Saudi Aramco Chief Executive Amin Nasser has warned that the global energy market could face a severe crisis if the current disruption in the Strait of Hormuz continues for several more weeks. In an interview with Reuters, Nasser said it might take until next year for the situation to return to normal.

According to Aramco officials, ship traffic through the vital waterway has dropped dramatically—from about 70 vessels per day to only 2 to 5. Nasser stated that if the situation persists, the global market could lose around 100 million barrels of oil each week, potentially causing major instability in energy supply and prices.

Aramco’s Chief Financial Officer Ziad Al-Murshid added that the company holds strong reserves equivalent to about 250 billion barrels and is prepared to meet global energy demand despite the ongoing disruption.

Bangladesh Bank has introduced a new policy enabling customers to obtain digital or e-loans of up to Tk 50,000 at a 9 percent interest rate for a maximum period of 12 months. The central bank issued the policy on Monday, allowing customers to apply and repay loans entirely through digital channels without visiting a bank branch.

According to the policy, any regular customer can apply for the loan using digital platforms such as internet banking, mobile apps, e-wallets, or mobile financial services. Defaulters will not be eligible. Banks must verify a customer’s credit information from other financial institutions before approval but cannot charge any fee for this verification. The entire process, from application to repayment, will be conducted digitally using biometric identification, OTP, and multi-factor authentication to ensure security. All customer data must be stored in data warehouses located in Bangladesh.

Before commercial rollout, banks are required to conduct at least six months of pilot testing. Upon successful completion and board approval, they may launch the service. Banks have also been instructed to take steps to enhance customers’ financial literacy.

Authorities in Chapainawabganj have decided not to impose any fixed schedule for mango harvesting this year. Farmers will be allowed to pick and market mangoes once they are fully mature. The decision was made at a meeting held on Monday afternoon at the district administration conference room, focusing on the mango calendar and the safe, chemical-free production, marketing, transport, and sale of mangoes. Officials warned that strict action would be taken against anyone found marketing immature mangoes.

The meeting was chaired by District Commissioner Abu Saleh Md Musa Jangir and attended by officials from the Department of Agricultural Extension, the Regional Horticulture Research Center, and local mango growers and traders. According to the agriculture department, mango orchards cover 37,487 hectares in the district this season, with a production target of 458,012 metric tons.

The decision aims to ensure quality mango production and maintain the district’s reputation as a leading mango-producing region in Bangladesh.

The Bangladesh Association of Banks (BAB) has expressed concern over a clause in the amended Bank Resolution Act that allows former bank owners to return to the sector. Following a meeting with Bangladesh Bank Governor Mostakur Rahman on Monday, BAB President and Dhaka Bank Chairman Abdul Hai Sarker told reporters that the provision could enable individuals previously involved in irregularities and misappropriation to re-enter the banking industry, potentially causing new instability.

Sarker warned that public confidence in the banking sector could further erode if those who had taken money from banks are allowed to return. He urged the government to reconsider the clause carefully to prevent renewed crises. The meeting was attended by several prominent bank chairmen and directors, including A K Azad, Sharif Zahir, Manjurur Rahman, and Romo Rouf Chowdhury.

According to Sarker, the central bank governor assured them that the return of former owners would not be permitted without fulfilling all conditions under section 18(a) of the amended law. He also confirmed that the ongoing merger process of five banks would continue as planned.

The government of Bangladesh is moving forward with plans to construct a second Padma Bridge, according to Road Transport and Bridges Minister Sheikh Robiul Alam. Speaking at the Secretariat on Monday after a meeting on ensuring safe travel during the upcoming Eid-ul-Azha, the minister said the feasibility study for the project has already been completed. He added that discussions are ongoing regarding financing and other preparatory work.

The minister explained that one of the three proposals for the new bridge involves building it at the Daulatdia-Paturia point, which he said would help reduce road accidents. He also discussed measures for managing Eid travel, noting that garment factories will grant holidays in phases this year to avoid the chaos experienced during the previous Eid when all factories closed simultaneously.

To improve road discipline during Eid travel, the government plans to operate 69 mobile courts. These steps are part of broader efforts to ensure safer and more organized travel during the holiday period.

Prolonged rainfall and waterlogging have submerged vast areas of Boro paddy fields in Sunamganj’s haor region, leaving farmers burdened with debt. According to the agriculture department, around 20,000 hectares of Boro crops have been damaged, with small and marginal farmers suffering the most. Many had taken loans from NGOs, banks, and local lenders to cover the costs of seeds, fertilizers, pesticides, irrigation, and labor, but the crops were destroyed before harvest.

Farmers described their distress as they struggle to repay debts. Abdul Kaiyum from Dekhar Haor said he borrowed about two lakh taka for his 12-kiar land but lost all his paddy. Aibun Begum from Shangai Haor reported that rain prevented drying the harvested paddy, causing further losses. Another farmer, Nur Uddin, said lenders are pressuring for repayment while he faces mounting debt.

Mohammad Omar Faruk, deputy director of the Department of Agricultural Extension in Sunamganj, stated that a list of affected farmers is being prepared. Two government ministers have already launched a three-month assistance program, and all affected farmers will gradually receive support.

Bangladesh Bank has issued a circular permitting the transfer of visa bond or security deposit funds abroad through local banks. The directive, released on Monday, aims to simplify the process for Bangladeshi citizens who must deposit refundable security amounts as part of foreign visa applications. Under the new rules, banks can send the required funds on behalf of applicants when such deposits are mandatory for visa issuance.

The central bank stated that the initiative is intended to reduce difficulties faced by applicants and make the visa application process more convenient. Banks are now authorized to issue international or virtual cards preloaded with the necessary funds, while existing international cardholders can reload their cards within the travel quota. The funds, however, may only be used for visa bond or related security deposit payments.

According to industry observers cited in the circular, the new policy will make visa procedures faster and easier for Bangladeshi applicants, particularly in countries that require financial guarantees or refundable deposits.

Road Transport and Bridges Minister Sheikh Robiul Alam said the current government is operating under the pressure of massive foreign debt, money laundering, and incomplete mega projects. He made the remarks on Monday afternoon after inaugurating a tree plantation program and laying the foundation stone for the Padma Bridge Museum at the Jajira end in Shariatpur.

The minister stated that around Tk 30 lakh crore had been laundered abroad and more than Tk 20 lakh crore in foreign debt had been left behind. He added that despite huge spending on 16 mega projects, many remain unfinished, with some contractors abandoning work and some projects halted, creating complications in implementing development activities.

Sheikh Robiul Alam also mentioned that long-standing corruption and irregularities have caused a trust deficit among international donor agencies. Organizations that previously supported large projects are now showing reluctance to cooperate, he said.

A coordination meeting chaired by Naogaon Deputy Commissioner Mohammad Saiful Islam announced that mango harvesting in the district will start on May 22. The meeting, held on Sunday afternoon, decided that all types of early local mango varieties can be collected from that date. Among the improved varieties, Gopalbhog will be harvested from May 30, Khirsapat or Himsagar from June 2, Nak Fazli from June 5, Langra and Haribhanga from June 10, Fazli, Amrapali, and Banana Mango from June 25, and Ashwina, Bari-4, Gaurmoti, and Katina from July 5.

According to the meeting, mango orchards in Naogaon cover 30,310 hectares this year, with a production target of 387,235 metric tons. The district expects mango sales worth around Tk 4,000 crore this season. The Deputy Commissioner emphasized that no immature or chemically treated mangoes may be harvested or marketed before the designated dates, and awareness campaigns will be conducted across the district to ensure compliance.

Indian Prime Minister Narendra Modi has called on citizens to resume working from home, citing the deepening impact of the Iran war on India’s economy. Speaking at a public rally in Telangana on Sunday, Modi said the conflict has disrupted global supply chains and increased prices of essential imports such as petroleum and cooking oil. He urged people to reduce petrol and diesel consumption and use less edible oil in cooking to help conserve foreign currency reserves.

Modi highlighted that India lacks large domestic oil reserves and depends heavily on imports of petroleum, diesel, gas, edible oil, gold, copper, and chemical fertilizers. The rising international prices of these commodities have strained India’s foreign exchange reserves. To mitigate the pressure, Modi advised citizens to avoid foreign travel and refrain from buying gold jewelry for the next year.

He also appealed to farmers to cut their use of chemical fertilizers by half, emphasizing the need for national restraint in consumption to safeguard economic stability during the ongoing global crisis.

Indian Prime Minister Narendra Modi has urged citizens to refrain from organizing wedding ceremonies abroad and to conserve fuel in response to the crisis triggered by the Iran war. Speaking at a public rally on Sunday, Modi emphasized the need to reduce petrol and diesel consumption and encouraged people in cities with metro lines to use public transport.

He further called for saving foreign currency by avoiding the purchase of gold jewelry and postponing foreign travel and destination weddings for at least one year. Modi noted that a growing culture of overseas weddings and vacations among the middle class should be reconsidered in the current situation.

India, with a population exceeding 1.4 billion, depends heavily on oil and gas imports from the Middle East. The ongoing tensions in the Strait of Hormuz have made India one of the countries most affected by the regional instability.

Bangladesh’s education sector is expected to receive an increased allocation in the upcoming 2026–27 fiscal budget, as experts and policymakers emphasize the need to improve quality and research. Despite decades of expansion in institutions and infrastructure, the country’s education budget has remained below two percent of GDP, far short of UNESCO’s recommended four to six percent. The current BNP government, which pledged in its election manifesto to raise education spending to five percent of GDP, has indicated that allocations will gradually increase.

Education specialists, including Naogaon University Vice-Chancellor Professor Hasanat Ali, stressed that nearly 90 percent of the current education budget goes to salaries and infrastructure, leaving little for teacher training or research. Civil society groups such as Campaign for Popular Education (CAMPE) also urged the government to treat education funding as a long-term investment rather than mere expenditure. Opposition and government leaders echoed similar calls in parliament, with Prime Minister Tarique Rahman and Education Minister Ehsanul Haque Milon reaffirming commitments to raise allocations.

Stakeholders suggested that the government aim to raise education spending to 2.5 percent of GDP in the next budget, reaching five percent within three years and six percent within five years, aligning with international standards.

Widespread economic turmoil has gripped Asia due to the ongoing war involving Iran, according to a report published on May 11, 2026. The conflict has triggered severe energy shortages, leading to long fuel queues, frequent power outages, and a surge in remote work across several Asian nations. Governments are struggling to protect their economies from the escalating crisis.

To manage the fuel shortage, some countries have introduced rationing systems, reinstated subsidies, or imposed export bans. Analysts warn that as long as shipping through the strategically vital Strait of Hormuz remains disrupted, Asia’s economic situation will continue to deteriorate. Rising global oil prices have sharply increased import costs, while declining remittance inflows have weakened local currencies.

Many countries are depleting their foreign exchange reserves, borrowing at high interest rates, or cutting budgets in other sectors to stabilize their economies. The region now faces deep uncertainty and mounting financial pressure, with no immediate relief in sight.

Bangladesh Bank has announced that it will launch an Islamic interbank money market by June 30, aiming to address liquidity management challenges faced by Islamic banks that cannot participate in conventional interest-based call money markets. The initiative acknowledges a long-standing structural weakness in the country’s Islamic banking system, where banks lack a Shariah-compliant mechanism for short-term borrowing and lending.

However, economist M. Kabir Hassan argues that the proposed model overlooks the sector’s ongoing financial distress and governance failures. Several Islamic banks reportedly have negative equity, high default rates, and allegations of large-scale fund misappropriation. The author warns that introducing an interbank liquidity pipeline among such institutions could spread financial contagion rather than resolve liquidity issues. He notes that Bangladesh lacks essential Shariah-compliant instruments such as central bank sukuk or Islamic treasury bills, which are prerequisites for a functional market.

Hassan recommends that Bangladesh Bank first develop tradable Islamic financial instruments, set eligibility criteria for participating banks, ensure separate clearing systems for Islamic transactions, and strengthen Shariah supervision. He emphasizes that broader reforms, including new legislation and stronger central bank independence, are necessary to restore public trust in Islamic banking.

Global oil prices climbed after former U.S. President Donald Trump rejected Tehran’s response to Washington’s proposal to end the ongoing war. On Sunday, Brent crude rose by 3.17 percent to reach 104.50 dollars per barrel, while U.S. crude increased by 3.21 percent to about 98.48 dollars per barrel. U.S. Ambassador to the United Nations Mike Waltz said the latest American proposal set a clear red line, but Trump dismissed Iran’s reply as completely unacceptable.

The lack of a peace deal in recent weeks has hindered the reopening of the Strait of Hormuz, a key route for nearly one-fifth of global oil and gas shipments. Iranian state media reported that a senior military official warned of possible trouble for ships from countries enforcing sanctions against Iran. Meanwhile, the U.S. has maintained its naval blockade on Iranian vessels and ports, attacking two Iranian-flagged tankers last Friday.

Crude prices now stand about 20 dollars higher per barrel than before the war began, raising fuel costs for Americans. Analysts warn that Trump’s rejection could prolong the Middle East conflict, further unsettling global energy markets.