United News of Bangladesh

US-Bangla Institute of Aviation (UIA), the aircraft engineering and maintenance training center of US-Bangla Airlines, has received approval as a CAAB (Airworthiness) Part 147 Approved Maintenance Training Organization. This approval allows UIA to offer both theoretical and practical training for B1 and B2 type ratings on ATR 72-600 and Boeing 737-600/700/800/900 aircraft, said a press release on Thursday. US-Bangla Airlines began its operations in 2014 with two Bombardier Dash-8 Q400 aircraft on domestic routes. Over the years, the airline has gained the trust of the people of Bangladesh by expanding its fleet to include ATR 72-600, Boeing 737-800, and most recently, the Airbus 330-300, successfully operating across domestic, regional, and international destinations. Since its inception, US-Bangla Airlines has prioritized the training of its workforce, recognizing the importance of skilled employees in sustaining its growing business success. Aviation training, particularly type training, is a costly endeavor that typically requires significant foreign currency reserves due to the need for training abroad, said the release. For many talented young individuals in Bangladesh aspiring to build a career in aviation engineering, expensive foreign training was the only option. However, with UIA’s recent approval, US-Bangla’s engineering staff can now receive this training within the country. Additionally, interested candidates from other airlines will have the opportunity to participate in these certified courses at a nominal fee in Bangladesh.

The price of Hilsa has increased by Tk 200 to 250 per Kilogram (Kg) in Chandpur after the government decided to export Hilsa to India, causing frustration among local consumers. At present on average about 1,000 to 1,200 maunds (1 maund = approx. 38 kg) of Hilsa are landing daily at the Chandpur Fish Landing Center (Big Station Fish Wharf), but the price hike has left many disappointed.  Just a few days ago, the price ranged from Tk 1600 to 1650 per kg. Today it is Tk 1800 to Tk 1850 per kg. This increase is largely attributed to reports of exports to India. The Hilsa fish comes from various water bodies, including the Padma and Meghna rivers, as well as areas like Bhola, Hatiya, Charfession, Ramgati, and Lakshmipur. These fish are transported by trawlers and trucks to various locations, including Kawran Bazar and Uttara in the capital, and northern Bangladesh. According to fish traders such as Amri Hossain Shakha, Ismail Bapari, and others who spoke to UNB at the Chandpur Fish Landing Center , the supply from the Padma and Meghna rivers is notably low  this season, with only 40 to 50 maunds being caught daily. They indicated that the overall supply is insufficient to meet demand. At retail level in Chandpur, a small hilsa weighing just over 1 kg(around 1.1 to 1.2 kg) would cost you upwards of Tk 2000. Last year, the daily supply was much higher, reaching nearly 3,000 maunds during this period, according to traders like Nurul Islam Bakul and Didar Khan. Many locals believe the price increase is due to news of exports to India, while reports indicate that fewer fish are being caught in the rivers this year. Environmental issues, such as river pollution, have also been cited as contributing factors. Residents are expressing their disappointment, stating that they can no longer afford to buy ilish. One elderly woman, Marufa Begum, lamented, “I thought I could eat small ilish this time, but I can’t. The government is sending fish to India, and we can’t afford it anymore.” Overall, the price increases and reduced supply have left consumers frustrated, with many calling on the government to address the situation.

Workers from three factories in Gazipur staged protests on Monday, demanding higher wages and benefits, leading to blockades of the Dhaka-Mymensingh and Dhaka-Tangail highways for nearly an hour. Protests erupted at Golden Refits Garments Limited in Bhager Bazar, Cocola Food Products in Kaliakoir, and Seasons Dresses Limited in Tongi, with workers voicing concerns over issues ranging from attendance bonuses to unpaid wages. At Golden Refits Garments, located in Gazipur’s Sadar upazila, workers refused to start their shifts, demanding improvements in attendance bonuses and pushing for 12 specific demands. To draw attention to their grievances, they blocked the Dhaka-Mymensingh highway in the morning. The factory management eventually conceded to eight of the workers' demands, including increases in attendance bonuses, meal allowances, and night shift pay. Suman Mia, an inspector with Gazipur’s Industrial Police, confirmed the blockade had caused significant traffic congestion. He noted that negotiations between management and workers are ongoing to address the remaining issues and prevent further disruptions. Workers at Cocola Food Products in the Mouchak area protested outside the factory following management's decision to shut down operations indefinitely. The closure came after employees presented 12 demands, including attendance bonuses and annual leave. Tensions escalated as some workers forcefully entered the facility and vandalized property. The protest spilled onto the Dhaka-Tangail highway, briefly blocking traffic. Joint forces arrived to disperse the protesters and arrested three individuals for inciting violence and damaging factory property. Meanwhile, workers at Seasons Dresses Limited in Tongi took to the streets, demanding unpaid salaries for July and August. Starting as a small demonstration around 7 am, the protest grew into a full blockade of the Dhaka-Mymensingh highway by 9:30 am. The traffic halt continued for hours, causing widespread disruption. Mosharraf Hossain, Senior Assistant Superintendent of Gazipur’s Industrial Police, said that efforts are underway to open dialogue between the workers and the factory owners to resolve the wage issues. As of 12:30 pm, traffic on the Dhaka-Mymensingh highway remained at a standstill.

Bangladesh Institute of Islamic Finance (BIIF) holds a three-day training program for banking and insurance professionals on Bancassurance and Bancatakaful. Mohammed Abdul Mannan, Chairman, of First Security Islami Bank PLC and Vice Chairman, of Bangladesh Associations of Banks (BAB) opened the training course as the chief guest. Dr. M Abdul Aziz, Founder Director of BIIF, presided over the event M M Monirul Alam, Managing Director and CEO of Bengal Islami Life Insurance Limited; Dr. Md. Golzare Nabi, Director (Research), Bangladesh Bank; Humaira Parveen Runi, Head of Islamic Banking Division of IFIC Bank PLC and Dr KM Zakir Hossain Shalim Al Azhari, Assistant Professor and Academic Coordinator of BIIF  attended the program. Over two dozen participants are participating in the training course dominated by four banks and three insurances. BIIF, an independent research and training institute, was established aiming to produce the expected professionals. The BIIF is accredited by the Institute of Islamic Banking and Insurance (IIBI), London.

In response to a “special request” from India for the Durga Puja festival, the Ministry of Commerce has granted permission for the export of Hilsa fish, said Farida Akhter, adviser to the Ministry of Fisheries and Livestock on Sunday. Speaking to reporters at the ministry, she clarified that the decision was made independently by the Ministry of Commerce in light of India’s request. "The Ministry of Commerce has approved this export based on a specific request for Durga Puja. While they have acted on this request, I can’t impose any decision on them," she said. The adviser further explained that the approval came from the Commerce Ministry, and that the Fisheries and Livestock Ministry has no direct involvement in this matter. "Our commitment remains strong to ensure that Hilsa fish remains available for the people of Bangladesh." When asked if rising prices would discourage exports, she noted that if prices increase, they would certainly need to take action regarding that issue. Responding to another question, she emphasized that it is not her responsibility to halt exports. "I can make a request, but I cannot enforce a ban," she said, reiterating that the authority to make decisions regarding exports or imports lies with the Ministry of Commerce.

Liquidity support from Bangladesh Bank alone may not be enough to stabilize struggling banks, prompting calls for immediate action to facilitate liquidity transfers from stronger banks to weaker ones, according to financial experts. Speaking to UNB last night, the chairman of a newly appointed private bank board expressed concern over the worsening liquidity crisis. "Clients of some weak banks are in urgent need of cash for their families, but these banks are unable to meet the demand due to a severe liquidity shortage," he said. Bangladesh Bank Governor Dr. Ahsan H. Mansur acknowledged the crisis, explaining that the central bank is actively working on providing liquidity support to banks facing difficulties. However, he urged depositors to remain calm. "People should not panic. The central bank and the government are doing everything possible to protect depositors' interests. Money will be returned gradually as needed," Dr. Mansur told UNB. Despite these reassurances, a significant number of clients are crowding branches of the affected banks, attempting to withdraw their funds. To address this, Bangladesh Bank has stepped in to offer liquidity support to these institutions. The central bank plans to stabilize the situation before initiating reforms within these banks. The crisis is rooted in irregularities and corruption during the tenure of the previous government. Several banks weakened under the mismanagement of their boards of directors, many of which were recently replaced. These banks will now receive liquidity assistance against guarantees from the central bank, with stronger banks providing the necessary funds. Since the change in government, Bangladesh Bank has moved away from propping up failing banks by printing money, as was previously done. Instead, the regulator has finalized a policy to offer liquidity support through special arrangements. According to Bangladesh Bank officials, past avenues for siphoning off funds from these banks have been blocked, but small depositors continue to panic, leading to large-scale withdrawals. “If this continues, even strong banks could be affected,” warned a central bank official. “Liquidity assistance is being provided to alleviate the immediate pressure, and after that, we will focus on restructuring these banks. If a bank cannot recover, we may pursue mergers.” Under the leadership of the new governor, the boards of directors for 11 banks and one financial institution have been dissolved. The banks include Islami Bank, Social Islami Bank, First Security Islami, Union Bank, Global Islami Bank, Bangladesh Commerce Bank, Al-Arafah Islami, National Bank, UCB, IFIC Bank, Exim Bank, and Aviva Finance, a financial institution. Nine of these were controlled by the S Alam Group, a business conglomerate with close ties to the previous government. Following the reshuffling of these banks' boards, depositors—both large and small—have flocked to withdraw their money, further straining liquidity. This panic has led to severe cash shortages, with many clients unable to access their funds. In some cases, cheque clearing facilities have been suspended due to deficits in current accounts, and customers are also reporting difficulties withdrawing cash from ATMs.

REVOO, a leading electric motorcycle brand, has officially entered the Bangladesh market. Already recognized as the top electric motorcycle brand in Africa, REVOO’s expansion into Bangladesh marks its entry into a sixth country, following successful launches in markets such as Pakistan, according to a press release on Thursday. As the world shifts towards greener and smarter transportation, electric vehicles (EVs) are emerging as a key solution. Electric two-wheelers, in particular, offer a more sustainable and cost-effective alternative to traditional internal combustion engine (ICE) motorcycles. Along with reduced operating costs, EVs come equipped with advanced smart technologies that enhance the riding experience while contributing to a cleaner environment. With this launch, REVOO introduces two brand-new electric motorcycle models to Bangladesh: the A01 and the C03. These models aim to transform commuting by providing eco-friendly, sustainable transport options. Revoo A01 The A01 is designed for everyday commuters seeking a reliable and safe electric motorcycle. Equipped with a 60V 21Ah battery and a 1000W motor, it offers a top speed of 45 km/h, making it perfect for city travel. Its 12-tube, 30A vector-based controller ensures optimized performance, while its design balances practicality with style. Available in Battleship Grey, Metallic Black, and Pearl Red, the A01 features front disc brakes, rear drum brakes, and hydraulic suspension for smooth rides. It also includes a remote-control anti-theft system for added security. Revoo C03 The C03 is designed for performance enthusiasts, powered by a 72V 35Ah battery and a 2000W motor. It features a version 2 of the 12-tube, 30A vector-based controller and a Combined Braking System (CBS), ensuring enhanced safety and control. With 12-inch vacuum tires and disc brakes on both ends, the C03 offers precise handling across various terrains. Available in Metallic Black and Battleship Grey, this luxury motorcycle is expected to turn heads on Bangladesh’s roads. Both models are equipped with high-life-cycle batteries and advanced technology, offering longer rides and smarter security with remote-control anti-theft systems. REVOO’s electric motorcycles cater to the growing demand for eco-friendly and smart commuting options, combining efficiency, style, and safety. The REVOO A01 and C03 are now available at leading electric vehicle dealers across Bangladesh.

Singapore's Suspicious Transaction Reporting Office (STRO), the financial intelligence unit, has requested detailed information on the assets of the much-talked-about S Alam Group, both in Bangladesh and abroad. This move comes amid growing scrutiny of the Chattogram-based conglomerate, which has been at the center of multiple controversies. According to an official from the Bangladesh Financial Intelligence Unit (BFIU), who spoke on the condition of anonymity, the request was made through an email from Singapore's Financial Intelligence Unit. "We are preparing the details of the S Alam Group and are ready to send this information to STRO," the official confirmed. The inquiry follows recent media reports alleging that the S Alam Group has significant undisclosed overseas assets, including holdings in Singapore. The conglomerate, which once held control over six banks and a financial institution in Bangladesh, has come under increasing investigation after the fall of the Sheikh Hasina-led government on August 5, following mass protests. In the wake of the regime change, Bangladesh Bank swiftly reconstituted the boards of the banks previously controlled by S Alam Group. However, the group faces serious allegations, including claims that approximately Tk 1.13 lakh crore was siphoned off from these banks through forged documents. The Bangladesh government, central bank, BFIU, and the Bangladesh Securities and Exchange Commission (BSEC) have since launched a coordinated crackdown on S Alam Group. The authorities have frozen personal accounts of the group's owners, and banks have restricted their transactions with the company. Despite these measures, S Alam Group is seeking relief. On September 12, the conglomerate made a formal plea to the government and the central bank for financial, social, and legal assistance in an effort to lift the freeze on their accounts and restore normal operations.

The value of the US dollar has decreased in Bangladesh’s kerb (open) market due to a drop in demand and an increase in supply. Currently, the dollar is being sold at Tk 121-122 in the kerb market, down from Tk 125 just three weeks ago, according to traders and money changers dealing in foreign currency. They attributed the drop to reduced demand for foreign travel following the political changes in the country on August 5, as well as an increased flow of dollars into the open market. These two factors have driven the exchange rate lower. Travelers, who typically buy foreign currency from the kerb market, have contributed to the decrease in demand.

Bangladesh Bank has mandated that directors of all banks must now attend board meetings in person, officially ending the “hybrid” meeting model that allowed virtual participation during the pandemic. The central bank issued this directive through its Banking Regulations and Policy Department on Wednesday, instructing the top executives of all banks to implement the changes immediately. During the COVID-19 pandemic, a hybrid model had been introduced to facilitate remote participation in board and subsidiary committee meetings. However, the new instruction cancels that allowance, citing the significant reduction in the pandemic’s impact. According to the new directive, the only exception is for foreign directors in banks that are not fully owned by Bangladeshi entities. These individuals may still attend meetings online. Banking sector insiders noted that this decision could pose challenges for certain Awami League-affiliated directors, including former ministers, MPs, and public representatives, many of whom are currently abroad. With the new regulation, these individuals will no longer be able to participate remotely from overseas or undisclosed locations.