Safayat Arefin has been promoted to the position of Executive Director at Bangladesh Bank, effective November 19. Before this promotion, he served as Acting Managing Director of The Security Printing Corporation (Bangladesh) Ltd. Arefin began his career in 1999 as an Assistant Director at Bangladesh Bank and has since held key roles in several departments, including the Microcredit Regulatory Authority under the Ministry of Finance. He also served as General Manager overseeing finance, foreign procurement, research, and quality control. Arefin holds a master’s degree in Finance and Banking from the University of Dhaka and is a globally certified consultant in Business Solutions ERP SAP Germany, as well as a certified professional in public procurement from UNDP/CIPS, UK. Originally from Mirsharai, Chattogram, he has represented Bangladesh in various official and professional visits abroad.

Around 30,000 tons of Indian onions are reportedly rotting near the Bangladesh border after Dhaka temporarily suspended onion imports, leaving Indian exporters in severe distress. The affected consignments are mainly stored in West Bengal’s Malda and South Dinajpur districts, where traders had stocked onions anticipating regular exports to Bangladesh. With the ban in place, prices have plummeted to as low as 2 rupees per kilogram at the Mahadipur-Sonamasjid border, compared to 20–22 rupees in local markets. Exporters claim they had procured onions from Maharashtra’s Nashik region based on verbal commitments from Bangladeshi importers, who are now unable to take delivery. The suspension reportedly followed a notice from Bangladesh’s Department of Agricultural Extension under the Ministry of Agriculture on November 16. Local trade associations warn that if the border remains closed, many exporters could face bankruptcy due to the massive financial losses incurred.

Bangladesh Bank has advised five Islamic banks to reduce employee salaries and allowances by up to 20% as part of cost-cutting measures amid a severe liquidity crisis. The affected banks—First Security Islami Bank, Social Islami Bank, Union Bank, Global Islami Bank, and EXIM Bank—are set to merge into a new entity called 'Combined Islami Bank.' During a meeting chaired by Governor Ahsan H. Mansur, the banks requested BDT 1,000 crore in liquidity support, but the central bank approved only BDT 350 crore. Officials emphasized the need to reduce operational expenses and expedite the launch of the new bank. Around 16,000 employees work across these institutions, which have previously received BDT 35,300 crore in government assistance yet to be repaid. The new bank’s board will consist of seven members, chaired by Financial Institutions Division Secretary Nazma Mubarak, with equal representation from professional bankers, accountants, and lawyers as independent directors.

Around 30,000 tons of Indian onions are reportedly rotting at the Bangladesh border after Dhaka abruptly halted imports to protect local farmers. Exporters from West Bengal and Maharashtra, who had shipped onions to border points like Mahadipur, Petrapole, Ghojadanga, and Hili, are now facing heavy losses. The onions, purchased at around 16 rupees per kilogram and transported at a total cost of 22 rupees, are being sold for as little as 2 rupees per kilogram to avoid total spoilage. In Mahadipur alone, nearly 20,000 tons of onions are stuck, with traders employing workers daily to separate rotten stock. Exporters claim they acted on verbal assurances from Bangladeshi importers, making the sudden ban particularly damaging. Meanwhile, retail onion prices in Indian markets remain between 20 and 30 rupees per kilogram, and traders fear further price drops once stored stock reaches the market. Consumers and traders alike have criticized both state and central governments for mismanagement.

Bangladesh Bank has announced plans to introduce a new interoperable digital payment platform called the Inclusive Instant Payment System (IIPS) by July 2027, aiming to make the country’s financial transactions fully cashless. The initiative, supported by the Gates Foundation’s Mojaloop platform, will connect banks, mobile financial services (MFS), insurance companies, and other financial institutions under a unified system. Governor Ahsan H. Mansur stated that the system will enhance transparency, reduce corruption, and lower transaction costs by minimizing the need for cash-outs. The agreement for the platform was signed virtually for security reasons. Experts believe the system will formalize the informal economy and could boost Bangladesh’s GDP by 2.5% to 5.4%, equivalent to an additional $12–25 billion. Currently, the country spends around Tk 20,000 crore annually on cash handling and currency management, a cost expected to drop significantly once IIPS is operational.

Bangladesh Bank and commercial banks have collectively invested around Tk 12 trillion to promote cashless transactions across the country, according to a recent central bank report. The initiative includes building digital infrastructure, installing modern hardware and software, and expanding digital payment systems from cities to rural areas. Currently, about 45% of total financial transactions are conducted digitally, compared to 90% cash-based transactions previously. The move aims to reduce corruption, counterfeiting, and transaction risks while saving an estimated Tk 20,000 crore annually in cash printing and management costs. Despite progress, small-scale transactions remain largely cash-based, and cyber security has emerged as a major challenge due to low user awareness. The central bank is enhancing oversight, improving system security, and running awareness campaigns to encourage safer digital practices. Authorities believe that expanding digital payments will accelerate economic activity, formalize business operations, and increase government revenue by curbing illegal cash transactions.

Bangladesh Bank has introduced a new interoperable digital transaction system from November, allowing seamless money transfers among mobile financial services (MFS) such as bKash, Nagad, and Rocket, as well as between banks and payment service providers (PSPs). The initiative aims to reduce transaction costs and promote a cashless economy. Under the new fee structure, transferring BDT 1,000 from an MFS account to another MFS, bank, or PSP account will cost BDT 8.50, while bank-to-bank or bank-to-MFS transfers will cost BDT 1.50. The central bank has mandated that all charges be displayed before transactions and only the sender will bear the fee. This system operates through the National Payment Switch Bangladesh (NPSB) platform, reviving a similar initiative halted in 2020. Bangladesh Bank previously suspended the ‘Binimoy’ platform due to irregularities and contract violations. The central bank now plans to launch another interoperable platform with support from Mojaloop, an open-source initiative backed by the Gates Foundation.

Dhaka Bank is implementing several initiatives to accelerate Bangladesh’s transition toward a cashless economy. The bank is introducing NFC-based mobile payment services, expanding the use of Bangla QR for small merchants and consumers, and modernizing its internet banking and mobile app platforms. It is also promoting financial literacy and awareness campaigns to encourage digital transactions. Drawing on experiences from India, Sri Lanka, and Pakistan, Bangladesh is studying successful models like India’s UPI and Pakistan’s Raast to develop interoperable, low-cost, and real-time payment systems. Inspired by these examples, Bangla QR transactions are now free for users, and the country is moving toward cost-free peer-to-peer transfers. To ensure uninterrupted service, banks are upgrading core systems, enhancing cybersecurity, and strengthening data centers and disaster recovery sites. Despite progress, challenges remain in rural connectivity, cybersecurity threats, and occasional system downtime affecting transaction continuity.

Bangladesh Bank has directed all commercial banks, mobile financial service providers, and payment service operators to ensure instant transfer of funds to the accounts of small and marginal traders for transactions made through the Bangla QR code system. The move aims to promote a cashless society and reduce cash-based transactions across the country. Institutions have been instructed to build the necessary infrastructure by December 15, after which immediate fund transfers must be implemented. For other types of businesses, the timing of fund deposits will depend on the relationship and risk assessment between the financial institution and the merchant. The central bank issued the directive on November 24, emphasizing that the initiative is part of a broader strategy to enhance digital payments and financial inclusion through the expansion of Bangla QR-based transactions.

Al-Arafah Islami Bank has positioned itself as a key player in Bangladesh’s journey toward a cashless economy, aligning with the government’s ‘Digital Bangladesh’ vision. The bank has introduced advanced internet banking, dual-currency debit and Islamic credit cards, Islamic wallets, Bangla QR payments, and digital donation boxes to promote secure and accessible digital transactions. It has also launched an Education Management System for automated tuition fee collection and expanded agent banking to rural areas to enhance financial inclusion. Managing Director Md. Rafat Ullah Khan highlighted Bangladesh’s upcoming digital reforms, including private credit bureaus, digital-only banks, e-money licenses, and an interoperable A2A platform similar to India’s UPI. Despite challenges like cybersecurity risks, user awareness, and network limitations, the bank is upgrading its core systems, adopting cloud technology, and strengthening cybersecurity. With Bangladesh Bank’s new policies and infrastructure initiatives, Al-Arafah aims to deliver faster, safer, and nearly cost-free digital transactions nationwide by 2026.

The Tenants’ Council, a renters’ rights organization, held a human chain protest in front of the National Press Club in Dhaka on Saturday, urging the government to stop what they describe as unjustified rent increases across the country. The protest, chaired by the council’s president Jannat Fatema and conducted by acting president Md. Mostafa, featured several leaders who criticized landlords for raising rents annually under various pretexts. They argued that amid the current economic crisis, limited income sources, and rising prices of essential commodities, tenants are struggling to manage household expenses. The speakers accused the government of failing to take effective steps to control rent or inflation. The organization demanded an official government notification to freeze rent hikes, warning that if landlords continue to raise rents, the Tenants’ Council will launch a larger nationwide movement to protect renters’ rights.

Bangladesh Cold Storage Association (BCSA) announced that the two-day 'Potato Festival 2025' will be held at the International Convention City Bashundhara (ICCB) in Dhaka from December 12. The event aims to promote Bangladesh’s potato industry on the global stage by showcasing modern storage technologies, processing capabilities, and export opportunities. BCSA President Mostafa Azad Chowdhury Babu said the festival will highlight the need for advanced cold storage, value-added processing, and investment-friendly policies to expand exports. Despite being the world’s seventh-largest potato producer, Bangladesh struggles with inadequate preservation facilities and limited processing infrastructure. Over a hundred local and international companies will participate in the exhibition, featuring innovations in cold-chain systems, agricultural machinery, potato-based food products, and culinary applications. The initiative seeks to attract foreign investment and strengthen Bangladesh’s position in the global potato market.

Bangladesh Bank Governor Dr. Ahsan H. Mansur announced plans to merge five struggling banks into a single new entity with Tk 35,000 crore in paid-up capital, aiming to strengthen the country’s financial sector. Speaking at the Fourth Bangladesh Economic Conference in Dhaka, he highlighted progress in macroeconomic stability, foreign exchange management, and governance reforms despite structural challenges. Mansur noted that the exchange rate has remained stable between Tk 120 and Tk 122.50 per US dollar, and foreign banks have resumed normal operations. He identified high non-performing loans—potentially reaching 35%—as a major challenge that could take up to a decade to resolve. The governor also outlined reforms including greater central bank autonomy, stronger deposit insurance, and limits on family ownership in banks. He urged businesses to utilize the bond market for long-term financing and confirmed that nine non-bank financial institutions are being phased out.

Biman Bangladesh Airlines has reduced airfares on the Dhaka-Sylhet-Dhaka route following widespread public dissatisfaction and protests over high ticket prices. According to a statement from the Sylhet District Administration’s media cell on Friday, the fare revision aims to improve passenger service and reflect current market conditions. Under the new pricing structure, the minimum one-way fare on the Sylhet-Dhaka route has been set at 2,024 taka, totaling 3,199 taka with taxes, while the maximum fare is now 7,024 taka, totaling 8,199 taka with taxes. The fare reduction comes after several days of demonstrations in Sylhet, where residents accused a syndicate of exploiting the poor condition of the Sylhet-Dhaka highway to artificially inflate airfares. The move is expected to ease travel costs for passengers frequently commuting between the two cities.

At an international conference organized by the Bangladesh Agricultural Journalists Forum (BAJF) in Dhaka, Fisheries and Livestock Adviser Farida Akhter cautioned that relying on national average data to assess nutrition levels masks the real dietary disparities between rich and poor citizens. She emphasized that 'Zero Hunger' means ensuring nutritional quality, not just food quantity. Akhter noted that while agriculture receives subsidies, the fisheries and livestock sectors—vital for rural livelihoods and nutrition—do not, and she called for policy support and subsidies for these sectors. She warned against uncontrolled hybridization that threatens native species and highlighted the risks of antibiotic overuse in aquaculture, which could lead to antimicrobial resistance. Akhter also stressed preserving local food diversity and protecting indigenous fish and livestock breeds. Other speakers, including senior officials and researchers, discussed policy commitments to restore river fish, reduce pesticide use, and ensure quality in farmed fish production.