United News of Bangladesh

Bangladesh Textile Mills Association (BTMA) on Thursday threatened to shut down all spinning mills across the country from February 1 if the government does not withdraw duty-free import facilities for certain categories of cotton yarn. BTMA President Showkat Aziz Russell issued the ultimatum at a press conference held at the association’s office in Dhaka. The association is demanding the immediate suspension of bond facilities on the import of 10–30 count cotton yarn, arguing that the measure is essential to protect the local spinning industry from what it describes as unfair competition. 11 more institutions inc. banks, municipal bodies join BIDA’s One-Stop Service portal The dispute centres on the National Board of Revenue’s (NBR) bond facility, which allows export-oriented industries to import raw materials duty-free on the condition that the finished products are exported. According to the BTMA, this policy is severely undermining local spinning mills, particularly those producing 10–30 count yarns. Highlighting the urgency of the issue, the BTMA said the government must implement the Commerce Ministry’s recommendation to withdraw the facility within the current month. Russell clarified that withdrawing the duty-free facility should not be confused with the imposition of a new tariff. Importers, he said, would still be able to claim duty drawbacks from the government under existing rules. The demand follows a recent recommendation by the Bangladesh Trade and Tariff Commission (BTTC), which advised the Commerce Ministry to suspend the bond facility for 10–30 count cotton yarn. Proposed amendments to Bank Company Act faces fierce opposition from BAB Local millers say 10–30 count yarn is a core product of the domestic spinning sector, and the continued influx of duty-free imported yarn of the same count is making local production economically unsustainable. Earlier, the Commerce Ministry formally recommended to the NBR that the bond facility be suspended to safeguard domestic investment and ensure a level playing field for local textile manufacturers.

Gold prices in Bangladesh have surged past the Tk 250,000 mark per bhori on Wednesday, hitting an all-time high in the domestic market. The Bangladesh Jewellers Association (BAJUS) raised the price of 22-carat gold by Tk 8,339 per bhori (11.664 grams), setting the new rate at Tk 252,467, the highest ever recorded in the country. In a notification issued at night, BAJUS said the price adjustment was made in view of a rise in the local market price of pure gold (tejabi gold).  The new prices will come into effect from Thursday. According to the revised rates, the price of 21-carat gold has been fixed at Tk 240,978 per bhori, 18-carat gold at Tk 206,569 per bhori, while gold under the traditional method will sell at Tk 169,653 per bhori. Gold price hits fresh record in Bangladesh In addition to the selling price, buyers will have to pay a mandatory 5 percent VAT set by the government 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 January 20, when it increased the rate of 22-carat gold by Tk 5,249 per bhori to Tk 244,128 — then the highest price in Bangladesh’s history. With the latest adjustment, gold prices have been revised 10 times in the domestic market so far in 2026. Of these, prices were increased on eight occasions and reduced twice. Silver Prices Also Rise Alongside gold, silver prices have also been increased. BAJUS raised the price of 22-carat silver by Tk 292 per bhori to Tk 6,882, marking the highest silver price ever in the country. Gold price hits record Tk 234,680 per bhori in Bangladesh Under the new rates, 21-carat silver will sell at Tk 6,532 per bhori, 18-carat silver at Tk 5,599 per bhori, while silver under the traditional method has been fixed at Tk 4,199 per bhori. So far this year, silver prices have been adjusted seven times in the local market, with prices increased five times and reduced twice.

Gold prices in Bangladesh have soared to a new all-time high, with the price of 22-carat gold set at Tk 238,879 per bhori (11.664 grams), following the latest adjustment by the Bangladesh Jewellers Association (BAJUS). In a notification issued late Monday night, BAJUS announced a price hike of Tk 4,199 per bhori, pushing gold prices to a record level.  The new rates will come into effect from Tuesday morning. Under the revised prices, 21-carat gold will cost Tk 228,031 per bhori, 18-carat gold Tk 195,430 per bhori, while gold under the traditional method has been fixed at Tk 160,147 per bhori. BAJUS said the price adjustment was made in view of an increase in the local market price of tejabi gold (pure gold), considering the overall market situation. 7.8 million ounces of new gold resources discovered in Saudi Arabia The association also noted that a mandatory 5 percent value-added tax (VAT) imposed by the government and a minimum 6 percent making charge set by BAJUS must be added to the selling price of gold jewellery. However, making charges may vary depending on design and quality. The last price revision took place on January 14, when BAJUS raised the price of 22-carat gold by Tk 2,625 per bhori to Tk 234,680 — which had been the highest price in the country’s history until now. With the latest adjustment, gold prices have been revised eight times so far in 2026, with six increases and two reductions. In 2025, gold prices were adjusted a total of 93 times — raised on 64 occasions and reduced 29 times. Alongside gold, silver prices have also been increased. Gold price hits record Tk 234,680 per bhori in Bangladesh The price of 22-carat silver has been raised by Tk 291 per bhori to Tk 6,240 — the highest level ever recorded in the country. Under the new rates, 21-carat silver will cost Tk 5,949 per bhori, 18-carat silver Tk 5,132 per bhori, and silver under the traditional method Tk 3,849 per bhori. So far this year, silver prices have been adjusted five times, with three increases and two reductions.

The Bangladesh Investment Development Authority (BIDA) has signed Memorandums of Understanding (MoUs) with 11 service-providing institutions to integrate them into its One-Stop Service (OSS) portal, aiming to make business operations faster, more transparent, and dynamic for both domestic and foreign investors. The signing ceremony took place on Monday at the BIDA conference room in Agargaon, Dhaka. BIDA Executive Chairman (with the rank of State Minister) Chowdhury Ashik Mahmud Bin Harun attended the event as the chief guest, while Executive Member Air Commodore (retd.) Md. Shaharul Huda presided over the program. Bangladesh Bank allows entrepreneurs to Import Capital Machinery without BIDA’s approval The 11 new partners include four major banks and seven city corporations: Banks: Rupali Bank PLC, Dhaka Bank PLC, Bank Asia PLC, and Bengal Commercial Bank PLC. City Corporations: Rajshahi, Khulna, Mymensingh, Barishal, Cumilla, Gazipur, and Narayanganj. Under these agreements, these institutions will link their internal systems with BIDA’s online OSS platform. This integration will allow investors to open bank accounts, obtain trade licenses, and access various financial and municipal services through a single digital window, eliminating the need for physical visits and reducing bureaucratic hurdles. Speaking at the event, Ashik Chowdhury emphasized BIDA's long-term goal of creating a "single-entry" system. "Our objective is to reach a stage where everyone from small entrepreneurs to large industrial groups can access all necessary government services through a single website and a single login," he said. "We want to move away from the culture of submitting the same data repeatedly to different departments," he added. BIDA, Home Ministry strengthen coordination to boost foreign investment  BIDA Executive Chairman noted that developed nations have successfully implemented data-sharing across government agencies, and Bangladesh is following that path. While acknowledging that the journey is time-consuming, he stressed the importance of constant monitoring and feedback to ensure the system actually solves problems for investors. According to BIDA, the online OSS portal was launched in February 2019 under the One-Stop Service Act, 2018. With the addition of these 11 institutions, BIDA has now signed MoUs with a total of 63 organizations. Currently, the portal offers 142 services from 47 different agencies. To date, 215,699 applications have been successfully processed through the system. BIDA officials stated that services from more organizations will be integrated into the platform in the near future. BIDA provides 147 services through One Stop Service (OSS) includes- Business Setup & Registration: Company Registration, incorporation from the RJSC (Registrar of Joint Stock Companies and Firms). BIDA Project Registration, Issuance of e-TIN (Tax Identification Number) and e-BIN (Business Identification Number) via the National Board of Revenue (NBR), Issuance and renewal of trade licenses from various City Corporations. Specific services designed to help international businesses operate in Bangladesh. Such as Work Permits: Issuance, extension, and cancellation of work permits for foreign employees. Visa Recommendations: Support for E-visas (Employment), PI-visas (Investor), and Visa on Arrival. Branch/Liaison Office Permits: Permission to set up and extend the duration of representative offices. Remittance Approvals: Approval for royalty, franchise, and technical assistance fee payments abroad. Land Use Clearance: Provided by authorities like RAJUK (Dhaka) or CDA (Chattogram). Construction Permits: Approval for building plans and occupancy certificates. E-Mutation: Digital land record updates via the Ministry of Land. Utility Connections- electricity from DPDC, DESCO, BREB, and BPDB. Water & Sewerage: Industrial water connection permits from WASA. Environment Clearance: Issuance of Site Clearance and Environmental Clearance Certificates (for green, orange, and red categories) from the Department of Environment.

A move by the central bank to limit shareholding for individuals, families, and institutions has met with fierce opposition from the Bangladesh Association of Banks (BAB), an organization of bank owners, sparking a debate over the future of corporate governance in Bangladesh's financial sector. Under the draft Bank Company (Amendment) Act 2025, Bangladesh Bank has proposed that no person, family, or institution may directly or indirectly hold more than a 5 percent stake in more than one bank simultaneously. The Financial Institutions Division (FID) of the Ministry of Finance held a meeting last week, chaired by FID Secretary Nazma Mobarek, to discuss the addition of three new sub-sections to Section 14/B of the law. The primary objective is to prevent vested interest groups from exerting undue influence over multiple financial institutions at once. Three legislative changes are proposed to achieve the desired result: If a person or entity owns 2 percent or more of one bank, they cannot hold a similar 2 percent stake in any other bank. Even if an investor holds more than 5 percent of a bank's shares, their voting rights will be capped at 5 percent (excluding the government and non-profit/strategic investors). Current regulations allow an investor to hold up to 10 percent of a bank’s shares with "one share, one vote" rights, and there are no restrictions on holding shares in multiple banks. The Bangladesh Association of Banks (BAB), representing private bank owners, has strongly opposed the move. BAB representatives argued that general shareholders do not influence policy; rather, the Board of Directors does. They contend that since there are already proposals to reduce the number of family members on boards, further limits on shareholding are unnecessary and "excessively strict." BAB further proposed that the definition of a "family" be limited to spouses and dependent members, and that the maximum family shareholding limit be increased to 25 percent. Conversely, Bangladesh Bank officials highlighted the recent devastation caused by a single large conglomerate that gained majority control over six banks. Central bank representatives stated that this group manipulated policies to loot thousands of crores of taka, leaving hundreds of thousands of depositors in jeopardy. "The government had to inject Tk 20,000 crore of public money at the end of last year to compensate depositors of five merged private banks," officials noted during the meeting. FID Secretary Nazma Mobarek stated that more time is needed to finalize the amendments due to the significant differences in opinion between the central bank and the BAB. "We have asked the central bank officials and BAB representatives to reach a consensus before the next meeting," the Secretary said.

Industry leaders and experts have called for the immediate implementation of business-friendly policies and the support of an elected government to unlock the potential of the sustainable packaging sector. Speakers at a high-profile industry event stated that with the right policy framework, this sector—already the country's second-largest export earner—could eventually surpass the Readymade Garments (RMG) industry. These observations were made on Saturday during the closing ceremony of Garments Accessories & Packaging Expo (GAPEXPO) 2026 and Garment Technology Bangladesh (GTB) Expo2026. The four-day mega-exhibition, organized by ASK Trade & Exhibitions Pvt. Ltd. and the Bangladesh Garments Accessories & Packaging Manufacturers & Exporters Association (BGAPMEA), concluded at the International Convention City Bashundhara (ICCB). Chief Guest Altaf Hossain Chowdhury, former commerce and home minister, expressed high optimism regarding the sector's trajectory. "In the last fiscal year, the packaging and accessories sector generated $7.45 billion in exports. This sector's energy and capacity are remarkable," he said. He further noted that if the BNP forms the government in the future, it would stand by the business community to resolve all systemic issues hindering the sector. Fazle Shamim Ehsan, President of the Bangladesh Employers Federation (BEF), highlighted that while the sector is often "underrated," its ability to import raw materials and re-export them as finished goods proves its immense capability. He stressed the need for a stable, democratic government to restore foreign investor confidence and accelerate economic growth. Industry leaders also voiced concerns regarding current trade regulations. Shaukat Aziz Russell, President of the Bangladesh Textile Mills Association (BTMA), warned that certain policies are pushing the industry toward a crisis. Russell argued that if the ‘Free of Cost’ (FOC) import facility is allowed at 100 percent, domestic factories will fail as all products will be sourced from abroad. He called for a reduction in extra taxes and port levies to enhance the competitiveness of local manufacturers. Additionally, Md. Shahriar, President of BGAPMEA, emphasized the integrity of real entrepreneurs, noting that while corrupt individuals have laundered money under the guise of business, true industrialists are committed to the nation's wealth. The Export Promotion Bureau (EPB) reported that this year’s expo was 80 percent more successful than the previous year. Abu Mokhles Alamgir Hossain, Director of EPB, highlighted the $700 billion global packaging market as a major opportunity. "As the 'Product of the Year,' we will organize seminars to address this sector's challenges and engage with the National Board of Revenue (NBR) to ensure bond facilities and other necessary support," he stated. The 15th GAPEXPO-2026, held from January 14–17, featured 1,500 stalls and 350 domestic and international companies from countries including India, China, Pakistan, Taiwan, Australia, Germany, and the UAE. The organizers reported over 100,000 visitors, facilitating vital connections between global buyers and local sellers. The event concluded with the presentation of "Best Stall" awards to eight exceptional participating companies.

The depositors of five crisis-hit Shariah-based banks in Bangladesh will have to forgo profits on their savings for two years as the central bank moves to stabilise the lenders ahead of a planned merger. Bangladesh Bank has ordered a ‘haircut’ on profits accrued during 2024 and 2025, meaning depositors will not receive any returns for that period and will see their account balances reduced. The directive follows what the regulator described as international resolution practices for distressed banks. Institutional deposits to be converted into shares as Bangladesh Bank finalises 'Sammilito Islami Bank' merger The decision was conveyed on Wednesday through letters sent to administrators of First Security Islami Bank, Global Islami Bank, Union Bank, Exim Bank and Social Islami Bank. The five banks have been merged into a single entity, ‘Sammilito Islamic Bank PLC’. Under the instruction, all deposit accounts must be recalculated based on their status as of December 28, 2025. Any profit credited between January 1, 2024 and December 28, 2025 must be removed, with the final balance determined after applying the prescribed haircut. “To ensure the balanced implementation of the Resolution Scheme, all deposit accounts must be recalculated,” the central bank said in its letter, adding that the process should be completed swiftly. Bank Merger: 'Sammilita Islami Bank' receives final approval Bangladesh Bank officials said the lenders incurred heavy losses over the two-year period, leaving them unable to distribute profits to depositors. Prior to the directive, the banks had offered profit rates ranging from 7 percent to 9 percent on deposits. According to central bank data, the five banks collectively serve about 7.5 million depositors and hold roughly Tk142,000 crore in deposits. Their total outstanding loans stand at around Tk193,000 crore, a large portion of which is classified as defaulted. The move means depositors will lose not only two years of expected earnings but will also experience a direct reduction in their account balances — an unusually severe step in Bangladesh’s banking sector. It follows an earlier decision in which the share value of the five banks was declared zero, wiping out investments held by sponsors and shareholders. Exim Bank was previously controlled by Nazrul Islam Mazumder, former chairman of the Bangladesh Association of Banks. The remaining four lenders were controlled by Saiful Alam, head of the S. Alam Group. Now a writ on the 5 banks' merger filed with HC Both were widely known as close associates of ousted Prime Minister Sheikh Hasina and allegedly held significant shareholdings while securing large loan facilities through various entities. The merger marks one of the most sweeping banking restructurings undertaken by Bangladesh Bank as it seeks to contain systemic risk and restore confidence in the Islamic banking segment.  

Gold prices in Bangladesh have climbed to an all-time high, with the Bangladesh Jewellers Association (BAJUS) fixing the price of 22-carat gold (11.664 grams) at Tk 234,680 per bhori after raising it by Tk 2,625. In a statement issued on Wednesday night (January 14, 2026), BAJUS said the new prices will come into effect from Thursday (January 15, 2026). Under the revised rates, 21-carat gold will sell at Tk 224,007 per bhori, 18-carat gold at Tk 191,989 per bhori, while gold under the traditional method has been priced at Tk 157,231 per bhori. BAJUS said the price adjustment was made considering the rise in the local market price of pure gold (tejaabi shona) and the overall market situation. Read more: What Does Gold Carat Mean? Decoding Gold Purity Levels In addition to the announced selling price, buyers will have to pay a mandatory 5 percent value-added tax (VAT) set by the government and a minimum 6 percent making charge fixed by BAJUS. The making charge, however, may vary depending on the design and quality of jewellery. The last price revision was made on January 12, when BAJUS raised the price of 22-carat gold by Tk 4,199 per bhori to Tk 232,055. With the latest adjustment, gold prices have been revised seven times so far in 2026 increased five times and reduced twice. In 2025, BAJUS revised gold prices a total of 93 times, increasing prices on 64 occasions and cutting them 29 times. Despite the rise in gold prices, silver prices have remained unchanged in the domestic market. The price of 22-carat silver is Tk 5,949 per bhori. Read more: Gold hits record high in Bangladesh as prices jump by Tk4,199 per bhori Meanwhile, 21-carat silver is selling at Tk 5,715 per bhori, 18-carat at Tk 4,899 per bhori and silver under the traditional method at Tk 3,674 per bhori. So far this year, silver prices have been revised four times — increased twice and reduced twice. In 2025, silver prices were adjusted 13 times, with increases on 10 occasions and decreases on three.

National Board of Revenue (NBR) Chairman Md Abdur Rahman Khan on Wednesday indicated that the government may reconsider the current VAT and turnover tax system for the country’s jewellery businesses, stressing the need for fair taxation and better sectoral discipline. “If VAT is properly applied on value addition with full input tax credit, the effective burden should not be excessive,” he said at a Meet the Business programme with Bangladesh Jewellery Samity (BAJUS) organised by the NBR. The NBR chairman also said that arbitrary rates discourage compliance and are difficult to enforce. He invited the sector to propose a rational formula for VAT based on value addition assuring that the NBR is willing to amend laws accordingly possibly in the next finance act. Similar flexibility, he said, could be considered for the existing 1% minimum turnover tax if a transparent and reliable recording mechanism is introduced. Read More: NBR chairman directs Dhaka Customs House to quickly dispose of goods He agreed in principle with traders that imposing VAT on the full sales value of high-value products like gold ornaments is unreasonable, as the real value addition lies mainly in labour or making charges. The NBR Chairman said restoring discipline in the country’s jewellery sector is crucial for ensuring better revenue collection, strengthening rule of law and safeguarding the long-term sustainability of the industry.  “We believe businesses should do business and our responsibility is to make their path easier, provide cooperation and ensure transparency,” the NBR chief said. He said that the jewellery sector though one of the oldest trades in the country has long remained outside a disciplined and formal framework. He said  gold is not just a commodity but is deeply linked to people’s emotions, social security and financial safety. “Yet, despite various policy initiatives over the years, the sector has failed to move fully into the formal economy.” Read More: NBR Chairman optimistic over resolving issues with IMF for loan tranches Recalling past reforms, the NBR Chairman said Bangladesh had gradually moved from an era of complete restrictions on gold imports to a formal import policy including reduced taxes and fixed duties for passenger-carried and commercial imports. Official records still show negligible formal gold imports despite the market being well supplied, he said. “This gap between records and reality is a major obstacle to establishing financial discipline, the rule of law and overall governance,” he said. Smuggling and informal practices harm not only revenue collection but also expose traders to serious financial and legal risks. Rejecting the argument that Bangladesh needs more time to establish discipline because it is a young country, he pointed to examples like Singapore, which prioritised the rule of law and discipline from the very beginning. Khan said NBR wants to move towards full, real-time transaction recording to eliminate suspicion on both sides. “We are ready to develop simple, sector-specific digital software for jewellery traders, especially small shops, so that real transactions are recorded and the real picture emerges,” he said. Once accounts are transparent and verifiable, the need for presumptive or turnover-based taxes will gradually disappear, allowing income tax to be assessed strictly on actual profits or losses. On import facilitation, the NBR chairman said greater openness and competition would help restore discipline. He assured that issues related to import licensing, LC opening and banking procedures could be taken up with Bangladesh Bank and the Ministry of Commerce, urging traders to submit formal proposals. He also reaffirmed the fundamental principle of duty drawback for exporters, stating that exporters are entitled to refunds of duties paid on imported raw materials used for exports. Any practical bottlenecks in audit or verification, he said, would be reviewed to ensure legitimate exporters are not deprived. Calling for collective responsibility, the NBR chief said discipline in the jewellery sector is essential not only for revenue but also to protect lives, livelihoods and future generations from the dangers associated with illegal trade.

The National Board of Revenue (NBR) has issued the Customs Clearing and Forwarding (C&F) Agent Licensing Regulations, 2026, aiming to improve service quality for importers and exporters by fostering a more competitive and transparent customs brokerage environment. The new regulations were promulgated through a gazette notification on January 8, 2026 (SRO No. 04-Ain/2026/Customs), repealing the Customs Agent Licensing Regulations, 2020, in line with the Customs Act, 2023. Until now, there was no standalone set of rules specifically governing the licensing of C&F agents. Licences had been issued under the broader Customs Agent Licensing Regulations, 2020. According to the NBR, the introduction of a separate and updated regulatory framework is intended to modernise operations, simplify procedures, and better reflect the evolving needs of customs clearance and forwarding activities. Officials said the new regulations are expected to enhance efficiency at customs stations, reduce administrative bottlenecks, and ensure improved compliance, ultimately benefiting businesses engaged in international trade. Mobile phone prices set to fall as NBR slashes import duty One of the most significant changes is the removal of the requirement for prior approval from the NBR to determine the number of C&F agent licences for a specific customs station.Under the new system, all candidates who pass the prescribed examination and are deemed eligible will be able to obtain a C&F agent licence, a move aimed at encouraging competition and expanding professional participation in the sector. The regulations also introduce a more structured and predictable licensing process. The NBR will conduct examinations on a regular basis, and the entire licensing process will be completed within a fixed timeframe each year. This is expected to reduce uncertainty for applicants and ensure timely availability of licensed agents in the market. Another notable provision addresses the issue of licence validity when a land customs station is declared closed. NBR sees growing use of e-returns by expatriate Bangladeshis Previously, licences issued for such stations would be cancelled. Under the new rules, C&F agent licences linked to a closed land customs station will no longer be automatically revoked. Instead, licence holders will be allowed to operate at any other functional customs station through an adjustment of jurisdiction, enabling continuity of business and protecting livelihoods. The NBR said these reforms reflect its commitment to facilitating trade, aligning customs procedures with modern practices, and supporting the government’s broader agenda of improving the ease of doing business in Bangladesh. NBR links ASYCUDA World with BGMEA e-UD system to modernise bond management Stakeholders in the import-export community have long demanded a clearer, more flexible licensing framework for C&F agents. The NBR, in a press release, believes the 2026 regulations will help professionalise the sector, ensure better service delivery, and contribute to smoother customs clearance operations across the country.