United News of Bangladesh

Gold has become even more expensive in Bangladesh, as the Bangladesh Jewellers’ Association (Bajus) has increased its prices for the 18th time this year. On Monday, Bajus set the price of 22-carat gold at Tk172,545 per bhori (11.664 grams), effective from Tuesday. Just a day earlier, on Sunday, the price of 22-carat gold stood at Tk167,833 per bhori, following a decision made on Saturday. The latest hike marks an increase of Tk4,712 per bhori. So far this year, Bajus has raised gold prices 18 times while reducing them on six occasions. Despite gold prices in Bangladesh already being higher than those on the global market, Bajus has continued to justify the hikes, citing a global upward trend. But, the association’s pricing often outpaces international forecasts. Bajus also reminded traders that the selling price of gold and silver must include 5 percent VAT, as per government regulations, along with a 6 percent minimum wage for workers, as set by the association. This means that a 22-carat gold ornament weighing one bhori would now cost around Tk191,545 – the highest price ever recorded in the country. The rising cost has led many consumers, particularly from middle-income households, to turn to alternative metals as gold becomes increasingly unaffordable. According to the revised pricing effective from Tuesday: Hallmarked 22-carat gold will be sold at Tk172,545 per bhori21-carat at Tk164,695 per bhori18-carat at Tk141,169 per bhori Traditional method gold at Tk116,779 per bhori Previously, on Monday: 22-carat gold was sold at Tk167,833 per bhori21-carat at Tk160,205 per bhori18-carat at Tk137,309 per bhoriTraditional method gold at Tk113,491 per bhoriMeanwhile, the price of silver remains unchanged.

Bangladesh Bank has instructed all scheduled banks to adhere to best practices in processing payments against Letters of Credit (LCs). In a recent notification, the central bank also allowed banks to consider defective import bills as eligible for payment, provided importers can present logical justification for accepting the errors. It, however, emphasised that banks must ensure the acceptance of such bills does not lead to any change in the nature of the imported goods. The directive comes amid reports that several local banks are declining to settle import bills with foreign banks, citing defects in documentation. This trend has been affecting the commercial relations between Bangladeshi and foreign banks, the notification noted. Expatriates sent $1.78 billion in remittances in first 19 days of April To address this, Bangladesh Bank has urged domestic banks to align their practices with international standards in settling import payments. The central bank further instructed banks to exercise caution when issuing delivery orders against import bills received through importers. Previously, banks were allowed to make payments against defective bills or bills received directly by importers, but only after submission of the bill of entry following customs clearance. Business leaders have long complained that despite receiving defective import bills, banks often refused payment, forcing foreign suppliers to wait until the goods were released, exposing them to financial risks. The new directive is expected to reduce confirmation charges and interest rates on import loans, ultimately helping to lower overall import costs.

Standard Chartered Bangladesh has launched the Freelancer Account, a tailored banking solution designed to meet the unique needs of the country’s vibrant freelance community. The Freelancer Account makes it easier for freelancers to receive overseas payments swiftly and securely. It offers end to end digital account opening process from anywhere — whether working from a home office, university dorm, or startup hub. This account offers zero account maintenance fees, free inward remittance, foreign currency remittance certificate, a complimentary international debit card along with processing fee and annual fee waiver on personal loan and selected credit card, said a press release. It provides freelancers with a simple, cost-effective, and globally accessible banking solution. Account holders can submit Form C via Standard Chartered’s Internet Banking app, enabling faster crediting of remittances. Bangladesh’s gold price exceeds global market prediction Lutful Habib, Head of Wealth and Retail Banking, Standard Chartered Bangladesh, said that Freelancer Account designed specifically for the bold and brave Freelancers of our country. “This is more than a bank account, it is an entire banking experience built so that freelancers can easily receive payments from global platforms like Upwork, Fiverr, and more.” Dr. Tanjiba Rahman, Chairman, Bangladesh Freelancers Development Society (BFDS), said that Freelancing is a powerful pathway to transform the unemployed into skilled contributors to the knowledge-based digital economy. “We are delighted that Standard Chartered has introduced a user-friendly account that meets the financial needs of freelancers and supports the flow of foreign remittances into Bangladeshi.”

The latest hike in gold prices in Bangladesh has pushed the precious metal’s value beyond levels anticipated from global market trends. On Sunday, high-quality 22-carat gold was being sold at Tk 167,833 per bhori (11.664 grams), marking the highest price ever recorded in the country. This follows the most recent price revision, which came into effect today. Meanwhile, Goldman Sachs has forecast that the global price of gold could reach USD 3,700 per ounce by the end of 2025. One ounce equals 31.1035 grams. The Bangladesh Jewellers' Association (Bajus) has fixed the 22-carat gold price at Tk 14,389 per gram. Accordingly, the local price of one ounce of gold stands at Tk 447,548. But, the current spot price for gold in the United States is approximately USD 3,328.30 per ounce, equivalent to around Tk 402,724. Gold prices rising globally due to central bank policies This means gold in Bangladesh is being sold at Tk 44,824 higher than the international market rate. Bajus had earlier raised the price of gold by Tk 3,033 per bhori last Wednesday. On Saturday, the association announced a further increase of Tk 2,624 per bhori, effective from Sunday. As per the new pricing, from Sunday, hallmarked 22-carat gold is being sold at Tk 167,833 per bhori, 21-carat at Tk 160,205 per bhori, and 18-carat at Tk 137,309 per bhori. Besides, the price of traditional method gold has risen to Tk 113,491 per bhori. Up until Saturday, the prices stood at Tk 165,209 per bhori for 22-carat hallmarked gold, Tk 157,697 for 21-carat, Tk 135,174 for 18-carat, and Tk 111,660 per bhori for traditional gold. Gold prices reach record high in Bangladesh ahead of Eid In a press release, Bajus stated that the selling prices of gold and silver must include a 5 percent VAT as mandated by the government, along with a 6 percent minimum wage set by the association. The wage component may vary based on the jewellery’s design and craftsmanship.

The stock markets of Dhaka and Chattogram suffered a significant setback this past week, with all major indicators, transaction volumes and the majority of share prices experiencing considerable declines. A review of the Dhaka Stock Exchange (DSE) weekly report reveals that the benchmark index, DSEX, dropped by 108 points over the four trading sessions. Starting the week at 5,205 points, the index ended at 5,097, marking a fall of over 2 per cent. Other indices also saw marked drops. The Shariah-based DSES index shed 29 points, losing nearly 2.5 per cent of its value. Even the blue-chip DS30 index, which tracks performance of well-established companies, declined by 52 points or 2.72 per cent, leaving investors in high-performing stocks in a grim situation. The SME index also mirrored the negative trend, falling by 4.15 per cent. The DSMEX lost 40 points over the week, underlining the overall distress in the capital market. Turnover, too, took a hit. The average daily turnover dropped to Tk 399 crore from the previous week’s Tk 487 crore—an 18.11 per cent fall. Investor participation waned, leading to a sharp reduction in share transfers. From Tk 98 crore in the second week of April, the total value of traded shares and units fell to Tk 57 crore in the third week. Only 77 companies recorded gains during the week, while 299 lost value and 20 remained unchanged. Only two sectors—corporate bonds and general insurance—posted positive returns. All other sectors continued to struggle, with mutual funds and ceramics seeing more than 6 per cent drop in returns. Despite a marginal overall gain in the banking sector, individual bank stocks performed poorly. Of the 36 banks involved in trading, 24 witnessed price drops. Mixed trends in stock markets: DSE gains, CSE declines in early trading The non-bank financial institutions sector performed dismally, with a 41 per cent drop in share prices and 31 per cent fall in turnover. Out of 23 listed financial institutions, only one recorded a price increase, 17 declined, and 5 remained unchanged. While the general insurance sector saw an 85 per cent gain in share prices, life insurance faced a setback with over 50 per cent decline. The telecom and IT sectors declined by 32 per cent and 38 per cent respectively. The engineering sector also underperformed, losing 16 per cent in value. In the block market, the top sellers were Marico, Beach Hatchery, and ACI Ltd. Marico offloaded shares worth Tk 25.2 crore, Beach Hatchery Tk 25.1 crore, and ACI Tk 20.68 crore. Among the week's top-performing shares was Desh General Insurance Company Ltd. A B-category company, it posted a return of over 24 per cent in just four trading sessions—its share price climbing from Tk 25 to Tk 31. In contrast, Bangladesh Finance was the worst performer, losing over 15 per cent. The A-category company’s share dropped from Tk 12 to Tk 10. Chattogram Market Equally Strained The Chattogram Stock Exchange (CSE) experienced a similar downturn. Its benchmark index fell by 250 points over the week. Excluding Z-category (non-dividend paying) companies, the selective CSCX index declined by 149 points. DSE announces new trading hours for Ramadan The CSE-50 benchmark index slipped by 17 points, while the Shariah-based CSI index dropped 21 points. The SME index fell by 4.57 per cent. Among 301 companies that traded throughout the week in CSE, prices rose for only 65, fell for 218, and remained unchanged for 18. Anwar Galvanizing Ltd topped the weekly gainers’ list in CSE, with its share price increasing by Tk 28—from Tk 68 to Tk 87. Meanwhile, Shamarita Hospital saw the steepest fall, losing Tk 20 per share. Orion Infusion recorded the highest turnover in the CSE with Tk 7.6 crore in total trades. Investor Confidence Falters Ongoing price falls have left investors demoralised. Many are closing their Beneficiary Owner (BO) accounts and exiting the market altogether. According to Central Depository Bangladesh Ltd (CDBL), the number of BO accounts with zero balance rose from 3,69,210 before the Eid holidays to 3,73,367 by the end of the latest trading session—a net exit of 4,157 investors in just a few days. Tareq Hossain, a retail investor, said, “No visible reforms have taken place in the market so far. There’s no progress in penalising or trying those involved in manipulation. Investors are gradually losing interest.” Another investor, Habibur Rahman, added, “None of our demands have been met. Despite repeated discussions, the buy-back policy hasn’t been implemented. Those who lost everything through margin loans have also been ignored.” Faridur Rahman pointed out the cascading effect of margin loans: “When junk stocks fall, investors are forced to sell off quality stocks to cover their losses—dragging even good stocks down.” Where Are the IPOs? Another major concern is the lack of quality IPOs. Several reputed companies were expected to go public this year, but those plans have not materialised. Weekly Review: DSE plunges as investor confidence wanes; key sectors hit hard A senior official from the Bangladesh Securities and Exchange Commission (BSEC), requesting anonymity, confirmed that no new IPOs are expected this year. “Good companies are not confident enough to enter the market,” he said. He explained that BSEC is in the process of overhauling IPO listing rules. “The revised IPO guidelines may not be gazetted until September. After that, it may take another 5–6 months for new listings, meaning we may not see fresh IPOs before March or April 2026.” In response to queries about the current commission's inability to attract strong listings, the official noted that many previously well-performing firms have undergone management changes due to political shifts. Moreover, higher interest rates on bank loans have cut into company profits, discouraging them from seeking public capital. He concluded that substantial tax incentives are needed to attract large corporations to the market. “Offering meaningful benefits could encourage top firms to list, which would, in turn, revitalise the stock market.”

Importers who opened or amended letters of credit (LCs) for yarn on or before April 13 will be allowed to bring in cotton through land ports, the National Board of Revenue (NBR) said on Thursday. The clarification came amid confusion following the recent government ban on yarn imports through land ports. On April 13, the NBR suspended the import of yarn including cotton yarn through major land ports such as Benapole, Bhomra, Sonamasjid, Banglabandha, and Burimari. The move followed a request from the Bangladesh Textile Mills Association (BTMA) and recommendations from the Commerce Ministry. The decision aims to support local yarn producers and curb under-invoicing of imported yarn. The ban applies to all importers including 100% export-oriented industries and took effect immediately.    

National Board of Revenue (NBR) Chairman Md Abdur Rahman Khan on Thursday categorically said the government is firmly committed to supporting local producers rather than offering incentives to commercial importers. “In principle, we have said there shall be a duty gap between our manufacturers and commercial importers,” he said while speaking at a pre-budget meeting held at the conference room of the Revenue Building in the capital. The head of the revenue authority said the NBR's responsibility is to remove all obstacles for honest and compliant businesspeople. “But just remember one thing, if anyone misuses any facility, that person will not be allowed to do business in Bangladesh anymore,” he warned. He also mentioned that his organisation is ready to do everything for the sake of removing hurdles for trade and commerce in the country aiming to gain bigger revenue collection. Expressing dissatisfaction with the very lower number of Value Added Tax (VAT) registration in the country, Abdur Rahman Khan said there is no reason to have a VAT registered number below six lakh. “This number should have crossed one crore mark long ago,” he said. NBR lifts 5pc advance import tax on crude soybean and palm oil To increase the VAT registered business entities, he said, the NBR started installing electronic fiscal devices (EFD) on its own and after getting impressive results later gave it to third parties. “But that also failed, we are working on various types of alternatives, you will see the result within the shortest possible time,” he said. The NBR chairman said his organisation faced administrative constraints for various reasons, but efforts are underway to resolve them. He also said he is under pressure from development partners due to the very low tax GDP ratio of the country. “Both in the morning and evening, the development partners are squeezing me for this very lower ratio… and the reality is that, there is no country in the world that collects such lower revenue,” he said. Bangladesh’s tax-to-GDP ratio stands at 7.3%, significantly lower than neighboring countries like India (12%), Nepal (17.5%), Bhutan (12.3%), and Pakistan (7.5%). This low ratio hampers the government’s ability to invest in critical sectors such as health, education, and social protection, thereby affecting economic growth and perpetuating poverty and inequality. The NBR is actively working to improve this ratio by targeting tax evasion and increasing compliance. Currently, out of approximately 11.4 million Taxpayer Identification Number (TIN) holders, only 4 million have submitted their income tax returns. Efforts are underway to address this gap and enhance revenue collection. Next budget to focus on removing non-tariff barriers: NBR Chairman The government aims to raise the tax-to-GDP ratio to 11.2% by the fiscal year 2025-26. To achieve this, measures such as implementing a simplified 15% Value Added Tax (VAT) system are being considered. Additionally, the International Monetary Fund (IMF) has emphasized the need for Bangladesh to increase its tax-to-GDP ratio, recover defaulted loans, and implement banking sector reforms.

The United States could collect over $1 billion in tariffs on Bangladeshi goods if additional tariffs are implemented as the US imports 1,208 items from Bangladesh, while Bangladesh imports 2,515 items from the US, according to a study by the Centre for Policy Dialogue (CPD). CPD presented the analysis during a dialogue titled "Trump's Reciprocal Tariffs: Implications for Bangladesh and Its Response," held on Thursday at a hotel in Dhaka. FICCI calls for equitable energy tariff to safeguard investment, competitiveness In terms of duties, Bangladesh collects from 2,215 items, while the US collects duties on 927 items on its imports. The total value of US imports from Bangladesh in 2024 stood at over $8.45 billion, while Bangladesh's imports from the US amounted to around $2.53 billion, based on 2024 export data. CPD Distinguished Fellow Prof Mustafizur Rahman explained that Bangladesh imposes an average customs and other duties of 6.2 percent on US imports. After accounting for rebates, he said, the weighted average tariff drops to 2.2 percent. In comparison, the weighted average tariff on US imports from Bangladesh is 15.1 percent, with duties on apparel imports alone amounting to $1.191 billion, he added. Bangladesh’s exports reach $4.43 billion in Jan, up 5.7% year-on-year The CPD suggested that Bangladesh should carefully monitor the impact of US tariffs on its export competitiveness, especially in relation to countries like Vietnam, Cambodia, and Thailand. It also recommended exploring strategic options, such as engaging the US through the Trade and Investment Cooperation Forum Agreement (TICFA). Besides, the CPD proposed that Bangladesh request a list of products on which the US would like to see duty-free or reduced-duty access when exporting to Bangladesh. The CPD also noted that the USTR National Trade Estimates Report (March 2025) highlighted several concerns regarding Bangladesh's trade policies. These include Bangladesh's failure to submit its trade-related transparency notification under the Trade Facilitation Agreement, which the country has ratified, as well as its lack of notification to the WTO on its customs valuation legislation and its unresponsiveness to the checklist of issues regarding the implementation of the WTO customs valuation agreement.

The Microcredit Regulatory Authority (MRA) and International Finance Corporation (IFC) signed a deal for digital transformation in microcredit and enhanced housing loan facilities. Under the program IFC will finance to enhance the capacity of microfinance institutions and the Microcredit Regulatory Authority (MRA) providing short- and medium-term housing loans and digital financial services (DFS) in Bangladesh’s microfinance sector. The MRA and the IFC have signed a project agreement worth approximately US $3.5 lakh, held at MRA headquarters in the capital on Wednesday. Banks' CSR spending declines by 33 %, blame goes to loan scams Prof Mohammad Helal Uddin, Executive Vice Chairman of MRA, and Mehdi Cherkaoui, South Asia Manager (FIG Upstream and Advisory) of IFC, signed the project document titled “Bangladesh Microfinance Sector Development (BMSD)”. Md Saeed Kutub, additional secretary, graced the event as the guest of honour, while Prof Mohammad Helal Uddin presided over the ceremony attended by senior officials from the Ministry of Finance, Bangladesh Bank, CEOs and representatives of microfinance institutions, and officials from both IFC and MRA.

Banks’ spending on corporate social responsibility (CSR) initiatives dropped by 33 percent in 2024 compared to the previous year, following a loan disbursement scam that shook the sector. According to Bangladesh Bank's latest data, banks spent Tk 615.96 crore on CSR in 2024, which is 33 percent or Tk 308 crore less than the previous year. In 2023, they spent Tk 924.32 crore in this sector. Prior to that, in 2022, the expenditure was Tk 1,129 crore. Compared to 2022, expenditure in 2024 decreased by Tk 513 crore or more than 45 percent. According to regulations, the country's banks spend a portion of their profits on CSR activities. There is also a policy in place to ensure that CSR funds are used in the country's sustainable sectors. But, the banks are not following the central bank's directives in this regard. Priority sectors like education and health are being neglected in the allocation of funds. Simultaneously, expenditure in these sectors has been consistently decreasing, falling by half, as revealed in the central bank report. These findings emerged from an analysis of the Bangladesh Bank's published report on CSR on Tuesday (April 15). As per the existing rules, only banks that generate a net profit can undertake CSR expenditure. The percentage of profit to be spent or whether to spend at all is the bank's own decision. If they do spend, they are required to do so by the policy. Bangladesh Bank's guidelines state that 30 percent of the total CSR expenditure of banks and financial institutions should be spent on the education sector, 30 percent on the health sector, and 20 percent on mitigation and adaptation to environmental and climate change. The remaining 20 percent can be spent on income-generating initiatives, disaster management, infrastructure development, sports, entertainment and other sectors. According to the report's data, the 61 scheduled banks, during the discussed period (2024), disregarded the directives and spent the highest amount, 54 percent or Tk 330.52 crore, in the 'other' sector. Only 17.5 percent or Tk 108 crore was spent on education, 25.16 percent or Tk 155 crore on health and a mere 3.62 percent or Tk 22.36 crore on environmental and climate change mitigation. In 2024, six banks did not spend any money on CSR. These banks are BASIC Bank, Bangladesh Krishi Bank, Rajshahi Krishi Unnayan Bank, Bangladesh Commerce Bank, National Bank and Padma Bank. According to the rules, 14 banks ensured 30 percent expenditure in the education sector, 21 banks in the health sector, and 9 banks in the environmental and climate change mitigation-adaptation sector. Besides, 44 banks violated the policy by spending more than 20 percent in other sectors. The report's data indicates that 8 banks did not achieve a net profit in 2023. These banks are BASIC Bank, Bangladesh Krishi Bank, Rajshahi Krishi Unnayan Bank, Bangladesh Commerce Bank, ICB Islamic Bank, Citizens Bank, National Bank, and Padma Bank. Despite not achieving a net profit, Citizens Bank and ICB Islamic Bank undertook CSR expenditure. Thirteen banks licensed after 2013 have a condition to spend at least 10 percent of the previous year's net profit on CSR in the following year. If a bank does not have a net profit, it does not have to spend on CSR. Bad loans must be cut to ensure good governance in banks: Speakers Among these banks, NRB and Community Bank spent more than 10 percent last year. Padma and the new Citizen Bank, which were weakened due to various irregularities, did not do CSR in 2023 because they did not earn a net profit. Besides, nine banks made a net profit but did not comply with the central bank's conditions. SBAC, Midland, Modhumoti, Simanto, NRB Commercial, Union, Meghna, Bengal Commercial Bank and Global Islami Bank are the banks.