United News of Bangladesh

The Institute of Chartered Accountants of Bangladesh (ICAB) has issued a strong condemnation and refutation of what it calls "misleading information" spread by the Institute of Cost and Management Accountants of Bangladesh (ICMAB) regarding audit rights and the professional standing of Chartered Accountants. In a press release issued on Wednesday, ICAB stated that ICMAB's claims were made during a press conference held on Tuesday (June 17). The ICAB affirmed its commitment to upholding the highest standards of financial reporting, auditing, and corporate governance, emphasizing the indispensable role its members play in ensuring transparency, accountability, and sustainable economic growth for the nation. The ICAB clarified several points to "set the record straight and reject the misrepresentations made by ICMAB." FBCCI Board of Directors election scheduled for Sept 7 According to ICAB, there are currently 613 practicing Chartered Accountants (CAs), supported by an additional 145 CAs and over 12,000 professional staff working under 259 CA firms. While acknowledging that the number of active entities is much lower than the over 300,000 registered entities in Bangladesh. The ICAB stated that the total DVC (Document Verification Code) generated for audited entities in 2024 was 57,993, which corresponded to the number of income tax returns filed. Therefore, ICAB asserts that ICMAB's statement about a shortage of auditors in Bangladesh is incorrect.

The election to the Board of Directors of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), the country’s apex trade body, is set to take place on September 7. On that day, members of the General Assembly will elect the President, Senior Vice President, Vice Presidents and Directors of the FBCCI for the 2025–2026 and 2026–2027 terms through full participation of all eligible voters. The FBCCI Election Board officially announced the election schedule on Wednesday (June 18). The election will be conducted in accordance with the Trade Organisation Act 2022 and the recently formulated Trade Organisation Regulations 2025. As per the updated regulations, the size of the FBCCI Board of Directors has been reduced from 80 to 46 members. Among these, there will be one President, one Senior Vice President, and two Vice Presidents. Economy eyes gradual growth with steady recovery in key sectors: Finance Ministry According to the election schedule, all member chambers and associations must submit the list of their nominated representatives for the FBCCI General Assembly by 5:00 pm on July 2. The preliminary list of voters for the FBCCI Board election will be published today. The final voter list is scheduled for release on July 26. The preliminary list of candidates for the positions of President, Senior Vice President, Vice Presidents, and Directors will be announced on August 8. Following the process of verification, scrutiny, and analysis, the Election Board will publish the final list of candidates on August 14. Candidates wishing to withdraw their nominations must inform the Election Board by 2:00 pm on August 16. On the same day, the Board will release the definitive list of candidates contesting in the FBCCI Board of Directors election.

The Dhaka stock market gained ground with most shares edging up, while the Chattogram market declined on Wednesday, the fourth trading day of the week. In the first hour of trading, the benchmark DSEX index of the Dhaka Stock Exchange (DSE) rose by 7 points. The Shariah-compliant DSES index gained 3 points, while the DS30 index, which tracks blue-chip companies, edged up by 2 points. Share prices increased for the majority of companies on the DSE. Out of the traded scrips, 155 companies posted gains, 105 saw a decline, and 114 remained unchanged. During the initial hour, the total turnover in Dhaka crossed Tk 80 crore in shares and mutual fund units. Market swings amid volatile trading at DSE and CSE In contrast, the Chattogram Stock Exchange (CSE) saw a 14-point drop in its overall index. Among the 73 companies that participated in trading on the CSE, prices rose for 26, fell for 34, and remained unchanged for 13. The CSE recorded trades worth over Tk 1 crore in the first hour.

Ten Bangladeshi companies participated in the three-day ‘Global Sourcing Expo Sydney 2025’ that began at the International Convention Centre in Sydney, Australia on Tuesday. The 10 firms are participating in this international exhibition under an initiative of the Bangladesh High Commission in Australia, said a PID handout. Eight apparel manufacturers and suppliers are showcasing their products with finance of the Export Promotion Bureau (EPB), while two other Bangladeshi firms from the garment sector are participating on their own initiative. Bangladesh’s High Commissioner to Australia F M Borhan Uddin inaugurated the country’s exhibition booths at the exhibition. First-ever 'Made in Bangladesh' Expo opens in Brazil Some 600 manufacturers and suppliers from 12 countries are taking part in the Sydney expo. Such international trade fairs are held twice a year in Sydney and Melbourne, offering an important platform for showcasing products, exploring new markets, and establishing business links among importers, exporters, manufacturers and suppliers. Readymade garments account for around 93 percent of Bangladesh’s total exports to Australia. Bangladesh is currently Australia’s 23rd largest trading partner.

Bangladesh’s economy is set to grow steadily over the medium term, with key sectors — agriculture, industry, and services — showing signs of gradual recovery, according to a new projection by the Finance Ministry. The Medium-Term Macroeconomic Policy Statement, released recently, estimates that the country’s real GDP growth will increase from 4.22 percent in FY2023-24 to 5.0 percent in FY2024-25, eventually reaching 6.5 percent by FY2027-28. This growth outlook is underpinned by steady sectoral performance, improved macroeconomic stability, and the gradual recovery of demand-side components such as consumption, investment, exports, and imports. The real sector of the economy, viewed through the supply-side lens, is composed of three major pillars — agriculture, industry, and services. Each plays a critical role in supporting economic expansion, job creation, and overall development. The agriculture sector, although contributing only around 10 percent to GDP, plays a crucial role in food security and rural stability. Its growth is projected to rise from 3.11 percent in FY2024-25 to 3.57 percent by FY2027-28. Agricultural output will continue to provide a vital cushion against external shocks, while ensuring rural stability and livelihoods, according to the statement. Live presentation of budget for FY26 advanced by an hour to 3pm: Finance Ministry The industry sector, which accounts for about 37 percent of GDP, slowed to 3.51 percent in FY2023-24 due to global and domestic challenges. However, growth is expected to bounce back to 7.36 percent by FY2027-28. This recovery is expected to be driven by improved domestic demand, increased investment, and a gradual rebound in export-oriented manufacturing — particularly in the garments and textiles sector. The services sector, the largest contributor with roughly 52 percent of GDP, is expected to continue as the main growth driver. Activities in trade, transport, communication, and finance are projected to contribute up to 3.4 percentage points to annual GDP growth. On the demand side, the recovery of consumption and investment — the two largest components of GDP — will play a pivotal role in supporting economic momentum. Private consumption, which accounts for roughly 65 percent of GDP, remains the primary driver of demand. After a period of subdued activity in FY2022-23, consumption levels are showing signs of recovery, supported by easing inflation, increased remittance inflows, and stable employment conditions in key sectors. NBR to be upgraded as independent and specialised body: Finance Ministry  Investment, encompassing both public and private components, is projected to rise from a growth rate of 4.83 percent in FY2024-25 to 8.33 percent by FY2027-28. Total investment currently stands at about 33 percent of GDP. The government’s ongoing infrastructure drive — including transport, energy, and digital connectivity projects — coupled with private sector reinvestment, is expected to sustain the upward trajectory in capital formation. External trade, which has remained volatile due to global uncertainties and supply chain realignments, is also showing signs of stabilisation. Exports, currently contributing 12–13 percent of GDP, are witnessing modest recovery with increasing orders in the garments sector, while imports — comprising 17–18 percent of GDP — are rebounding as raw material inflows pick up for industrial use. The medium-term growth outlook is predicated on several macroeconomic assumptions. These include a gradual easing of inflationary pressures, continuation of stable macroeconomic and fiscal policies, sustained foreign exchange stability, and the implementation of structural reforms aimed at improving productivity and governance. Particular emphasis has been placed on enhancing the investment climate, strengthening export competitiveness, and expanding digital and financial inclusion. Government officials said successful implementation of these reforms will be critical in realising the projected growth path. Besides, improved performance in the external sector — especially through a diversified export basket and strengthened remittance inflows — is expected to provide further resilience to the economy. Finance Ministry engaging with different ministries to prepare revised ADP While challenges remain, including global economic uncertainties, energy price volatility, and climate-related risks, Bangladesh’s economic fundamentals remain strong, they said. If the current trajectory continues, Bangladesh is expected to reclaim a growth rate of 6.5 percent by FY2027-28 — reinforcing its status as one of South Asia’s most resilient emerging economies.

Bangladesh has significantly solidified its position as a global leader in sustainable apparel manufacturing, with 68 of the world's top 100 eco-friendly ready-made garment (RMG) factories now located in the country. An impressive nine out of the top 10 highest-rated LEED (Leadership in Energy and Environmental Design) certified factories worldwide are also based in Bangladesh. This remarkable achievement follows the recent certification of four more Bangladeshi garment factories with internationally recognized 'environmentally friendly certificates’. The latest certifications bring the total number of LEED-certified garment factories in Bangladesh to 248. Among these, 105 factories have achieved Platinum certification, and 129 have secured Gold certification. A particularly significant highlight is Bangladesh's overwhelming presence among the world's elite: 9 of the top 10 highest-rated LEED-certified factories globally are Bangladeshi and the country boasts 68 facilities within the top 100. 2 more RMG factories get LEED certification, total number now 220 The four newly LEED-certified factories are Advance Attire Limited, Fukuria, Manikganj: Achieved Platinum certification with 96 points. Amanat Shah Fabrics Limited (Woven Composite Unit), Pachdonan and Narsingdi: Awarded Platinum certification with 82 points. Cotton Field BD Limited (Production Building), Rajnagar, Tongi, Gazipur: Received Platinum certification with 83 points. KM Apparel Knit Private Limited, Chanpara, Uttarkhan, Dhaka: Earned Gold certification with 62 points. BGMEA President Mahmud Hasan Khan Babu told UNB that this is a matter of great pride for Bangladesh. “We have now emerged as a global role model in green industrialization,” he added. On the broader impact of LEED certification, he said, "LEED certification not only signifies environmentally friendly infrastructure but also builds trust among international buyers and makes Bangladesh's garment industry more competitive.” 2 more RMG factories get LEED certification, total number now 220 Analysts suggest that this achievement elevates Bangladesh's ready-made garment sector to an unparalleled height in global standards. It serves as clear evidence that Bangladesh is now one of the world's leading nations in sustainable and environmentally friendly industrial development.

Trading at the stock markets in Dhaka and Chattogram began on Monday, the second working day of the week, on a positive note, with key indices showing gains and most listed companies seeing a rise in their share prices. At the Dhaka Stock Exchange (DSE), the benchmark DSEX index rose by 24 points. The Shariah-based DSES index increased by 8 points, while the blue-chip DS30 index went up by 7 points. A majority of the companies participating in trading saw gains. Out of all the traded securities, 256 companies witnessed an increase in share prices, while 39 declined and 72 remained unchanged. During the first hour of trading, the DSE recorded transactions worth over Tk 80 crore in shares and units. Stocks slide sharply in early trading at DSE, CSE Meanwhile, at the Chittagong Stock Exchange (CSE), the overall index climbed by 34 points. Of the 53 companies traded on the CSE, prices rose for 26, fell for 15, and remained unchanged for 12. The first hour of trading on the CSE saw transactions amounting to over Tk 40 lakh in shares and units.

Export and import activities between Bangladesh and India through Benapole land port resumed on Sunday morning after a 10-day closure for the Eid-ul-Azha holidays. Due to the extended holidays from June 5 to 14, a large quantity of goods had piled up at the port. Around 4,000 handling workers joined duty in the morning to load and unload the goods, said the port’s Deputy Director Mamun Kabir Talukdar. Imdadul Haque Lata, General Secretary of the Benapole C&F Agents Association, said bustling activity has returned to the port. Businessmen involved in trade, along with port and customs officials, employees and dock workers, are all busy unloading goods. Screening tightened at Benapole border to prevent spread of new Covid variant Ibrahim Ahmed, officer-in-charge of Benapole Checkpost Immigration Police, said immigration services at the land port continued as usual during the holidays. “In previous years, thousands of people used to travel to India during the Eid holidays, but this year, a different scene was observed,” he added.

Trading on Bangladesh’s stock markets resumed on a downward trend on Saturday, following a 10-day closure for Eid-ul-Azha, with both the Dhaka and Chattogram bourses witnessing a fall in key indices and a majority of listed companies seeing price drops. During the first hour of trading, the benchmark index of the Dhaka Stock Exchange (DSE) fell by 26 points. The other two indices—the Shariah-based DSES and the blue-chip DS30—also declined by 8 points each. Right from the opening, most shares on the DSE were in the red. Out of the traded securities, prices fell for 212 companies, rose for 46, and remained unchanged for 50. Turnover during the opening hour stood at Tk 30 crore. Stock markets in Bangladesh end on high note ahead of Eid holidays Chattogram Stock Exchange (CSE) also opened on a similar note, with the overall index dropping by 44 points. Out of the 17 companies that participated in early trading on the CSE, share prices rose for 7, declined for 8, and remained unchanged for 2. CSE’s early turnover stood at approximately Tk 9 lakh in shares and units.    

With government offices, banks, ports, factories, private institutions and retail outlets all shut for the 10-day Eid-ul-Azha holiday, economists and business leaders say the country has entered a state of economic stagnation. A visit to several bustling wholesale and retail markets in the capital — typically alive with traders and buyers — reveals that normal trade and daily business activities are yet to resume. Kawran Bazar, one of the largest wholesale hubs in Dhaka, remains stagnant even days after the holiday.  Traders report that supplies have only just started to arrive, but operations are far from normal. “Supplies, from vegetables to other items, are only now beginning to come in. The city still has fewer people, and many warehouse workers are still on leave, so business is virtually at a standstill,” said Monota Gazi, a wholesale vegetable trader at Kawran Bazar. Holiday trap in Bangladesh: Businesses struggle as economic activity slows The same scenario is visible across major trading centres in Old Dhaka, Badda, Jatrabari and Sadarghat.  Transportation of goods is moving slowly, affecting supply chains and overall market management. “Mangoes, fish, vegetables – all types of goods are being transported sluggishly. It doesn’t seem like things will return to full pace before Sunday,” said Mokbul Hossain, a wholesale trader in Sadarghat. The situation is similar in foreign trade. Land ports at Banglabandha, Bhomra and Benapole are closed for 10 days, bringing cross-border trade to a halt. Though the Chattogram port remains open, cargo handling has significantly slowed down.  Port authorities report that most workers are on holiday, causing delays in unloading shipments even though pressure is lower due to factory closures. Industry owners and business associations argue that such extended Eid holidays are detrimental to the economy.  Following a nine-day closure for Eid-ul-Fitr earlier in the year, they now see Eid-ul-Azha’s extended holiday as another disruption to production. “Our economy is already under pressure. We had nine days off during Eid-ul-Fitr, and now 10 days for Eid-ul-Azha.  Every sector of the economy is closed. This is nothing but madness. Instead of shutting everything down for 10 days, one day off with normal operations resuming the next day would have made more sense,” said Taskeen Ahmed, President of the Dhaka Chamber of Commerce and Industry (DCCI). He added, “It’s not as though people return from a 10-day holiday and jump into work full of energy. It will take another week to shake off the festive mood. If businesses operate only 20 days in a month, the owners will suffer and so will the workers.” Commenting on the holiday length, Towfiqul Islam Khan, Senior Research Fellow at the Centre for Policy Dialogue (CPD), said, “A 10-day holiday is a big decision, and it doesn’t seem like the government consulted stakeholders beforehand. Without consultation, such decisions will have adverse impacts. Naturally, there is no way to avoid the partial economic fallout of such a long closure.” He suggested that factories should at least follow the labour laws while deciding on closures. Highlighting the issue from a global business perspective, Mohammad Helal Uddin, Executive Vice Chairman of the Microcredit Regulatory Authority, said, “Even during a long holiday, it was vital to keep some economic wings operational. For example, all banks are closed now. If banks or specific departments involved in import-export are shut for 10 days, trade will suffer. Select specialised banks could have remained open.” He pointed out that although people enjoyed travelling during the long holiday, there was no clear roadmap for keeping essential economic activities running with limited manpower.  He urged authorities to adopt a planned approach to holiday management in future to avoid unnecessary economic losses.