United News of Bangladesh

Banks and non-bank financial institutions will maintain new office time during the holy month of Ramadan. Bangladesh Bank has announced a new schedule for inter-bank cheque settlement for clearing house transactions during this time. On Wednesday, the Payment Systems Department (PSD) of Bangladesh Bank issued a notification in this regard. According to this, the operating schedule of the three transaction platforms established at Bangladesh Bank—Real Time Gross Settlement (RTGS), Automated Cheque Clearance House (BACH), and Bangladesh Electronic Funds Transfer Network (BEFTN)—has been changed. DSE announces new trading hours for Ramadan Through these services, money is paid and automatic cheque settlement is done from one branch to another or a customer of another bank. High-value cheques (more than Tk 5 lakh) and regular-value cheques (less than Tk 5 lakh) are settled through BACH. “High-value cheques should be sent by 11:30 am for clearing during the month of Ramadan. These will be settled by 1:30 pm. Any regular value cheques will have to be sent to the clearing house by 12:30 pm. These cheques will be settled by 3:00 pm,” according to the notification. RTGS transactions will be from 9:30 am to 3:45 pm. However, customers will have to make transactions from 9:30 am to 2:30 pm, customs duty e-payments until 3:30 pm and interbank fund transfer and return transactions can be paid through RTGS until 3:45 pm. Govt reschedules office timing for Ramadan In addition, the instructions stated that the BEFTN service would continue as before. After the month of Ramadan, the transaction schedule of BACH and RTGS will continue as during regular time.

The Dhaka Stock Exchange (DSE) witnessed record-high trading activity on the third trading day (Tuesday) of the week. For the first time this year, transactions surpassed Tk 600 crore, marking the highest level in the past three and a half months. On Sunday, shares and units worth Tk 602 crore were traded on the DSE. The last time transactions exceeded this figure was on 6 November 2024, when the exchange recorded Tk 650 crore in trades. Alongside the surge in trading volume, all major DSE indices showed upward movement. The benchmark index, DSEX, climbed by 32 points, while the Shariah-based DSES increased by 6 points and the blue-chip index DS30 gained 3 points. Vibrant Stock Market: Over Tk 300 crore traded in two hours Out of 396 participating companies, the share prices of 196 rose, 156 declined and 44 remained unchanged. In the 'A' category, most companies saw an increase in their share prices. But in the 'B' category, 79 companies traded, with 30 witnessing price gains, 43 experiencing declines, and 6 remaining unchanged. Similarly, in the 'Z' category, out of 99 companies, 43 recorded price hikes, 42 faced losses and 14 remained stable. Among the 37 mutual funds traded, 13 saw price increases, 10 experienced declines and 14 remained unchanged. Stock market rises, turnover surpasses Tk 500 crore again In the block market, 91 lakh shares from 32 companies were sold for Tk 16.5 crore. Al-Arafah Islami Bank dominated this segment, selling 17 lakh shares for Tk 3.14 crore—the highest in this category. Bashundhara Paper Mills Limited topped the gainers' list with a 9.90% price increase, while Khulna Printing & Packaging Limited suffered the steepest decline, losing 8.16%. CSE Also Witnesses Uptrend Similar to the DSE, the Chittagong Stock Exchange (CSE) also experienced an upward trend, with its overall index rising by 135 points. Of the 236 companies traded, 129 saw price increases, 82 recorded losses, and 25 remained unchanged. The CSE recorded a total trading volume of Tk 13 crore, a decline from the previous day's Tk 31 crore. Aramit Cement Limited led the gainers on the CSE with a 10% price increase, while Khulna Printing & Packaging Limited also faced the sharpest decline here, dropping by 9.72%, similar to its performance in the DSE.  

The bullish trend in the Dhaka stock market continues for the third consecutive day, with indices rising and trading volume surging. In the first two hours of trading on Tuesday, the turnover at the Dhaka Stock Exchange (DSE) surpassed Tk 300 crore as investors actively traded shares and units. The DSE's benchmark index, DSEX, gained 47 points, while the other two indices—DSES and DS30, which track the Shariah-compliant stocks and blue-chip companies, respectively—each increased by 10 points. Most of the listed companies witnessed a price increase, with 230 companies registering gains. In contrast, 109 companies saw a decline in their stock prices, while 53 remained unchanged. Similar to Dhaka, the Chittagong Stock Exchange (CSE) also experienced a lively session, although its overall index declined by 102 points in the first two hours of trading. Weekly Review: DSE plunges as investor confidence wanes; key sectors hit hard Out of the 157 companies that participated in trading on the CSE, 87 recorded price gains, 51 saw declines, and 19 remained unchanged. The total turnover in the CSE during this period stood at Tk 8.8 crore. Market analysts attribute the ongoing bullish trend to increased investor confidence, buoyed by positive economic indicators and policy support from regulators. They anticipate that the market will maintain its upward momentum if the current investor sentiment persists.

The proposed targets of the draft Renewable Energy (RE) Policy 2025 will fail to ensure the country’s energy security, according to experts. Instead, the policy is expected to increase reliance on fossil fuels, enable higher corporate profits, and impose greater financial burdens on citizens. Coastal Livelihood and Environmental Action Network (CLEAN), a non-governmental organization, raised these concerns during a press conference held at a hotel in the capital on Sunday. Consultants from the Sustainable and Renewable Energy Development Authority (SREDA) prepared the draft policy via a consulting firm before submitting it to the Ministry of Power, Energy, and Mineral Resources. Hasan Mehedi, Chief Executive of CLEAN, said, “Bangladesh faces a persistent lack of coordination in formulating renewable energy policies, leading to stagnation in the sector and heightened dependence on expensive imported fossil fuels.” He highlighted that the government took over four years to draft the policy, reflecting the absence of a comprehensive energy and power master plan. “This lack of a long-term roadmap complicates decision-making. Moreover, allowing merely 21 days for civil society and expert feedback on the draft policy is an insufficient timeframe,” he added. Mehedi noted that the draft policy sets unrealistically low renewable energy targets—6,145 MW (20%) by 2030 and 17,470 MW (30%) by 2041—without a clear decarbonization strategy. It also omits a green taxonomy, a feature integrated into frameworks of many nations. Additionally, the policy lacks inter-ministerial coordination plans, implementation strategies, and financing roadmaps for renewable energy. He criticized the disparity in incentives: “While companies implementing renewable energy projects receive full tax exemptions for 10 years and partial exemptions for five years, ordinary citizens are granted no tax benefits. Other nations offer up to 30% subsidies for rooftop solar installations, but this draft ignores such provisions.” Khondaker Golam Moazzem, Research Director at the Centre for Policy Dialogue (CPD), remarked, “The government’s hurried approach has resulted in an incomplete and superficial policy. Expanding renewables within a fossil fuel-dominated economy is impractical.” He also emphasized the policy’s failure to address the critical need for foreign direct investment (FDI). Bareesh Hasan Chowdhury, Coordinator of Friends of the Earth Asia Pacific, said, “While most countries have adopted net-zero targets, Bangladesh has yet to establish such a goal.” Shahriar Ahmed Chowdhury, Director of the Center for Energy Research, observed, “Bangladesh lags behind nations like China, India, Pakistan, and Vietnam in renewable progress. The sector remains neglected as the country continues to prioritize fossil fuel interests.” 

National Board of Revenue (NBR) chairman Md Abdur Rahman Khan on Sunday categorically said his organisation will not hesitate to take any decision for the benefit for the country. “We are moving towards that direction,” he said, while holding pre-budget discussion with the Newspapers Owners’ Association of Bangladesh (NOAB) at NBR. He mentioned that there are three reasons behind the lower tax-GDP ratio in the country. These are: huge number of tax exemptions and its misuses, short tax net for income tax and Value Added Tax (VAT) and operational inefficiency. No VAT on purchases at supershops: NBR The revenue collecting chief said that due to the tax exemption culture, the NBR gives away the same amount of money that it collects by taxation. “We do not want to incur tax expenditure freshly,” he said. Abdur Rahman Khan said that if anyone makes small profit then that person  will give lower tax, that is the main ethos of the tax administration. He also said that due to the lack of automation, the NBR is still doing many of its duties manually. Single-window digital trade hits a milestone: NBR While placing a budget proposal for the NOAB, its president AK Azad demanded reducing import duty on newsprint to two percent, imposing VAT at 5 percent instead of 15 percent and write off corporate tax or make it nominal on newspaper industry considering it as a service industry. Prothom Alo Editor Matiur Rahman and Financial Express Editor Shamsul Huq Zahid also spoke.

Experts and stakeholders at a discussion meeting on Sunday demanded the immediate removal of Bangladesh Securities and Exchange Commission (BSEC) Chairman Khondoker Rashed Maqsood, holding him responsible for a series of wrong decisions that have resulted in significant losses for small investors. They said investors at the Dhaka Stock Exchange have collectively lost around Tk 70,000 crore over the past six months due to the chairman’s mismanagement. Bangladesh Capital Market Investors’ Association (BCMIA) arranged the discussion meeting at the Jatiya Press Club in the capital. Former BSEC chairman Shibli Rubaiyat sent to jail Gono Odhikar Parishad President Md Nurul Haque Nuru, AB Party Secretary Barrister Asaduzzaman Fuad, former Central Vice President of Jatiyatabadi Chhatra Dal Md Mamun Khan, journalist Fazlul Bari, and investors Zaimul Haque and Abu Bakar Siddique, among others, spoke at the event with BCMIA President SM Iqbal Hossain in the chair. Nuru alleged that associates of the previous autocratic government are still holding key positions in the interim government, preventing it from functioning in the best interests of people. He pointed out that Finance Adviser Dr Salehuddin Ahmed himself has acknowledged BSEC’s failures. “Despite this, Maqsood remains in office,” Nuru said, announcing his support for BCMIA’s movement to remove the BSEC chairman and other corrupt officials from both BSEC and the Dhaka Stock Exchange (DSE). Ex-BSEC Chairman Shibli Rubayat arrested in Dhaka Barrister Fuad also called for the resignation of the BSEC chairman and board members, stating that they had failed to reform the market and protect investors' interests. He also demanded that investor representatives be included in the BSEC board in proportion to other institutional members. BCMIA President SM Iqbal Hossain said the country’s capital market has been in crisis for the past 17 years. “While stock markets in other South Asian countries have seen growth, our market regulator’s poor decisions have left investors frustrated,” he said. He said that many investors had lost 60–80% of their capital due to repeated policy failures by BSEC. He also criticised the decision to change a company’s status to the Z-category for failing to provide dividends, arguing that such policies punish investors instead of the company. The BCMIA will submit a memorandum to the finance adviser on Monday, outlining seven demands, including the resignation of the BSEC chairman.  

The first trading session of the week saw an upward trend in Dhaka's stock market, with all major indices posting gains, but trading in Chattogram started with a decline. On Sunday, the Dhaka Stock Exchange (DSE) observed a rise in its key index, the DSEX, which gained 13 points. Among the other indices, the Shariah-compliant DSES recorded a marginal increase, while the selective blue-chip index rose by 5 points. During the first two hours of trading, the share prices of most listed companies surged. A total of 245 companies saw their stock prices rise, while 87 companies experienced a decline and 56 remained unchanged. At the beginning of the session, the trading turnover at the DSE surpassed Tk 190 crore. On the other hand, the Chattogram Stock Exchange (CSE) experienced a downturn, with its overall index decreasing by 5 points. DSE opens lower, CSE sees early gains Despite the decline in the index, the share prices of a majority of the listed companies increased. Out of the 102 companies traded at the CSE, 55 witnessed price appreciation, 29 saw a decline, and 18 remained unchanged. During the first two hours of trading, the turnover at the CSE exceeded Tk 2 crore.

Gold prices have reached a historic peak in Bangladesh, with the Bangladesh Jewellers Association (Bajus) raising the price of 22-carat gold by Tk 3,243 per bhori in its latest listing.  The new price now stands at Tk 154,524 per bhori, marking the highest cost ever recorded in the country’s history. The new rates will come into effect on Friday (Feb 21), according to a press release issued on Thursday. Next government should continue financial sector reform and return laundered money, to get benefits: Dr. Ahsan H. Mansur This price adjustment applies to 22-carat gold, which now costs Tk 154,524 per bhori (11.664 grams). Besides, 21-carat gold is priced at Tk 147,502, while 18-carat gold will cost Tk 126,426. The traditional gold variety has seen its price set at Tk 104,206 per bhori. Could gold prices in Bangladesh reach Tk 2 lakh per bhori? Bajus has also said that the final retail price of gold must include a mandatory 5% VAT, as imposed by the government, as well as a 6% minimum labour charge set by the association. However, the total labour charge may vary depending on the design and quality of the jewellery.

A record number of 1,723 new business entities received VAT registration in a single day on Wednesday. Out of these, 46 are in the manufacturing category, 862 are service recipients, 500 are retailers and wholesalers, 29 are importers, 9 are exporters, and 277 are other organizations, according to a press release from NBR. This is a new record during the current government as the Chairman of NBR is monitoring the daily registration. All the VAT Commissioners at the field level are simultaneously finding new taxpayers and identifying competitive VAT payers. Yesterday, a total of 1,723 businessmen including 579 in Chittagong Commissionerate, 180 in Dhaka (North) Commissionerate, 266 in Dhaka (West) Commissionerate, 195 in Khulna Commissionerate, 50 in Rajshahi Commissionerate, 47 in Jessore Commissionerate, 41 in Rangpur Commissionerate, 27 in Comilla Commissionerate, and 71 in Dhaka (South) Commissionerate accepted new registrations across the country. The officials of the 12 VAT Commissionerates of the country are also working extra hours to increase VAT collection and expand the tax net. The NBR has been working to implement the government's new policies and guidelines for revenue collection. Increasing the tax-GDP ratio, satisfactory tax collection, and expanding the tax net are among the government's goals. To this end, officials of the Income Tax, Customs, and VAT divisions are working simultaneously in the field. These activities are continuing in line with the various initiatives of the current Chairman of the National Board of Revenue. In order to increase VAT revenue and coverage, several new instructions have been issued to the field commissioners under the implementation division from the first week of February. Earlier, the NBR declared February as the registration month for commissioners. To that end, yesterday, the member (VAT Implementation and IT) gave instructions to the representatives of the important platforms iBAS++, iVAS and Genex and all the officials related to VAT implementation to maintain involvement, connection and coordination. Similarly, he also involved the field-level commissioners.   As a result, a record number of new business establishments have been registered in one day. Incidentally, the current government has already brought amendments to the existing VAT law to increase the coverage of registration. Now, any businessman whose annual turnover is more than 50 lakh taka will have to get VAT registration. All field commissioners from NBR have been asked to work with taxpayers with a service-oriented mentality in issuing new registrations and collecting legal revenue, and to work out of the box through merit-based activities to increase new VAT payers. The NBR Chairman congratulated and thanked the hard-working VAT officials for bringing a record number of businesses under registration and called for continuing the work-oriented mentality. The Chairman specially requested all stakeholders, businessmen, representatives of electronic and print media to cooperate with NBR officials and create awareness in increasing the tax net.

Walton has launched ‘Digital Campaign Season-22’ with a millionaire offer ahead of the Eid festivals. In this season-22, customers are offered Tk 10 lakh on the purchase of Walton brand fridges, ACs, washing machines, or BLDC fans from any Walton Plaza and distributor outlets across the country, according to a media statement. Besides, customers can avail themselves of cashback offers worth crores of taka. These benefits will be available from 20 February until Eid-ul-Azha this year. Walton Hi-Tech’s MD S M Mahbubul Alam wins ‘MD of the Year’ award The campaign’s brand ambassador, popular film actress Bidya Sinha Saha Mim, inaugurated the logo for ‘Digital Campaign Season-22’ at the launch ceremony held at the Walton Corporate Office in the capital on Wednesday. Highlighting the details of the campaign, Walton's Head of Strategic Business Development, Ariful Ambia, said that buyers will need to digitally register their products after purchase. After that, customers will receive an SMS from Walton notifying them of the award. The respective plaza or showroom will hand over the prize to the customers. So far, Walton has conducted a total of 21 seasons of its digital campaign, with each season witnessing a huge response from buyers. Walton’s authorities hope this season will also be very successful and receive a great response from customers. Auto-rickshaw driver wins Tk 20 lakh after purchasing Walton fridge Among others, Walton Plaza’s Managing Director Mohammad Rayhan, Walton Hi-Tech's Additional Managing Director Nazrul Islam Sarkar, Deputy Managing Director and Chief Information Officer Mofizur Rahman, Walton Distributor Network’s Head of Sales Md. Firoj Alam, and Walton’s Head of Strategic Business Development Ariful Ambia, also attended the event. Popular model and actor Irfan Sajjad moderated the programme.