United News of Bangladesh

Stocks extended their losing streak for a second consecutive day on Tuesday, with the key index of the Dhaka Stock Exchange (DSE) falling by 46 points amid widespread sell-offs across sectors. After a brief stable opening, the market turned negative within the first hour and remained downbeat throughout the session.  At the end of the day, the DSEX dropped to 5,377 points from 5,423 in the previous session. The Shariah-based DSES index shed 10 points, while the blue-chip DS30 index fell by 23 points. Despite the overall decline, turnover at the DSE rose to Tk 787 crore, up from Tk 736 crore in the previous session. Of the 401 issues traded, prices increased for 85, declined for 282, and remained unchanged for 34. Prices fell across all categories — A, B and Z — with the A-category, which includes the market’s most fundamentally sound companies, seeing 138 losers against 67 gainers and 19 unchanged. In the block market, shares worth Tk 15 crore were traded across 34 companies, led by Envoy Textiles Ltd, which accounted for Tk 3.9 crore in transactions. First Security Islami Bank PLC topped the day’s gainers with a 10% rise, while Bangladesh Industrial Finance Company Ltd plunged over 8% to become the worst performer. The downtrend was mirrored at the Chittagong Stock Exchange (CSE), where the overall index dropped by 107 points. Out of the traded issues, 63 advanced, 136 declined, and 18 remained unchanged. The turnover at the CSE fell slightly to Tk 12.20 crore, compared to Tk 12.54 crore in the previous session. Pioneer Insurance Company Ltd gained 10% to top the gainers’ chart at the CSE, while Information Services Network Ltd lost over 9%, becoming the worst loser of the day.

Gold prices in Bangladesh have reached an unprecedented high, crossing the Tk 2 lakh mark per bhori (11.664 grams) for the first time, driven by continuous price surges in September and early October. On Monday night, the Bangladesh Jewellers Association (BAJUS) announced an increase of Tk 3,150 per bhori for 22-carat gold, setting the new rate at Tk 2,726 per bhori, the highest in the country’s history. The revised prices will take effect from Tuesday. According to BAJUS, the hike reflects a rise in the value of pure gold in the local market. The association’s Standing Committee on Pricing and Price Monitoring recalculated the rates to align with market trends. The new prices include the mandatory 5 percent VAT imposed by the government, as well as a 6 percent minimum wage determined by BAJUS. However, actual prices may vary depending on jewellery design and quality. Under the updated rates, gold in Bangladesh is priced as follows: *22-carat: Tk 2,726 per bhori*21-carat: Tk 1,91,605 per bhori*18-carat: Tk 1,64,229 per bhori*Traditional (Sanatani): Tk 1,36,445 per bhori BAJUS had previously set a record on October 4, when 22-carat gold rose by Tk 2,192 to Tk 1,97,576 per bhori. This year alone, the association has revised gold prices 61 times, including 43 increases and 18 decreases. The surge in domestic prices mirrors global trends, with international gold rates also hitting record levels, surpassing $3,900 per ounce for the first time. As gold continues its upward trajectory, consumers and investors alike are keeping a close eye on market developments, making this historic milestone a topic of widespread attention across Bangladesh.

The Bangladesh Bank (BB) has purchased an additional US$104 million from commercial banks through an auction to maintain stability in the foreign exchange market, raising the country’s foreign exchange reserves to $26.62 billion. The central bank bought the dollars at a rate of Tk 121.80 from eight commercial banks on Monday, said BB spokesperson and executive director Arif Hossain Khan. With this latest purchase, the central bank’s total acquisition through auctions in the current fiscal year has reached $1.98 billion. Economists and bank officials have described the move as ‘essential’ for stabilising the volatile dollar market. While a sharp rise in the dollar rate pushes up import costs, a steep fall can hurt remittance inflows and export earnings, he said. Officials said that purchasing dollars through auctions gives a slight advantage to remitters and exporters, supporting foreign currency earnings. At the same time, they said, the move is helping the central bank gradually rebuild its reserves. Bangladesh Bank officials indicated that dollar purchases through auctions will continue until the market reaches a stable balance between demand and supply.

Islami Bank Shareholders' Forum today (Monday) held nationwide human chains and protest rallies, including in front of the Islami Bank Tower in Dilkusha, Bangla Motor, Mirpur, Uttara of Dhaka, demanding the immediate removal of officials allegedly appointed illegally by S Alam. Simultaneous demonstrations were also held in front of every Islami Bank branch across the country. Speakers at the rally alleged that S Alam "illegally seized" Islami Bank in 2017 using state force and intimidated legitimate owners and foreign shareholders into leaving. Following the alleged takeover, he reportedly appointed thousands of "inefficient people" from the Patiya and Chattogram regions without any public notification, which the speakers claimed has destroyed the bank's reputation and skilled workforce structure. Forum leaders claimed that between 2017 and August 2024, a total of 7,224 individuals were illegally appointed to the bank, with over 4,500 of them hailing solely from Patiya Upazila. They further alleged that this practice broke bank discipline by favouring candidates from one district while depriving qualified candidates from the country's other 63 districts. According to the Shareholders’ Forum leaders, these alleged illegal appointments are costing the bank more than Tk 1,500 crore annually. In a move to assess their competence, bank authorities recently arranged an evaluation test for these officers through the Dhaka University's Institute of Business Administration (IBA) on September 27. However, out of the 5,385 officials called, 4,971 refused to sit for the examination. The protesting groups stated that those who defied the bank’s decision have been placed on ‘On Special Duty’ (OSD), and approximately 400 "rebel" officers have been terminated from service. Addressing the rally in front of the head office, speakers including Md Mohtasim Billah, Hafizur Rahman, Imam Hossain, and Mahmudul Hasan said the removal of illegally appointed individuals is not a violation of human rights. "The true violation of human rights is depriving candidates from 63 districts to favour a select few from a single part of Chattogram," a speaker stated.   They also alleged that S Alam's control led to the forced resignation of older, experienced bank officials through intimidation. An executive, speaking anonymously, claimed that several senior officers were arrested and presented in the media as criminals for refusing to sign "fake investment files." The protesters warned that if all illegally appointed officials are not removed by next Thursday, they will launch a larger, intensified movement. They called for the recruitment of honest, qualified, and talented candidates through rigorous verification to "save Islami Bank from the grip of mafias." Other groups, including the Islami Bank Customer Forum, Conscious Businessmen's Forum, Islami Bank Ex-Bankers Council, Anti-Discrimination Job Seekers' Council, Conscious Professionals Group, Islami Bank CBA, and Conscious Banker Society, joined the human chain in solidarity.

Bangladesh Bank (BB) has instructed all commercial banks to immediately sign agreements with 12 international asset recovery and law firms to launch a coordinated effort to repatriate money laundered allegedly by former prime minister Sheikh Hasina, her family members, and several major industrial groups. The directive was given on Monday during a meeting with managing directors of 32 commercial banks with Bangladesh Bank Governor Dr. Ahsan H. Mansur in chair, said Managing Director and CEO of Islami Bank Bangladesh PLC Omar Faruk Khan. All banks will engage the international law and asset recovery firms to trace and bring back the laundered money, he said. "Some banks will act as lead banks, forming consortia with others to sign agreements with these firms. Once finalised, we will assess how to repatriate and deposit the recovered money," he said. He added that the Criminal Investigation Department (CID) has already identified 11 industrial groups under investigation for money laundering including  Bashundhara , Nasa, and S Alam groups. "We will work with the asset recovery agencies under Non-Disclosure Agreements (NDAs). Some preliminary negotiations have begun," Faruk added. AB Bank managing director Mizanur Rahman  said the initiative represents a comprehensive effort in the entire banking sector involving multiple institutions. Pubali Bank Managing director Mohammad Ali said the central bank named the 12 international firms in the context of anti-money laundering efforts and directed banks to engage them for foreign asset recovery under NDAs. The list of individuals and entities allegedly involved in money laundering, a portion of which is believed to have benefited former Prime Minister and her family, includes former Land Minister Saifuzzaman Chowdhury's Aramit Group,S. Alam Group, Beximco, Bashundhara, Sikder Group, Nasa Group, Orion, Gemcon, Nabil, and Summit, among others. In a related move to strengthen regulatory oversight, the central bank recently established a new dedicated body called the Money Laundering and Terrorism Funding Prevention Department to enhance its ability to combat illicit financial flows. The central bank's action comes as four global organisations—the Stolen Asset Recovery (STAR) Initiative, International Anti-Corruption Coordination Centre (IACCC), US Department of Justice (DOJ), and International Centre for Asset Recovery (ICAR)—have reportedly already gathered key information and initiated legal processes related to the funds. Bangladesh's investigative agencies have so far traced an estimated Tk40,000 crore worth of assets built with laundered money, according to a recent statement from the CA Press Wing.

The country’s stock markets showed a mixed trend in the first half of Monday’s trading, with indices falling in Dhaka while gaining in Chattogram. During the first hour of trading, the key index of the Dhaka Stock Exchange (DSEX) dropped by 2 points, while the Shariah-based DSES and the blue-chip DS30 indices each gained 2 points. Most of the companies traded on the DSE saw a decline in share prices. Prices increased for 133 companies, fell for 182 and remained unchanged for 80 others. The total turnover on the DSE crossed Tk 380 crore in the first half of the session. DSE warns investors against dealings with Moshihor Securities over fraud Meanwhile, the overall index of the Chittagong Stock Exchange (CSE) rose by 26 points during the same period. Despite the index gain, most of the companies on the CSE witnessed a fall in prices — 57 advanced, 61 declined, and 21 remained unchanged. The turnover at the CSE stood at over Tk 4.40 crore in the first half of trading.

The inflow of remittances through formal banking channels increased in September compared to the previous two months, with Bangladesh receiving a total of USD 2.68 billion, according to data released by Bangladesh Bank. The central bank’s Monthly Workers’ Remittance Report for September shows that the highest inflow during the month was recorded in the second week — from September 7 to 13 — when expatriates sent USD 789 million through the banking system. The September figure marks the highest monthly remittance so far in the current fiscal year (FY2025–26). Earlier, Bangladesh received USD 2.47 billion in July and USD 2.42 billion in August. Remittance inflow also showed year-on-year growth, up from USD 2.40 billion in September 2024. The highest remittance inflow of 2025 was recorded in March, reaching USD 3.29 billion. Private commercial banks accounted for the majority of remittance receipts in September, handling USD 1.95 billion. Among them, Islami Bank Bangladesh PLC led the chart with USD 698 million. State-owned banks received USD 466 million, with Janata Bank topping the group at USD 170 million. Specialized banks received USD 258 million, while foreign commercial banks handled a modest USD 6.24 million in remittances. But, remittance inflows declined in the five banks undergoing merger processes. Among them, Social Islami Bank and EXIM Bank received USD 4.51 million and USD 1.14 million, respectively, while Union Bank, Global Islami Bank and First Security Islami Bank recorded inflows of below USD 1 million each. Two private commercial banks — ICB Islami Bank and Padma Bank PLC — received no remittance during the month. Among foreign commercial banks, all except Standard Chartered saw negligible inflows.

Indices at both the Dhaka and Chattogram stock exchanges witnessed an upward trend in the first hour of trading on Sunday, the first working day of the week, as most companies saw gains in their share prices. At the Dhaka Stock Exchange (DSE), the benchmark DSEX index rose by 43 points, while the Shariah-based DSES index gained 5 points and the blue-chip DS30 index advanced by 12 points. Out of 254 traded companies, share prices of 254 advanced, 63 declined and 62 remained unchanged during the first hour. Stocks rise at DSE, CSE as indices gain The turnover at the DSE exceeded Tk 160 crore. Similarly, the overall index at the Chittagong Stock Exchange (CSE) increased by 85 points. Among the 61 traded companies, the prices of 40 rose, 18 fell and 3 remained unchanged, with total turnover surpassing Tk 1 crore in the first hour of trading.    

Multimode Group, a leading business conglomerate, officially unveiled its new corporate logo and modernized website on Saturday. The event was graced by the presence of Multimode Group Chairman, prominent industrialist Abdul Awal Mintoo as the Chief Guest. The event was held at the group headquarters in Dhaka. Among others in attendance were the group Vice Chairman Nasreen Fatema Awal, Deputy CEO Tabith Awal, Director Tajwar M. Awal, and Director Tafsir Awal. Mahbub Anam, Managing Director of Lal Teer Seed Limited (a subsidiary of Multimode Group), along with employees and officials from different levels of the Multimode Group, were present at the function. The entire ceremony was broadcast live to two key locations of Multimode Group's subsidiaries: the Livestock Farm Office of Lal Teer Livestock, located in Uthura, Bhaluka, Mymensingh, and the Research and Development Center in Bashon, Joydebpur, Gazipur. During the event, the speakers highlighted the glorious history and progress of the Multimode Group. Senior officials also delivered inspirational speeches to motivate the employees and staff. The unveiling ceremony concluded with the cutting of a cake, marking the official end of the memorable day. Attendees expressed hope that the new logo and website would add a new dimension to the Multimode Group's branding and market identity, according to a press release.

Around 100 tonnes of hilsa were sold from Friday night to Saturday morning as a nightlong Hilsa fair was held under the Hashamdia Flyover in Bhanga municipality of Faridpur district. A huge crowd of buyers from nearby upazilas were seen in the fair as a 22-day nationwide ban on hilsa fishing began from Saturday midnight to protect mother hilsa during breeding season. The ban will remain in force until October 26. Despite limited supply, prices remained within buyers' reach, according to several customers and vendors. Some traders said there were more buyers than fish but the prices didn’t rise unfairly. Hilsa was being sold at prices Tk 100–200 lower per kg than regular market rates. One kg-sized Hilsa was priced between Tk 2,000 and Tk 2,200, 500-gram-sized Hilsa fetched Tk 800–1,000 per kg and 250-gram-sized Hilsa sold for Tk 550–600 per kg.Locals said the fair is held once a year on the eve of the government’s annual Hilsa conservation ban. Vendors including Naran Dutta, Haran Saha and Zakir Hossain said the overall supply was lower than last year but prices stayed relatively stable.