United News of Bangladesh

Industries Minister Khandakar Abdul Muktadir on Monday stressed the need for advancing negotiations on a free trade agreement (FTA) with Türkiye and strengthening cooperation in trade and investment. He made the remarks during a meeting with Turkish Ambassador to Bangladesh Ramis Şen at the Ministry of Industries. At the meeting, the two sides discussed the proposed FTA, business opportunities in fruit imports and Bangladesh's participation in international trade conferences. They also explored ways to tap Türkiye's experience and capacity in managing hazardous industrial waste, alongside expanding bilateral economic ties. Reviewing progress towards launching FTA negotiations, the two sides expressed optimism about further strengthening trade and economic cooperation. Muktadir expressed interest in holding a bilateral meeting with Türkiye's trade minister and meeting the country's investment agency during his upcoming visit to Türkiye. Bangladesh also sought contact details of Turkish fruit exporting organisations to facilitate business links between Bangladeshi and Turkish traders. The two sides discussed channelling this information to relevant Bangladeshi traders through the Ministry of Commerce. Management of hazardous waste from the electronics and ship-breaking industries also received emphasis at the meeting. In this regard, the two sides discussed possible cooperation in developing treatment, storage and disposal facilities (TSDFs) in Bangladesh, drawing on Türkiye's experience and expertise in managing such hazardous waste. Discussing the leather industry, the Turkish ambassador said leather processing and tannery operations in his country have declined due to environmental concerns, while the use of synthetic leather and imports of raw materials have increased. He invited Bangladesh to attend the upcoming ministerial-level conference under the Standing Committee for Economic and Commercial Cooperation of the Organisation of Islamic Cooperation (COMCEC), as well as the World Halal Industrial Summit and Halal Expo. The Bangladesh side said Muktadir will attend the main COMCEC conference, while other Bangladeshi representatives will join the subsequent events.

Bangladesh Jewellers Association (BAJUS) has cut the price of gold by Tk 1,691 per bhori, setting the price of 22-carat gold at Tk 2,29,081 per bhori, including VAT. The new price come into effect from 10am Monday, BAJUS said in a notice issued in the morning. According to the notice, the price of pure gold, locally known as Tejabi gold, has declined in the local market. Considering the overall market situation, BAJUS has revised the prices of gold, including VAT. Under the new rates, 21-carat gold will cost Tk 2,18,817 per bhori, while 18-carat gold will be priced at Tk 1,87,907 per bhori. The price of traditional-method gold has been set at Tk 1,53,498 per bhori. One bhori of gold is equivalent to 11.664 grams. BAJUS said making charges will apply depending on the design of jewellery. Since VAT is already included in the selling prices of gold and silver jewellery, jewellers cannot collect VAT separately from customers. For jewellery exchange, 12 percent will be deducted, while 18 percent will be deducted in case of purchase, excluding making charges and the value of stones. No separate VAT deduction will be applicable in exchange and purchase transactions, it said. The revised prices will remain effective at all jewellery shops until further notice, BAJUS said. Earlier on Sept 30, BAJUS had cut the price of 22-carat gold by Tk 2,216 per bhori to Tk 2,30,772, including VAT. At that time, 21-carat gold was priced at Tk 2,20,391 per bhori, 18-carat gold at Tk 1,89,248 and traditional-method gold at Tk 1,54,606. The prices took effect from 10am that day. With Monday’s adjustment, gold prices have been revised 121 times in the country so far this year. Prices have been increased 59 times, reduced 61 times and adjusted once for VAT. Meanwhile, silver prices remained unchanged. At present, 22-carat silver is selling at Tk 4,316 per bhori, including VAT, while 21-carat silver is priced at Tk 4,141, 18-carat silver at Tk 3,558 and traditional-method silver at Tk 2,683 per bhori. Silver prices have been adjusted 73 times so far this year, with 36 increases and 37 decreases.

Terming Japan as a trusted development and business partner of Bangladesh, Japanese Ambassador to Dhaka Saida Shinichi has expressed optimism that several major Japanese investment initiatives currently in the pipeline will materialize in due course. Speaking as the chief guest at the 21st Annual General Meeting (AGM) of the Japan-Bangladesh Chamber of Commerce and Industry (JBCCI) at a hotel in Gulshan on Sunday, the envoy emphasized the importance of strong governance, institutional relevance, and delivering tangible benefits to businesses in both nations. Ambassador Saida welcomed the Economic Partnership Agreement signed in February with support from JBCCI and called for industrial diversification, the development of upstream industries, the removal of unnecessary regulatory barriers, and the creation of employment opportunities for young people in Bangladesh. He also stressed the need for a transparent and sustainable relationship between business and politics to support long-term economic growth, while reaffirming the Japanese Embassy’s continued support for JBCCI in expanding bilateral trade and investment. At the AGM, JBCCI formally announced its new 16-member board of directors for the 2026-28 term, with Kazuiki Kataoka elected as president. In his acceptance speech, President-Elect Kazuiki Kataoka thanked the outgoing leadership and stated that the chamber would focus on highlighting Japan’s contributions to Bangladesh through trade, investment, infrastructure development, and business activities. He emphasized leveraging the expertise of JBCCI’s nearly 400 member companies through knowledge-sharing sessions, networking, and member-driven initiatives. Outgoing President Tareq Rafi Bhuiyan welcomed participants and highlighted JBCCI’s pivotal role in bolstering bilateral ties. Secretary General Maria Howlader FCA presented the major activities from November 2025 to September 2026, noting that membership grew to 391 companies from 369 in the previous year. Joint Treasurer Md Jahangir Alam Sharker CPA presented the audited financial report, reflecting sustainable financial growth. The AGM also approved the appointment of Shafiq Mizan Rahman & Augustine, Chartered Accountants, as auditors for the 2026-27 financial year. The newly formed board features Abu Zaman Md Tariqul Islam and Syed Samiul Huq as vice-presidents, Rabiul Alam as secretary general, Kenji Kimura as treasurer, Oliver Kutz as joint secretary general, and Saumitra Kumar Mutsuddi as joint treasurer. Tareq Rafi Bhuiyan (Jun), Hiroaki Oura, Kabir Ahmed, Atsushi Hirakuri, AKM Ahmedul Islam Babu, Kenichiro Kawamoto, Farzanah Chowdhury, Hironori Yamanaka, and Mudassir Murtaza Moin were elected as directors, while Manabu Sugawara and Abdul Haque were appointed as advisers to the board. JBCCI Vice-President Hiroaki Oura delivered the vote of thanks, expressing gratitude to the outgoing board and wishing success to the incoming leadership.  

Robi Axiata PLC on Sunday announced the successful completion of its nationwide network transformation initiative following the final phase of its 4G network modernization program in the Chattogram region. The final phase covered the Chattogram, Cumilla, and Noakhali regions, establishing a stronger, reliable, and future-ready "Giga Green" 4G/5G-ready network across Bangladesh, according to a press release issued by the telecom operator. The formal announcement was made at an event titled “Celebration of Robi’s 4G Network Modernization in Chattogram” held at Radisson Blu Chattogram Bay View on Sunday. Under the Chattogram region program, more than 3,500 sites were modernized within 180 days with virtually no service disruption to customers. The upgrade has enhanced customers’ 4G experience by an average of up to 20 percent and expanded enhanced indoor 4G coverage to 10 percent more people. Additionally, the deployment of advanced Multiple Input Multiple Output (MIMO) technology has strengthened signal quality, while new infrastructure has reduced network energy consumption by up to 12 percent, aiding carbon emission reduction goals. Speaking at the event, Robi Managing Director and CEO Ziad Shatara stated that the completion of the Chattogram region project marks the successful conclusion of the operator's nationwide network transformation. He added that this achievement follows the recent modernization of over 4,800 sites in Greater Dhaka, elevating Robi's overall network excellence. Major General (Retd.) Md. Emdad Ul Bari, Chairman of the Bangladesh Telecommunication Regulatory Commission (BTRC), termed the rapid execution of the large-scale project a remarkable engineering achievement that will strengthen the country’s telecom sector. Mohammad Abu Sufian, Member of Parliament for Chattogram-9, highlighted Chattogram's role as the nation's commercial gateway, noting that modern digital infrastructure will support trade, industrialization, and smart city management. Chattogram Development Authority (CDA) Chairman Engineer Belayet Hossain added that robust telecommunications infrastructure will accelerate economic growth and digital transformation across the region. Prior to the Chattogram rollout, Robi completed the largest network transformation in its history by modernizing over 4,800 sites across Greater Dhaka, which delivered up to a 125 percent improvement in customer experience and cut call drops by 20 percent.

The Bangladesh Securities and Exchange Commission (BSEC) has set a target of approving initial public offerings (IPOs) within a maximum of three months of application under the new rules, aiming to cut long delays in the process. "To resolve the IPO crisis in the capital market, the time taken for IPO approval will be significantly reduced under the new process. We will definitely approve IPOs within three months," BSEC Chairman Masud Khan said Sunday. He made the remarks at the inaugural ceremony of World Investor Week 2026 at the Krishibid Institution Bangladesh (KIB) auditorium in the capital. Masud Khan said that after taking charge, the commission identified complexities in the IPO rules and moved to reform them. "The new IPO rules will ensure the entire process, from application to approval, is completed swiftly." The Dhaka Stock Exchange (DSE), the Chittagong Stock Exchange (CSE) and the BSEC will carry out their related activities in a coordinated manner, which the commission believes will reduce the time spent at different stages after a company applies for an IPO. "A two-year drought, an IPO drought, cannot be allowed to continue for long," the BSEC chairman said, stressing the need for quick steps to end the prolonged absence of new companies in the market. He said direct listing will also be allowed for bringing new companies to the market, though eligibility criteria will be stricter than before. Only highly qualified and strong companies will get the opportunity, he added, which will help bring quality firms to the market while protecting investors' interests. To attract multinational and large local companies, a new hybrid method will also be introduced alongside direct listing. "Under it, a portion of shares will be offered to the public, while the rest will be floated through the sale of existing owners' shares," Masud said. Highlighting the commission's reform measures, the BSEC chairman said one of its key decisions after assuming office was scrapping the floor price. He said Bangladesh's position in the index of global index provider MSCI was hurt after the floor price was introduced in 2023. "The withdrawal was aimed at restoring foreign investors' confidence." Referring to steps concerning Beximco, he said the board of the company has been reconstituted and other necessary measures taken. "Through these steps, efforts are under way to rebuild investor confidence in the capital market." Masud Khan said greater emphasis is being placed on digitisation to protect investors and boost confidence in the market. "Initiatives are being taken to bring the back-office software of brokerage houses under an integrated system with real-time connectivity, enabling the regulator to view brokers' accounts and bank balances at any given time." He said an order management system will be introduced, with a shift from paper slips to automated processes. In his words, digitisation is now the "new currency" in the capital market. The BSEC chairman said steps are also being taken for quick resolution of investors' complaints and cases. Necessary amendments, harmonising the securities law and the relevant ordinance, have been sent to the ministry for final approval. Once enacted, the commission is expected to be able to file cases directly within its own timeframe. BSEC is also focusing on developing the bond market. He said bonds worth around Tk 3,000 crore have been approved since he took office, but issuers have been required to be listed on the main board. He said the bond market needs effective linkage with the stock market, and initiatives are being taken to expand various types of bonds, including green bonds. Masud Khan said there is ample scope to increase institutional investment in the capital market. "Policy initiatives may be taken in future to allow a portion of pension funds, gratuity funds and insurance company money to be invested in corporate bonds and shares." He described the insurance sector as full of potential, saying it has long remained largely inactive and needs to be made more active in the market. He also stressed developing the mutual fund sector. The BSEC chairman said Bangladesh's market capitalisation is still low compared to many countries, and increasing it would naturally boost trading volume. As part of long-term reforms, work is also under way on a derivatives market, a review of the effectiveness of credit rating agencies, and improvement of the clearing and settlement system, he said. Masud Khan said the BSEC does not want to confine World Investor Week programmes to a single week. Work to raise investor awareness, rebuild confidence in the market and improve its structure will continue, he added.

Industries Minister Khandakar Abdul Muktadir on Thursday said eliminating overlapping projects run by different ministries could ensure double-digit efficiency gains as the government moves to review such duplication to boost national productivity. Speaking at an event organised by the Ministry of Industries in Motijheel, he said efforts are underway to examine whether projects implemented by different ministries overlap. “No issue today is confined to one country; we have to look at the whole world,” the minister said, adding that it is not possible to remain outside the existing global system even if one wishes to. “So, there is no alternative to raising productivity. The nation that increases productivity will be the one that advances,” he said. Pointing to the ready-made garment (RMG) sector, Muktadir said it has demonstrated how progress can be achieved even with workers from marginalised sections of society. Speaking at the event, Centre for Policy Dialogue (CPD) Executive Director Nazneen Ahmed said small enterprises need support to grow into medium-sized ones, and that the government coordinates with various sectors to facilitate such growth. She stressed the need to examine whether these initiatives involve duplication. Nazneen said the government needs assistance in designing productivity training, adding that replacing people with machines should not be the goal. Instead, she said, attention should be given to how machinery and technology can enhance workers’ skills, while innovation also needs to be increased. The CPD executive director noted that women’s participation in large industries is declining. “Women cannot take the skills training required for automation because of household pressures, so they are falling behind in skill-based jobs,” she said. She also proposed a refinancing scheme for the SME sector, saying linking loans to productivity improvement could lead to significant growth in the sector.

Finance Minister Amir Khosru Mahmud Chowdhury on Thursday said transactions through Bangla QR codes will be completely free as the government moves to build a cashless Bangladesh and promote the digital economy. “There will be no fees or charges for transactions through Bangla QR. Any transaction using the QR code will be completed free of cost, without any additional charge,” he said. The minister was speaking after inaugurating shopping through Bangla QR at Banani Kitchen Market in the capital and inspecting QR code-based transactions there. He said the government plans to bring people from all sections of society including fuchka sellers, rickshaw pullers and small traders under QR code-based digital financial services. Under the system, even small traders and street vendors will be able to receive payments directly into accounts with any bank or service provider using QR codes, he said. “This will remove the need for people to carry cash and make transactions easier and faster,” the minister said. Khosru said some minor technical challenges or temporary problems might emerge during the initial stage, but those could be resolved quickly. He said cashless transactions have already proved to be convenient and secure in many developed and fast-growing economies around the world. “Bangladesh Bank is also working to make this international practice universal in Bangladesh,” he said. The minister urged citizens, businesses and service providers to participate in the government initiative without hesitation to help build a cashless and secure economic system.

Digital transactions through the universal Bangla QR system have surged sharply over the past 90 days, with average daily transaction value rising from around Tk 28 crore in June to Tk 143.54 crore currently, Bangladesh Bank said Wednesday. The number of daily transactions has also increased 3.5 times during the period, from around 100,000 in June to nearly 350,000 now. Bangladesh Bank Executive Director and Spokesperson Arif Hossain Khan disclosed the performance metrics during a press briefing at the central bank headquarters on Wednesday. Senior officials from the Payment Systems Department jointed the briefing. At present, customers of various banks and Mobile Financial Service (MFS) providers can make payments across nearly 3.9 million (39 lakh) merchant points nationwide by scanning Bangla QR codes through their financial apps. To accelerate the transition toward a cashless economy, Bangladesh Bank mandated the replacement of all proprietary QR codes with the universal Bangla QR framework on July 1. New Facilities Effective October 1 To further boost adoption, several new incentives and operational changes will take effect on October 1. Under the revised guidelines, payments made via Bangla QR will be credited to merchants' accounts instantly. Additionally, the central bank has abolished the minimum 1 percent Merchant Discount Rate (MDR) for acquiring institutions and set the Interchange Fee (IRF) for issuing institutions at zero percent. This policy shift is designed to significantly lower transaction costs for merchants, allowing banks and MFS providers to offer Bangla QR services at nominal fees or free of charge. Furthermore, Bangladesh Bank will provide a financial incentive of 0.10 percent to acquiring institutions and 0.20 percent to issuing institutions on Bangla QR merchant transactions up to Tk 2,000. P2P Transfers from November 1 To expand the operational scope of Bangla QR, Person-to-Person (P2P) inter-institutional transactions will launch on November 1. Under this system, individual customers can transfer funds directly to another individual by scanning a QR code or uploading a saved QR code image into their payment app. Addressing transaction failures, Bangladesh Bank has also strengthened mechanisms for swift refunds. The central bank issued detailed guidelines on September 27 to ensure transparent and rapid resolution of transaction disputes. Customers experiencing issues with Bangla QR transactions can lodge complaints directly via the Bangladesh Bank hotline at 16236.

Southeast Bank PLC will raise Tk 800 crore through the issuance of its “Southeast Bank 6th Subordinated Bond”. According to Bangladesh Securities and Exchange Commission (BSEC) sources, the approval was given at the commission’s 1,031st meeting on Tuesday, chaired by BSEC Chairman Masud Khan. The seven-year bond will be fully redeemed at maturity and will be non-convertible and unsecured. Its coupon rate will be set at the reference rate plus 3 percent. The bond will be issued through private placement to institutional investors and high-net-worth individuals, with a face value of Tk 5 lakh per unit. Southeast Bank will use the proceeds to strengthen its Tier-2 capital base under Basel III requirements. DBH Finance PLC will act as the trustee, while UCB Investment Limited will serve as the issue manager. The bond will be listed on the main boards of both stock exchanges in Bangladesh.

Bangladesh Bank (BB) has issued its first comprehensive operational guidelines for Islamic credit cards, prohibiting commercial banks from generating extra revenue from growing customer debts or delayed bill payments. According to the directive issued by the central bank on Tuesday, any scheduled bank currently offering Islamic banking services is eligible to issue Taka-denominated cards. However, banks must hold Authorised Dealer (AD) licences to issue foreign currency or dual-currency cards. Under the new policy, all credit purchases, cash advances, and delayed payment periods will be treated strictly as “Qard Hasan” (an interest-free loan). Banks are prohibited from charging any profit or interest on these loan amounts. They can only levy fixed service fees (Ujrah) for specific, identifiable services rendered. Furthermore, banks are barred from using Mudarabah deposit funds—where depositors place money to earn profits—to finance credit card operations. Service charges, including card issuance, renewal, account maintenance, and cash withdrawal fees, cannot exceed the "actual direct cost" incurred by the bank. The central bank also restricted banks from passing merchant discount commissions on to cardholders. Any excess funds collected under this head must be refunded to customers at year-end or donated to charity. Elaborating on the fee cap, BB stated that if issuing and maintaining a card costs a bank Tk 800 annually, the maximum service fee charged cannot exceed Tk 800. Charges benchmarked as a percentage of the credit limit (e.g. 2 percent of the credit limit) or outstanding balances are strictly banned. Similarly, cash advance fees must be set as a flat amount rather than a percentage of the withdrawn amount. Cardholders who miss payment deadlines will be required to donate a pre-committed fixed amount to charity. Banks cannot record these penalty funds as corporate income. Since the charity amount is fixed upfront, it cannot escalate based on the length of delay. For example, if the agreed charity penalty is Tk 500, a customer delaying payment by two days or two months will donate the exact same sum of Tk 500. Cardholders will get a five-business-day cooling-off period following approval, during which they can cancel the card without penalty. Banks must issue a 30-day advance notice before modifying any fees or terms. Cardholders will not be held liable for fraudulent or unauthorised transactions. Unapproved transactions made after reporting a lost or stolen card must be refunded within seven working days. Cash withdrawals are capped at a maximum of 50 percent of the total credit limit, and banks are instructed to set credit limits conservatively to prevent over-indebtedness. Islamic credit cards cannot be used to purchase goods or services prohibited under Shariah law. Banks must implement Merchant Category Codes (MCC) to automatically block such transactions at the Point of Sale (POS). Mandatory blocked categories include alcohol, gambling, tobacco, and cryptocurrency trading. Additionally, banks are required to conduct annual Shariah audits and submit a consolidated compliance report to Bangladesh Bank within two months of the financial year-end. Any earnings derived from non-compliant transactions must be immediately disbursed to charity.