesh's domestic furniture industry now meets 100 percent of local demand and exports a significant volume of furniture abroad. On the opening day, a children's art competition was organized, in which 20 children received awards worth a total of 200,000 taka. The fair is being managed by the Design and Technology Center, and Access Infotech serving as partners.

Bangladesh’s stock markets ended lower on Tuesday despite a positive start, as most companies saw a decline in share prices by the end of the trading session. At the end of the day’s trading, the key index of the Dhaka Stock Exchange (DSE), DSEX, lost 30 points. Among other indices, the Shariah-based DSES dropped 6 points, while the blue-chip DS30 index fell 14 points. Out of 396 issues traded on the DSE, prices declined for the majority. Share prices advanced for 105 companies, fell for 233 and remained unchanged for 58. In all three categories — A, B, and Z — most companies ended in the red. Among the top-performing A-category companies that usually offer higher dividends, share prices rose for 69, declined for 119, and remained unchanged for 31 issues. Stocks open higher with DSEX gaining 38 points in first hour In the block market, shares worth Tk 19 crore of 30 companies were traded, with BRAC Bank topping the list by trading shares worth Tk 6.9 crore. The turnover on the DSE increased to Tk 606 crore, compared to Tk 530 crore in the previous session. Social Islami Bank Ltd topped the gainers’ list with a 10% rise, while Information Services Network Ltd was the day’s worst performer, losing more than 8%. The Chittagong Stock Exchange (CSE) also witnessed a downturn, with its overall index losing 54 points. Out of 207 issues traded, prices advanced for 74, declined for 108, and remained unchanged for 25. Indices rise in early trading at DSE, CSE The CSE’s daily turnover stood at Tk 15 crore, down from Tk 19 crore in the previous session. Social Islami Bank also led the gainers on the CSE with over 9% price rise, while Zahintex Industries Ltd suffered the biggest loss, shedding more than 10%.

Five Shariah banks undergoing a merger are facing a massive collective liability of approximately Tk 37,332 crore in fixed deposits owed to various banks and financial institutions, according to a report of the Bangladesh Bank released on Tuesday. The report studied the state of the five banks. Of them, the highest liability of Tk 10,185 crore lies with First Security Islami Bank, while Union Bank has a liability of Tk 8,631 crore. The Exim Bank has a liability of Tk 8,157 crore, followed by the Social Islami Bank with a liability of Tk 5,791 crore and the Global Islami Bank with Tk 4,568 crore. In addition to the five banks, the Padma Bank is also reportedly failing to return deposits, contributing to a broader liquidity crisis. BB to appoint administrators for merger of five troubled Islami banks Arif Hossain Khan, executive director and spokesperson for the BB, told UNB, "Where an institution places its money is its own business policy. The main problem here is corruption, not a lack of policy. These issues will not be resolved unless corruption is stopped.” Bangladesh Bank’s (BB) latest report exposes the fragile state of the banking sector.