Bangladesh Bank has authorized Rupali Bank to release the remaining $3,197,561 from an approved foreign-currency syndicated loan to S Alam Group affiliate SS Power-1 Limited and to open new letters of credit. The central bank issued the notification on Wednesday, August 19, 2026, after previously permitting the company to open LCs on Sunday.

The notification, signed by Deputy Governor Md Kabir Ahmad, invokes powers under Section 121 of the Bank Company Act, 1991. It says Section 27ka(3) of the law will not apply to the loan disbursement and LC opening for SS Power-1. That provision ordinarily prevents a group entity from receiving new credit or credit facilities when the group is a loan defaulter.

Bangladesh Bank said neither the government nor the central bank will assume liability for any loan or financing provided under the facility. Lending banks or financial institutions will not be able to seek future financial support from the government or Bangladesh Bank against such loans. The source also cites allegations that S Alam Group took control of seven banks and one financial institution and borrowed heavily under various names.

Sugarcane cultivation is declining in Muksudpur upazila of Gopalganj as farmers lose interest amid what they describe as a lack of government support. The crop was once widely grown across the area, meeting local demand and being supplied to Dhaka and other parts of the country. Although farmers report good yields and prices, only 35 farmers are now involved in cultivation.

The upazila agriculture department set a target of growing sugarcane on 22 hectares this year, but cultivation has reached only 19 hectares. Farmer Md Idris Molla, who has grown sugarcane for 40 years, said the crop carries lower risk and offers higher profit than other crops, but growers receive little follow-up from the agriculture office. He called for free pesticides and fertiliser similar to support provided for other crops.

Farmer Moktar Sheikh said he cultivated one acre this year at a cost of Tk60,000 and expects about Tk80,000 in profit. He said growers must sell in markets because there is no sugar mill in the area. Agriculture officer Md Mizanur Rahman said the region is outside sugar-mill coverage, so no government incentives are available for growers.

Bangladesh Financial Intelligence Unit (BFIU) has instructed suspicious transaction reporting entities to immediately provide information on frozen bank accounts and any accounts linked to them. The directive was issued on Wednesday, according to a report published on 19 August 2026.

Under the instruction, when an entity receives an order to suspend an account after filing a suspicious transaction report on it, it must promptly inform BFIU of the account’s current status. It must also submit information about other accounts associated with the suspended account.

The measure expands reporting beyond the individual account subject to a freeze. It is intended to give BFIU a broader picture of the financial transactions and accounts of people or institutions connected to suspicious activity. Relevant stakeholders believe the information could make it easier for the unit to identify and investigate potential money-laundering networks.

More than 500,000 barrels of Venezuela’s daily oil output are being sent to refineries across the United States, according to US Under Secretary of Energy Kyle Housetveit. He disclosed the figure at an energy conference in Texas on August 19, 2026. Venezuela produces about 1.25 million barrels of oil per day, meaning exports to the United States account for a substantial share of its production.

Housetveit said the US refineries receiving the crude were largely designed to process Venezuela’s heavy crude oil. He also said the United States is assisting Venezuela in increasing oil production and that both countries are benefiting from the process.

Venezuela holds the world’s largest oil reserves, but long-running investment shortages and US sanctions had limited its contribution to global demand. Oil production and exports have begun rising again since recent political changes and the formation of an interim government. International groups and research organizations have raised concerns over transparency in the use of oil-sale revenue and the exclusion of the main opposition party from talks with the interim government.

Bangladesh and Malaysia held a meeting in Putrajaya on Tuesday to strengthen cooperation in tourism and explore new opportunities in the sector. Bangladesh State Minister for Civil Aviation and Tourism M. Rashiduzzaman Millat met Malaysian Deputy Minister for Tourism, Arts and Culture Chiew Choon Man, according to a news release issued Wednesday.

The discussions covered increasing air connectivity between the two countries, simplifying and pre-verifying visa processes, building capacity and expanding cultural exchanges. The two sides also expressed views on sharing skills, experience and best practices to advance tourism development as part of wider mutually beneficial cooperation.

Both countries discussed cooperation on training and skills development in the hospitality sector. Particular emphasis was placed on increasing recruitment of trained Bangladeshi workers in Malaysia's tourism services sector. They also stressed stronger people-to-people contact and cultural exchange to deepen mutual understanding. Bangladesh High Commissioner to Malaysia Manjurul Karim Khan Chowdhury, along with senior officials from relevant Malaysian tourism bodies and the Bangladesh High Commission in Kuala Lumpur, attended the meeting.

Bangladesh Securities and Exchange Commission decided on August 18 to send 17 officials into compulsory retirement over alleged violations of service rules. The commission also reduced the salaries of five other officials to the lowest step or grade. The decisions were taken at a BSEC commission meeting after show-cause notices were issued to the accused officials on July 23.

According to BSEC sources, the measures followed a March 5 incident last year in which then chairman Khondkar Rashed Maqsood and several commissioners were allegedly confined for several hours. A government-directed investigation and departmental process recommended action against 23 officials. Punishment was implemented against 22 on Tuesday, while one other official had already been dismissed over a separate allegation.

Those retired compulsorily include Executive Director Rezaul Karim and officials from several ranks. Five employees, including assistant directors Johnny Hossain, Raihan Kabir, Tarikul Islam and Maksud Mila, received salary demotions. An unnamed affected official said the grounds for the decision were unclear and said legal action could be pursued. Officials were informed Tuesday, and many collected formal retirement letters at the BSEC office in Agargaon on Wednesday.

Information and Broadcasting Minister Zahir Uddin Swapan said halal food culture and values can become a major asset and source of strength for all human civilization, not only the Muslim world. He made the remarks on Wednesday at the “Think Halal, Grow Global” seminar organized by the Malaysian High Commission at an upscale hotel in the capital.

Swapan said the development of halal products and culture is not solely a religious or cultural issue, but is directly linked to the global economy and human welfare. He noted that halal food has a large global market and said consumers and investors are prepared to use the sector’s potential. He urged entrepreneurs, investors, traders and relevant institutions to work in coordination.

The minister said Bangladesh and Malaysia share values in religious and social spheres and could jointly expand the halal industry and its global market reach. He said clear ideas, information, knowledge and business structures were needed for investors. Malaysian High Commissioner Mohammad Shuhada Othman and Bangladesh Malaysia Chamber of Commerce and Industries President Anwar Shahid also spoke at the seminar.

India’s ultra-wealthy are increasingly seeking permanent residence and citizenship abroad, shifting from earlier motives such as business expansion or children’s higher education toward long-term wealth management and security planning. The trend was reported on August 19, 2026, citing data from investment-migration advisory firm MyRCBI.com.

According to the firm, global geopolitical uncertainty, changing tax policies in different countries and the experience of the COVID-19 pandemic have prompted affluent Indian families to value international mobility as an important asset. Founder and CEO Dhananjay Singh Chudasama said investment-based migration is increasingly viewed as a strategic decision offering freedom of movement, international opportunities for future generations and a practical “Plan B” if circumstances change suddenly.

Applicants mainly include entrepreneurs with businesses valued above 100 crore rupees, managing directors and CEOs of financial institutions, and corporate executives earning salaries above one crore rupees. Popular destinations include the United States, Portugal, Greece, the United Arab Emirates and several Caribbean countries. MyRCBI.com expects demand in India to rise significantly over the next two to three years, with Gujarat emerging after Maharashtra as a key market.

The Bangladesh Securities and Exchange Commission (BSEC), the country’s capital-market regulator, has ordered the compulsory retirement of 17 officials and reduced the salaries of five others to the lowest level. The decisions were taken at a BSEC commission meeting on Tuesday, August 18, according to the report published on August 19, 2026.

Those sent into compulsory retirement include Executive Director Rezaul Karim; directors Abul Hasan and Mohammad Fakhrul Islam Mazumdar; additional directors Nazrul Islam and Molla Md. Miraj Us Sunnah; and Joint Director Rashedul Alam. The list also includes several deputy directors, assistant directors and personal officers.

The five employees whose pay was downgraded are Assistant Directors Johnny Hossain, Raihan Kabir, Tariqul Islam and Maksud Mila, along with librarian Selim Reza Bappi. Earlier, on July 23, BSEC issued show-cause notices asking the accused officials why disciplinary action should not be taken. The commission had also sent Director Abu Raihan Md. Mohtasin Billah into compulsory retirement earlier this year.

US President Donald Trump has temporarily suspended a proposed 50 percent tariff on Canadian goods following last-minute talks with Canadian Prime Minister Mark Carney. The announcement came shortly before the measure was due to take effect on Tuesday, August 19, 2026. Trump said the tariff would not be implemented until August 22, while details of the reported agreement have not been released.

The proposed duties were set to cover about $20.2 billion in Canadian products, including electronics, industrial machinery, furniture, dairy goods and wine. Trump linked the discussions to reviving the long-disputed Keystone XL pipeline. Carney said the talks had made significant progress, but that important work remained.

About 70 percent of Canadian exports depend on the US market, meaning the tariffs could have harmed several export sectors. The tariff dispute has also increased anti-US sentiment in Canada. Experts cited in the report said concerns over economic losses, alongside protecting national sovereignty, have become important issues for Canadians.

Bangladesh’s Financial Reporting Council (FRC), the body overseeing audit firms and auditors, is facing operational constraints because permanent staff recruitment is stalled by litigation and four proposed regulations remain unapproved. The FRC began operations in April 2016 but has yet to appoint permanent personnel, relying on 25 to 30 student interns. Its chairman, Sajjad Hossain Bhuiyan, resigned after being appointed an Anti-Corruption Commission commissioner on Monday, raising concerns about further delays until a new chairman is named.

The FRC submitted four regulations to the Finance Division nearly a year ago: administrative penalties, financial statement submission, accounting and appellate authority, and chartered legal fees. Joint Secretary Syed Rashedul Hossain said work on the administrative penalties regulation was complete and it was being sent to the Law Ministry for vetting, while amendments to the other three were under way.

A recruitment notice for 57 posts was issued on December 31, 2025, but a court case halted the process. The FRC has sought approval to recruit the remaining 93 of 150 proposed staff. Until an appellate authority is formed, aggrieved parties may seek review from the FRC Council under an August 11 notice.

Bangladesh’s garment sector is producing about 30% to 35% less because of gas and electricity shortages, according to Mahmud Hasan Khan, president elected for the 2025-27 term of the Bangladesh Garment Manufacturers and Exporters Association. In an interview published on August 19, 2026, he identified energy supply as the industry’s most urgent problem, ahead of high interest rates and frequent policy changes.

Khan said factories are extending working hours to 12 to 13 hours from a normal nine to 10 hours to maintain production and prevent order cancellations. He said this raises business costs and can make factories non-compliant. He also said weaker purchasing power in Europe and the United States, linked in his account to wars, energy costs and inflation, has reduced clothing demand and orders.

International buyers are unlikely to raise prices when lower-cost suppliers are available, Khan said, citing India, Cambodia, Pakistan and China. BGMEA has asked the government to lower interest rates or provide low-cost funds, while Bangladesh Bank has already taken an initiative. Khan said the government has indicated a permanent solution could take at least two years, during which Bangladesh could lose market share.

Defaulted loans at Bangladesh’s five state-owned banks rose by Tk6,304 crore in the first six months of the current government, despite efforts to reduce bad debts and policy support from Bangladesh Bank. At the end of June, combined defaulted loans at Sonali, Janata, Agrani, Rupali and BASIC banks stood at Tk151,343 crore, up from Tk145,039 crore in December. The BNP formed the government on February 17 after winning the 13th parliamentary election.

Agrani Bank recorded the largest increase, with defaulted loans rising Tk3,518 crore to Tk32,133 crore. Janata Bank’s bad loans increased Tk3,020 crore to Tk75,558 crore, the highest among the five banks. Its top 20 borrower groups account for Tk52,418 crore, or about 72 percent, of total defaulted loans. Rupali’s defaulted loans rose Tk159 crore, while Sonali’s fell to Tk15,710 crore and BASIC’s declined to Tk8,152 crore.

Bank officials cited borrowers’ unwillingness to repay, slow legal processes and weakened recovery efforts after political changes. Agrani’s managing director said roughly half of its bad loans are held by its 20 largest borrowers. The report said no major effective government initiative on state-bank reform, governance or loan recovery had become visible during the first six months.

Global oil prices rose for a fourth consecutive day as prospects for peace between the United States and Iran appeared to weaken, heightening concerns over energy supplies. At 00:04 GMT on Wednesday, Brent crude gained 26 cents, or 0.29%, to $91.28 a barrel. US West Texas Intermediate crude rose 37 cents to trade at $85.31 per barrel.

Both crude benchmarks had reached their highest levels since July 24 at the close of trading on Tuesday. The source said diminishing prospects for US-Iran peace talks had created concern in the market about oil supply.

Investors were closely monitoring developments amid conflicting statements from Washington and Tehran concerning ship movement through the Strait of Hormuz. The report linked the continued price gains to these supply worries and the reduced likelihood of peace between the two countries.

Bangladesh has not converted its comparatively favorable US tariff position into higher garment orders as buyers move away from China, according to the report published in Chattogram on August 19, 2026. Under a new US tariff structure effective July 24, Bangladesh’s effective total tariff rate is about 25.6 percent, compared with 28.1 percent for Vietnam and 35.6 percent for China. Yet Bangladesh’s US apparel exports in the first five months of 2026 fell 8.1 percent year on year to more than $3.25 billion.

Analysts cited limited product diversification, weak capacity in man-made fiber garments, and port and customs complications that extend delivery times. Five basic categories—trousers, T-shirts, woven formal shirts, underwear and sweaters—generate 78 percent of Bangladesh’s apparel exports, while about 95 percent of factories make these products. In 2025, man-made-fiber products accounted for 57 percent of US apparel imports.

Vietnam exported $6.39 billion in apparel to the United States during the same five-month period, up 1.5 percent. Indonesia and Cambodia recorded export growth of 5.49 percent and 14.9 percent respectively. Bangladesh’s EU apparel exports also fell 19.33 percent in the first four months of 2026.