United News of Bangladesh

Leaders of Bangladesh's premier business organizations and trade bodies have expressed profound grief and shock following the demise of former Prime Minister and BNP Chairperson Begum Khaleda Zia. In separate tributes, the country’s top industrial representatives hailed her as a monumental figure in Bangladesh’s economic and democratic evolution. FBCCI: A Grateful Nation Remembers The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), the nation's apex trade body, issued a heartfelt condolence message. FBCCI Administrator Md. Abdur Rahim Khan stated that the nation would forever remember her tireless struggle and immense contributions toward establishing democracy and safeguarding the rights of the people. He noted that her leadership provided a stable foundation for the country's commercial growth. BGMEA & BKMEA: Icon of Economic Liberation The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) president Mahmud Hasan Khan, stated that her role in the nation’s overall development and the economic liberation of the common people is "written in golden letters" in the history of Bangladesh. Similarly, BKMEA President Mohammad Hatem described her as an icon of the democratic struggle, noting that her contributions to the country's industrial infrastructure were "indescribable." DCCI & BTMA: A Loss for the Global Muslim Community The Dhaka Chamber of Commerce and Industry (DCCI), led by President Ashraf Ahmed, and the Bangladesh Textile Mills Association (BTMA), under President Showkat Aziz Russell, highlighted her historic milestone as the first elected female Prime Minister of Bangladesh and the second in the Muslim world. They emphasized her lifelong commitment to establishing the socio-economic rights that modern businesses now rely upon. DSE & BASIS: Symbols of Integrity and Courage The Dhaka Stock Exchange (DSE) leadership, including Chairman Mominul Islam and Managing Director (MD) Nuzhat Anwar, praised her "unwavering commitment to honesty and public welfare," particularly her role in strengthening the national economic framework. BASIS Administrator Abul Khair Mohammed Hafizullah Khan added that the nation has lost a "brave guardian" and a "shining star" who never compromised on the dignity of the people. BAJUS: The End of an Era Enamul Haque Khan, President of the Bangladesh Jewellers’ Association (BAJUS), described her passing as the "end of an era." He remarked that she was not merely a political leader but a significant chapter of Bangladesh’s history whose loss has created a void that can never be filled. Across the board, these organizations extended their deepest sympathies to the bereaved family and the people of Bangladesh, praying for the eternal peace of her soul.

The Department of Agricultural Marketing (DAM) and non-government organisation Shukrishi (Shupannya Brand) will jointly work for the development of agri-business entrepreneurship, particularly among youths and women in the country. In this regard, Shukrishi and Programme on Agricultural and Rural Transformation for Nutrition, Entrepreneurship and Resilience in Bangladesh (PARTNER-DAM Part) of the Department of Agricultural Marketing (DAM) of the Agriculture Ministry signed a Memorandum of Understanding (MoU) in the capital on Tuesday. Agency Programme Director of the PARTNER-DAM Part Dr Mohammed Abdullah Al Faroque and Shukrishi CEO MA Baten Khan signed the deal on behalf of their respective sides. The deal is a formal commitment of the two organisations to jointly work to run practical development activities through training to create agricultural entrepreneurs at the field level. This MoU aims to establish a partnership with Shukrishi in its mission to empower rural communities through impactful training and development initiatives. As per the deal, Shukrishi will conduct hands-on training programmes to enhance the capacity and skills of the potential agro-entrepreneurs as well as monitor and support the activities of agro-entrepreneurs, particularly providing market access support to the participants through the Shukrish’s supply chain on completion of the training programme.

All scheduled banks operating in Bangladesh will remain closed on Wednesday (December 31), following the government’s declaration of a public holiday in honor of the late former Prime Minister and BNP Chairperson, Begum Khaleda Zia. The Department of Off-site Supervision (DOS) of Bangladesh Bank issued a circular to the Managing Directors and Chief Executives of all banks on Tuesday to confirm the closure. The decision follows a notification from the Ministry of Public Administration, which declared a one-day public holiday by executive order due to the passing of the former Prime Minister. According to the circular, banks will observe ‘Bank Holiday’ on Wednesday (December 31). Despite the general closure, banks may keep specific branches or departments open at their own discretion if it is necessary for the completion of annual or half-yearly financial accounting for the year 2025. On the other hand, Bangladesh Bank has postponed its scheduled press conference regarding the activities of the Shammilito Islamic Bank following the passing of Begum Khaleda Zia, former Prime Minister and Chairperson of the Bangladesh Nationalist Party (BNP). The central bank announced the decision through a short message service (SMS) sent to the media on Tuesday afternoon. But the Bangladesh Bank released a logo of Sammilito Islami Bank on Tuesday and sent it to the journalists. According to the message, the press conference, which was originally scheduled for 5:00 PM today at the Bangladesh Bank headquarters, has been canceled in light of the national mourning declared following the demise of Begum Zia. The central bank also noted that a formal press release regarding this matter will be issued later.

Bangladesh Bank (BB) has extended the deferred payment period, or usance, for imports of industrial raw materials, aiming to facilitate smoother trade transactions and support the country’s manufacturing sector. The new directive, issued by the Foreign Exchange Policy Department on Monday, adjusts the credit period for importers. The directive, signed by Md Harun-Ar-Rashid, Director of the Foreign Exchange Policy Department, took immediate effect for all authorised foreign exchange dealers in Bangladesh. According to the directive, the central bank has decided that industrial raw materials, including back-to-back imports, agricultural implements, and chemical fertilizers, will now be importable for a usance (deferred payment) period of up to 270 days. This applies to imports under suppliers' or buyers' credit. The circular specifies that the usance period shall be "270 days or the cash conversion cycle, whichever is earlier". This marks a shift from the previous temporary extension of 360 days, which was set to expire on December 31, 2025. The central bank has instructed Authorized Dealers (ADs) to ensure that the estimated cash conversion cycle reflects a ‘realistic position’ based on the customer’s historical operating and transaction trends before allowing these facilities. For back-to-back letters of credit, the usance period will be determined in alignment with the statutory export proceeds repatriation period. But, as per standard policy, this extended usance facility will not apply to imports financed under the Export Development Fund (EDF). This decision follows earlier policy supports (FE Circular No. 08 and FE Circular Letter No. 27) that had temporarily extended the usance period from 180 days to 360 days to facilitate trade during 2025. The new 270-day limit aims to balance the needs of industrial importers with the necessity of maintaining a realistic cash conversion cycle in the country's foreign exchange management.

The country’s stock markets opened on a negative note as key indices at both the Dhaka and Chattogram bourses fell in the first hour of trading on Monday, with most shares ending in the red. At the Dhaka Stock Exchange (DSE), the benchmark DSEX shed 21 points within the first hour. The Shariah-based DSES index lost 4 points, while the blue-chip DS-30 index dropped 14 points. Out of the traded issues, prices declined for 209 companies, while 77 companies saw gains and 90 issues remained unchanged. The share and unit turnover at the DSE crossed Tk 100 crore during the first hour of trading. The downtrend also persisted at the Chittagong Stock Exchange (CSE), where the overall index fell by 11 points in early trading. At the port city bourse, prices advanced for 17 companies against declines in 36, while 10 issues remained unchanged. During the first half of the session, the CSE recorded share and unit turnover worth Tk 1.40 crore.    

Gold prices in Bangladesh have climbed for the eighth consecutive time, with the price of 22-carat gold reaching a new all-time high of Tk 229,431 per bhori (11.664 grams) on Sunday. Bangladesh Jewellers Association (BAJUS) announced at night that it has increased the price of gold by Tk 1,575 per bhori, a decision that will take effect from Monday morning. BAJUS said the latest adjustment was made considering the overall market situation, particularly the rise in the price of pure gold (tejabi gold) in the local market. Under the new rates, the price of 21-carat gold has been set at Tk 218,992 per bhori, 18-carat gold at Tk 187,732 per bhori, and traditional-method gold at Tk 156,531 per bhori. In addition to the selling price, buyers will have to pay a government-mandated 5 percent VAT and a minimum 6 percent making charge fixed by BAJUS. However, making charges may vary depending on the design and quality of jewellery. BAJUS last revised gold prices on December 27, when it raised the price of 22-carat gold by Tk 1,574 per bhori to Tk 227,856. With the latest hike, BAJUS has increased gold prices eight times in a row. So far this year, gold prices have been adjusted 91 times in the domestic market — raised on 64 occasions and reduced only 27 times. Meanwhile, silver prices have remained unchanged in the local market. The price of 22-carat silver stands at Tk 6,065 per bhori, while 21-carat silver is selling at Tk 5,774 per bhori, 18-carat silver at Tk 4,957 per bhori, and traditional-method silver at Tk 3,732 per bhori.

Dhaka, Dec 2(UNB)-The Bangladesh Textile Mills Association (BTMA) on Sunday warned that many textile mills are about to shut down due to faulty policy and economic meltdown. The BTMA issued the warning from a press conference held at the Gulshan Club in Dhaka on Sunday. Speaking at the event, BTMA’s present and former leaders emphasized that the US $22 billion industry is past the point of needing simple assistance; it now requires structural rescue measures. They said that the sector has entered the "Intensive Care Unit" (ICU) and requires immediate, large-scale government intervention to survive. Former president of BTMA Mohammad Ali Khokon pointed out that a combination of rising operational costs and a sudden spike in taxes has pushed mill owners to the brink. "The time to save this sector with just 'oxygen' is gone. To bring this $22 billion industry back from the ICU, the government must take massive steps," Khokon said. He criticized the current fiscal policy, noting, “In the previous budget, the textile sector paid 12.5 percent to 15 percent tax. In the current budget, it has jumped to 27 percent. This is a 'death blow' to a struggling industry." Khokon further explained that current yarn sales are barely enough to cover labor wages and gas bills, leaving no room for profit or loan repayments, which is forcing owners to shut down their factories. BTMA President Showkat Aziz Russell urged to shut yarns import from neighboring countries to save the country’s textile sector. To stabilize the sector, the BTMA chief proposed several urgent measures: Dedicated Banking Window: Bangladesh Bank should create a separate window specifically for the textile sector with tailored interest rates. Utility Cost Reduction: A significant reduction in gas and electricity prices is essential to lower production costs. Lowering Interest Rates: High bank interest rates are currently unsustainable for spinning mills. Former president Khokon warned that the collapse of the domestic textile industry would have a domino effect on the Readymade Garments (RMG) sector. He cautioned that if local backward linkage (spinning and weaving) fails, the country will become entirely dependent on imports from neighboring countries like India. "If we cannot save our members, a day will come when India might stop exporting cotton, yarn, and fabric. On that day, the backbone of our garment industry will break," he warned. While the current situation is dire, Khokon expressed hope that the upcoming political leadership would recognize the strategic importance of this sector. "We believe and expect that those who take leadership in the coming days will give special priority to this industry," he added. The present BTMA President, Russell, hints that 50 mills have already closed and demanded a policy decision from the government within the next 72 hours. Senior BTMA leaders and textile owners were also present at the press conference.  

Bangladesh Bank has stepped up purchases of US dollars from commercial banks to stabilise the foreign exchange market following a sharp rise in inward remittances this year. Executive Director and Spokesperson Arif Hossain Khan said on Sunday that the central bank acquired $110 million from three commercial banks through a Multiple Price Auction (MPA) at an exchange rate of Tk 122.30 per dollar. The central bank has acted to prevent significant fluctuations in the exchange rate as commercial banks face a surplus of dollars from the remittance boom. In December alone, Bangladesh Bank has purchased $920 million, bringing total purchases in the current fiscal year, FY2025-26, to $3.05 billion. Remittance flows by expatriate Bangladeshis have shown robust growth. Between December 1 and December 27, the country received $2.75 billion, up 14.03 percent from $1.98 billion during the same period last year. Looking at the broader fiscal year, from July 1 to December 20, Bangladesh received $15.79 billion in remittances, compared with $13.54 billion in the same period of FY2024-25, representing roughly 16.16 percent growth. In November alone, expatriates sent $2.89 billion. Central bank officials attribute the surge to several key factors, including strict anti-Hundi measures to curb illegal money transfers, effective implementation of remittance incentives and improved efficiency and accessibility of formal banking channels for migrants. The sustained inflow of foreign exchange has bolstered the country’s reserves to over $32 billion, providing relief to its overall economy.  

Bangladesh’s capital market opened the week on a positive note as both the Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) recorded gains during the first hour of trading on Sunday, with most company shares closing higher. At the DSE, the benchmark index DSEX rose by 21 points in the first hour. The Shariah-based DSES index advanced by 3 points, while the blue-chip DS-30 index remained unchanged. Out of 253 companies traded at the DSE during the period, prices of 253 shares increased against 54 that declined, while 77 remained unchanged. The turnover at the DSE crossed Tk 150 crore in the first hour. Stocks rise in early trade at DSE, fall at CSE The upward trend was also visible at the CSE, where the overall index CASPI gained 25 points. At the port city bourse, share prices of 46 companies rose, 15 declined and 11 remained unchanged. The CSE recorded transactions worth over Tk 1.04 crore in shares and units during the first hour of trading.

The country’s two stock exchanges will remain closed for three consecutive days from Thursday due to Christmas and the weekly holidays. The Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) said trading will be suspended on Thursday in observance of the government-declared general holiday for Christmas, the major religious festival of the Christian community. During this period, all capital market activities, including share trading, clearing, and settlement, will be halted. The Bangladesh Securities and Exchange Commission (BSEC) will also keep its official activities closed on Thursday. Banks to remain open Saturday for election-related transactions As Friday and Saturday are weekly public holidays, there will be no trading in the stock market for three straight days—from Thursday to Saturday. Normal trading and banking operations will resume on Sunday (December 28) after the holidays.