United News of Bangladesh

The Bangladesh Securities and Exchange Commission (BSEC) on Tuesday approved proposals from five commercial banks to raise a combined Tk 3,500 crore through bond issues to strengthen their capital base. The decisions were taken at the commission's 1031st meeting, held at its office in Agargaon with BSEC Chairman Masud Khan in the chair. The commission approved a Tk 400 crore unsecured, non-convertible, fully redeemable, floating rate subordinated bond (Bond-VI) of One Bank PLC. The coupon rate will be the reference rate plus 3 percent. It will be issued through private placement to institutional and high-net-worth individual investors, with a face value of Tk 1 lakh per unit. Green Delta Capital Limited will act as trustee and UCB Investment Limited as issue manager. It also approved Southeast Bank PLC's Tk 800 crore, seven-year, fully redeemable, non-convertible, unsecured, floating rate subordinated bond (6th Issue), carrying a coupon of the reference rate plus 3 percent. Each unit will have a face value of Tk 5 lakh and will be placed privately with institutional and high-net-worth investors. DBH Finance PLC will serve as trustee and UCB Investment Limited as issue manager. BRAC Bank PLC received approval for a Tk 1,000 crore, three-year, unsecured, non-convertible, fully redeemable zero-coupon green bond, with a probable discount rate of 8.5 percent. Corporate entities, provident and gratuity funds, high-net-worth individuals and other eligible investors can subscribe through private placement, with each unit valued at Tk 10 lakh. The bank will use the proceeds for low-cost green financing to eligible clients. Prime Bank Investment PLC will be the trustee and IDLC Investments Limited the issue manager. The commission also approved Al-Arafah Islami Bank PLC's Tk 500 crore, seven-year, unsecured, non-convertible, redeemable, floating rate subordinated bond (AIBPLC 5th Subordinated Bond). The coupon will be the reference rate plus 3 percent, and each unit will be worth Tk 5 lakh. It will be issued to institutional and high-net-worth investors through private placement. DBH Finance PLC will be the trustee and UCB Investment Limited the issue manager. Bank Asia PLC's Tk 800 crore, seven-year, unsecured, non-convertible, fully redeemable, floating rate and sustainable subordinated bond was also cleared. The coupon rate will be the reference rate plus 3 percent, with each unit valued at Tk 10 lakh. It will be placed privately with institutional investors, high-net-worth individuals and other eligible investors. Besides bolstering the bank's Tier-II capital, the proceeds will finance and refinance eligible green and sustainable projects. DBH Finance PLC will be the trustee and Prime Bank Investment PLC the issue manager. The proceeds of One Bank, Southeast Bank, Al-Arafah Islami Bank and Bank Asia bonds will strengthen their Tier-II capital base under Basel III. The One Bank, Southeast Bank, BRAC Bank and Bank Asia bonds must be listed on the Main Board of the stock exchanges.

The Bangladesh Securities and Exchange Commission (BSEC) on Tuesday gave its no-objection to the reconstitution of Beximco Pharmaceuticals PLC's board with nine directors, as proposed by the company. The decision came at the commission's 1031st meeting, chaired by BSEC Chairman Masud Khan at the commission's Agargaon office. The commission took the decision on the company's application, after considering the High Court's oral direction, the opinion of its panel lawyer and the overall interests of investors. Under the proposed structure, three sponsor directors, ASF Rahman, Osman Kaiser Chowdhury and Iqbal Ahmed, will sit on the board. A managing director will be newly appointed, and one director will represent a local financial institution, IFIC Bank PLC. The board will also have four independent directors, three of them to be newly appointed, including one woman, in line with the Corporate Governance Code, 2018.

Bangladesh Jewellers Association (BAJUS) has reduced gold prices again, cutting the price of 22-carat gold by Tk 2,216 per bhori to Tk 228,556 including VAT. In a notice issued on Tuesday, BAJUS said the revised prices came into effect at 10:00am the same day. According to the notice, the price adjustment followed a decline in the price of pure gold in the local market. Under the new rates, 22-carat gold costs Tk 228,556 per bhori (11.664 grams), while 21-carat gold is priced at Tk 218,292, 18-carat gold at Tk 187,440 and traditional-method gold at Tk 153,148 per bhori, including VAT. BAJUS said the prices would remain effective at all jewellery shops until further notice. Making charges will vary depending on the design of the ornaments. As VAT is included in the selling prices of gold and silver jewellery, customers cannot be charged VAT separately. The association's existing rules on exchanging and purchasing ornaments, excluding applicable VAT, making charges and stone costs, will remain in force. Earlier, on September 28, BAJUS reduced the price of 22-carat gold by Tk 2,158 per bhori to Tk 230,772, including VAT. With the latest adjustment, gold prices have been revised 119 times in the domestic market so far this year, with 58 increases, 60 reductions and one VAT adjustment. Alongside gold, BAJUS has also reduced silver prices by Tk 175 per bhori, setting the price of 22-carat silver at Tk 4,316, including VAT. Under the revised rates, 21-carat silver costs Tk 4,141 per bhori, 18-carat silver Tk 3,558 and traditional-method silver Tk 2,683. Silver prices have been adjusted 73 times in the domestic market so far this year, with 36 increases and 37 reductions.

Bangladesh Bank (BB) has permitted passengers to purchase tickets for foreign airlines operating in the country directly using international credit and debit cards, providing an alternative to traditional banking channels and travel agencies. The central bank’s Foreign Exchange Policy Department (FEPD-1) issued a circular on Monday and dispatched it to all Authorized Dealer (AD) banks across the country. According to the circular, Bangladeshi citizens holding valid visas can use international cards to buy tickets for foreign airlines operating in Bangladesh. This facility will also apply to foreign airlines whose ticket sales are settled outside Bangladesh through international acquiring and payment settlement systems. As per Bangladesh Bank instructions, purchasing tickets via international cards under this provision will remain outside the consumer's fixed annual travel quota. However, issuing banks can verify the authenticity of ticket purchases to refill or adjust the spent limit on the customer's card. To identify such transactions, banks must follow the specific Merchant Category Code (MCC) assigned to the respective airlines. However, the central bank clarified that this facility will not apply to domestic Bangladeshi airlines if booked through foreign platforms operating outside Bangladesh. The circular further stated that foreign currency earned through ticket sales must be calculated and adjusted as remittable surplus under existing regulations when sending money to the airline's home country. Additionally, banks must regularly report these transaction details through Bangladesh Bank’s Transaction Monitoring (TM) module. The directive, signed by BB Director (FEPD-1) Dr. Md. Abu Bakkar Siddique, comes into effect immediately.

The Ministry of Commerce has initiated a process to verify the loan default status alongside the tax, VAT, and customs duty payment compliance of the executive committee members elected for the 2024-2026 term of the Real Estate and Housing Association of Bangladesh (REHAB). To facilitate the verification, the ministry requested the Senior Vice President of REHAB to submit the list of elected executive committee members along with copies of their Taxpayer Identification Numbers (TIN) and National Identity Cards (NID) within the next three working days. The directive was issued in a letter signed by Deputy Secretary Chowdhury Samia Yasmin of the Commerce Organisation-2 branch under the Ministry of Commerce on Sunday. According to the letter, the ministry will examine the credit default records as well as the updated status of tax, VAT, and duty payments for all elected executive committee members of REHAB for the specified term. The trade organisation has been asked to send the required documents within the stipulated time. Copies of the letter have also been forwarded for notification to the Private Secretary (PS) to the Commerce Minister, the PS to the Commerce Secretary, and the office of the Director General of Commerce Organisations.

Bangladesh Bank (BB) has expanded the scope of financial incentives for Bangla QR code-based transactions, bringing all trade-licensed merchant points under the incentive framework alongside small and marginal vendors to boost digital payments nationwide. The central bank issued Payment System Department (PSD-2 Circular Letter No. 07' on Sunday, replacing Paragraph 2 of its previous 'PSD-2 Circular No. 03' issued on August 10, 2026. According to the revised instruction, acquiring institutions will receive a monthly incentive of 0.10 percent and issuing institutions will receive 0.20 percent on each Bangla QR code-based transaction up to Tk 2,000 conducted through the National Payment Switch Bangladesh (NPSB) platform. The facility, which was previously restricted to small and marginal sellers and service providers on boarded via personal retail accounts, will now automatically extend to all other merchant points holding a trade license. The directive, signed by BB Director (PSD-2) Md. Sharafat Ullah Khan, was issued to the managing directors and chief executive officers of all scheduled banks, Mobile Financial Service (MFS) providers, Payment Service Providers (PSP), Payment System Operators (PSO), and international payment schemes operating in Bangladesh. The central bank confirmed that all other terms, conditions, and paragraphs specified in the August 10 circular remain unchanged.

The Bangladesh Jewellers Association (BAJUS) has cut gold prices in the domestic market after two consecutive increases, reducing the price of 22-carat gold by Tk 1,691 per bhori to Tk 232,930, including VAT. BAJUS announced the revised prices in a notice issued Saturday morning. The new rates came into effect at 10am the same day. According to the notice, the price of pure gold, locally known as tezabi gold, has declined in the local market. Considering the overall market situation, BAJUS revised the prices of gold, including VAT. Under the new rates, a bhori (11.664 grams) of 22-carat gold will cost Tk 232,930, while 21-carat gold will cost Tk 222,491 per bhori. The price of 18-carat gold has been set at Tk 191,056 per bhori, while traditional-method gold will cost Tk 156,064 per bhori. BAJUS said the revised prices will remain effective at all jewellery shops until further notice. Labour charges will apply separately depending on the design of the jewellery. As VAT is included in the selling prices of gold and silver jewellery, jewellers cannot collect VAT separately from customers. The previous BAJUS rules will remain applicable to jewellery exchange and purchase after excluding applicable VAT, labour charges and stone costs. BAJUS last adjusted gold prices on September 19, raising the price of 22-carat gold by Tk 1,691 per bhori to Tk 234,621, including VAT. So far this year, BAJUS has adjusted gold prices 117 times. Of these, prices were raised on 58 occasions, reduced on 58 occasions and adjusted once for VAT. Silver prices have also been reduced in the domestic market. The price of 22-carat silver has been cut by Tk 291 per bhori to Tk 4,841, including VAT. The new price of 21-carat silver is Tk 4,607 per bhori, while 18-carat silver will cost Tk 3,966 and traditional-method silver Tk 3,033 per bhori. BAJUS has adjusted silver prices 71 times so far this year, raising them on 36 occasions and reducing them on the remaining 35 occasions.

National Board of Revenue (NBR) has found Tk3.20 crore in VAT evasion by online shopping platform Korean Mart Bangladesh, following an inspection and examination of its business records. Officials of the Customs, Excise and VAT Commissionerate, Dhaka (West), conducted a preventive operation at the establishment on Sept 21 based on secret information, according to an NBR press release issued on Wednesday. The operation was conducted under the direction of the commissioner of the Dhaka (West) commissionerate and supervision of Pallabi Divisional Office. Korean Mart Bangladesh sells cosmetics and other products through online platforms. During the operation, officials examined information stored on the company’s laptops and computers, its courier service records, proprietary software and other documents. The examination indicated possible VAT evasion. The officials subsequently issued Mushak-12.3 and seized copies of data from the laptops, computers and other relevant documents by storing the information on a pen drive for further verification. After examining the seized records, the VAT authorities found irregular sales transactions worth Tk46.74 crore. The records showed that the company had failed to pay Tk3,19,57,490 in VAT against the sales, according to the NBR. The authorities are taking steps to file a case against the company over the alleged VAT evasion.

Bangladesh Bank Governor Md. Mostaqur Rahman on Tuesday called for greater Indian investment in Bangladesh’s technology-driven, export-oriented and manufacturing sectors. He made the call when Indian High Commissioner to Bangladesh Dinesh Trivedi paid a courtesy call on the Governor at the central bank's head office in the capital. During the meeting, both sides exchanged views on further strengthening bilateral economic, trade, and financial relations between Bangladesh and India. To improve the trade balance between the two neighboring nations, the Governor urged India to import more goods from Bangladesh. The Governor expressed interest in expanding the usage of 'Bangla QR', implementing cross-border digital payments, and seeking India's experience and potential technical cooperation in these areas. Underlining the importance of further easing foreign investment, the Governor said Bangladesh Bank has already undertaken several investor-friendly policy initiatives. These measures will allow foreign investors to easily repatriate their invested capital and profits to their home countries. Indian Deputy High Commissioner Pawan Kumar Badhe and Second Secretary (Economic and Commerce) Gourab Kumar Agarwal accompanied the Indian High Commissioner during the meeting. Deputy Governor Dr. Md. Habibur Rahman and Deputy Governor Md. Sarwar Hossain were present alongside the Governor on behalf of Bangladesh Bank.

Dhaka Stock Exchange (DSE) is set to begin disbursing Tk 37.60 crore in compensation to 17,332 aggrieved investors of five defaulted brokerage houses from its Investor Protection Fund. DSE Chairman Mominul Islam disclosed this at a press conference held at the DSE Tower in Dhaka's Nikunja on Tuesday. The disbursement will commence on September 28. The affected investors are clients of five brokerage firms: Mashiur Securities, Tamha Securities, Crest Securities, Shah Mohammad Sagir & Co. Ltd., and Banco Securities. According to DSE data, the total amount of misappropriated funds exceed Tk 250 crore. During the press conference, the DSE Chairman said each affected investor will receive a maximum of Tk 5 lakh against their verified claims. Mominul Islam mentioned, "It will take slightly over two months to complete the entire fund distribution process." Assuring market stakeholders, the DSE Chairman said that regulatory supervision and monitoring systems have been further strengthened to prevent any brokerage firm from defaulting in the future. He further informed that four cases regarding the misappropriation of investors' funds by these brokerage firms are currently under investigation by the Anti-Corruption Commission (ACC), while one case is pending in court.