United News of Bangladesh

The National Board of Revenue (NBR) is set to amend the baggage rules as gold smuggling rises through organised syndicates exploiting loopholes in the regulations. Experts said that weak monitoring and lax enforcement at airports have allowed a steady inflow of smuggled gold, undermining the legal trade and financial stability. According to sources, smugglers take advantage of passenger-friendly baggage rules, which allow travelers to carry a limited quantity of gold legally. Gold worth nearly Tk 3 crore found in cattle shed Currently, inbound passengers can bring up to 100 grams of gold in bars or ornaments tax free. However, smugglers dodge this provision by using multiple carriers, or “mules,” who bring in small quantities to avoid detection. Some recent seizures highlight the growing scale of the problem. In January 2025, customs officials at Hazrat Shahjalal International Airport seized 15 kg of gold from some passengers arriving from Dubai and Singapore. Investigators found that syndicates recruit Bangladeshi expatriates and low-income travelers, offering them free tickets and financial incentives in exchange for smuggling gold. Authorities Respond “We have initiated changes to the baggage rules and are currently discussing the matter internally. Once finalised, we will open it for public consultation,” said NBR Chairman Md Abdur Rahman at a meeting with Bangladesh Jewellers’ Association (BAJUS) leaders recently. Customs officials acknowledge that existing baggage regulations are being exploited by criminal networks, making enforcement challenging. Bajus reduces gold price by Tk2,403 per bhori  “Since each passenger is legally allowed to bring gold within the permitted limit, smugglers use multiple carriers on different flights to move large quantities undetected,” said a senior customs official. Economic Impact and Industry Concerns Illegally imported gold enters the domestic market, bypassing official import channels. This illicit trade causes loss to the gold industry, affects legitimate businesses, and results in significant revenue losses for the government. BAJUS has repeatedly urged authorities to tighten regulations, warning that unchecked smuggling could destabilise the gold market.  “One passenger traveling abroad multiple times a month to bring gold cannot be allowed,” Abdur Rahman stated. “We will introduce stricter rules to bring discipline to this sector.” Businessman shot and robbed of gold jewellery in Banasree He also said that the jewelry sector’s revenue contribution remains below expectations.  “Gold smuggling impacts the overall financial management, law enforcement, and the economy,” he added. Proposed Reforms A senior NBR official said the government is considering reducing the duty-free gold allowance and imposing stricter penalties for violations. BAJUS Vice President Md. Reponul Hasan suggested limiting gold imports to once per passenger per year. “There are syndicates behind gold smuggling. Some members travel three to four times a month to exploit baggage rules,” he claimed. He emphasised that curbing gold smuggling would encourage small industries, citing the COVID-19 period when travel restrictions significantly reduced illicit imports. BAJUS has also called for a dedicated committee within the NBR to discuss policy changes in more detail. “We have heard that NBR has formed a committee, but they have not officially announced it yet. We are preparing our recommendations,” Hasan added. Experts said without regional cooperation and intelligence-sharing with transit hubs like Dubai and Malaysia, curbing gold smuggling will remain a challenge. Authorities must ensure better coordination between law enforcement agencies for effective enforcement. Gold Import Trends Despite existing opportunities, commercial gold imports remain low. According to Bangladesh Bank, only 119 kg of gold has been imported through formal channels since 2019, whereas significantly larger amounts have entered the country under baggage rules, despite higher taxes on gold imported this way. Bangladesh ranks 42nd in global gold imports. In 2019, Bangladesh Bank issued dealer licenses to 18 institutions, including a bank, to facilitate legal gold imports. Currently, 19 institutions hold such licenses, but their import volumes remain negligible. Since 2020, only seven dealers have imported 139.64 kg of gold bars, spending approximately $8.2 million. In 2022, gold imports fell to 24 kg from 93 kg in 2021. However, 12 licensed dealers did not import any gold. The disparity in taxation exacerbates the issue. Dealers pay Tk5,000 per bhori of gold in duty, whereas passengers under baggage rules pay only Tk2,000 per bhori. Gold Market Disruption NBR data reveals that in 2022, Bangladeshi inbound passengers brought in 54 tonnes of gold worth approximately Tk45,000 crore—Tk35,000 crore in gold bars and the remainder in ornaments. Airport records show that air passengers carried 5.5 tonnes of gold in 2020, 35 tonnes in 2021, and 54 tonnes (4.6 million bhoris) in 2022. In 2018, the government introduced the Gold Policy, later revised in 2021 as the “Gold Policy 2018 (Amended, 2021).” The policy allows registered gold dealers to obtain export certificates for gold ornaments, ensuring a legal channel for importation. Currently, 20 institutions serve as direct dealers of Bangladesh Bank, which has also approved procedures for setting up and operating gold refineries. Addressing Illegal Gold Trade The amended Gold Policy estimates the country's annual gold demand between 20 and 40 metric tons, with around 20,000 kg traded daily. This suggests an annual demand of 70-89 tonnes Only 30% of the demand  is met through old gold and formal import and the remaining demand is largely supplied through illegal means or smuggling, according to BAJUS. According to Volza.com, a  platform that provides global export-import trade data for over 209 countries, Bangladesh imports most of its gold bars from India, Ukraine, and the United Arab Emirates.  

The Bangladesh Jewelers Association (BAJUS) has raised the price of gold by Tk 1,154 per bhori for the local market with effect from Thursday. The decision was made by the BAJUS Standing Committee on Pricing and Price Monitoring during a meeting on Wednesday, according to a media release. Gold price reduced by Tk1,890 per bhori, remains over Tk 140,000 Earlier, on Monday, BAJUS had lowered the price of gold by Tk 1,890 per bhori, effective from Tuesday. Under the updated pricing, the cost of good quality 22-carat gold now stands at Tk 138,708 per bhori (1 bhori (11.664 grams). The revised rates for other categories are 21-carat solid gold: Tk 132,398 per bhori, 18-carat gold: Tk 113,490 per bhori, traditional gold: Tk 93,160 per bhori. While gold prices have increased, the price of silver remains unchanged. As per the current rates, the price of one bhori of silver by category is 22-carat: Tk 2,577, 21-carat: Tk 2,449, 18-carat: Tk 2,111, and traditional method: Tk 1,586.

An international exhibition of jewellery machinery will begin in Dhaka on Thursday (July 04, 2024) to promote technology integration in traditional jewellery-making to turn the country's gold industry into an export-oriented one. Bangladesh Jeweller's Association (BAJUS) in association with Indian partner KNC Services is organising the International Jewellery Machinery Expo Bangladesh (IJMEB), the first of its kind in the country, said a press release. The expo will be open for three days from 11am to 7pm at International Convention City Bashundhara (ICCB) with the theme 'Technology for excellence in jewellery'. Thirty companies from 10 countries, including India, Italy, Turkiye, the United Arab Emirates, Germany, China and Thailand, have confirmed their participation in the first edition of the expo. About the international expo, BAJUS President Sayem Sobhan Anvir said Bangladesh will have to focus on the jewellery industry, which has been neglected over the years, to march with developed countries. Read more: No more 24-carat gold under baggage rules "Jewellers need policy support to fetch new investment to transform Bangladesh into a prosperous 'Sonar Bangla'. To add value to technological innovation, the private sector should come forward along with public entities,” he added. BAJUS President expressed the hope that the IJMEB-2024 will enrich the Bangladeshi jewellery industry through sharing knowledge among the participating countries. "The expo will introduce modern machinery among the sector people. We aim to bring back the golden days of Bangladeshi jewellery ornaments. To realise the dream, we have to up-skill our goldsmiths with the changing technology in the jewellery sector around the world," he said. Sayem Sobhan Anvir said the jewellers have to march forward with technology to foster gold exports from Bangladesh. "The jewellery sector will grow if there are new factories. Our main objective is to create a new horizon in the export market by boosting the gold industry of Bangladesh. The integration of machines is important to tap the export potential," he said. Read more: BAJUS wants a 10-year tax holiday for gold refiners Indian KNC Services founder and chief executive officer Kranti Nagvekar said her company supported Bangladesh in hosting such an international expo after Saudi Arabia, the UAE and India. "When we roam around the world, we hear appraisal of ornaments made by Bangladeshi goldsmiths. When machines add value to the works of goldsmiths, Bangladesh will excel in global gold markets in style," she said. Among the participating companies, Tishya CNC Engineering Works, Neo Instruments, Solanki Mechanic Works, Ira Corporation, Quantum Equipment, ACZET Solutions and Pacio Traders registered from India. From Italy, two companies JTE and FASTI confirmed their participation. OTEC and GUVENIS from Turkiye while Chinese company DO IT Industries are representing their respective countries. Five companies from Bangladesh Dreamz Instrument Technology, RAJAISWARI, Expert Instrument Technology, Trust Instrument Bangladesh and RAT's BD are participating in the expo. Read more: Gold Buyer's Guide: Know the types, colors, karats of the precious metal

Dubai, known as the City of Gold, is strategically located at the crossroads of continents, making it a melting pot of diverse cultures. Known for its iconic skyline and extravagant lifestyle, Dubai is a paradise for avid shoppers seeking the finest goods on earth. Let's delve into the most renowned shopping destinations and uncover the treasures that make Dubai a shopper's dream. What to Buy from Dubai Gold and Diamond Jewellery Dive into Dubai's opulence as the "City of Gold" lives up to its name. You may explore the Gold Souk and esteemed jewellery stores for a dazzling array of exquisite gold, diamond, and platinum jewellery at tax-friendly prices. Do not miss the chance to bring home a beautifully designed and reasonably priced gold piece, a quintessential Dubai souvenir. Read more: These are the 10 countries with highest gold reserves

In an era marked by financial unpredictability, nations worldwide are increasingly anchoring their economic stability in gold reserves. Even after the gold standard was abandoned in the 1970s, gold's role in bolstering a country's economic health remains significant, according to NDTV. Woman arriving from Dubai arrested with over 8 kg gold at Dhaka airport Top 10 Countries by Gold Reserves 1. United States: Leading the pack, the US boasts 8,1336.46 tonnes of gold 2. Germany: Close on the heels with 3,352.65 tonnes 3. Italy: Securing third place with 2,451.84 tonnes. 4. France: Holding the fourth position with 2,436.88 tonnes. 5. Russia: Completing the top five with 2,332.74 tonnes, as reported by Forbes. Notably, China, an emerging economic powerhouse, ranks sixth with 2,191.53 tonnes, highlighting the shift in global economic dynamics. Switzerland, Japan, India, and the Netherlands round out the top 10, each maintaining significant reserves between 1,040 to 612.45 tonnes of gold. Gold worth Tk 7-cr seized at Airport; 4 held Why Do Countries Stockpile Gold? Gold's primary appeal lies in its ability to act as a dependable value store, ensuring economic stability during tumultuous times. Despite moving away from the gold standard, many countries view substantial gold reserves as crucial for currency stability. Diversification of assets is another compelling reason. Gold serves as a physical, tangible asset, offering a buffer against other asset value fluctuations. Its inverse relationship with the US dollar enhances its appeal, especially as a hedge in volatile markets. 4.5kg gold recovered from Biman flight at Ctg airport Gold also plays a vital role in international trade and finance. Some nations use it to balance trade deficits or as collateral for loans, thereby boosting their global economic standing. In crises, gold emerges as a safeguard against economic downturns and geopolitical tensions, protecting economies from inflation and currency devaluation. As central banks reaffirm the importance of gold, these gleaming assets continue to shape the economic futures of countries worldwide, the report concludes. Where was the CCTV camera? Investigators wonder about missing gold at Dhaka Airport customs

Members of Border Guard Bangladesh (BGB) on Tuesday arrested two individuals along with 23 gold bars, weighing 5.19 kg from Uthali in Jibannagar upazila of Chuadanga district. The arrestees were identified as Pintu Biswas, 50, and Sias Hossain of Damurhuda upazila. Two Bangladeshis shot dead by BSF over ‘entering’ Indian territory through Chuadanga border Tipped off, a team of BGB-58 conducted a drive in the area and challenged a human hauler carrying the arrested duo, said commanding officer of BGB-58 Masud Pervez Rana. Later, they arrested them along with the gold bars worth Tk 4.90 crore. Chuadanga-1 independent candidate alleges assault by opponents The gold bars were to be smuggled to India after dodging tax, he said. A case was filed with Jibannagar Police Station and seized gold bars were deposited to the Chuadanga treasury office. Local BNP leaders arrested in Chuadanga over sabotage

Robbers looted 80 tola of gold from three jewellery shops at Hemayetpur in Savar early today (November 22, 2023). Dipak Chandra Saha, officer-in-charge of Savar Model Police Station, said a group of masked robbers, with the help of three security guards, stormed three jewellery shops at Lalon Tower and Shopping Complex near Hemayetpur bus stand and looted 42 tola of gold from Sonakkhi Jewellers, 35 tola from Mamata Jewellers, and 3 tola from Gitanjali Jewellers. The incident came to light this morning after the market was opened. Gold, diamonds worth Tk 46 lakh looted from gold shop in Chandpur Police have visited the spot. In another incident, robbers also looted mobile phone sets worth Tk 20 lakh from seven mobile phone shops in Savar Bazar bus stand. 1 killed, 3 including gold trader injured as robbers loot shop in Laksmipur

If you are planning a trip to Malaysia, you are in for a treat. This vibrant country offers not only stunning natural beauty but also a unique shopping experience. Malaysia is renowned for its diverse shopping opportunities, from bustling street markets to high-end shopping malls. This article will explore the best souvenirs, home decoration items, and other special treasures to buy in Malaysia.  Best Souvenirs to Buy in Malaysia When you visit Malaysia, the desire to collect souvenirs that encapsulate the essence of this beautiful nation is nearly irresistible. Malaysia offers an array of choices for those seeking mementoes, each reflecting the rich culture and heritage of the country.  One such option is the exquisite Malaysian batik, a true work of art. These hand-dyed fabrics are adorned with intricate designs and a vivid spectrum of colours. This extends beyond clothing to include accessories and wall hangings available in the vibrant markets and boutiques across Malaysia. These intricate patterns and bold hues make batik an ideal keepsake. Read more: Romantic Beach Honeymoon Destinations in Asia Traditional Malaysian clothing is another fantastic choice. Women can opt for the elegant 'baju kurung' and 'baju kebaya'. Meanwhile, men have the option of the 'baju melayu,' a timeless symbol of style and cultural significance. These outfits pay homage to the rich heritage of Malaysia. Handmade crafts are the way to go for those who appreciate craftsmanship. Malaysian artisans’ skills are reflected in the exquisite wooden carvings, rattan baskets, and traditional pottery. These items are not merely souvenirs; they also serve as splendid choices for adorning your home. Their intricate details and cultural significance make them outstanding decorative pieces. Lastly, Malaysia's reputation as a haven for food enthusiasts makes it an excellent destination for culinary souvenirs. Among the popular choices is Durian Candy, offering a unique experience of the iconic but divisive durian fruit.  Another is Dodol, a beloved sweet treat throughout Southeast Asia, and White Coffee is a unique Malaysian brew known for its creamy, smooth taste. These souvenirs are more than mere items; they are fragments of Malaysian history and culture, destined to be cherished for years to come. Read more: Can You Travel Abroad Without Buying US Dollars? Home Decoration Things to Buy in Malaysia Malaysia presents a diverse selection of distinctive items when it comes to enhancing the aesthetics of your home. Malaysian pewter stands out as a prized choice. It offers intricately designed vases, candle holders, and figurines that exude elegance and charm, making them ideal additions to any home décor. Traditional Malaysian carpets, particularly those originating from Kelantan, are a splendid choice. These are perfect for those keen on incorporating a vibrant Malaysian flair. The carpets are renowned for their complex patterns and vivid hues. They serve as a perfect accent to infuse the living space with a touch of Malaysian culture. If you are on the lookout for furniture, you may choose Malay rattan pieces. Rattan chairs, tables, and storage units showcase exquisite craftsmanship and also reflect an eco-conscious choice.  Read more: How to comfortably travel with babies Other Special Things to Buy in Malaysia Beyond souvenirs and home decorations, Malaysia opens the door to a treasure trove of distinctive items that hold their own unique allure. Among them, fine jewellery commands attention. Gold and silver pieces are adorned with beautiful designs inspired by the rich tapestry of Malaysian culture.  For collectors and history enthusiasts, traditional Malay weapons such as the 'keris' and 'parang' offer an intriguing choice. These weapons bear a rich cultural legacy. It makes them fascinating collectables and also powerful symbols of Malaysia's history. Food enthusiasts can not overlook Malaysia's status as a culinary paradise with exotic spices and herbs. Lemongrass, turmeric, curry leaves, and more await to elevate your culinary adventures at home. Read more: E-Passport for Children in Bangladesh: Application process, necessary documents Whether you seek a meaningful gift, historical artefacts, or culinary inspiration, Malaysia's diverse offerings extend far beyond then expected. They are perfect to enrich both your home and your life.

Bangladesh Jewelers Association (BAJUS) on Saturday (September 30, 2023) announced it was reducing the price of gold again after an interval of just two days from the last price change. Earlier, Bajus had last set gold prices on September 27, which was effective from last Thursday. The new rate will be effective from tomorrow (Sunday, October 1). The price of good quality 22-carat gold has been reduced by Tk 1,750 to Tk98,211 per bhori (11.664 grams). Until Saturday 22 carat gold was Tk99960 per bhori. Read more: Gold price marks an all-time high to Tk 1,01,244 per bhori MA Hannan Azad, chairman of the Bajus Price Determination and Price Monitoring Standing Committee said this by a notification on Saturday (September 30). According to the notification, the price of acidic gold has decreased in the local market. Considering the overall situation, Bajus has fixed the new price of gold. The price of 21-carat solid gold is Tk93779 per bhori, 18-carat is Tk80365 per bhori and traditional gold price is Tk 66951. Read more: Gold Buyer's Guide: Know the types, colors, karats of the precious metal As of today, the price of 21-carat solid gold is Tk95412 per bhori, 18-carat gold is Tk81765 and traditional gold is sold at Tk68118. The price of gold has increased but the price of silver has been kept unchanged. According to the category, currently, a bhori of 22-carat silver price is Tk1715, 21-carat price is Tk1633, 18-carat price is Tk1400, and traditional method silver price is Tk1050. Read more: Gold vs Diamond: Which Should You Choose for Investment?

Gold and diamonds worth Tk 46 lakh were stolen from a gold shop on early Monday. Seven to eight youths, aged between 20 and 30, broke into the shop "Shorno Bhubon" between 5:30 am and 6 am on Monday and looted 40 tolas of gold and diamonds worth Tk 5 lakh. Read : Youth beaten dead on suspicion of theft in Kushtia Badal, one of the staff members of a nearby grocery shop, found the locks of the gold shop broken at 7 am and immediately informed Manik Lal Mazumder, owner of the gold shop, and his family about the incident. The shop is located next to Hasan Ali Government High School on the Cumilla Road of Chandpur district. The CCTV footage showed that it took only seven to eight  minutes for the robbers to steal the jewelries. Read : DB nabs motorcycle theft gang Sanjay Saha, an artisan at the gold shop,said he closed the shop and locked it in front of the shop owner at 10 pm the previous day, like he always does. Sheikh Mohsin Alam, officer-in-charge of Sadar Model Police Station, and his team came after he came to know about the theft. CID and PBI officials went to the shop  to investigate about the incident. The shop owner told UNB that he has been in business in this area for almost two years. He suffered a loss of Tk46 lakh in the theft. Read : 2 physicians, 2 others sued over newborn theft from hospital in Rajshahi  He said the thieves took no money. Their target was only gold and diamonds. The OC said an investigation is underway. The shop owner is yet to file a case.