Bangladesh Bank has decided to appoint administrators in five banks undergoing a merger process. The administrators will work in coordination with the existing management, central bank spokesperson Arif Hossain Khan announced after a special board meeting chaired by Governor Ahsan H. Mansur.

As per the decision, First Security Islami Bank, Social Islami Bank, Global Islami Bank, Union Bank, and EXIM Bank will be merged to form a new state-owned entity, tentatively named United Islami Bank. The central bank is expected to issue its license soon.

Economic Adviser Salehuddin Ahmed has emphasized that Bangladesh is purchasing Liquefied Natural Gas (LNG) by comparing prices in the international market, regardless of the supplier country—be it the United States, China, Qatar, or Saudi Arabia.

Speaking after a meeting of the Advisory Committee on Government Procurement and Economic Affairs, he confirmed that several power substations, fertilizer supplies, and LNG purchase proposals had received approval.

Salehuddin noted that reducing the trade deficit with the United States depends largely on identifying viable imports. While sourcing goods from the U.S. may slightly raise prices, he assured that this would not significantly impact consumers.

He also highlighted improvements in the overall business climate, pointing out that many previously evaded taxes are now being recovered. On the issue of fertilizer imports, he said corruption allegations would be investigated, and both the Agriculture and Industries Ministries have been tasked with looking into the matter.

In a bid to stabilize the foreign exchange market, Bangladesh Bank has purchased approximately $1.13 billion over the past six weeks. Officials say the move is aimed at balancing export earnings and remittance inflows, not manipulating prices.

Banking sector insiders view the initiative positively, warning that if the dollar’s price drops in official channels, remittances may shift to informal routes.

For over a year, the dollar market has remained stable at Tk 121–122 per dollar. Strong export growth and high remittance inflows have boosted supply, alongside foreign loans, strengthening reserves. During the first two months of this fiscal year, Bangladesh received more than $13.5 billion, while imports and debt repayments consumed just over $10.5 billion, leaving a sizable surplus.

To absorb the excess, Bangladesh Bank stepped in as a major buyer through dollar tenders.

Economic Adviser Dr. Salehuddin Ahmed has emphasized the caretaker government’s determination to leave behind tangible contributions for citizens before its tenure ends.

“I asked the NBR chairman whether we’ll be able to see some of the benefits of our reforms before February, when we step down,” Dr. Salehuddin said. “The Chief Adviser often reminds us that we should try to leave some lasting contributions. Yet, I see certain newspapers publishing only despair—no signs of hope. We want to show people a ray of hope.”

He explained that any new government would need time to settle in, so it was crucial for the current administration to act with goodwill and demonstrate immediate progress.

Addressing tax lawyers, Dr. Salehuddin criticized harassment in public services:
“People are made to run around unnecessarily. Even I sometimes get fed up and say, ‘Just process it.’ For instance, I tell my driver not to bother me repeatedly about his driving license. Citizens need to be freed from such hassles. People want service, and when they receive good service, they are willing to pay for it without hesitation.”

A US trade delegation is arriving in Dhaka on Sunday for a two-day visit to discuss the 20% counter-tariff imposed on Bangladeshi goods in the American market.
The delegation will be led by Brendan Lynch, Assistant USTR for South and Central Asia. Although tariffs have been reduced from 35% to 20%, no formal agreement has yet been signed. A draft deal is prepared, and discussions will focus on finalizing it and potentially reducing tariffs further.
During the visit, the delegation will meet with the Ministry of Commerce, Chief Adviser, Foreign Affairs Adviser, and Foreign Secretary.

Economic Advisor Sheikh Bashiruddin has said that Bangladesh has the potential to transform into a “goldmine” if its human capital is properly nurtured.

Speaking on Friday, he highlighted that while the country lacks sufficient raw materials for large-scale industrial production, this shortfall can be overcome through education, innovation, and knowledge acquisition by students.

He explained that ensuring labor productivity, utility proportion, logistics excellence, cost efficiency, access to finance, and market access would allow Bangladesh to offset raw material shortages and drive economic growth.

Bashiruddin further stressed the importance of uninterrupted product supply in market management. He pointed out that during the last Ramadan, coordinated efforts by the Ministry of Finance, Bangladesh Bank, and the Ministry of Commerce kept supply chains stable, resulting in lower commodity prices.

Addressing past challenges, he revealed that several members of so-called “syndicates” had fled the country, making it difficult to stabilize the supply side. “Through collective efforts, we managed to overcome that crisis,” he noted.

Reflecting on recent economic progress, Bashiruddin said, “After Sheikh Hasina’s fall, our reserves stood at around $10 billion against liabilities of $6 billion. Under the Chief Advisor’s leadership, we cleared those liabilities. Today, reserves have risen to $30 billion.”

Looking ahead, he emphasized that if future governments adopt a coordinated, democratic approach to market regulation and implement impartial reforms, Bangladesh’s market system will be strengthened, ensuring equitable distribution of wealth and resources.

Sheikh Bashiruddin, Trade Advisor, has acknowledged Bangladesh’s progress in the ready-made garment (RMG) sector but cautioned that the country lags behind in overall competitiveness.

Speaking at the Belt and Road Initiative in Bangladesh Exhibition, he noted that Chinese investment in Bangladesh has surged by 300 percent. “We must identify our weaknesses and advance through knowledge-sharing. By utilizing China’s expertise in production and packaging, we can expand our opportunities,” he said.

He further highlighted road safety concerns, stating that annual fatalities from road accidents in Bangladesh remain alarming. “Improving road infrastructure and transport management is a necessity,” he stressed.

Bashiruddin also revealed that a U.S. government delegation will arrive in Dhaka on Sunday to discuss tariff issues, focusing on how to restructure tariff frameworks for trade efficiency.

Economic Advisor Salehuddin Ahmed has confirmed that the government will purchase 300 vehicles for on-ground election operations. However, a previously proposed plan to buy vehicles for ministers has been rejected by the Finance Ministry.

Salehuddin also highlighted ongoing banking reforms, stating, “When banks merge, customers will face no inconvenience, and no funds will be lost.” The government formed an eight-member working committee on Monday to oversee the integration of five Shariah-compliant banks, potentially named “United Islami Bank,” following a policy decision by Bangladesh Bank.

On international labor and education initiatives, he added that 100,000 workers are set to be sent to Japan, emphasizing the need for language skills, technical proficiency, and opportunities for PhD graduates to secure employment there.

Shipping Adviser M. Sakhawat Hossain has said Bangladesh would have no objection to allowing foreign companies to operate the New Mooring Container Terminal at Chattogram Port if it benefits the country.

“Currently, there is no extortion in the port. If foreign operators take over, there will be none at all,” he remarked. He highlighted that port revenues have risen by 8.5 percent, with the Ministry of Shipping generating Tk 65,759.7 crore in revenue for FY2024–25, up 9.4 percent from the previous year.

Hossain also hinted at stepping down after the February elections, saying he would “wrap things up in January and go home after February.”

Bangladesh’s overall inflation rate fell to 8.29% in August, its lowest level in more than three years, according to BBS data.
The figure is down from 8.55% in July and significantly lower than 10.49% recorded a year earlier.
Food inflation edged up slightly to 7.60% in August from 7.56% in July, while non-food inflation dropped from 9.38% to 8.90%.
Despite the decline, wage growth slowed to 8.15%, marking the 43rd consecutive month where wage increases lagged behind inflation—further straining low-income households.

Bangladesh Bank Governor Ahsan H. Mansur announced that no bonuses will be issued at loss-making banks.
“Banks with capital below 10% and provisioning losses cannot declare dividends or bonuses,” he said, adding that loans overdue for three months would be classified as non-performing.

Mansur noted improvements in financial discipline, including a sharp decline in hundi transactions that once siphoned off 30% of remittances. He also confirmed that the central bank bought $1 billion in dollars last month without causing a price spike.

Despite progress, he admitted concerns over inflation and warned that 30% of loans may default by June. Talks with the government on merging five troubled banks will begin Sunday.

NVIDIA reported record revenue of $46.7 billion for Q2, a 56% increase year-over-year, largely fueled by AI data center demand. However, two customers contributed 39% of the total revenue, referred to as Customer A (23%) and Customer B (16%). Four other clients added 46% collectively. These customers are mainly OEMs, system integrators, or distributors, with cloud providers like Google and Amazon buying indirectly. Analysts caution that heavy reliance on few customers poses risks but foresee continued strong spending.

Bangladesh now has the highest rate of default loans in Asia, according to the latest report by the Asian Development Bank (ADB).

The report reveals that in 2024, a staggering 20.2% of all disbursed loans in Bangladesh turned into defaults, amounting to $20.27 billion—an alarming 28% increase compared to the previous year. The ADB has labeled Bangladesh as having the “weakest banking system in Asia.”

Within just one year, the country’s default loan ratio jumped by 11.2 percentage points, while neighboring countries like India, Pakistan, and Sri Lanka managed to reduce their bad loan proportions. Nepal saw only a slight increase of 0.9%.

Highlighting India’s case, the report notes that large-scale banking reforms helped bring its non-performing loans down from 3.4% to 2.5%.

The ADB advised Bangladesh to urgently adopt strict legislation, strengthen financial markets, implement swift policy actions, modernize the judicial system, and ensure transparency and investor confidence. Only then, it warned, can the mounting loan default crisis be brought under control.

Executive Chairman of the Bangladesh Investment Development Authority (BIDA), Ashik Chowdhury, has unveiled an ambitious vision to transform Matarbari and Maheshkhali into world-class commercial hubs akin to Shanghai and Singapore within the next 30 years.

The project, covering 33,000 acres, will be implemented in three phases—2025 to 2030, 2030 to 2045, and 2045 to 2055. Chowdhury stated that within the next 120 days, all administrative groundwork will be completed.

Once operational, the mega-project is expected to generate 2.5 million jobs and position Bangladesh as a global maritime hub.

The chairman of First Security Islami Bank (FSIB), Abdul Mannan, has accused S. Alam Group of siphoning off nearly Tk 38,000 crore through anonymous loans from the bank.

Speaking after a meeting with the Bangladesh Bank governor, Mannan said multiple audits confirmed the embezzlement, with much of the money already laundered abroad. He named Saiful Alam, chairman of S. Alam Group, as the prime beneficiary.

The massive loan default has pushed FSIB into a severe crisis. Bangladesh Bank is reportedly planning to merge five weak banks, including FSIB, raising concerns over job security for employees and deposit safety for customers.