Depositors of five merged Shariah-based banks staged a sit-in in front of Bangladesh Bank on Thursday morning, demanding the return of their deposits and cancellation of a profit reduction decision. The demonstration began around 10 a.m. and included slogans and speeches criticizing the central bank’s previous policy. Law enforcement took strict positions around the area to maintain order.

Speakers at the human chain alleged that a former governor of Bangladesh Bank decided to cut profits on deposits from the past two years, offering only a 4 percent government concession instead. They described the move as inhumane and unfair, claiming many depositors have been unable to withdraw their principal or profits for two years, leaving families in severe financial distress.

Protesters demanded full repayment of deposits with profits for 2024 and 2025 and called for normal banking operations at the unified Islamic bank. They warned that if their demands are not met, they will besiege Bangladesh Bank on March 12.

After remaining closed for four years, the Shahjibazar 330-megawatt combined cycle power plant in Habiganj has resumed partial electricity production. The plant had been shut down since a fire on May 29, 2022, damaged its transformers. Due to a funding delay of about 4.5 crore taka, the government reportedly incurred losses of around 20,000 crore taka during the closure. Following approval of a 111.18 crore taka repair proposal in August 2025, Chinese firm Sepco-111 Electric Power Construction began restoration work and partially restarted one unit on February 27.

Currently, one unit with a capacity of 110 megawatts is supplying 40 megawatts to the national grid. Chief engineer Abdul Mannan stated that output could reach 165 megawatts within the month, potentially saving about 8 crore taka daily. The gas-based plant, inaugurated in 2017 after commercial operation began in 2016, had previously produced power at a significantly lower cost than furnace oil-based generation.

Officials expect the partial resumption to improve the national power supply situation after years of reduced capacity.

Production at two major fertilizer factories in Chattogram—Chittagong Urea Fertilizer Limited (CUFL) and Karnaphuli Fertilizer Company Limited (KAFCO)—was temporarily halted from 3 p.m. Wednesday following a government directive due to an ongoing gas shortage. Authorities said the decision was made after gas pressure dropped to levels that made normal production impossible.

According to factory sources, CUFL typically produces around 1,100 to 1,200 metric tons of urea fertilizer daily, while KAFCO has a daily capacity of about 1,725 metric tons of urea and 1,500 metric tons of ammonia. With gas supply suspended, this large-scale production has been stopped. Officials explained that fertilizer production is entirely gas-dependent, and operating under low pressure could damage machinery, prompting the temporary shutdown for safety reasons.

Although the sudden halt has raised some concern about fertilizer supply, officials assured that production will resume quickly once gas supply stabilizes to ensure market availability.

Energy economist Ed Hirs has warned that global oil prices could soar to 150 dollars per barrel due to ongoing military operations by the United States and Israel against Iran. Speaking to Al Jazeera, the University of Houston lecturer said that if even half of the oil shipments through the Strait of Hormuz are disrupted, prices could reach that level. He cautioned that such a scenario could occur if the US Navy fails to ensure the safety of tankers navigating the strait.

Hirs noted that the impact is already visible in the liquefied natural gas (LNG) market, where prices rose by more than 40 percent on the first day of the attacks. Between Monday and Tuesday, natural gas prices in several European countries nearly doubled. Diesel prices have also increased sharply, prompting gas-dependent nations to stockpile petroleum, which is affecting future energy orders in some US states.

He further warned that the New England region of the United States could face significant challenges, potentially increasing domestic pressure on the Donald Trump administration ahead of the upcoming midterm elections.

The closure of the Hormuz Strait following a joint US-Israel attack on Iran has triggered global concerns over energy supply disruptions. The strait, a key route for global oil transport, has been shut down for strategic reasons, leaving at least 700 oil tankers stranded in Middle Eastern ports. Among them is a vessel carrying 100,000 tons of crude oil for Bangladesh Petroleum Corporation’s Eastern Refinery, which remains stuck at Saudi Arabia’s Ras Tanura port. Another shipment scheduled from the UAE on March 22 is also at risk of delay, raising fears of a raw material shortage at Bangladesh’s only state-owned refinery.

Eastern Refinery officials warned that if crude oil shipments fail to depart within the next week, production could halt, intensifying pressure on Bangladesh’s fuel market. Energy experts have urged immediate exploration of alternative routes and suppliers, suggesting Abu Dhabi’s Zayed Port and refined oil imports from Singapore, Malaysia, China, or Indonesia. Current reserves can sustain operations for about a month, but prolonged disruption could severely impact national energy security.

Fuel prices have already surged globally, with diesel rising from USD 85 to 118 per barrel within days, reflecting the mounting crisis.

Bangladesh’s economy is under severe strain due to declining investment, employment shortages, revenue deficits, and falling export earnings. The situation has worsened following a joint U.S.-Israel attack on Iran that triggered regional conflict, driving up global oil and LNG prices and threatening supply chains. Iran’s retaliatory strikes on neighboring Gulf countries have further destabilized the Middle East, raising fears of a deep economic crisis in Bangladesh if the conflict continues.

Analysts note that Bangladesh is almost entirely dependent on imported crude oil and LNG, mainly from Saudi Arabia, the UAE, and Qatar. The closure of the Strait of Hormuz and production halts in Qatar have disrupted supply routes, pushing prices higher. Experts recommend austerity measures, prioritizing essential spending, and exploring alternative energy sources such as Malaysia and Brunei. They also urge short- and medium-term plans to ensure energy and food security.

The conflict threatens remittance inflows from the Middle East, where about one million Bangladeshi workers are employed, and could disrupt garment exports to Europe due to shipping route blockages. Analysts warn that prolonged instability may severely impact reserves, trade balance, and currency stability.

The Ministry of Social Welfare has finalized the 'Family Card Piloting Implementation Guideline-2026', which will be officially launched by Prime Minister Tareq Rahman on March 10 at the Karail slum in Dhaka. The program was initially planned for Bogura but was shifted due to the upcoming by-election in Bogura-6. The finalized policy excludes families with government pensioners, car or air-conditioner owners, government employees, and large business owners from eligibility.

According to the guideline, priority will be given to landless and homeless families, households with disabled members, and marginalized groups such as hijra, bede, and ethnic minorities. Eligible women beneficiaries will receive funds directly into their mobile wallets or bank accounts. The existing TCB card will be integrated into a dynamic social registry, enabling access to food aid and future benefits like education stipends and agricultural subsidies.

The pilot project will cover 13 diverse areas with a budget of 21.1 million taka, aiming to reach 6,500 poor families initially and expand to 20 million families. The long-term goal is to transform the Family Card into a universal social ID card by 2030.

A European Union official stated on Wednesday that the ongoing war involving Iran has not disrupted Europe's oil supply. Despite the conflict, the official noted that oil continues to flow normally to EU member states. However, the rising price of oil remains a major concern for the bloc, as it could affect economic stability if the trend continues.

According to Reuters, the official added that EU member states are not planning any immediate measures in response to the current oil market situation. The statement comes amid reports of nearly 200 tankers stranded in the Persian Gulf due to the closure of the Strait of Hormuz, and other regional tensions including a Hezbollah attack on Israel Aerospace Industries’ headquarters.

The EU’s position suggests a cautious approach, focusing on monitoring market developments rather than taking emergency action at this stage.

Israel’s Ministry of Finance reported that the country could face economic losses of about $3 billion per week due to the ongoing war with Iran. The ministry stated on Wednesday that restrictions under the Home Front Command’s ‘red’ alert have limited workplace attendance, closed schools, and mobilized reserve forces, leading to an estimated weekly loss of 9.4 billion shekels starting next week.

The conflict intensified after a joint U.S.-Israel strike in Iran last Saturday killed Iran’s Supreme Leader Ayatollah Ali Khamenei and several senior officials. In response, Tehran launched retaliatory attacks targeting U.S. bases and Israeli facilities across the Middle East, according to Reuters.

The ministry’s projection highlights the severe economic strain Israel faces as military operations and emergency restrictions disrupt normal economic activity.

QatarEnergy, the world’s largest producer of liquefied natural gas (LNG), has declared force majeure for its affected buyers after halting LNG and related product output. The company announced on Monday that production at its facilities in Ras Laffan Industrial City and Mesaieed Industrial City was suspended due to military attacks on those sites.

According to QatarEnergy, the force majeure declaration releases it from liability for failing to meet supply obligations caused by events beyond its control. The announcement immediately triggered a sharp reaction in global energy markets, with benchmark Dutch and British wholesale gas prices rising by about 50 percent, and benchmark Asian LNG prices increasing by roughly 39 percent.

Given Qatar’s central role in global LNG supply, the production shutdown has had a significant impact on international energy markets, intensifying concerns over supply stability and price volatility.

City Bank PLC, one of Bangladesh’s leading sustainable banks, has signed the United Nations Principles for Responsible Banking (PRB), becoming a member of the UN Environment Programme Finance Initiative (UNEP FI). The announcement was made on March 4, 2026. Through this move, City Bank aims to align its operations with global standards for sustainable finance and responsible banking practices.

The PRB, developed by UNEP FI in collaboration with banks worldwide, provides a global framework for aligning banking strategies with the Sustainable Development Goals (SDGs) and the Paris Agreement on climate change. Established in 1992, UNEP FI connects financial institutions with the United Nations to advance sustainable finance, currently working with over 550 banks and insurers globally.

As a PRB signatory, City Bank will integrate responsible banking principles into its business strategy, risk management, and decision-making processes. The bank will assess and disclose its environmental and social impacts, set measurable targets in key areas, and enhance transparency and accountability in line with international practices.

More than 4 million taxpayers have submitted online income tax returns for the 2025–26 fiscal year in Bangladesh, according to the National Board of Revenue (NBR). Of them, 2.2 million, or about 55 percent, filed zero returns, declaring income below the taxable threshold. Among these, 1.44 million are male and 765,197 are female taxpayers. The NBR noted that while income up to 350,000 taka is tax-free for general taxpayers, the limit is higher for women, senior citizens, third gender individuals, and persons with disabilities.

Despite being below the taxable limit, many taxpayers are required to file returns to access 24 types of services. The NBR warned that some individuals intentionally underreport income to file zero returns and may face legal action. Historically, up to 70 percent of returns were zero, indicating a decline this year. The NBR also provided detailed breakdowns of income ranges and surcharge payments.

Online e-filing has been made mandatory this fiscal year, except for elderly, disabled, expatriate, and certain other taxpayers. The filing deadline, extended for the fourth time, is now set for March 31, 2026.

Bangladesh Bank has postponed a scheduled meeting of its Monetary Policy Committee (MPC) that was set for Wednesday at noon to discuss a possible reduction in the policy interest rate. The meeting was called by the new governor, Mostakur Rahman, who recently took office and had planned to lower the policy rate by 50 basis points in the first phase. The proposed cut was expected to bring down lending rates across the banking sector.

The seven-member MPC is chaired by Governor Rahman and includes Deputy Governor Md. Habibur Rahman, Chief Economist Md. Akhtar Hossain, BIDS Director General A.K. Enamul Haque, Dhaka University Economics Department Chair Ferdousi Nahar, and Bangladesh Bank Executive Director Mahmud Salahuddin Naser. The only board-nominated member, Sadiq Ahmed, has reportedly resigned from the committee.

The previous governor, Ahsan H. Mansur, announced the last monetary policy last month, keeping the policy rate unchanged at 10 percent, a level maintained since October 2024. Inflation, which peaked at 11.38 percent in November, eased to 8.58 percent by January.

The National Board of Revenue (NBR) has formed a 10-member taskforce to strengthen VAT collection and prevent tax evasion during the final four months of the 2025–26 fiscal year, from March to June. The taskforce will prepare and implement a time-bound short-term action plan aimed at achieving revenue targets. The order to form the taskforce was issued by NBR’s VAT Implementation and IT Wing on Wednesday.

According to the directive, the taskforce will focus on enhancing revenue mobilization through comprehensive monitoring, preparing specific and time-bound plans for the next 180 days, and aligning its actions with the government’s sustainable development goals. It will also work on expanding the tax net, converting loss-making sectors into profitable ones, ensuring recovery of outstanding dues, and expediting the resolution of pending cases and audits. The taskforce is led by Md. Shamsul Islam, Commissioner of Customs, Excise and VAT Commissionerate, Dhaka (North), with Ruhul Amin as member secretary.

NBR is also forming separate taskforces for income tax and customs divisions to improve overall revenue performance. The move follows a shortfall of 600 billion taka in revenue collection during the first seven months of the fiscal year.

Bangladesh has sought assistance from the United States to address its ongoing energy crisis, according to Power, Energy and Mineral Resources Minister Iqbal Hasan Mahmud Tuku. He made the statement on Wednesday afternoon after a meeting at the Secretariat in Dhaka with Paul Kapur, the US Assistant Secretary of State for South and Central Asian Affairs, who is currently visiting Bangladesh.

The minister said that Paul Kapur would discuss the matter with senior US officials before conveying Washington’s decision to Bangladesh. He added that the government plans to manage the situation using existing fuel reserves until normal supply resumes. Emphasizing conservation, he urged citizens to use available resources efficiently and noted that the ministry would soon issue a detailed directive to guide the public during the crisis.

The meeting reflects Bangladesh’s efforts to secure international cooperation amid supply constraints, with the government focusing on prudent resource management until external support or supply stabilization occurs.