United News of Bangladesh

Bangladeshi expatriates sent home US$2.455 billion in remittances during the first 26 days of August, according to the latest data released by Bangladesh Bank. Between August 1 and August 26, total remittance inflows registered a 22.3 percent monthly growth compared to $2.007 billion received during the corresponding period of the previous year. During the two-day period of August 25 and 26, the country received $115 million in remittances. Cumulative remittance inflows from July 1 to August 26 in the current fiscal year 2026-27 reached $5.314 billion, reflecting an 18.5 percent yearly growth over the $4.485 billion recorded during the same timeframe in FY26. Central bank figures indicate a sustained upward momentum in official remittance channels, driven by strong inflows through formal banking networks.  

Bangladesh Bank has reviewed the progress of loan recovery, reconstruction, and overall operations of Sommilito Islami Bank PLC.  Prioritizing the recovery of non-performing loans to protect depositors' interests, the bank has already filed nearly 10,000 lawsuits, with the process underway to file additional cases. Governor Mostaqur Rahman chaired a review meeting with the Bank Resolution Department (BRD), held at the central bank headquarters on Thursday. The meeting reviewed the bank's merger and reconstruction process, board and management restructuring, human resource integration, branch rationalization, and IT system integration, all being implemented under the central bank's direct supervision and monitoring. To protect depositors' interests and recover non-performing loans, Sommilito Islami Bank has filed nearly 10,000 lawsuits, with additional cases currently in process. Alongside formal legal action, the bank has adopted compromise-based settlement mechanisms, including an Exit Policy and Alternative Dispute Resolution (ADR). Additionally, a forensic audit is in its final stage to identify individuals responsible for past irregularities, corruption, loan fraud, and asset misuse under the bank's previous ownership and management. Key measures executed and monitored over the past six months include: i) The board of directors was reconstituted with a majority of independent directors, and a Chief Executive Officer (CEO) was appointed on July 16, 2026. ii) Organizational structures, roles, and designations for approximately 16,000 officers and employees have been aligned. Integration of IT infrastructure—including Core Banking System (CBS), SWIFT, and RMA—is underway to merge operations across five banks. A common interface will soon be introduced to enable depositors to withdraw funds from any branch of the five constituent banks. iii) Rationalization and operational integration are ongoing for 780 branches and 1,500 business units based on location, business potential, customer service, and operating costs. Launched as the country's largest state-owned Shariah-compliant bank with a capital base of Tk 35,000 crore, Bangladesh Bank reaffirmed that ensuring transparency, accountability, and good governance in Sommilito Islami Bank's asset and deposit management remains a top priority. The central bank expects these consolidated measures to enhance governance, operational efficiency, and financial capacity while reducing administrative costs and redirecting recovered funds back into productive economic sectors.

Customs intelligence officials have uncovered an attempt to import four luxury cars into Bangladesh by declaring their major components separately as ‘used car parts’ and cutting the vehicles into three to four large sections for shipment. The four vehicles, identified as a Range Rover Vogue, BMW 650i, Lexus LX570 and Toyota Crown Athlete, have an estimated combined market value of around Tk 4.50 crore to Tk 6.70 crore or more, according to the Customs Intelligence and Investigation Directorate (CIID) findings. CIID seizes contraband worth Tk 1.8cr in three separate drives at HSJIA The shipment was imported by Crown Auto Mobile Services of Gandaria in Dhaka from Mahi Car Port of Ashikaga, Tochigi, Japan. The consignment contained 164 packages under 14 declared items, with a total declared weight of around 10,220 kg. The importer declared items including used doors, a 2,000cc petrol engine fitted with gear assembly, suspension shock absorbers, nose cuts, headlights, tail lights, fenders, cabin, steering wheel, bumpers, air cleaner boxes, rubber channels, differential and axle assemblies. Acting on a confidential tip-off, CIID’s regional office in Khulna and its Mongla circle suspended the clearance process and conducted a 100 percent physical examination of the consignment on July 19. With technical assistance from experts from the Bangladesh Road Transport Authority (BRTA) and Khulna University of Engineering & Technology (KUET), investigators examined stickers, labels, markings and identification numbers attached to or engraved on different parts of the vehicles. Artificial intelligence was also used to help identify the vehicles. The examination found front cuts, complete rear or tail cuts, front and rear body cuts and roof-cut panel assemblies, with wiring harnesses, sensors and other important components still attached. The entire consignment had an invoice value of only US$7,935. At the declared exchange rate of Tk 122.7433 per US dollar, along with other expenses of Tk 19,577.56, the assessable value was shown at around Tk 9.94 lakh. The declared customs duties and taxes amounted to Tk 6.07 lakh, while the total payable amount, including DF, CVAT and FP, was shown as Tk 6.10 lakh. CIID said the exact amount of potential revenue evasion has not yet been determined. The amount would depend on the assessment of the vehicles as SKD motor vehicles rather than separate used parts, taking into account their actual value, engine capacity, age, depreciation and applicable tariff values and taxes. CIID said it would continue intelligence-led operations against false declarations, concealment of the actual nature of imported goods, customs duty evasion and attempts to import motor vehicles in SKD or CKD form under the guise of spare parts.

The Chattogram Customs House has taken an initiative to destroy 126 containers containing 3,268 metric tonnes of unauctionable, substandard and expired goods that have been lying at Chattogram Port for a long time. The goods include 34 containers of substandard dates, 40 containers of expired soda ash and 18 containers of expired feed-grade limestone, besides other perishable and damaged products such as oranges, onions and cashew nuts, according to a press release issued by the National Board of Revenue (NBR) on Tuesday. The destruction began at 10am on Monday at a designated site behind the Chattogram Port Republic Club and is continuing uninterrupted, the release said. Members of Fire Service and Civil Defence, Border Guard Bangladesh (BGB), Ansar and the local port police are present at the site to ensure security and provide necessary assistance during the disposal process.

Bangladesh received US$ 2.340 billion in remittances during the first 24 days of August, according to the latest data released by Bangladesh Bank. Between August 1 and August 24 of the current fiscal year 2026-27, total remittance inflows registered a 25.7 percent growth compared to $1.861 billion received during the corresponding period of the FY26. On August 24 alone, the country received $81 million in foreign remittances. Cumulative remittance inflows from July 1 to August 24 in FY27 reached $5.198 billion, reflecting a 19.8 percent yearly growth over the $4.339 billion recorded during the same timeframe in FY26. Central bank figures indicate a sustained upward momentum in official remittance channels, driven by consistent inflows through formal banking channels.

The Bangladesh Securities and Exchange Commission (BSEC) has approved a proposal by Meghna Bank PLC to issue a Tk 400 crore non-convertible, unsecured, fully redeemable, floating rate subordinated bond. The approval was granted on Tuesday during the 1026th commission meeting presided over by BSEC Chairman Masud Khan at the BSEC headquarters in Dhaka. BSEC proposes major amendments to margin loan rules  The tenure of the bond will be seven years, carrying a coupon rate based on the reference rate plus a 3 percent margin. The face value per unit of the bond has been set at Tk 5,00,000. Meghna Bank will issue the bond through private placement to corporate institutions, high-net-worth individuals, banks and financial institutions, provident and gratuity funds, and insurance companies. The proceeds from the bond issuance will be utilised by Meghna Bank PLC to strengthen its Tier-II Capital Base under the Basel III framework. DBH Finance PLC will act as the trustee for the bond, while BRAC EPL Investments Limited will serve as the issue manager.

US-Bangla Airlines has announced the resumption of its flight operations on the Dhaka-Jashore route from September 9, in response to the long-standing demand of the people of greater Jashore. As part of its commitment to strengthening domestic air connectivity and providing passengers with convenient, safe and time-efficient travel options, the airline will operate two round-trip flights per day, three days a week – Saturday, Wednesday and Thursday. It will operate the route with its 72-seat ATR 72-600 aircraft, according to a press release issued on Tuesday. According to the new schedule, the morning flight will depart from Dhaka at 9:30am and arrive in Jashore at 10:15am. The return flight will depart from Jashore at 10:45am and arrive at Hazrat Shahjalal International Airport in Dhaka at 11:30am. The second flight of the day will depart from Dhaka at 4:45pm and arrive in Jashore at 5:30pm. The return flight will depart from Jashore at 6:00pm and arrive in Dhaka at 6:45pm.

Bangladesh Bank Governor Md. Mostaqur Rahman on Tuesday directed the management of Sammilito Islami Bank PLC, formed out of the merger of five previously troubled Islamic banks, to allow individual depositors to withdraw funds as needed starting September 1, 2026. The direction came during a meeting between the central bank governor and Sammilito Islami Bank Chairman Kazi Sharul Hassan and Managing Director Abedur Rahman Sikdar at the central bank headquarters on Tuesday. Bangladesh Bank Deputy Governors Dr. Md. Habibur Rahman, Dr. Md. Kabir Ahammad, Md. Saroar Hossain, and Md. Anisur Rahman was also present at the meeting. During the meeting, the governor issued three key instructions to the bank's top management: No Haircut on Profits: The bank management must explicitly inform all depositors that there will be no "haircut" on their profits. The central bank emphasized providing this clarity, noting that some confusion persists among depositors despite the Finance Minister's announcement in the National Parliament confirming that no profit haircut would be imposed. Enhanced Withdrawal Access: While fund returns are currently being executed under the scheme announced on December 29, 2025, the bank must take necessary measures from Tuesday, September 1, 2026, to allow individual depositors to withdraw principal amounts from their Al-Wadeeah Current Accounts, Mudaraba Savings Accounts, and Mudaraba Term Deposits based on their needs, exceeding the guidelines provided in the earlier scheme. Resumption of Normal Operations: As the country's largest and only state-owned Islamic bank—launched with a capital of Tk 35,000 crore—Sammilito Islami Bank PLC must take immediate steps to resume full normal banking operations at the earliest possible time.

Asian stock markets were mixed Tuesday, while oil prices remained largely steady as investors watched for major economic developments later this week. Regional markets moved within a narrow range, while US stock futures were little changed. Oil prices were also broadly stable after US Treasury Secretary Scott Bessent announced new sanctions against Iran and warned that countries continuing to do business with Tehran could face penalties. Japan's Nikkei 225 rose 0.4% to 65,811.19, while South Korea's Kospi fell 0.4% to 6,675.88. Hong Kong's Hang Seng dropped 0.3% to 25,453.19 and the Shanghai Composite edged down 0.1% to 3,878.38. Australia's S&P/ASX 200 gained 0.6% to 9,158.70. Taiwan's Taiex slipped less than 0.1%, while India's Sensex declined 0.3%. Wall Street mixed US stocks ended mixed Monday as some pressure in the bond market eased. The S&P 500 fell 0.3%, moving further away from the record high it reached earlier this month. The Dow Jones Industrial Average gained 0.3%, while the Nasdaq composite lost 0.8%. Technology stocks led the decline as investors remained concerned that the sharp rise in AI-related shares may have pushed valuations too high. There are also concerns that demand for AI chips could weaken if the technology fails to generate enough profits. Nvidia, one of the biggest winners of the AI boom, will release its quarterly earnings report Wednesday. The results could influence the next major move in AI-related stocks. Nvidia shares fell 2.9% Monday, making the chipmaker the biggest drag on the S&P 500. Micron Technology dropped 5.8% and Broadcom declined 2.6%. Bond market in focus The yield on the 10-year US Treasury note fell to 4.71% from 4.74% late Friday. The decline came after the US Treasury Department announced plans to increase the size of its Treasury buybacks, a move that helped ease some pressure on longer-term borrowing costs. However, analysts said the buybacks are relatively small and are unlikely to solve broader concerns over high US government debt and elevated oil prices. Higher Treasury yields can increase borrowing costs across the economy, including mortgage rates, putting additional pressure on the housing market. “The latest discussion about using Treasury General Account cash to help finance purchases of longer-dated bonds gave the market something to chew on Monday,” said Stephen Innes of SPI Asset Management. “But there is a difference between forcing the bond market to blink for an afternoon and solving the underlying problem,” he said. Fed chief's speech awaited Federal Reserve Chairman Kevin Warsh is scheduled to speak Friday at the annual economic symposium in Jackson Hole, Wyoming. Investors will closely watch his comments for clues about inflation and the Federal Reserve's approach to monetary policy. Oil prices remain a major concern for markets because higher energy costs can push inflation higher. Brent crude, the international benchmark, has remained above the $72-a-barrel level recorded before the war with Iran began in late February. Early Tuesday, Brent crude was almost unchanged at $90.51 a barrel, while US benchmark crude rose less than 0.1% to $85.10 a barrel. Brent prices moved between $72 and $102 a barrel last month as hopes of a US-Iran deal rose and fell. Such an agreement could allow oil tankers to move freely out of the Persian Gulf. The latest US sanctions announced Monday also pushed Iran's currency, the rial, to a record low against the US dollar.

Bangladesh Jewellers Association (Bajus) has again raised the price of gold in the domestic market, hiking the rate by Tk 1,633 per bhori for 22-carat gold. With the increase, the new price of 22-carat gold, including VAT, has been set at Tk 2,47,743 per bhori (11.664 grams), effective from 10am on Tuesday. In a notice issued on Tuesday morning, Bajus said the price of pure gold (tejabi) has increased in the local market, prompting the revision. According to the new rate, 21-carat gold will now cost Tk 2,36,604 per bhori, 18-carat gold Tk 2,03,187 per bhori, and traditional gold (Sanatan) Tk 1,65,920 per bhori, all including VAT. Bajus said the new prices will remain effective at all jewellery shops until further notice, though making charges will apply depending on jewellery design. Since VAT is already included in the selling price of gold and silver ornaments, customers cannot be charged VAT separately. The organisation added that its existing rules on making charges, wastage and stone deductions will remain unchanged for ornament exchange and purchase. Bajus last adjusted gold prices on the morning of August 22, when the rate of 22-carat gold was increased by Tk 5,482 per bhori to Tk 2,46,110, including VAT. At that time, 21-carat gold was priced at Tk 2,35,030 per bhori, 18-carat gold at Tk 2,01,846, and traditional gold at Tk 1,64,812 per bhori. So far in 2026, gold prices have been adjusted 107 times in the domestic market, with 55 hikes, 51 cuts, and one VAT adjustment. Meanwhile, silver prices remained unchanged. Currently, 22-carat silver is being sold at Tk 5,482 per bhori, 21-carat at Tk 5,249, 18-carat at Tk 4,491, and traditional silver at Tk 3,383 per bhori. Silver prices have been adjusted 64 times so far in 2026, with 34 hikes and 30 cuts.