Customers of Islami Bank Bangladesh held a human chain and protest in Chattogram on Tuesday demanding the removal of the bank’s chairman, Khurshid Alam. The demonstration took place around 11 a.m. in front of the bank’s regional office in Agrabad under the banner of the Islami Bank Conscious Customers Forum.

Participants alleged that the current management system of the bank does not adequately protect customer interests and called for the chairman’s removal. They urged authorities to intervene and ensure good governance, transparency, and accountability within the institution. Protesters emphasized the need to restore customer confidence and safeguard depositors’ expectations.

Leaders of the Islami Bank Conscious Customers Forum and clients from various professions joined the event. Police from Double Mooring Police Station maintained a watchful presence to ensure order, and the protest concluded peacefully with participants leaving the area afterward.

India and Oman’s Comprehensive Economic Partnership Agreement (CEPA) came into effect today amid the ongoing US-Iran war that has severely disrupted maritime traffic through the strategically vital Strait of Hormuz. The pact, signed during Indian Prime Minister Narendra Modi’s visit to Muscat in December last year, grants duty-free access for India’s labor-intensive exports to Oman. Indian Commerce and Industry Minister Piyush Goyal announced the implementation, calling it a milestone for expanding markets, boosting exports, attracting investment, and creating jobs.

The Hormuz Strait handles about 20 percent of global oil consumption and 25 percent of seaborne oil trade, but conflict has tightened Iranian control, disrupting India’s energy imports from Gulf states. Oman’s ports, including Salalah and Duqm, remain operational due to their location outside the strait, making Oman a reliable trade and energy route during regional instability.

Under CEPA, Oman will eliminate tariffs on 98.08 percent of its tariff lines, covering 99.38 percent of India’s exports, while India will reduce or remove tariffs on 78 percent of its lines. The agreement is expected to strengthen bilateral trade, though Oman’s small market size may limit export growth.

Global crude oil prices fell slightly as traders focused on uncertainty surrounding ongoing discussions between the United States and Iran. According to a Reuters report, Brent crude dropped by 75 cents to 94.23 dollars per barrel, while West Texas Intermediate (WTI) declined by 85 cents to 91.31 dollars. The price drop followed a sharp rise just a day earlier.

The report noted that despite a price increase on Monday, oil prices had fallen by more than 16 percent in May amid hopes for a broader agreement between Washington and Tehran and the continuation of a ceasefire. Market participants had expected that such an agreement could boost Iranian oil exports and increase global supply.

Senior market analyst Priyanka Sachdeva said that although traders had hoped the potential deal would reduce uncertainty, no significant change in market conditions was observed as of Tuesday morning.

The Department of Social Services (DSS) under the Ministry of Social Welfare has issued a revised recruitment circular for 1,485 positions across 52 categories under the revenue sector. The online application process, to be completed through Teletalk Bangladesh Limited’s designated website, opened on June 2, 2026, at 10 a.m. and will continue until June 23, 2026, at 5 p.m. Both male and female candidates aged between 18 and 32 years as of June 1, 2026, are eligible to apply, with certain departmental candidates receiving age relaxation.

The circular covers a wide range of posts from grade 13 to grade 20, including positions such as principal assistant, computer operator, field supervisor, social worker, and office assistant. Applicants who previously applied under the March 27 and June 9, 2024, notices for the same posts do not need to reapply. Application fees range from 56 to 112 taka depending on the post category, payable via Teletalk prepaid numbers within 72 hours of form submission.

Detailed information and the application form are available through the DSS official website at https://dss.gov.bd/pages/notices.

Bangladesh Bank spokesperson Arif Hossain Khan confirmed on Tuesday that the wife of Islami Bank Chairman Khurshid Alam has defaulted on a loan taken under her company’s name from First Security Islami Bank. The loan, amounting to 30 million taka, has remained unpaid for a long period. However, there is no loan registered under Khurshid Alam’s own name.

The report indicates that the defaulted loan is tied to the wife’s business entity, but it remains unclear whether Khurshid Alam acted as a guarantor for the loan. The disclosure comes amid broader concerns over rising non-performing loans in Bangladesh’s banking sector.

Bangladesh Bank data show that defaulted loans have increased by 310 billion taka over the past three months, reflecting growing pressure on the financial system.

In Sherpur upazila of Bogura, fish traders and farmers have been severely affected after the owners suddenly closed the local wholesale fish market at midnight on Monday. The owners cut off electricity, water, and ice supply and blocked access roads with vehicles, halting all trading activities. As a result, traders, wholesalers, and fish farmers faced heavy financial losses, with some forced to sell fish at reduced prices or return unsold stock.

According to affected traders, around 50 vehicles carrying about 600 maunds of fish were traded daily before the closure. They had started operations only six months ago under a three-year agreement, but the owners unilaterally shut down the market without prior notice. The disruption has sparked widespread concern among traders and locals, who fear damage to the local economy if the issue remains unresolved.

Former association president Abdul Hannan Bepari said the owners had long sought to move the business to another site, while owner representative Ranjila Parvin stated that the land lease was withdrawn in the community’s interest and traders were offered refunds, which they declined.

Customers of Islami Bank have resumed protests in Dhaka demanding the resignation of newly appointed chairman Khurshid Alam and all board members, along with the reinstatement of former managing director Omar Farooq Khan. The demonstration began at 9 a.m. Tuesday in front of Islami Bank Tower in Motijheel under the banner of the Conscious Customers Forum. Law enforcement agencies have been deployed in large numbers, including water cannons and armored vehicles, to maintain order.

Protesters expressed concern over recent changes in the bank’s board and the appointment of the new chairman, calling for transparency in management. Witnesses reported that customers, shareholders, and people from various professions gathered at the site, chanting slogans and voicing their demands. On Monday, a similar protest and human chain were held at the bank’s headquarters, where clashes reportedly occurred between demonstrators and police.

The unrest follows the resignation of former chairman Professor M. Zubaidur Rahman on May 24 and the subsequent appointment of Khurshid Alam, a former deputy governor of Bangladesh Bank. The board later accepted Omar Farooq Khan’s resignation in a virtual meeting chaired by Alam.

The Directorate of National Consumer Rights Protection in Sirajganj fined several transport operators on June 2, 2026, for charging passengers excessive fares during the post-Eid return journey. The joint operation with the Rapid Action Battalion took place between 11 a.m. and 2 p.m. at Jamuna Bridge West Circle and Soydabad areas. Five CNG auto-rickshaw drivers and two bus supervisors from SI Paribahan and Jamuna Line Paribahan were fined a total of 18,000 taka. Additionally, 24,000 taka in overcharged fares was refunded to passengers on the spot.

Passengers reported that regular fares of 300–350 taka had risen to 500–600 taka, with some being asked to pay more for seats. Bus supervisors cited increased fuel prices and empty return trips as reasons for the higher fares. Highway police officials said traffic on the Jamuna Bridge western highway remained normal without congestion, and no formal complaints had been received.

Officials confirmed that joint task force operations to protect passenger rights and monitor transport fares will continue in the coming days.

After Eid-ul-Azha, leather trading has intensified across Rajshahi, Natore, Naogaon, and Chapainawabganj, but small and seasonal traders are facing severe losses due to non-implementation of government-fixed prices. At Natore’s Chakbaidyanath leather market, many traders returned unsold hides or sold them at a loss, with salted cowhides fetching Tk 900–1,000 and unsalted ones Tk 600–800, though most sold for much less. Goat hides saw almost no buyers, and traders reported prices as low as Tk 300–600 per cowhide in some areas.

Wholesalers argued that poor-quality and disease-affected hides reduced prices, while traders blamed a market syndicate and lack of enforcement. The Rajshahi Leather Traders Group acknowledged weak market conditions, with many small traders still holding unsold stock. Experts noted that recurring crises stem from inadequate preservation systems, weak tannery capacity, and lack of transparency in market management.

Economists and traders urged coordinated action among collectors, wholesalers, and tanneries to ensure fair prices and transparency. Authorities said they are monitoring to prevent cross-border smuggling, while stakeholders warned that without price enforcement, small traders, madrassas, and orphanages will suffer most.

In Chattogram, large quantities of sacrificial animal hides have gone to waste again this year, continuing a trend since 2018. Seasonal traders abandoned the market after failing to get fair prices, blaming a powerful syndicate and poor coordination by the Ministry of Commerce. They said the recurring losses are breaking the rawhide supply chain and damaging the national economy.

Industry sources cited several reasons for the sector’s ongoing crisis, including the non-operation of the central effluent treatment plant in Savar, which limits Bangladesh’s competitiveness in international markets. Traders also criticized the government’s annual price-setting process for salted rawhide, claiming it ignores real market conditions and involves participants with little connection to the industry. As a result, confusion spreads among seasonal traders, who often buy hides at inflated rates and incur losses.

Local tannery owners and traders said the government’s fixed prices—ranging from Tk 56 to 67 per square foot—do not reflect actual trading values. They urged authorities to monitor tannery purchases and focus on rebuilding domestic and international markets to revive the struggling leather industry.

During the Eid-ul-Azha holidays, many rural areas of Bangladesh faced severe power outages lasting up to 8–10 hours, causing widespread suffering among residents. Districts such as Bhola, Chandpur, Noakhali, Feni, Rangpur, Patuakhali, Munshiganj, Satkhira, and Jashore were among the worst affected. In some places, locals protested in front of electricity offices. Officials from the Power Division attributed the disruptions to damage caused by seasonal storms that toppled poles and severed transmission lines.

The Power Division stated that electricity demand was low during the holidays due to the closure of offices and factories, but storm damage limited supply to about 5,500 megawatts. Maintenance teams were deployed nationwide, and most transmission lines were repaired within two days. The Power Development Board reported that assessments of total damage were still underway.

Separately, the government reimposed its directive requiring all shopping malls, markets, and shops to close by 7 p.m. from June 1 to conserve electricity. The temporary extension to 10 p.m. for Eid shopping had expired, and the rule now also applies to billboards, fairs, and cultural events.

Islami Bank Bangladesh held a virtual board meeting late Monday night under what reports described as pressure from Bangladesh Bank. The meeting, chaired by newly appointed chairman Khurshid Alam, lasted about 40 minutes and included five board members. During the session, the resignation of Managing Director Omar Faruk Khan was accepted, and Altaf Hossain was assigned as acting MD until a new appointment is made.

According to Bangladesh Bank spokesperson Arif Hossain Khan, the meeting was held with the central bank’s permission, and no direct pressure was exerted. He clarified that online meetings can be conducted outside regular banking hours. The meeting was originally planned to be held in person but was shifted online due to protests by customers outside the bank’s head office in Dhaka.

Earlier in May, former chairman M. Zubaidur Rahman resigned, and Khurshid Alam, a former deputy governor of Bangladesh Bank, was appointed as the new chairman. His appointment has faced opposition from a political faction linked to the bank, leading to ongoing demonstrations, including Monday’s protest in Dhaka.

Bangladesh Bank has permitted Islami Bank to conduct a board meeting online, despite its own 2024 directive that prohibited virtual meetings for all banks. The meeting was called to introduce the bank’s newly appointed chairman, Khurshid Alam, who replaced M. Zubaidur Rahman after Rahman resigned on the central bank’s advice. However, the meeting could not take place due to protests by depositors under the Islami Bank Customer Forum, who gathered at the bank’s head office demanding the chairman’s removal and the return of allegedly laundered funds.

According to the report, police officers were seen urging the bank’s managing director to proceed with the online meeting, while protesters demonstrated outside his office. The Bangladesh Bank spokesperson stated that a political party was interfering in the bank’s affairs and warned that no political influence would be tolerated in banking decisions.

As of the report’s publication, protests continued outside Islami Bank’s headquarters, and the customer forum announced plans for human chains in front of all branches nationwide the following day.

The government of Bangladesh has reinstated its directive requiring all shopping malls, markets, and shops across the country to close by 7pm, effective June 1. The same restriction applies to lighting on billboards, as well as to ongoing and upcoming fairs, trade fairs, and cultural events, which must also conclude by 7pm. Officials from the Power Division said the measure aims to conserve electricity.

The Power Division’s Coordination-2 branch issued the order on Monday, sending it to all city corporation mayors, administrators, divisional commissioners, and district commissioners for implementation. The earlier 7pm closing rule had been temporarily relaxed to 10pm during the Eid-ul-Azha period to facilitate business activities.

With the end of the Eid concession, the previous schedule has been reimposed. The Power Division has requested all relevant administrative authorities to take necessary steps to ensure compliance with the directive.

Bangladesh Postal Department’s mobile financial service Nagad achieved multiple transaction records in May 2026, marking the highest monthly total in its history. The company processed transactions worth Tk 44,639 crore during the month, surpassing its previous record of Tk 41,469 crore in March. Daily transaction records were also broken several times before Eid-ul-Azha, with the highest single-day total reaching Tk 2,177 crore on May 26.

Officials attributed the surge to increased financial activity around Eid, including cash-in, cash-out, remittance receipts, mobile recharges, bill payments, and shopping transactions. Nagad also played a key role in distributing government allowances and benefits during the month. Administrator Md. Motasim Billah said Nagad’s low transaction costs and free send-money service have made it highly popular among users, helping to build trust and sustain growth.

According to Billah, technological improvements have strengthened transaction security, further boosting customer confidence. Since its inception, Nagad has aimed to digitize financial services, accelerate rural economic activity, and expand financial inclusion across Bangladesh.