United News of Bangladesh

Niaz Ahmed from Sylhet has won a Royal Enfield motorcycle by referring the bKash app to the highest number of people during a recent referral campaign. The award was presented to Niaz at the Royal Enfield showroom in the capital's Tejgaon, recently, bksah said in a media statement on Saturday. bKash offers refrigerator, TV for top remittance receivers this Eid In addition to the grand prize, other top referrers received various attractive prizes. Moreover, for each successful referral during the campaign, referrers earned a BDT 50 bonus. The campaign ran from November 15, 2024, to December 29, 2024, and rewarded the highest referrers. Participants referred non-bKash app users through their unique referral links within the app. The bKash app continues to enhance its platform by introducing new and innovative services. This campaign aimed to motivate customers to explore and familiarize themselves with these new features through the app. Up to Tk 6,000 discount and cashback on Eid shopping with bKash payment Sharing his thoughts, Niaz said, “I often take part in bKash’s campaigns. My main goal was to encourage my near and dear ones to start using the bKash app for their financial needs, and I’m thrilled to have won the Royal Enfield as a result. It’s a wonderful feeling—thank you, bKash!”

Banking transactions across both public and private banks concluded in a busy atmosphere on Wednesday, the last working day before the Eid-ul-Azha holidays, with customers crowding branches to withdraw cash. A visit to several banks in the capital revealed long queues from the morning, as customers stood in line to withdraw money. Transactions on the day were significantly higher compared to other working days. Bank officials said the majority of customers came to withdraw large sums of money, mainly to purchase sacrificial animals. With banks scheduled to remain closed for 10 consecutive days during the Eid holidays, many also withdrew cash for other festival-related expenses. Moinul Hasan, a senior official at the Banani branch of Standard Bank, said, “Every year, there is pressure on banks the day before Eid-ul-Azha. This year is no exception. Many customers are withdrawing savings to meet the cost of Qurbani.” When asked whether the pressure was causing any difficulty in cash disbursement, Jasim Uddin, manager of Social Islami Bank’s Banasree branch, said, “The bank has sufficient cash. Due to heavy customer flow, there may be some delays in certain branches, but there is no cash shortage.” FICCI responds in detail to budget, flags concern over tax hikes Some customers, however, expressed dissatisfaction, alleging delays in receiving large amounts of money against cheques. Many reported having to wait for extended periods. Mir Hasan, a customer of a private bank, said, “I came in the morning with a cheque for Tk 2 lakh. At first, they told me to come after lunch. Later, they said they couldn’t give Tk 2 lakh at once—I would have to take Tk 1 lakh now and collect the rest in the last hour.” The rush wasn’t limited to private banks—state-owned banks also experienced similar pressure. At Sonali Bank’s Motijheel branch, long lines of customers were seen waiting to withdraw cash. Mamunur Rahman, one such customer, said, “I came to buy cattle at the Kamalapur market. Thought I’d withdraw cash first. But the crowd at the bank is overwhelming.” ATM booths also saw significant crowds, with queues in some areas extending onto nearby streets. Many customers also faced server issues while trying to withdraw money from booths. Mashayet Priyoti, one of the affected customers, said, “I waited in line for half an hour outside and another 15 minutes near the booth because of server issues. Thankfully, I was eventually able to withdraw the money.” Commenting on the situation, Bangladesh Bank Executive Director and spokesperson Arif Hossain said, “To reduce customer pressure, people are being encouraged to use digital transactions, especially at cattle markets digital payments can also ensure better security.” The Eid-ul-Azha holidays will begin from June 5, and banks along with government offices will remain closed until 14 June. However, to facilitate payment of wages and bonuses to garment workers and ensure smooth import-export operations, scheduled bank branches in industrial areas will remain open on June 5, 11 and 12.

Trading at the Dhaka and Chattogram stock exchanges began on a positive note on Wednesday, the fourth working day of the week, with most listed companies witnessing price increases. At the Dhaka Stock Exchange (DSE), the benchmark index DSEX rose by 25 points. The other two indices also edged up -- the Shariah-based DSES gained 5 points while the blue-chip index DS30 advanced by 10 points. Most of the traded companies saw their share prices rise, with 229 gaining, 62 losing and 86 remaining unchanged. In the first two hours of trading, the DSE recorded transactions worth over Tk 75 crore in shares and units. Dhaka stocks extend losses, Chattogram index edges up Meanwhile, the overall index of the Chattogram Stock Exchange (CSE) increased by 29 points. Out of 77 companies that participated in trading on the CSE, prices rose for 31, fell for 29, and remained unchanged for 17. The first half of trading at the CSE saw shares and units exchanged worth over Tk 3 crore.

Export and import activities between Bangladesh and India through Benapole land port will remain suspended for 10 days on the occasion of Eid-ul-Azha. Mamun Kabir Talukdar, Deputy Director of Benapole Land Port, said trade operations will be closed from June 5 to 14 in line with government directives. “Security measures have been intensified to prevent any sabotage or untoward incidents during the holiday,” he said, adding that Benapole police station has been alerted accordingly. Aminul Haque Anu, President of the Benapole Port Import and Export Association, said no loading or unloading of goods will take place during this period. 36 garments-laden trucks stranded at Benapole port Port activities are scheduled to resume on June 15. However, Ibrahim Ahmed, officer-in-charge of Benapole Checkpost Immigration Police, said immigration services at the land port will continue to operate as usual during the holidays.

The Institute of Chartered Accountants of Bangladesh (ICAB) congratulated the interim government on the announced budget of FY2025-26, praising its strategic and timely approach amid global and domestic economic challenges. While commending several key initiatives, ICAB also highlighted areas requiring further consideration, particularly regarding the tax rate for "cashless companies." People first, not mega projects: Interim govt unveils first national budget Maria Howlader FCA, President of ICAB, stated, "We thank the Finance Minister for declaring such a strategic and time-befitting budget by paying attention to the details and by thorough analysis considering economic turmoil." ICAB welcomed the budget's overall size, amounting to Tk7.9 lakh crore and specifically lauded the ambitious development budget of Tk2.3 lakh crore, describing it as "a very encouraging step to move forward for a developing economy like ours" despite prevailing international conflicts, internal political shifts, high inflation, and global uncertainties. DoE continues anti-pollution drive across the country   A significant positive noted by ICAB is the emphasis on expanding the tax net to enhance the tax-to-GDP ratio. The institute expressed confidence that the joint initiative between the NBR and ICAB in implementing the Document Verification System (DVS) will "facilitate significantly to achieve the targeted revenue."

The Foreign Investors Chamber of Commerce and Industry (FICCI) has given a mixed reaction to the national budget for FY2025- 26. In a statement, FICCI highlighted the budget's commitment to easing burdens on specific sectors and promoting a predictable tax system. The reduction of the source tax for construction companies and essential goods is a pragmatic move that will offer good relief to these vital industries. The chamber also lauded the decision not to tax dividends received from a Joint Venture by a JV partner, preventing double taxation. Furthermore, FICCI commended the alignment with international best practices by ensuring the Double Taxation Avoidance Agreement takes precedence over the Income Tax Act 2023. Other positive aspects noted by FICCI include the simplification of advance tax for commercial importers (though acknowledging potential cost escalation for low value addition), the extension of the rebate and refund period from four to six months for businesses, and the digitization of sales and purchase records through ERP systems, eliminating the need for hard copies. Amendments to the Customs Act, 2023, aimed at modernization, tariff restructuring, and reduced penalties for violations, were also welcomed as steps towards simplifying import processes. The proposed allocation of Tk5,040 crore for the Public-Private Partnership (PPP) fund in FY2025-26 was seen as a supportive measure for increasing foreign investment. TIB comes down hard on govt for retaining black money whitening provision However, FICCI raised several contentious points. A major concern is the imposition of an additional 7.5 percent corporate tax on publicly traded companies with less than 10 percent of their shares issued through an Initial Public Offering (IPO), deeming its impact "discriminatory." Equally troubling, according to FICCI, is the withdrawal of the reduced tax rate previously available for companies’ conducting transactions through banking channels. This is a counter-productive measure to the nation's efforts to establish a cashless society and places Bangladesh at a disadvantage compared to economies like Vietnam and Indonesia, the chamber asserted. The chamber also expressed apprehension regarding salaried taxpayers, stating that while the increase in the tax-exempt income threshold at the entry level is positive, the "overall changes introduced in the tax structure are likely to impose an additional burden on middle-income earners when viewed in totality." A significant increase in VAT on online sales, from 5 percent to 15 percent, was also flagged as a measure that will make it difficult for the online business industry to survive and will make it even harder to expand business further, said FICCI.

The proposed national budget has fallen short of meeting the expectations of the business community in fostering a conducive environment for business growth and investment, said Dhaka Chamber of Commerce & Industry (DCCI) President Taskeen Ahmed in his initial reaction on Monday. “We have seen a few positive steps such as initiatives to control inflation, certain tax waivers, an automated return system, reduction of some advance taxes, the proposal for a central bonded warehouse, and VAT exemption on LNG imports. However, overall, it is a mixed budget, and businesses will still face pressure due to some of the tax burdens,” he said. On the issue of the tax-free income threshold, he noted that it has remained largely unchanged this year. This, he added, will place an additional tax burden on taxpayers—particularly middle-income groups and service holders—from the next fiscal year. Taskeen welcomed the proposed Tk100 crore fund for youth entrepreneurs as a positive initiative, but expressed concern that online sellers will face additional costs, which could discourage new startups. He pointed out that although internet costs have been reduced, the proposed VAT hike on mobile phones may hinder progress in the country’s digitisation process. Expressing dissatisfaction over the proposed increase in import duty on automobile spare parts—from 10 percent to 25 percent—he warned that this would adversely affect the local automotive industry. TIB comes down hard on govt for retaining black money whitening provision The DCCI President also termed the revenue collection target as ambitious and said that the government's continued reliance on indirect taxes poses a challenge. Taskeen further cautioned that the government’s dependency on local banks to meet the budget deficit would reduce credit flow to the private sector. He criticised the proposal to raise the turnover tax from 0.6 percent to 1 percent, saying it would raise the cost of doing business. Taskeen urged the government to lower the cost of borrowing for businesses, suggesting an ideal rate between 6 and 7 percent to support growth. Finally, Taskeen stressed the importance of quality implementation of the Annual Development Programme (ADP) and called for austerity in government expenditure.

Bangladesh Bank has awarded privately owned NRBC Bank a ‘Letter of Appreciation,’ as the best participant in the international program on financial inclusion. On Sunday (June 1), NRBC Bank Managing Director and CEO Dr. Md. Touhidul Alam Khan received the letter of appreciation from Bangladesh Bank Deputy Governor Dr. Md. Habibur Rahman. Bangladesh Bank’s Financial Inclusion Department Executive Director, Md. Saiful Islam Khan was present on the occasion. The Financial Inclusion Department of Bangladesh Bank awarded this recognition to 10 banks that participated in the experience exchange and product exhibition under the Bangladesh Bank-Alliance for Financial Inclusion (AFI) joint learning program. At the event, Deputy Governor Habibur Rahman said that financial inclusion activities work as a strength of the economy. By reaching out to the marginalized, banks encourage people to save, create awareness about banking services, and play a role in increasing people's income. These activities help to eliminate income inequality in society, he said. “We are happy to recognize 10 banks that are pioneers in financial inclusion activities. The activities of these banks have brightened the image of the country in the international arena,” he pointed out.

Mahmud Hasan Khan, the panel leader of ‘Forum’ and Managing Director of Rising Fashions, has won 31 out of 35 director posts in the BGMEA election for the 2025–27 tenure. In the Dhaka region, Mahmud Hasan Khan secured the highest number of votes, receiving 1,149. This marks the Forum’s most significant victory in over a decade in the BGMEA elections. Forum candidates won 25 of the 26 posts in the Dhaka region. The elected directors are Mahmud Hasan Khan, Shah Raed Chowdhury, Mizanur Rahman, MA Rahim, Faisal Samad, Mohammad Abdus Salam, Kazi Mizanur Rahman, Md Shihab Uddoza Chowdhury, Inamul Haque Khan, Md Hasib Uddin, Mohammad Sohel, Sheikh HM Mostafiz, Vidya Amrit Khan, Joaddar Mohammad Hosne Qamar Alam, ABM Shamsuddin, Nafis-ud-Daula, Sumaiya Islam, Anwar Hossain Chowdhury, Majumder Arifur Rahman, Fahima Akhter, Asef Kamal Pasha, Rashid Ahmed Hossaini, Rumana Rashid, Samiha Azim and Rezwan Selim. Faruque Hassan of Sammilita Parishad won the remaining post in Dhaka. BGMEA election underway; Forum and Sammilito Parishad leaders hopeful of victory In the Chittagong region, Forum candidates secured 6 out of 9 posts. The winners are Selim Rahman, M Mohiuddin Chowdhury, Sakif Ahmed Salam, Md Sharif Ullah, Mohammad Rafiq Chowdhury and Enamul Aziz Chowdhury. The remaining three posts in Chittagong were won by Syed Mohammad Tanvir, SM Taib and Rakibul Alam Chowdhury of the Sammilita Parishad. Three electoral alliances -- the Forum, Sammilita Parishad, and Oikya Parishad -- contested the election for the 35 director posts of the organisation. While the Forum and Sammilita Parishad fielded candidates for all posts in both Dhaka and Chittagong, the Oikya Parishad nominated only six candidates. In total, 76 candidates contested the election. Md Abul Kalam, Managing Director of Chaiti Group, led the Sammilita Parishad, while Mohammad Mohsin, Chairman of Rumo Fashion, led the Oikya Parishad. Mohammad Iqbal served as chairman of the election board, with Syed Afzal Hossain and Ashraf Ahmed as members.

TECNO marked a major milestone in its journey recently with the grand opening of its largest flagship store in South Asia, located at Centrepoint, Uttara. To commemorate the opening, TECNO announced exclusive in-store offers available from May 30 to June 4. Designed as a hub for immersive technology experiences, the new store launch also served as a high-energy celebration of the recently introduced CAMON 40 Series, reinforcing TECNO’s commitment to delivering intelligent innovations to the region. The 2,600 square foot store represents a new era for TECNO in Bangladesh, where customers can experience the brand’s AI-driven product ecosystem in a fully interactive environment. Visitors explored hands-on demo zones featuring TECNO’s latest AIoT innovations, including the MEGA Mini Gaming G1, Pocket Go TWS, AI Smart Glasses, Dynamic 1 Smartwatch, and a wide range of tablets and smart devices that together define the future of connected living. Themed ‘The Era of TECNO AI’, the launch event brought together a dynamic mix of technology enthusiasts, industry stakeholders, and familiar public figures. The celebration featured captivating live performances from Minar Ahmed, Xefer, Habib Wahid, and Masha, alongside a striking AI Lifestyle Fashion Show curated by Azra Mahmood. Popular content creators from across the country were also present, capturing the experience and amplifying the excitement across digital platforms. A key highlight of the evening was the flash launch celebration of the CAMON 40 Series, including the CAMON 40 Pro. Guests experienced the smartphone’s standout features, such as the 50MP Sony LYT-700C Ultra Night Camera, the intuitive One-Tap FlashSnap photography mode, and its dust and water resistance with IP68 and IP69 ratings. The CAMON 40 Series has already set a new benchmark for mobile photography, and the event allowed fans and tech enthusiasts to explore its capabilities in real time. Speaking at the event,bRezwanul Hoque, CEO of Ismartu Technology BD Ltd., stated, “This flagship store is more than a retail destination. It is a space where people can engage with innovation in meaningful ways and see how TECNO’s AI-powered products are shaping the future of everyday life.” Customers visiting during this period can enjoy significant discounts on laptops and smart gadgets, receive complimentary data bundles, and take-home branded gifts such as screen protectors and water bottles. With the launch of its largest flagship in South Asia, TECNO is reaffirming its leadership in AI integrated consumer technology and strengthening its presence in Bangladesh’s rapidly evolving digital landscape. The Centrepoint store stands as a bold step toward making advanced technology more engaging, accessible, and relevant to modern lifestyles. The TECNO Flagship Store at Centrepoint, Uttara is now open daily. Visitors can now experience the future of smart living of TECNO first-hand in this store.