United News of Bangladesh

Bangladesh Jewelers Association (Bajus) has reduced the price of gold by Tk 3137 per bhori from Tuesday. According to the new price, the price of a bhori of the good quality 22-carat gold will be Tk 167,623, which was sold at Tk1,70,761 per bhori on Monday.  18th Bangladesh Denim Expo kicks off The Bajus notification stated that the price of pure gold (acid gold) has decreased in the local market. As a result, the new price of gold has been determined considering the overall situation. According to the new prices, the price of the best quality or 22-carat gold per bhori (11.664 grams) has been fixed at Tk 1,67,623, 21-carat gold per bhori at Tk1,59,995, 18-carat gold per bhori at Tk1,37,145 and the price of traditional gold per bhori at Tk1,13,339. Bangladesh Bank increases limit for overseas medical treatment expenses The previous price was for the best quality or 22-carat gold per bhori at Tk 170,761, 21-carat gold per bhori at Tk1,63004, 18-carat gold per bhori at Tk1 39711 and the price of traditional gold per bhori at Tk115532. Although the price of gold has increased, the price of silver has remained unchanged. 

Community Bank Bangladesh PLC on Monday launched ‘Dedicated Service Desk’ for police simultaneously in all its branches and sub-branches across the country. The ‘Dedicated Service Desk’ will ensure specialised and priority banking services for police members. Community Bank launched officially in a ceremony held at the Dhanmondi branch in the capital on Monday. Additional DIG of Bangladesh Police and Director of Community Bank, Ahmad Mueed, opened the service as the chief guest. He said that this initiative is a reflection of the sincere respect and sense of responsibility of Community Bank towards the Bangladesh Police. From now on, police members in any branch of the country will know that there is a desk and an officer designated for them, who will provide fast and priority services. Kimiwa Saddat, MD (current Charge) of Community Bank was present at the event as the special guest. He said, “Bangladesh Police are the foundation of this bank; it is our moral responsibility to provide them with respectable, fast, and convenient banking services.” From today, every branch and sub-branch will have a dedicated desk where police members will receive special services. If it is not possible to provide any service immediately, it will be recorded on the central server and followed up regularly until it is resolved, he said. The scope of the dedicated service desk includes: • Full support regarding accounts, loans, deposits and cards. • Priority in cash transactions and service by a designated officer. • Quick resolution of incomplete services or complaints by recording them in the central database. • Informing about the progress of the service through direct phone calls • Providing information and advice on all banking products and services applicable to the police.

The two-day 18th Bangladesh Denim Expo began on Monday at the International Convention City Bashundhara (ICCB) in Dhaka. A total of 57 exhibitors from 13 countries, including Bangladesh, India, Pakistan, China, Turkey, Spain, Italy, Vietnam, UAE, Germany, Switzerland and USA, have been participating in the expo. Addressing the event, Mostafiz Uddin, founder & CEO of Bangladesh Denim Expo, said, “Bangladesh has emerged as the fastest-growing apparel exporter to the United States in the first quarter of 2025, posting the highest year-on-year growth of 26.64%. This performance placed Bangladesh ahead of other major exporters such as India with a 24.04% rise, while Pakistan, Vietnam, and China with the rise of 17.49%, 13.96%, and 4.18% respectively at a time when US market is volatile because of imposing worldwide reciprocal tariff by the Trump’s Administration recently. I think even on the negotiation table of the trade issues our card should be the industry’s steady progress towards skill development, sustainability and innovation. As we need our trade partners as much as their consumers need us.’’ Bangladesh is the largest denim exporter both to the USA and Europe and enjoying duty-free market access to the EU under the Everything But Arms (EBA) and Generalized Scheme of Preferences (GSP) as an least developed country (LDC) but the status to be changed to a developing nation next year, he said. Medical equipment, health tourism, food and agro expositions kick off in Dhaka If Bangladesh fails to attain GSP Plus, the country will not be able to export products with duty free facility to the EU from 2029, the region accounts for 50.15% of Bangladesh’s total apparel export, he continued. “In the last edition of Bangladesh Denim Expo, we had expert panel sessions on the LDC graduation where all the speakers unanimously stressed on the capacity building of the industry to cope up with the changing tariff regimes. So, in this edition of the expo, all the panel sessions we designed are solely meant for capacity building of both the professionals and the industry. You may also say that from this edition we shifted from plans to actions to prepare Bangladesh’s denim industry for 2029 and beyond,’’ added Mostafiz Uddin. There are two panel sessions scheduled for the two-day event on the topics “The growth of the Bangladesh denim industry, through the perspective of denim washing” and “Stretch-ability of Bangladesh denim traceability”. Abdus Samad, Director of Well of Washing, Arief Labu, Co-founder & Creative Director of Ruhrose RBT Ltd. Julie Davies, GM - Processing Innovation, and Education Extension, The Woolmark Company, Kamal Uddin Mia, Chief Operation Officer (Washing), Bitopi Group, Marco Volpi, Head of Sales for the Europe and Africa region, Bluesign Technologies AG, Md. Forhad Hossain, Owner, Pure Chemicals, Raquib Imtiaz, Business manager, LC WAIKIKI, Reza e Rabbi, Head of Operation, Vertex Wear Limited, Shohel Rana, CEO, Designer Fashion LTD and Designer Wash LTD, are sharing their expert insights in the panel sessions. Businesspeople think the country will continue to be an indispensable global sourcing destination even during the times of tariff and trade wars. Capacity building and innovation will be the building stone for the industry to sail through the uncertain times. 2-day Meet Bangladesh Exposition ends with strong buyer interest There will also be one special presentation on ‘The denim business beside sewing and wash production’ by Mohammad Jahangir Alam, Head of Operation, Square Denims Ltd, Garment Unit. At the expo, a fashion trend-zone was set up to showcase cutting-edge denim innovations and unique fabrics from Bangladesh.

Bangladesh Bank has raised the limit of funds to be sent abroad for medical treatment expenses from US$ $10,000 to $15,000. The foreign exchange policy department of the central,bank on Monday, through a circular confirmed this. The new directive allows individuals to send up to $15,000 for this purpose without prior approval from the central bank. Previously, banks were authorised to remit a maximum of $10,000 for medical expenses without special permission. This limit has now been raised by an additional $5,000. According to the Bangladesh Bank's notification, up to $15,000 in foreign currency can be released in the name of the hospital or through international cards. Within this limit, customers can also withdraw up to $5,000 in cash. Bangladesh Bank to release newly designed banknotes ahead of Eid Sources indicated that due to visa complexities with India, many individuals seeking advanced medical treatment are now opting for alternative destinations such as Thailand, China, Singapore, the United Kingdom, and the United States. The cost of travel and treatment expenditures in these countries tends to be higher, considering that the central bank has relaxed dollar spending. The central bank clarified that for medical expenses exceeding $15,000, the remitting bank will need to seek special authorisation from the Bangladesh Bank. Bangladesh Bank stated that simplifying the process for legitimate medical expense transfers aims to discourage individuals from resorting to illegal channels like hundi, which can negatively impact inward remittances. This move follows a decision earlier this month by the Bangladesh Bank to ease regulations for sending funds abroad for various purposes, including education. Bangladesh Bank urges best practices in LC payments Banks can now utilise international card platforms to facilitate payments for membership fees, IT-related expenses, overseas education costs, visa fees, foreign training registration fees, and medical expenses.

Naogaon district administration has set May 22 to deliver mangoes to the market for the buyers, commencing with local variety of mango ‘Guti’. The decision was taken from a meeting chaired by Deputy Commissioner Mohammad Abdul Awal on Monday, with mango growers, traders, agriculture officers, and administrative officials from all 11 upazilas of the district, attending. According to the meeting, only the early-ripening local varieties will be harvested on May 22 while the popular premium varieties such as Gopalbhog will follow on May 28, Khirsapat and Himsagar on June 2 and the Geographical Indication (GI)-recognised ‘Nak Fazli’ on June 5. The district's most widely cultivated variety ‘Rupali,’ will be available from June 18. Other varieties of mangoes will be available according to the schedule below: Gopalbhog on May 28, Khirsapat, Himsagar on June 2, Nak Fazli on June 5, Langra, Haribhanga on June 10, Rupali on June 18, Fazli, Banana Mango on June 25, Ashwina, BARI-4, Gourmoti, and Katimon on July 10. No timeframe set for mango harvesting in C’nawabganj this year

Although the week began with a downturn, trading on the country’s stock markets ended on a positive note on Sunday, with indices rising and share prices increasing for the majority of listed companies in both Dhaka and Chattogram. At the Dhaka Stock Exchange (DSE), the benchmark DSEX index increased by 19 points, while the main index posted gains, the other two indices in Dhaka did not perform as strongly. The Shariah-based DSES index rose by just 1 point and the DS30 index, which tracks blue-chip companies, fell by 4 points. Out of the 395 companies that participated in trading at the DSE, the share prices of 189 companies increased, while 160 declined and 46 remained unchanged. Across all three categories — A, B and Z — share prices were mostly on the rise. Among the 216 companies listed under the A category, which includes firms with consistent dividend payouts, 122 posted gains. Stock market sheds Tk 17,000cr in April as DSEX down by 302 points The share prices of 80 A-category firms declined, and 14 remained unchanged. Mutual funds also saw a positive trend, with 30 out of 36 funds gaining in value. Only 3 saw price declines, while the remaining 3 stayed the same. In the DSE block market, 21 companies traded shares worth Tk 6.83 crore. Beacon Pharmaceuticals accounted for the highest transaction, selling shares worth Tk 2.24 crore. Despite the favourable movement in indices and share prices, overall turnover at the DSE remained stagnant. Total transactions stood at Tk 364 crore, slightly lower than the previous session’s Tk 366 crore. Northern Islami Insurance emerged as the top gainer on the DSE with a 10% rise in share price. On the other hand, Bay Leasing and Investment Ltd saw the biggest drop, losing over 3.5%. Chattogram Market Also Sees Gains Like Dhaka, the Chattogram Stock Exchange (CSE) also ended the day with an upward trend. The CSE’s overall index rose by 19 points during the day’s trading. Out of 182 companies that traded on the CSE, 91 advanced, 71 declined, and 20 remained unchanged. DSE, 2 other South Asian stock markets unite to drive regional growth Total turnover at the CSE amounted to Tk 7.29 crore — a sharp decline from the previous session’s figure of over Tk 21 crore. Phoenix Insurance Company Ltd topped the gainers’ list at the CSE with a price surge of 9.87%. Meanwhile, Green Delta Insurance PLC ended at the bottom, shedding 10% in value.

To resolve the ongoing crisis in the banking sector, the government has made the ‘Bank Resolution Ordinance 2025’, which has been published as a gazette notification. The ordinance is empowering Bangladesh Bank, so stricter and more organised steps can be taken to maintain the stability of the banking sector, as stated in the introduction of the ordinance. Bangladesh Bank can take over any bank, including and financial institutions to bring stability to these institutions. Bangladesh Bank to release newly designed banknotes ahead of Eid To this end, the 67-page Bank Resolution Ordinance, 2025 was published in the form of a gazette on Friday (9 May), a holiday. Earlier, on 17 April, the advisery council approved the draft of the ordinance. The new provision states that the central bank can temporarily take over any scheduled bank or financial institution, including any Islamic banks, under government ownership. For this, Bangladesh Bank can issue an order to transfer one or more shares. However, the recipient of the shares must be a government-owned institution. According to the ordinance, if the owner of a bank misuses the bank's assets for personal gain or resorts to fraud, then Bangladesh Bank can take any action against that bank through a resolution. If necessary, there will be an opportunity to appoint a temporary administrator in the bank, reinvest capital, transfer assets and shares to a third party, and suspend operations partially or completely. Bridge Bank Concept and Liquidation Process: As part of the restructuring of a weak bank, an opportunity has been provided for establishing a "bridge bank", which can also be sold at a later date. If it is necessary to completely close the bank's operations, Bangladesh Bank can take the initiative for liquidation through the court. In this case, a time limit has also been set for the appointment of a liquidator and settlement of liabilities. Personal liability and fines: The liability of the persons involved in the failure of the bank has been determined, and it has been said that if the bank suffers losses as a result of the actions or decisions of any person, he will be personally liable. In addition, a provision has been made for imposing a fine of up to Tk50 lakh and an additional penalty of Tk5,000 for each day of violation of the ordinance. Inter-institutional Council for Crisis Management: A seven-member ‘Banking Sector Crisis Management Council’ will be formed to deal with the crisis in the banking sector, headed by the Governor of the Bangladesh Bank. The other members are the Finance Secretary, the Secretary of the Financial Institutions Division, the BSEC Chairman, the Legislative Secretary, and two Deputy Governors of the Bangladesh Bank. The council will meet every three months and prepare emergency crisis plans.  

Standard Chartered Bangladesh has appointed Enamul Huque as its Country Chief Risk Officer (CRO). In his new role, Enam will also concurrently serve as Senior Credit Officer for the Corporate and Institutional Banking (CIB) portfolio. Enam brings with him over 26 years of extensive leadership experience in the banking industry, according to a press release. Standard Chartered Bank clinches “Best International Bank in Bangladesh” award Following professional engagements with globally reputed organisations like HSBC and KPMG, he joined Standard Chartered in 2001. Since then, Enam has served across multiple key positions within Standard Chartered, encompassing Local Corporates, Commodity Traders and Agribusiness, Global Subsidiaries, and Financial Institutions. Most recently, Enam successfully led Coverage for Corporate Clients. Standard Chartered Bangladesh launches Freelancer Account Prior to this, he was instrumental in providing strong leadership to the whole Corporate, Commercial & Institutional Banking segment. Enam significantly contributed to delivering record performances while maintaining low impairment in a dynamic economic environment. Naser Ezaz Bijoy, Chief Executive Officer, Standard Chartered Bangladesh, said, " His extensive experience in client coverage has provided him with unique insights into client-specific risks and opportunities, making him ideally suited to strengthen our risk management framework.”  

Shams Mahmud has been re-elected president of the Bangladesh-Thai Chamber of Commerce & Industry (BTCCI) for 2025-2027. He was elected through the 19th Annual General Meeting (AGM) of the organization held at Gulshan Club Ltd on Saturday, said a statement. Md. Munir Hossain and Hossain A Sikder have been elected as senior vice president and vice president respectively along with Tanvir Ahmed of Sheltech Group, director (administration) and Md. Ahsanuz-zaman of Spectra Hexa, director (finance) for the same period. The other newly elected directors are Md. Salem Sulaiman of Massons Group, Razzak Sattar of Utha Group, Md. Ashikur Rahman of TAD Sourcing, Anowar Hossain Manik of Textown Group, Chin Phuengsab-chaikul of SCG International, MK Karim Antu of Pentagon Group, Ameer Chowdhury of ABC Group, Mahmud Hasan of Siam City Cement, Sumaiya Noor Chowdhury of KN-Harbour and Hafiz U Biplob of United HVAC Ltd. Shahjahan Khan re-elected BTCCI President Shams Mahmud is a leading entrepreneur in the textile and readymade garments sector in Bangladesh. He is the managing director of Shasha Denims Ltd, Shasha Garments and Shasha Textiles and director of EOS Textiles Ltd, Track Innovative Technologies Ltd. and Fly Dhaka Airlines Ltd. He also holds the post of the secretary general of the Consular Corps Bangladesh (CCB).   The businessman was a former president of the Dhaka Chamber of Commerce & Industry (DCCI), a former Director of BGMEA and Former Vice President of the Bangladesh-Philippines Chamber of Commerce & Industry (BPCCI).    

Export and import activities between Bangladesh and India through the Hili land port in Dinajpur remained suspended on Sunday on the occasion of Buddha Purnima. But, the movement of travellers with valid documents, including passports, continued as usual. Md Ferdous Rahman, President of the Hili Customs C&F Agents Association, said traders from both countries decided to halt import and export operations from morning till evening in observance of Buddha Purnima, a public holiday. Trade through Hili port resumes after Eid holiday Besides, loading and unloading inside the land port were suspended, he said, adding that business activities would resume on Monday. Hili Immigration Checkpost officer-in-charge Ariful Islam said the movement of travellers with valid documents remained unaffected.