United News of Bangladesh

Finance Minister Amir Khosru Mahmud Chowdhury on Sunday informed Parliament that the total amount of default loans in nine state-owned banks stood at Tk 188,701.75 crore as of May 31 this year. Replying to a question from reserved seat Jamaat-e-Islami MP Sabikun Nahar during the question-answer session, the minister said the figure was based on data submitted by the banks to the Credit Information Bureau (CIB) database of Bangladesh Bank. The minister said the nine state-owned banks are Agrani Bank, Janata Bank, Rupali Bank, Sonali Bank, BASIC Bank, Bangladesh Development Bank, Bangladesh Krishi Bank, Rajshahi Krishi Unnayan Bank and Probashi Kallyan Bank. He said reducing the high level of default loans is essential to restoring discipline in the country's banking sector. Responding to a question from Jamaat MP Golam Rasul, the finance minister said the government's total outstanding debt stood at Tk 2,206,462 crore as of December 31. Of the total, external debt amounted to Tk 959,311 crore, while domestic debt stood at Tk 1,247,151 crore. Answering another question from Jamaat MP Shahjahan Chowdhury, Amir Khosru said the government repaid foreign loans worth US$4.65 billion during the 2025-26 fiscal year. Of the total, US$3 billion was repaid as principal and US$1.65 billion as interest. In reply to a question from Jamaat MP Mahbubul Alam, the minister said Bangladesh Bank has taken several initiatives to provide easier access to loans for young entrepreneurs. He said the central bank has increased the refinancing fund for new entrepreneurs in the cottage, micro and small enterprise sector from Tk 100 crore to Tk 500 crore. Under the scheme, new entrepreneurs can obtain collateral-free loans of up to Tk 10 lakh at a maximum interest rate of 7 percent, while loans of up to Tk 35 lakh are available against collateral. Replying to a question from reserved seat MP Nilufar Chowdhury Moni, the minister said outstanding customs duties and taxes on imported goods collected by various customs houses under the National Board of Revenue over the past five years amounted to Tk 25,504.3 crore. He added that out of Tk 3,912 crore payable by Bangladesh Petroleum Corporation, Chattogram Custom House had recovered Tk 590 crore by June this year. Responding to a question from Dhaka-18 MP SM Jahangir Hossain, the finance minister said the government had decided to waive agricultural loans of up to Tk 10,000, including interest, for farmers across the country covering crops, livestock, fisheries and other agricultural activities. Under the programme, banks had received Tk 1,352.74 crore from the government by July 2 to settle dues for 1,434,482 farmers, he said. In reply to Nilphamari-4 MP Abdul Muntakim, the minister said Bangladesh Bank's regulations stipulate that a bank's fixed assets cannot exceed 30 percent of its paid-up capital. As Sonali Bank's fixed assets are already significantly higher than the prescribed limit, the bank is currently unable to purchase additional fixed assets or construct new buildings, he added. Answering a question from Cumilla-9 MP Abul Kalam, the finance minister said discussions between the Economic Relations Division and the World Bank are underway to prepare the financing pipeline for the 2026-27 fiscal year. He said budget support remains one of the World Bank's financing instruments for Bangladesh, and the government's requirement and target for such support in FY2026-27 will be determined following consultations with the relevant stakeholders. The government will decide the sectors in which any budget support funds will be utilised based on national priorities.

Finance Minister Amir Khosru Mahmud Chowdhury on Sunday told Parliament that investigations are underway against the former leadership of the Bangladesh Securities and Exchange Commission (BSEC) while the newly reconstituted commission has been formed through a transparent and professional selection process. The Minister made the remarks while responding to a supplementary question from Jamaat-e-Islami MP Md Quamrul Hassan, elected from Mymensingh-6. The MP alleged that during the Awami League government's tenure, politically biased and dishonest people were appointed to the BSEC and said there was allegation that some commission members had colluded in irregularities and manipulation in the stock market. He wanted to know whether the government would ensure that only competent and non-partisan individuals are appointed to the commission in the future and whether action would be taken against officials who served during the previous AL government. In reply, Amir Khosru said legal proceedings and investigations against the former BSEC chairman and others are already in progress. He told the House that the commission has been reconstituted with a chairman and three members, while the process of appointing another member is continuing."None of them has been appointed on political considerations." He added that the recruitment process was so transparent that even as Finance Minister he did not personally know the appointees beforehand. "They are all professionals with exposure to the stock market and international capital markets. We have no reason to question their integrity," he said. The Minister said the stock market has shown a sustained upward trend since the appointment of the new commission, gaining significant points over the past two months. He claimed the market had recorded stronger gains during this period than it had over the previous five years, attributing the improvement to restored transparency and renewed investor confidence. Amir Khosru also said the government has introduced, and will continue to introduce, major reforms in the capital market to strengthen its governance and credibility. He said fund managers from major financial centres including Hong Kong, New York and London have already begun visiting Bangladesh and expressing interest in participating in the country's capital market. The Minister expressed optimism that Bangladesh's capital market would develop into a globally recognised, transparent and trustworthy market, saying recent investor confidence and the upward movement in share prices indicate that the reform process is already producing results.

Finance and Planning Minister Amir Khosru Mahmud Chowdhury on Monday underscored the need for rapid digitalisation of Bangladesh’s financial services, saying innovation and technology are essential for improving service delivery, ensuring transparency and reducing costs. “Bangladesh must accelerate its digital transformation so that citizens can access public and financial services without visiting offices,” he said while addressing “Innovation Showcasing 2025-26” programme organised by the Financial Institutions Division at the Multipurpose Hall of the Finance Division. He said the government’s objective is to bring all sections of society, including businesses, professionals, farmers, workers and ordinary citizens, under digital services, making technology an inclusive platform for economic and social participation. “There is no alternative to technology and digitalisation if we want to move the country forward,” he said, adding that digital services would help improve transparency, cut costs and save people’s valuable time. The minister said the government has placed emphasis on digital skills and technology in the national budget to ensure that people from all professions can benefit from the digital economy. Referring to the government’s efforts to strengthen digital governance, he said a high-level team is currently visiting Estonia to study its globally recognised digital governance model. He said Bangladesh has already made progress in digital financial services but stressed that much more needs to be done, particularly in expanding public access and usage. The minister urged banks, insurance companies and other financial institutions to increase the adoption of online services by encouraging customers to use digital platforms instead of visiting branches. He suggested assigning dedicated staff at branches to guide customers in accessing digital services and explain how routine transactions can be completed from home. “If customers continue to visit offices for services that are already available online, we have failed to communicate the benefits of digitalisation,” he said. The minister also called for wider public awareness campaigns, including direct communication with customers, so they understand the convenience of digital financial services. He said expanding digital access would significantly reduce travel costs, traffic congestion and time spent obtaining services, while boosting national productivity. “Our goal is to ensure that people do not have to visit government offices, banks or insurance companies for services that can be delivered digitally,” he said. The minister also stressed the need for full implementation of digital initiatives across all financial institutions, including the capital market and insurance sector, saying innovation would deliver meaningful results only if digital services reached people effectively. Secretary of the Financial Institutions Division Nazma Mobarek presided over the event while Farida Yasmin, Joint Secretary and Chief Innovation Officer of the Financial Institutions Division gave the welcome address.Financial Institutions Division (FID) Secretary Nazma Mobarek said that the effective use of technology and small-scale innovations is making public services simpler, faster and more accessible while strengthening transparency and preventing corruption. She said digital innovations are also contributing to improved governance by ensuring transparency, increasing tax compliance and helping prevent corruption, including financial irregularities and money laundering. During the programme, five offices and agencies were honoured with awards in five categories in recognition of their outstanding innovative initiatives. Under the supervision of the Financial Institutions Division, a total of 329 public services have been digitalised by its 25 offices and agencies to date.

The government has formed 11 Joint Investigation Teams (JITs) led by the Anti-Corruption Commission (ACC) to probe priority money laundering cases as part of an intensified effort to trace, investigate and recover laundered funds, Finance Minister Amir Khosru Mahmud Chowdhury told Parliament on Wednesday. Responding to a starred question from Jamaat MP Masum Mustafa elected from Netrakona-5, the minister said illegally acquired money is usually laundered abroad through highly secretive and complex methods, making it extremely difficult to determine the exact amount transferred out of the country. The 11 teams also included officials from the Criminal Investigation Department (CID), the National Board of Revenue's Central Intelligence Cell and the Customs Intelligence and Investigation Directorate. As of May 2026, courts had ordered the attachment and freezing of movable and immovable assets worth approximately Tk 76,814 crore at home and abroad in connection with the 11 priority cases, he said. To implement court orders overseas, Bangladesh has sent 23 Mutual Legal Assistance Requests (MLARs) to relevant countries. The minister said 142 cases have so far been filed in connection with efforts to recover laundered assets. Charge sheets have been submitted in 17 cases, while verdicts have been delivered in six cases. To strengthen coordination among agencies involved in asset recovery, a Stolen Asset Recovery Division has been established under the Bangladesh Financial Intelligence Unit (BFIU), he said. The government is also considering establishing a specialised asset recovery agency, following the example of several other countries, to improve the efficiency of efforts to trace and repatriate illicitly transferred wealth. Amir Khosru said Bangladesh is receiving technical assistance, training and advisory support from a number of international organisations and foreign authorities, including the International Anti-Corruption Coordination Centre (IACCC), the World Bank and UNODC's Stolen Asset Recovery (StAR) Initiative, the International Centre for Asset Recovery (ICAR) and the US Department of Justice. Bangladesh has also become a member of the Global Operational Network of Anti-Corruption Law Enforcement Authorities (GlobE Network) and the Asset Recovery Interagency Network-Asia Pacific (ARIN-AP) to facilitate international cooperation and information exchange. The minister further said that, alongside criminal proceedings, the government has initiated civil recovery measures to bring back laundered funds. Under this approach, around 30 banks affected by defaulted loans allegedly transferred abroad have begun the process of appointing nine international law firms under "No Win, No Fee" arrangements after signing non-disclosure agreements. In the first phase, civil proceedings have been launched against six of the 11 priority cases involving Saifuzzaman Chowdhury, S Alam Group, Beximco Group, Sikder Group, Nassa Group and Orion Group. The finance minister said plans are in place to further expand these recovery efforts. He added that once the legal processes are completed and repatriated funds begin to return, the money will be allocated or spent in accordance with existing laws, relevant international agreements and government policies. He said according to information compiled by the White Paper Committee formed by the Interim Government, the estimated volume of illicit financial outflows from Bangladesh during the 2009–2023 period stood at approximately $234 billion, averaging $16 billion annually, or about Tk 1.8 lakh crore. The minister said the amount is equivalent to 3.4 per cent of Bangladesh's GDP in FY2023-24, around one-fifth of the country's export and remittance earnings, approximately 11.2 per cent of national savings, and nearly twice the volume of net foreign aid and foreign direct investment (FDI) inflows. To recover the siphoned-off funds and prevent similar incidents in the future, the government has formed a 12-member inter-agency task force headed by the Governor of Bangladesh Bank, he said. Based on the task force's recommendations, 11 priority cases have been identified under the Money Laundering Prevention Act, 2012. These involve former Land Minister Saifuzzaman Chowdhury, S Alam Group, Beximco Group, Sikder Group, Nassa Group, Orion Group, Bashundhara Group, former Prime Minister Sheikh Hasina and her family, Nabil Group, HBM Iqbal and Summit Group.

The Cabinet Committee on Government Purchase on Wednesday approved a proposal to extend the existing contract for the online collection of motor vehicle (MV) taxes and fees for the Bangladesh Road Transport Authority (BRTA). The recommendation came at a meeting of the committee held at the Secretariat with Finance Minister Amir Khosru Mahmud Chowdhury in the chair. According to official sources, the proposal was submitted by the Road Transport and Highways Division to facilitate the continuation and expansion of services related to the collection of MV taxes and fees through the online banking platform. The original contract value stood at Tk 218.71 crore. A variation amounting to Tk 21.43 crore has been proposed, raising the revised contract value to Tk 240.14 crore, which is 9.8 percent higher than the original contract amount. The recommended contractor is Computer Network Systems (CNS) Limited.

Finance Minister Amir Khosru Mahmud Chiwdhury on Monday directed officials to ensure that the Family Card programme is implemented in a transparent manner free from any political influence, so that benefits reach the intended recipients. The directive came during the fourth meeting of the Cabinet Committee on Family Card Distribution held at the conference room of the Ministry of Finance. The meeting reviewed and approved the administrative expenditure required for implementing the Family Card programme and finalised the revised 2026 guidelines for piloting the initiative. The committee also reviewed and gave policy approval to the draft Family Card Implementation Policy, 2026, which is expected to provide a structured framework for identifying eligible beneficiaries and distributing support under the programme. Officials said the policy and guidelines are aimed at ensuring transparency, accountability and efficiency in the implementation process while preventing irregularities and political interference in beneficiary selection. The Family Card programme is being introduced as part of the government’s broader social protection efforts to support low-income and vulnerable households across the country. Speaking at the meeting, the Finance Minister stressed the importance of establishing a fair and credible beneficiary selection process so that the programme serves those who are genuinely in need. Among others, Social Welfare Minister Prof Dr A.Z.M. Zahid Hossain, State Minister for Social Welfare Farzana Sharmin, and State Minister for Local Government, Rural Development and Cooperatives Mir Shahe Alam attended the meeting.

Finance Minister Amir Khosru Mahmud Chowdhury has said the government expects inflationary pressures to ease gradually through structural reforms aimed at reducing the cost of doing business, improving efficiency and strengthening supply chains. “Inflation in Bangladesh is not a short-term phenomenon but the result of several years of accumulated pressures, compounded by global conflicts, rising import costs and weaknesses in the banking sector,” he said today (Friday), while addressing a post-budget press conference at the Osmani Memorial Auditorium. The finance minister, who presented his first budget yesterday, noted that inflation has remained above 9 percent for the past three years. External factors, including conflicts in the Middle East, have pushed up global commodity prices, while capital shortages in banks caused by loan defaults, fraud and money laundering have increased the cost of funds. He said that imported goods had become more expensive due to global developments and that Bangladesh had limited control over such external inflationary pressures. However, the government could reduce domestic inflation by lowering business costs through deregulation, administrative reforms and improved efficiency, he said. According to Amir Khosru, businesses in Bangladesh face excessive costs due to lengthy approval processes, bureaucratic delays, high borrowing costs, inefficiencies at ports and weaknesses in taxation and regulatory systems. “Inflation cannot be controlled by deploying police, regulatory agencies or government officials in markets. It has to be managed through sound policies and efficient administration,” he said. The newly elected BNP government's first budget set an inflation target of 7.5% for the next fiscal, against a GDP growth expectation of 6.5%. Khosru said the government would focus on improving ease of doing business, reducing unnecessary regulations and ensuring greater transparency across public institutions. He added that reforms in ports, logistics and procurement systems would also help lower costs. The finance minister stressed the need for long-term procurement planning, saying Bangladesh should maintain strategic reserves of fuel, food and fertiliser to reduce vulnerability to global market shocks. Referring to energy imports, he criticised past reliance on spot purchases and said the government intended to pursue longer-term procurement arrangements to secure better prices and ensure energy security. On the government’s decision to increase salaries for public servants, Khosru said the move was necessary to address rising living costs after years without significant adjustments. “When people face financial hardship, the tendency towards corruption increases. Improved salaries should help reduce that pressure while ensuring a better standard of living for government employees,” he said. The finance minister also highlighted employment generation as a central objective of the budget, saying investments in education, skills development and private-sector growth would help create jobs both at home and abroad. He said the government had placed particular emphasis on vocational education, reskilling and upskilling programmes to improve employability, especially among young people and educated jobseekers. “Investment means employment. Our focus is on creating demand for jobs through increased investment and improved skills,” he said. Khosru said the budget represented a shift from traditional approaches and reflected changing global economic realities. He reiterated the government’s commitment to reducing dependence on domestic bank borrowing, which he said often crowded out private-sector lending. He noted that planned borrowing from local banks had already been reduced compared with the previous fiscal year and that the government would continue this trend in the coming years. The minister also defended the budget’s emphasis on social protection programmes, saying the largest investments were being made in initiatives designed to support low-income and vulnerable groups. Programmes such as the Family Card, support for farmers, universal healthcare and preventive healthcare services were aimed at improving living standards while preparing beneficiaries for better employment opportunities, he said. Khosru placed special emphasis on the government’s proposed “creative economy” initiative, which seeks to integrate artisans, cultural workers, performers and rural entrepreneurs into the mainstream economy. He said the programme would provide financing, training, design support and market access to traditional craftsmen, weavers, potters, musicians and other creative workers whose contributions had long remained outside formal economic planning. The minister said the government had allocated Tk 800 crore to launch creative economy initiatives, including creative centres, cultural districts, tourism-linked projects and heritage restoration programmes. “Our objective is to monetise culture and creativity so that artists, craftsmen and performers can improve their livelihoods while contributing to economic growth,” he said. Khosru also said the government was reviewing outdated mouza land valuation rates, which are often significantly below market prices, to curb opportunities for whitening undisclosed income through property transactions. A committee has been formed to revise mouza rates and bring them closer to actual market values, although he acknowledged that the exercise would require a nationwide survey and could not be completed before the budget. Responding to concerns about implementation, the finance minister said the government would establish a high-powered task force and an online complaint platform to monitor reform measures and ensure accountability. “No one will be exempt from scrutiny if delays or violations occur. We are committed to implementation,” he said. Earlier, in his opening remarks, Khosru described the budget as an “inclusive” one prepared under exceptional circumstances within less than two months of the new government’s formation. He said the budget sought to move away from what he described as a patronage-based economic model and instead promote “economic democratisation” by extending opportunities to all sections of society. The minister said the government inherited an economy weakened by institutional erosion, financial mismanagement and global economic uncertainty, making budget preparation particularly challenging. He added that future public spending and development projects would be evaluated on four key criteria: value for money, return on investment, job creation and environmental sustainability. “The budget is for all Bangladeshis. No group, profession or community has been left outside its scope,” he said.

Finance Minister Amir Khosru Mahmud Chowdhury on Thursday said the government is implementing a wide range of projects on irrigation, flood management, riverbank protection, waterlogging mitigation, drainage improvement and salinity control as part of its sustainable water resources management strategy. He said special initiatives have been taken to restore at least one river in each division by removing illegal encroachments to maintain ecological balance. Under seven ongoing projects, measures are being implemented to clear encroachments and restore the natural flow of several rivers including Dhaleshwari, Louhajang, Alaikuri, Mogra, Salta, Sutang, Bakkhali and Barnai, the Minister said while placing budget in Parliament. The minister said a Water Quality Index (WQI) has been developed for rivers surrounding Dhaka, while an AI and deep learning-based real-time dashboard has been introduced to monitor groundwater levels, aiming to strengthen data-driven water governance. He further informed the House that the Ministry of Water Resources is implementing a nationwide programme titled “Excavation and Re-excavation of Rivers, Canals and Water Reservoirs,” under which 20,000 kilometres of canals, rivers and drainage channels are planned to be excavated over the next five years by relevant ministries. In FY 2026–27 alone, the ministry plans to excavate and re-excavate 680 kilometres of canals, irrigation canals and drainage channels. A GIS-based national canal database will also be developed under a separate project to identify and classify canals across the country. For flood protection, the government has set a target to construct, reconstruct and rehabilitate embankments and flood walls and improve river navigability over a total of 309 kilometres, while 484 kilometres of submerged shoals will be removed. Additionally, 292 kilometres of embankment and flood wall works are currently underway under a 180-day flood protection programme. He also highlighted impacts of upstream dams on the Teesta and Padma rivers, saying reduced water flow has affected agriculture, irrigation, fisheries and biodiversity in Bangladesh’s river basins. In this context, the “Padma Barrage (Phase-I)” project has been approved by the Executive Committee of the National Economic Council (ECNEC). The project, to be implemented from July 2026 to June 2033, includes construction of a 2.1-kilometre main barrage and a hydropower plant at Pangsha in Rajbari. Once completed, the project is expected to enable storage of 2,900 million cubic metres of water, prevent salinity intrusion in the Padma basin including the Sundarbans, support irrigation for 2.88 million hectares of land, and significantly boost agricultural and fish production. The government is also moving ahead with the “Comprehensive Management and Restoration of the Teesta River Project,” commonly known as the Teesta Master Plan, aimed at improving livelihoods in northern Bangladesh.

Finance Minister Amir Khosru Mahmud Chowdhury on Thursday said prolonged instability in the Middle East may adversely affect employment opportunities abroad, income flows, and the continuity of remittance inflows. If this trend persists, the Finance Minister said it may emerge as a matter of serious concern for the external sector and labour market stability. He said although remittance receipts have not yet shown any negative impact, early signs of pressure are being observed in manpower deployment. For instance, he said, while around 95,000 workers departed for overseas employment in January 2026, this number declined to around 44,000 in March. Unveiling the national budget for the fiscal year 2026-27 in Parliament, the Finance Minister said the Middle East remains the most significant destination for Bangladesh’s migrant workforce. He said the reality of today’s global economy is that uncertainty is no longer an exception; rather, it has become a permanent feature of economic management, a ‘Neo-Normal’. War, volatility in energy markets, fluctuations in global interest rates, changes in trade policies, and disruptions in supply chains - any one of these can quickly place significant pressure on an import-dependent economy such as ours, he said. In this context, the Finance Minister said their objective is to manage the economy in such a way that minimizes the impact of external shocks on domestic macroeconomic stability, ensuring resilience and continuity in growth and development.

Finance Minister Amir Khosru Mahmud Chowdhury on Thursday announced that a new pay scale for government employees will be implemented in phases starting from July 1, citing the rising cost of living and inflationary pressures. He made the announcement while presenting the proposed national budget for the 2026-27 fiscal year in Parliament. The minister said government employees have been receiving salaries and allowances under the same pay structure for nearly eleven years. “During this period, the cost of living has increased significantly due to inflationary pressures. In recognition of this reality, the government is announcing the phased implementation of a new pay structure for public employees beginning on 1 July 2026.: He said merit, integrity, competence, experience, and professional qualifications will serve as the principal criteria for all appointments, transfers, and promotions across the public service in the government’s pursuit of building a “Meritocratic Bangladesh.” Khosru expressed firm belief that the ongoing reforms will extend far beyond the simplification of administrative procedures. “They will contribute to improving the overall business environment, attracting greater domestic and foreign investment, creating new momentum for enterprises of all sizes, strengthening the foundations of production and exports, and expanding employment opportunities across the economy.” An amount of Tk 89,380 crore has been earmarked for salaries and allowances of government officials and employees in the next fiscal year. The allocation is Tk 4,641 crore, or 5.47 percent, higher than the revised allocation of Tk 84,739 crore in the outgoing fiscal year. According to budget documents, the original allocation for government salaries and allowances in FY26 was Tk 84,114 crore, which was later revised upward to Tk 84,739 crore. The proposed allocation also marks a significant increase from the actual expenditure of Tk 69,423 crore recorded in FY25, indicating a rise of nearly Tk 20,000 crore in annual spending on government pay and benefits over two years. Of the total allocation, Tk 13,874 crore has been earmarked for officers’ salaries, up from Tk 12,927 crore in the revised budget for FY26, reflecting an increase of Tk 947 crore. For salaries of employees, Tk 30,671 crore has been allocated, compared to Tk 29,170 crore in the revised budget, registering an increase of Tk 1,501 crore. The largest share of the allocation will go to allowances, which have been proposed at Tk 44,835 crore, up from Tk 42,642 crore in the revised budget. The increase in this category alone amounts to Tk 2,193 crore. According to the experts, annual increases in salary and allowance allocations have become necessary due to rising living costs, inflation and the continued recruitment of personnel in public service. An analysis of the proposed budget shows that the government's total recurrent expenditure has been estimated at Tk 5.51 crore for FY27, with around 16.2 percent of the amount set aside for salaries and allowances of government employees.