United News of Bangladesh

Bangladesh Bank on Sunday conducted some operational activities after the finance ministry tasked Deputy Governor Nurun Nahar to look after the routine work until a new governor is appointed. Four deputy governors and head of Bangladesh Financial Intelligence Unit (BFIU) also returned to the central bank. Nurun Nahar will look after the governor's daily work until the new governor is appointed, according to an official order signed by Deputy Secretary of the Financial Institution Division (FID) Afsana Bilkis on Sunday. Two days after the fall of Sheikh Hasina’s government the four deputy governors and the head of BFIU left their desks in the central bank in the face of protests on Wednesday. They are - Kazi Sayedur Rahman, Nurun Nahar, Khurshid Alam and Dr. Md. Habibur Rahman. Among them, Kazi Sayedur Rahman signed the resignation letter on a plain paper under the pressure of angry officials. BFIU chief Masud Biswas of deputy governor rank also left his office under pressure. Since BB Governor Abdur Rouf Talukder has stepped down, the deputy governors will carry out their daily activities in their respective fields from August 11 until the new governor joins.

Bangladesh Bank (BB) Governor Abdur Rouf Talukder has resigned. Rouf submitted his resignation to the Secretary of the Financial Institutions Division (FID) on Friday afternoon citing personal reasons. According to FID, the governor submitted his resignation letter at around 3pm on Friday to the FID secretary Abdur Rahman Khan. Rouf cited personal difficulties for his resignation. However, FID Secretary Abdur Rahman Khan did not comment on this issue. The mobile number of Rouf was found switched off. The Finance Advisor of the new interim government Dr. Salehuddin Ahmed was contacted, he said that he was not aware of the matter. Dr. Salehuddin called a meeting with the secretaries of four divisions under the Ministry of Finance. There the matter is likely to be discussed. Governor Abdur Rouf Talukder has not visited the BB since Sheikh Hasina resigned from the post of Prime Minister on August 5. He was not even in his residence Governor House. As per the rules, the governor is appointed by the FID of the Ministry of Finance with the consent of the Prime Minister or the Chief Adviser. As such, the governor has to resign through the FID. Abdur Rauf Talukder has therefore submitted his resignation letter to the FID.  

Nagad, the country's leading mobile financial service provider, has extended congratulations and best wishes to Nobel laureate and globally acclaimed economist Dr. Muhammad Yunus, on his appointment as Chief Adviser of the interim government during this critical time for the nation. The MFS provider also offered its greetings to all the advisers of the new government, according to a press release. Mohammad Aminul Haque, managing director of Nagad Digital Bank, said under the leadership of the legendary economist Professor Yunus, the youth-driven Bangladesh will move forward toward realizing its dreams. Bangladesh has witnessed a renaissance driven by the student and youth power. From the get-go, Nagad has considered youth as the main force behind its journey. It is at the behest of these young people that one of the world's most influential thinkers, Dr. Muhammad Yunus, has agreed to take responsibility for the country during this crisis. Expressing his good wishes to the Chief Adviser of the interim government, he stated, "We believe that Dr. Muhammad Yunus is the right person to harness the immense potential and youth of this country to move it forward. His leadership has already transformed the world. Now, we are fortunate that he has agreed to lead Bangladesh forward and has taken on this responsibility. I hope Nagad will also progress under his guidance." Professor Yunus has demonstrated not only to Bangladesh but to the entire world how the power of youth and collective strength can eradicate poverty. His efforts have significantly increased financial inclusion in Bangladesh. As an organization, Nagad is primarily focused on increasing financial inclusion to alleviate poverty. Upon returning from France, where he served as an adviser to the Paris Olympics, Professor Dr. Yunus said Bangladesh would advance by harnessing the power and revolution of the youth. Nagad is working in alignment with this visionary leader's path toward the similar dream. It is worth mentioning that Nagad has rapidly become the second-largest mobile financial service in the country. Now, Nagad is a family of 9.5 crore customers -- all of them also share the dream of a youth-driven new Bangladesh, read the release.

Unrest in Bangladesh continued for the second day on Thursday disrupting its normal operation. Protests by mid-level officials and employees of the central bank forced four deputy governors to resign on Wednesday. Governor Abdur Rouf Talukder remained absent from office since the fall of the Awami League government amid mass movement on Monday. The protesting officials want the AL government-appointed top officials to step down accusing them of aiding corruption and money laundering by pro-AL businesses. Rouf's whereabouts are unknown. On Wednesday, a group of officials stormed into the central bank headquarters demanding the resignation of the governor, four deputy governors, advisers and the head of the financial intelligence unit. The protesters said the top officials failed to ensure good governance in the banking sector. "We have no political motive," said one of them. Deputy Governor Kazi Sayedur Rahman resigned on Wednesday. After that, the officials assaulted him too. Later, angry officers-employees went to the offices of Deputy Governor Nurun Nahar, advisor Abu Farah Md Nasser and Bangladesh Financial Intelligence Unit (BFIU) head Md. Masud Biswas and pressured to resign. Agreeing to this, he apologized to everyone and left the central bank. When BFIU chief Masud agreed to resign, the officials threw him out of the central bank premises. At that time, the army members gave them security. The remaining two deputy governors Md. Khurshid Alam and Md. Habibur Rahman was not in the office. However, when the angry officials contacted them on phone, they said that they will resign and will not come to the office again. After that, the angry officials decided that Deputy Governor Nurun Nahar would maintain administrative works for a temporary period.

After the fall of the government, private sector Islami bank has prevented withdrawal of Tk 2000 crore through cheques of different ‘suspicious companies’. On Tuesday and Wednesday, Islami Bank PLC blocked withdrawal of these amount. On Tuesday, the bank blocked the withdrawal of Tk900 crore in one day. Two companies - Golden Star and Top Ten Trading House- were trying to withdraw this money. On Wednesday, the bank also rejected cheques of different companies of S Alam Group  for withdrawal of Tk1100 crore. A top official of the bank said that both the institutions are related to the bank's owners. And they have prevented the withdrawal of money due to the change of government. They ‘deprived’ officials of the bank have been demanding the resignation of the beneficiary officials as well as the removal of the officials who joined in the last seven years. At one stage they created pressure on the bank's Additional Managing Director (AMD) Muhammad Qaisar Ali to resign. Later he submitted resignation to MD and left the bank with the help of the army.    

The interim government, headed by Nobel laureate Dr. Muhammad Yunus, is set to take oath this evening. For security concerns, in the absence of a government, Bangladesh Bank has set a limit of withdrawing Tk 1 lakh only from a single account from banks. The bank's managing directors gave this instruction in an urgent message on Wednesday night. As per the guidelines, even if a customer cannot withdraw cash, they can transfer any amount of money and do digital transactions. After the fall of the Awami League government, the pressure of cash withdrawal increased slightly. There is especially pressure to withdraw cash from Awami League politicians and business families. The central bank has decided to discourage the withdrawal of cash so that these funds are not used in any way for terrorist or illegal activities. In continuation of this, Bangladesh Bank announced this decision last night. Apart from this, Bangladesh Bank has ordered to stop disbursement of money from the head office to the branches for today (Thursday). It is also advised to encourage customers to pay by cheques.  

Executives appointed after the takeover of Islami Bank in 2017 will not be allowed to enter the bank. “These executive officers are appointed under the patronage of Sheikh Hasina under the direction of S Alam Group. The rules of appointment were not followed to appoint those executives,” said a top official of Islami Bank. The Certified Bank Auditors of the bank gathered in front of Islami Bank's Motijheel head office and made such a demand. CBA leader of Islami Bank Anisur Rahman said that the occupied Islami Bank will return very soon. As many executives who came after 2017, they will not be able to enter this bank. It is supported by the managing director of Islami Bank. From 2017 onwards all illegal non-examination recruitments will be cancelled. At the same time, those who have been illegally terminated will be reinstated. Those who have been deprived of promotion in the last seven years will be given back their proper promotion. Head SAVP of Islami Bank's operation wing Kamal Uddin Jasim said, “We got second freedom through students. With wisdom, we must pick up this achievement." He said, “We have talked with the MD, and we have already started the work of canceling all illegal appointments since 2017.” On the other hand, the management of Islami Bank Bangladesh PLC, on Tuesday (6 August) expressed condolence for the martyred of the anti-discrimination student movement since its beginning. Besides, they expressed sincere sympathy to the bereaved families of the martyred. Special dua and munajat were organized at the bank’s head office, 16 zone offices, 395 branches, all sub-branches, and agent banking outlets for the salvation of the souls of the martyrs and quick recovery of the injured during this movement.

Trade between Bangladesh and India through Benapole Port has been halted since Monday morning, citing security concerns. No goods have been exported from India to Bangladesh since Monday morning, nor have any trucks entered Bangladesh from India or vice versa. Cargo handling at the port has also been suspended. Users of Benapole Port reported that trade between Bangladesh and India through the port has come to a standstill. The disruption began after Sheikh Hasina's resignation and subsequent departure from the country on Monday afternoon. As most of the cargo handling contractors and labour leaders are supporters of the Awami League, they withdrew from the port, effectively stopping all cargo operations. This has resulted in nearly two thousand goods-laden trucks being stranded at Benapole-Petrapole. On average, 400-450 trucks import goods and 200-250 trucks export goods through this port daily. The stranded goods primarily consist of industrial raw materials, chemicals, machinery, and some perishable items, leading to significant financial losses for traders. They have called for the immediate resumption of import-export activities to mitigate these losses. Sajedur Rahman, General Secretary of the Benapole C&F Agent Staff Association, stated that over fifteen hundred trucks loaded with goods are stuck at Benapole and Petrapole due to the suspension of import-export activities amid security concerns. He mentioned that they have held meetings with various stakeholders and are hopeful that operations will resume soon. Rezaul Karim, Director of Benapole Land Port, confirmed that import-export activities between Bangladesh and India were halted from Monday morning due to security concerns. Discussions have been held with the Petrapole Port Manager, and they are hopeful that trade operations will restart shortly.

Bangladesh received US $1.9 billion as remittance in July, which shows a decrease by 24.87 percent compared to previous month June. The expatriates sent a record remittance of $2.51 billion in June ahead of Eid-ul-Azha. Compared to June the remittance inflow decreased by 24.87 percent in July this year. In July last year (2023) expatriates sent $1.97 billion remittance in the country. This information was revealed in the updated report of the Bangladesh Bank (BB). In the first 18 days of July, an average of $79 million in remittances came daily, but from 19 to 24 July, a total of $78 million came in six days. On July 31, the expatriates sent $120 million in remittance, which the highest in a sing day remittance flow, according to the central bank. Md. Mezbaul Haque, Executive Director and Spokesperson of BB, said that expatriates sent $1.9 billion to the country in July. Reviewing the data of the central bank found that the lowest remittance in the first 7 months of this year (2024) came in July. In this month, Bangladesh received remittances of $1.9 billion. Before this, remittances received $2.11 billion in January and $2.16 billion in February. In March expatriates sent $1.99 billion in remittance, in April $2.04 billion, in May $2.25 billion.  

US-Bangla Airlines has started direct flights to Jeddah, Saudi Arabia, the gateway to the holy city of the Muslim Ummah. Minister of Civil Aviation and Tourism Mr. Muhammad Faruk Khan on Thursday officially announced the inauguration of Dhaka-Jeddah flight at Pan Pacific Sonargaon Hotel in Dhaka, om Dhaka to Jeddah with 436-seat Airbus 330-300 every day of the week. The flights will depart from Dhaka daily at 5:15 pm for Jeddah and land in Jeddah at 9:10 pm local time. It will again leave from Jeddah at 11:10 pm and land at Dhaka's Hazrat Shahjalal International Airport at 8:55 am. However, today's flight departed at 5:35pm with full passengers. The minimum fare from Dhaka to Jeddah including tax and surcharge is Tk 53,189 one way and Tk 90,718 return fare. Besides, the minimum one-way fare from Jeddah to Dhaka is 793 Saudi Riyals and the return fare is 1,486 Saudi Riyals. Passengers from Dhaka will be able to carry free baggage up to 30 kg to Jeddah and 50 kg from Jeddah to Dhaka.