United News of Bangladesh

The board of directors of Islami Bank Bangladesh on Monday underscored the importance of ensuring uninterrupted customer services and accelerating the collection of outstanding loans. The board, in its meeting at Islami Bank Tower, also emphasised the opening of Letters of Credit (LCs) for essential goods in line with central bank guidelines ahead of Ramadan, according to a press release. Professor Dr. M. Zubaidur Rahman, chairman of the bank, presided over the meeting. Other participants included Mohammad Khurshid Wahab, chairman of the executive committee; Md. Abdus Salam, FCA, FCS, chairman of the audit committee; Professor Dr. M. Masud Rahman, chairman of the risk management committee; Md. Abdul Jalil, independent director; Md. Omar Faruk Khan, managing director; Professor Dr. Mohammad Abdus Samad, member secretary of the shari’ah supervisory council; and Md. Habibur Rahman, company secretary.

Bangladesh Bank has set a target to establish a fully interoperable digital transaction system by July 2027, linking banks, Mobile Financial Services (MFS), insurance firms and other financial institutions, said Governor Dr Ahsan H Mansur. The Governor made the announcement at a programme titled ‘Instant Payment in Bangladesh: Unveiling Inclusion Opportunities’ held at a hotel in Dhaka on Monday. Addressing the current state of digital payments, the governor admitted that Bangladesh Bank's existing interoperable payment system, launched on November 1, has not been successful so far. "Although the interoperable system has been launched, it has not been successful because many institutions are not conducting transactions through it," said Dr Mansur. To overcome this hurdle and accelerate the shift toward a cashless economy, the central bank has signed an agreement with the ‘Gates Foundation’s Mojaloop’ to establish a new Instant Payment Platform. The agreement was virtually signed for security reasons. Introducing IIPS The new Mojaloop-based platform will be named the Inclusive Instant Payment System (IIPS). Governor Mansur highlighted the key feature of the new system: it will eliminate the need for cash-out transactions, facilitating seamless digital transfers across the entire financial ecosystem. The Governor emphasised the mandatory nature and benefits of this digital transformation, saying, “We must transform our entire transaction ecosystem into a cashless one. Banks, MFS operators, agent banking and financial institutions everyone must be brought under a single channel. The plan is to launch it by July 2027.” He pointed out that this shift to the IIPS is vital for macroeconomic stability. “In the future, there will be no alternative but to move towards this system. It will increase transparency, reduce corruption, and boost revenue collection.”

The government has issued the ‘Deposit Protection Ordinance, 2025’ to enhance the protection of depositors and increase public confidence in the country's banking sector. Considering the importance of financial sector stability during the dissolution of parliament, the president promulgated the ordinance using the power vested under Article 93(1) of the constitution. This ordinance repeals the existing ‘Deposit Insurance Act, 2000,’ and introduces a modern framework. The information was revealed through a circular published on Sunday (November 23) by the Deposit Insurance Department of the Bangladesh Bank. The primary objective of the new law is to ensure the protected return of deposits placed with both Bank Companies and Finance Companies. New Department: A separate Deposit Protection Department will be established under the Bangladesh Bank to oversee the protection programme. This department will be responsible for collecting regular premiums, fund management, inspecting member institutions, settling claims, and conducting awareness programs. Fund Structure: The ordinance mandates the formation of two separate Deposit Protection Funds for bank and finance companies. These funds will be managed using premiums collected from member institutions, fines, investment income, and other approved sources. Governing Body: The administration of the funds will be overseen by the Bangladesh Bank's Board of Directors, which will act as the 'Trustee Board'. Membership: Newly licensed bank and finance companies must submit an initial premium at a prescribed rate. All existing bank companies will automatically be considered member institutions under this law, while finance companies will be included from July 1, 2028. The law also includes provisions for the collection of risk-based premiums on a quarterly basis. Coverage and Claim Settlement The ordinance explicitly excludes certain classes of deposits from protection, including those belonging to the government, foreign entities, and international organizations. Conversely, deposits made by general individuals or institutions will be considered 'protectable' and will be secured up to a defined limit. In the event of a bank or finance company's liquidation or resolution, the Deposit Protection Department will directly pay the secured deposits. If necessary, the protection process can also be managed by transferring assets and liabilities to a bridge bank or a third party through the resolution authority. The Bangladesh Bank has also been empowered under this law to sign Memoranda of Understanding (MoU) with domestic and foreign regulators, exchange information, receive technical assistance, and conduct deposit protection activities in line with international standards. Experts believe the implementation of this new law will increase the financial sector's capacity to manage risk and combat crises, providing depositors with greater protection. END/UNB/AI/ssk

Trading at both the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened on a downward trend on Sunday, with most listed companies seeing a decline in share prices during the first hour. On the DSE, the benchmark DSEX index slipped by 7 points, while the Shariah-based DSES shed 3 points. The blue-chip DS30 index also dropped by 8 points. The market breadth also remained negative, as prices fell for the majority of traded issues. Against 116 gainers, 200 issues declined, while 56 remained unchanged. Stock market rebounds as DSEX gains 166 points, rises 1.2% over week The DSE recorded turnover of over Tk 160 crore during the first half of the session. A similar downtrend persisted at the CSE, where the broad index fell by 8 points. Of the traded issues, 35 advanced, 48 declined and 7 remained unchanged. The turnover on the CSE stood at Tk 4.10 crore in the early session.

Bangladesh Bank (BB) on Sunday officially halted all direct customer services, including the sale of savings certificates and prize bonds, exchange of torn or damaged banknotes and automated challan services, following an earlier announcement. The central bank has directed commercial banks to ensure smooth and uninterrupted services in these areas, while intensifying monitoring activities to safeguard the transition. In a notice issued last Thursday, BB highlighted that central banks worldwide do not provide such services directly at their counters. The decision, it said, was also driven by security concerns, which were cited as a Key Performance Indicator (KPI). Originally, the suspension was planned to begin at the Motijheel office from November 30, with other branches following later. BB to halt sale of savings certificates, prize bonds The timeline was, however, advanced, and the central bank decided to stop all direct services at all its offices simultaneously starting today. Until now, BB’s Motijheel office, along with its branches in Sadarghat, Chattogram, Khulna, Barishal, Rangpur, Bogura, Rajshahi, and Sylhet, had been providing these customer services.

After two consecutive reductions, gold prices in the domestic market have surged again, with the Bangladesh Jewellers Association (BAJUS) raising the rate by Tk 2,612 per bhori for 22-carat gold. The new price has been set at Tk 209,520 per bhori, effective from Thursday. BAJUS announced the revised rates in a statement issued on Wednesday night, citing an increase in the price of pure gold (tejaabi gold) in the local market as the main reason for the adjustment. As per the new tariff, the price of 22-carat gold per bhori (11.664 grams) will be Tk 209,520. The price of 21-carat gold has been fixed at Tk 200,003 per bhori, 18-carat gold at Tk 171,426 per bhori, and traditional gold at Tk 142,592 per bhori. In addition to the selling price, buyers must pay a mandatory 5 percent government VAT and a minimum 6 percent BAJUS-set making charge. However, the making charge may vary depending on the design and craftsmanship of the jewellery. Earlier, on November 18, BAJUS last adjusted gold prices, lowering the 22-carat rate by Tk 1,364 to Tk 206,908 per bhori. With this latest revision, gold prices have been adjusted 79 times so far this year, 54 increases and 25 decreases. Despite the price hike, silver rates remain unchanged. A bhori of 22-carat silver is still selling at Tk 4,246 in the domestic market.

Stocks opened higher at both the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) on Wednesday, with most companies posting gains in the first hour of trading. During the opening hour, DSE’s benchmark index, DSEX, gained 46 points, while the Shariah-based DSES and the blue-chip DS30 indices each advanced 10 points. Out of 302 traded companies, prices increased for 302, declined for 24, and remained unchanged for 46. The turnover on the DSE exceeded Tk 180 crore in the first hour. Stocks open higher at DSE, CSE The CSE also saw an upbeat start, with its overall index rising by 59 points. Among 102 traded issues, 72 advanced, 18 declined, and 12 remained unchanged. The first-hour turnover at the CSE crossed Tk 3 crore.

Despite the plenty supply of vegetables with the arrival of winter, retail prices of most vegetables in Khulna’s kitchen markets continue to rise, adding pressure on household budgets already strained by increased fish and potato prices. Only a few staples, including green chillies, onions and meat, have remained stable, while egg prices have slightly fallen. Visiting the city’s Moylapota and New Market kitchen markets on Tuesday the correspondent found that several winter vegetables are selling at higher prices compared to last week. Eggplant is selling at Tk 120 per kg, yardlong beans at Tk 80, cabbage at Tk 60, radish at Tk 50, cauliflower at Tk 100, beans at Tk 120, bitter gourd at Tk 100, , papaya at Tk 40, snake gourd at Tk 60, bottle gourd at Tk 40–50 depending on size, okra at Tk 80, , spinach at Tk 60, red amaranth at Tk 50, tomato at Tk 160, pumpkin at Tk 60, ridge gourd at Tk 60 and a bunch of green bananas at Tk 40. Potato prices increased to Tk 30 per kg from Tk 25 last week while onions are selling at Tk 120 per kg and garlic at Tk 100. Prices of winter vegetables drop in Khulna, essentials continue to rise The fish market is also seeing a sharp rise. Shrimp is selling at Tk 850 per kg while different varieties of river prawn range between Tk 550 and Tk 1,200. Golda prawn is priced at Tk 1,600 per kg and large-sized katla and grass carp are retailing at Tk 400, vetki at Tk 750, and hilsa between Tk 1,400 and Tk 3,000 depending on size. Tengra is selling at Tk 500–1,000, Pangas at Tk 240, tilapia at Tk 220, and medium-sized bele at Tk 700. Broiler chicken is being sold at Tk 170 per kg, while sonali and cockerel varieties are priced at around Tk 270. Egg prices dropped by Tk 2 from last week with a dozen selling for Tk 38–42. Traders at New Market said vegetable supply has fallen short of demand. Badal, a trader at New Market, said, “Supply is low. The volume of vegetables is far less than needed. Even a few days ago the inflow was much better.” Buyers expressed frustration as daily expenses continue to climb. Mizanur Rahman, a businessman shopping at the market, said, “Prices keep going up and down. It’s hard enough to buy basic vegetables and thinking about fish or meat is difficult.” Traders at Moylapota said when supply drops, prices rise and when supply improves  prices come down. Prices of all types of meat and chicken up while vegetables remain stable on Friday Tuhin Baulia, a customer at the market, said he expected winter to bring some relief. “Winter is here. Prices should be falling gradually. But with limited income, it’s getting very tough to manage household expenses,” he added.

Gold prices in the domestic market have been reduced once more, with the Bangladesh Jewellers Association (BAJUS) cutting the price of 22-carat gold by Tk 1,364 per bhori. The new price for 22-carat gold has been set at Tk 206,908 per bhori, effective from Wednesday. BAJUS announced the revised rates in a statement on Tuesday night, citing a decrease in the local market price of pure gold (tejabi gold) as the reason for the adjustment. According to the new price chart, 21-carat gold will now cost Tk 197,495 per bhori, 18-carat gold Tk 169,291 per bhori, and traditional method gold Tk 140,761 per bhori. In addition to the base price, buyers must also pay a mandatory 5 percent VAT and a minimum 6 percent making charge fixed by BAJUS, though making charges may vary depending on design and craftsmanship. BAJUS last revised the gold prices on November 15, when the price of 22-carat gold was reduced by Tk 5,447 to Tk 208,272 per bhori. With the latest revision, gold prices have been adjusted 78 times so far this year — increased 53 times and reduced 25 times. Meanwhile, silver prices remain unchanged, with 22-carat silver selling at Tk 4,246 per bhori.

After a prolonged downward trend, Bangladesh’s capital market has begun to recover, buoyed by three consecutive days of gains at both the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE). At the DSE, the key index DSEX advanced by 71 points at the end of Tuesday’s trading session. The Shariah index (DSES) rose by 17 points, while the blue-chip index (DS30) gained 19 points. Most shares saw an uptick in prices, with 320 companies advancing, while 38 declined and 19 remained unchanged. The turnover also strengthened, climbing to Tk 475 crore, up from Tk 348 crore in the previous session. In the block market, shares worth Tk 31 crore were traded across 34 companies, with Prime Bank topping the chart by executing trades worth Tk 13 crore. ML Dyeing Limited led the top gainers' list, surging by 10%, while Progressive Life Insurance Company Limited ended as the biggest loser, dropping more than 6%. A similar upward trend continued at the CSE, where the CASPI index gained 157 points. Here too, most issues advanced: 140 companies registered price increases, 16 declined, and 14 remained unchanged. Stocks open higher at DSE, CSE The turnover, however, slightly decreased at the CSE, totaling Tk 11 crore, compared to Tk 14 crore in the previous session. At the CSE, Investment Corporation of Bangladesh (ICB) topped the gainers with a 10% rise, while Prime Insurance Company Limited was the worst performer, losing nearly 10%.