Dhaka Deputy Commissioner Farida Khanam has said that the Family Card program will become a symbol of empowerment for underprivileged families. She made the remarks on Wednesday at the inauguration ceremony of the Family Card program held at the Ruhitpur Upazila Parishad field in Keraniganj. In this third phase, a total of 1,275 families from two unions of Keraniganj upazila are receiving the cards.

Farida Khanam explained that the initiative reflects the government’s vision that the family, not the individual, is the core unit of development. The Family Card aims to bring genuinely poor, helpless, and disadvantaged families under an integrated social security framework. Currently, more than 95 social safety programs are being implemented through 23 ministries, and the Family Card is designed to unify these scattered services under one platform.

She added that the card will help transform social security from a donation-based system into a citizen’s right and may eventually serve as a universal social identity card for accessing government services more easily.

Global oil prices increased following remarks by US President Donald Trump suggesting potential military action against Iran if a memorandum of understanding between the two countries is not implemented. Trump stated that the United States would 'shoot again' and 'bomb again' if the agreement fails, prompting renewed concern in energy markets.

According to a Reuters report cited by Al Jazeera, Brent crude futures rose by 54 cents, or 0.7 percent, to reach 79.50 dollars per barrel. Meanwhile, US West Texas Intermediate (WTI) crude increased by 49 cents, or 0.6 percent, to 76.54 dollars per barrel. The comments triggered a modest rebound in prices after recent declines.

Despite the uptick, the report noted that global oil prices remain near their lowest levels in the past three months, indicating continued market caution amid geopolitical uncertainty.

The SME Foundation has announced a plan to distribute more than Tk 450 million in loans to micro, small, and medium entrepreneurs across Bangladesh. The loans will be provided under the foundation’s revolving fund through its Credit Wholesaling Program at an 8 percent interest rate. A separate facility, supported by the International Labour Organization, will offer returning migrants loans via the Employment Bank at a 7 percent rate. Agreements were signed in Dhaka with Mutual Trust Bank, Dhaka Bank, and Employment Bank to implement the initiative.

According to the foundation, loans up to Tk 1 million will require no collateral, with repayment periods of up to four years and a six-month grace period. Priority will be given to women, SME clusters, manufacturing, export-oriented and import-substitute industries, IT-based entrepreneurs, ethnic minorities, persons with disabilities, third-gender entrepreneurs, climate-vulnerable businesses, and returning migrants. At least 25 percent of funds will go to women entrepreneurs and 20 percent to SME clusters.

The SME Foundation stated that loan distribution and recovery will be closely monitored to ensure funds reach genuine entrepreneurs. Since its inception, the foundation has disbursed over Tk 12.5 billion to around 13,000 entrepreneurs under this program.

About 340 tons of government rice allocated for sea-going fishermen and beneficiaries under the Vulnerable Group Development (VGD) program remain undistributed in Tazumuddin upazila of Bhola. Although delivery orders were issued, the rice could not be transported due to a shortage of funds for transport costs. The rice, which includes expired and newly allocated stocks, has been lying in the local food warehouse beyond the scheduled distribution period, raising concerns about the effectiveness of the government’s food aid program.

Officials said that several unions failed to collect their allocations within the designated time, leaving large quantities of rice stored in the warehouse. Beneficiaries complained that despite having official documents, they have not received their food aid. Local representatives cited insufficient government transport allowances as the main reason for the delay, while officials from the Women Affairs Office and the Food Department gave differing statements about the status of distribution.

Local observers warned that if the issue is not resolved quickly, it could disrupt upcoming grain storage and procurement operations and undermine the objectives of the government’s food assistance initiatives.

Foreign Minister Khalilur Rahman told Parliament that Bangladesh has recently signed an Agreement on Reciprocal Trade (ART) with the United States. The deal ensures zero-duty benefits for garments made from US cotton and is expected to strengthen Bangladesh’s position in global supply chains while attracting foreign investment and enhancing energy security.

He said expanding export markets, diversifying exports, attracting international investment, and achieving employment-oriented growth are key government priorities. The government is emphasizing economic diplomacy to engage local entrepreneurs in global trade and boost economic dynamism through foreign investment. Relevant agencies, including BIDA, BEZA, and the Ministry of Commerce, are working together toward these goals.

The minister added that Bangladesh is pursuing trade agreements such as PTAs, FTAs, and CEPAs with several countries, including the UAE, Malaysia, Singapore, and Thailand, while also seeking stronger ties with regional blocs like GCC and Mercosur. He also noted new export opportunities for agricultural products, such as potatoes to Vietnam and ongoing efforts to export mangoes to Malaysia.

The International Energy Agency (IEA) reported that the reopening of the Hormuz Strait will allow the global oil market to gradually return to normal conditions. According to its latest monthly oil market report, the removal of the U.S. naval blockade and the resumption of operations through the Iranian-controlled strait have eased a major supply disruption that had previously affected more than 14 million barrels of daily production and transport.

The IEA noted that if current agreements remain effective, oil production and exports from the Gulf region will steadily increase. The lifting of U.S. restrictions has created an opportunity for Iran to fully restart its oil exports. The agency’s data show that oil flow through the strait, which had dropped to 9.6 million barrels per day in May, has now risen to about 12 million barrels per day due to increased ship-to-ship transfers in the Gulf of Oman.

However, the IEA cautioned that full normalization will take time as mine clearance and supply chain repairs continue. Once these challenges are resolved, the agency expects stability and gradual improvement in global oil supply.

Bangladesh’s Commerce Minister said rice prices and supply remain stable following an inspection of wholesale and retail markets in Dhaka. Speaking at the ministry after visiting Badamtoli and Nayabazar markets on Wednesday, he noted that government stocks of rice and wheat are satisfactory. The visit was prompted by a newspaper report suggesting rising rice prices, but the minister found no significant change. Some traders reported a minor post-Eid increase of one to one and a half taka per kilogram, which he said does not indicate a major price hike.

The minister added that a few mill owners had attempted to raise prices by 100 taka per sack, but the market did not accept the increase and prices later fell. He explained that small variations of one to two taka are normal due to differences in rice quality and harvest timing. He also said supplies of essential goods, including edible oil, remain stable and are being monitored daily.

Food State Minister Md. Abdul Bari stated that the government currently holds about two million tons of food grains, exceeding emergency reserve requirements, ensuring no supply shortage or crisis in the rice market.

Bangladesh is set to establish its first-ever free trade zones in the Chattogram Port and Matarbari areas, according to Cabinet Secretary Nasimul Gani. The announcement came after a meeting of the Cabinet Committee on Economic Affairs held on Wednesday at the Secretariat. The zones will allow both foreign and local businesses to trade without taxes, marking a new step in the country’s trade policy framework.

The Cabinet Secretary stated that two sites have been selected for the initiative—one near Matarbari Port and another adjacent to Chattogram Port—covering between 300 and 600 acres each. Alongside this development, the government also approved imports of 30,000 metric tons of urea fertilizer from Russia, 25,000 metric tons from Saudi Arabia, and raw materials for 15,000 metric tons of sulfuric acid from three countries.

He added that due to the closure of the Hormuz Strait, Bangladesh is purchasing fuel from the spot market and has approved two shipments for June and early July. The government emphasized that administrative activities are progressing rapidly with a focus on public service delivery.

Spanish energy company Repsol has signed an agreement to explore a light crude oil field in Venezuela. The deal was finalized on Tuesday in one of the country’s main oil-producing regions, which holds the world’s largest proven oil reserves. The exploration will take place on the eastern shore of Lake Maracaibo in the oil-rich northwest of the country.

Interim President Delcy Rodríguez has opened Venezuela’s hydrocarbon sector to foreign investment after President Nicolás Maduro was detained during a U.S. military operation. Under pressure from Washington, Rodríguez pushed reform legislation through parliament to attract international partners. Repsol had agreed in April to resume its operations in Venezuela.

State oil company PDVSA’s president Héctor Obregón Pérez said the country aims to achieve growth in both gas and oil sectors. Repsol CEO Josu Jon Imaz San reaffirmed the company’s commitment to investing in Venezuela, while Rodríguez emphasized that Repsol had maintained its dedication during difficult times and would now receive guarantees for expanding its investments.

Iran and the United States have outlined a proposed $300 billion private investment fund aimed at attracting global capital to Iran under a new bilateral agreement. According to a Reuters report citing a source directly involved, more than half of the fund’s capital has already been pledged. The agreement, expected to be signed on Friday in Washington and Tehran, is designed to encourage both sides toward a final and lasting peace settlement following months of conflict.

The fund will be entirely financed by private entities, with no government grants or public money involved. Companies from the United States, Gulf Arab states, Asia, South America, and Africa have reportedly committed to participate. The investment will target energy, logistics, manufacturing, and transport sectors. The initiative emerged after Tehran’s initial $400 billion compensation demand was rejected by Washington, leading to the creation of this reconstruction and development mechanism instead.

The fund will only become operational after the final agreement is signed, followed by a 60-day planning phase. Pakistan has acted as a mediator, while the White House confirmed that Iran must meet conditions including halting its nuclear program and allowing international inspections to access the fund’s benefits.

Bangladesh’s finance minister Amir Khosru Mahmud Chowdhury presented a new amendment to the Income Tax Act in parliament on June 11, 2026. The proposal states that if a company fails to pay loan interest within three years, the unpaid amount will be treated as business income and taxed accordingly. The measure aims to prevent companies from repeatedly claiming unpaid interest as expenses to reduce taxable profits.

According to the amendment, if the unpaid interest is later settled after the three-year period, it will then be considered an allowable expense for that year. The change aligns the tax law with international accounting standards under the International Financial Reporting System (IFRS), which follows the accrual basis of accounting. Previously, the National Board of Revenue (NBR) applied a cost basis, recognizing expenses only when payments were made.

Officials explained that the amendment resolves inconsistencies between accounting and tax reporting practices, ensuring that companies cannot indefinitely defer tax liabilities by delaying interest payments.

Bangladesh’s apparel exports to the European Union, the country’s largest export destination, dropped sharply in the first quarter of 2026. According to Eurostat data, export earnings from January to March fell by 19.26 percent year-on-year to 4.59 billion euros, down from 5.68 billion euros in the same period of 2025. In March alone, exports declined by 19.24 percent to 1.7 billion euros, a loss of about 410 million euros compared to the previous year.

The decline was driven by both reduced export volume and lower average prices. During the three months, Bangladesh’s export volume fell by 8.32 percent, while the average price per kilogram dropped by 11.93 percent. The EU’s total apparel imports from all countries also decreased by 11.62 percent in value and 8.32 percent in quantity during the same period.

Industry stakeholders warned that since nearly half of Bangladesh’s total export earnings come from the EU, a prolonged downturn in this market could negatively affect the broader economy. They also noted that global trade shifts and stronger competition from China, India, Vietnam, and other exporters have intensified challenges in the European market.

Bangladesh’s banking sector expanded loan rescheduling sharply in 2025 to reduce reported defaults. According to the Bangladesh Bank’s Financial Stability Report 2025, banks rescheduled Tk 984.33 billion in default loans last year, bringing total rescheduled loans to Tk 4.46 trillion by year-end. This marked a significant rise from Tk 3.48 trillion in 2024, with 57 percent of rescheduled loans concentrated in the top ten banks.

The report shows that rescheduling has accelerated since 2022, when banks were given full authority to renew defaulted loans. Policy changes allowed borrowers to reschedule by depositing as little as 2 to 4.5 percent of outstanding amounts, with up to ten-year terms and two-year grace periods. Of 1,516 applications under special policy support, 250 loans worth Tk 261.14 billion were implemented. However, 39.87 percent of rescheduled loans have again defaulted.

The IMF classifies rescheduled loans as “stressed,” and combined with defaults and written-off loans, Bangladesh’s distressed credit reached Tk 10.87 trillion by December 2025, or 30.6 percent of total lending. The industrial sector accounted for the largest share of rescheduled loans at 29.56 percent.

The government has dissolved the board of Islami Bank, Bangladesh’s largest private bank, following escalating political tensions surrounding its ownership and management. The move comes after prolonged disputes between the ruling party and the main opposition over control of the institution. The Association of Bankers Bangladesh (ABB) met with the central bank governor to express concern, and the governor acknowledged the issue had become politicized. The author argues that such politicization undermines governance and could unsettle international confidence.

The article traces the bank’s troubled history, including alleged misuse of state agencies under the previous administration to transfer ownership to businessman S. Alam, accused of large-scale financial misappropriation. The interim government led by Dr. Yunus had restructured the bank, restoring stability, but renewed turmoil has emerged under the current elected government. The author warns that political interference in banking could jeopardize economic recovery and foreign loan negotiations.

The commentary concludes that the government must restore depositor confidence by recovering misappropriated funds, appointing competent management, and ensuring liquidity support. Failure to depoliticize the financial sector could threaten remittance inflows and overall economic stability.

Global crude oil prices dropped sharply to their lowest level in three months following reports of a potential peace agreement between Iran and the United States. For the first time since the Iran war began, the benchmark Brent crude price fell below 80 dollars per barrel, reaching 79.96 dollars on Tuesday. Traders expect a lasting agreement to ease tensions between Washington and Tehran, which has driven a 15-dollar decline in Brent prices since last Thursday.

Iran’s state media reported that its oil tankers have resumed operations at sea after progress in talks with the United States. Three Iranian oil tankers were said to be sailing in the northern Indian Ocean, while two others carrying essential goods and livestock feed were heading to southern ports. The report also indicated that the naval blockade on Iran has begun to be lifted, suggesting a relaxation of US naval restrictions.

At the G7 summit, European leaders expressed less certainty than US President Donald Trump about the Strait of Hormuz reopening by Friday, reflecting differing levels of optimism among allies.