The government has reiterated that Bangladesh faces no actual fuel shortage, even as the ongoing conflict in the Middle East disrupts global energy markets, maintaining that supply remains stable and manageable with plans underway to build longer-term reserves, including a 90-day fuel stock.

Officials stressed that recent supply pressures are largely the result of hoarding by a section of traders, creating artificial scarcity rather than reflecting real deficits.

Energy Minister Iqbal Hasan Mahmud said that supply constraints at times were due to logistical delays rather than a lack of fuel. "There is enough fuel… people will get it, but they should not buy more than necessary," he said, urging consumers to avoid panic purchases.

State Minister for Power, Energy, and Mineral Resources Anindha Islam Amit said that long queues at filling stations were caused by a sudden spike in demand.

He urged consumers to avoid stockpiling, reassuring them that both fuel and electricity remain stable.

The state minister said around Tk167 crore is being spent daily to stabilise fuel prices and ease public suffering, as any price hike would immediately increase electricity tariffs, transport fares and food prices.

Recent fuel arrivals

Early today (31 March), a Panama-flagged vessel, PVT Solana, carrying 30,000 tonnes of diesel from Malaysia, berthed at Chattogram Port, marking the eighth fuel shipment to arrive this month.

The Bangladesh Petroleum Corporation (BPC) confirmed that the diesel may be unloaded either via lightering or directly at the dolphin jetty, with final arrangements pending.

Another vessel carrying a similar quantity is expected on 3 April, while a ship transporting around 70,000 tonnes of LNG is due on 4 April. Over the past month, 33 vessels have docked, including 15 carrying fuel oil, eight with LNG, and nine transporting LPG.

Officials said that Bangladesh Petroleum Corporation plans to boost diesel imports from India's Numaligarh Refinery, while Petrobangla has secured nine LNG cargoes for April.

Govt plans strategy to battle crisis

State Minister for Foreign Affairs Shama Obead Islam outlined the government's multi-pronged strategy to secure an uninterrupted fuel supply and strengthen reserves.

Bangladesh is actively engaging with multiple countries – including Saudi Arabia, India, Malaysia, Indonesia, the United States, and Russia – to ensure continued imports.

Several consignments are expected in April under existing agreements and memorandums of understanding.

On fuel imports from Russia, the state minister said the issue of sanctions requires procedural considerations, including engagement with the United States, adding that the relevant ministries are in discussions to resolve such matters.

"There is no fuel crisis at the moment. We have sufficient reserves, and efforts are underway to strengthen our stock further," she said, emphasising that traders creating artificial pressure must be addressed strictly.

The dollar headed for its biggest monthly gain since July on Tuesday and stands out as the strongest so-called ​safe asset, as war in the Middle East has set oil prices surging, nearly everything else sinking and raised the risk ‌of global recession.

Developed market currencies were broadly steady on the day, with the Japanese yen unchanged at 159.62 per dollar, the euro flat at $1.1472 and the pound 0.14 percent higher at $1.3202 .

But still all three were set for March falls of more than 2 percent. For the euro and pound, that is the largest drop since July, and since October for ​the yen.

The dollar has been supported by the US status as an energy exporter and by investors’ flight to cash over the past ​month of conflict.

The latest news from the war, including a Wall Street Journal report that US President Donald Trump was ⁠willing to end attacks on Iran without forcing open the Strait of Hormuz, did little for currencies on Tuesday, but did underscore their monthly moves.

“The ​lack of a clear plan to reopen the Strait continues to pose upside risks to global energy prices,” said Lee Hardman, senior currency analyst at MUFG.

“The ​potential for a bigger hit to growth outside of the US continues to encourage a stronger US dollar,” he said.

Asian currencies have suffered some of the largest losses and, on Tuesday, the dollar pushed 1 percent higher against South Korea’s won , to 1,534 won, levels touched only in the wake of the global financial crisis in 2009 and the Asian ​financial crisis in 1997 and 1998.

The dollar index, which tracks the unit against six main peers, touched its highest since last May at 100.64 and, ​last sitting at 100.47, is up 2.8 percent through March.

Bangladesh Bank has decided to introduce an Islamic interbank money market within the current fiscal year to provide Shariah-compliant banks with a structured platform for managing short-term liquidity.

At present, Islamic banks are unable to borrow through the conventional call money market due to Shariah restrictions, often leaving them under pressure during liquidity shortages.

The proposed market is set to create an alternative funding mechanism, making liquidity management more efficient. It will be open not only to full-fledged Islamic banks but also to conventional banks operating Islamic branches and windows.

To develop the framework, the Bangladesh Bank has reviewed international practices, particularly in countries such as Indonesia, Malaysia, and Bahrain, where Islamic interbank money markets are well-established. The central bank has also engaged with its counterparts in these jurisdictions.

Under the proposed system, transactions will be allowed for tenors of 1, 7, 14, 28, 90 and 180 days. Both collateralised and uncollateralised borrowing options will be available. The central bank has already circulated a policy outline among commercial banks.

An earlier attempt to introduce a similar interbank arrangement for Islamic banks in 2011 failed to gain traction. The renewed initiative is part of broader efforts to strengthen liquidity conditions in the sector.

Conventional banks can easily manage liquidity shortages by borrowing from the call money market. The initial plan to establish a similar interbank market for Islamic banks was conceived during the tenure of former governor Ahsan H Mansur.

A positive sign for the sector

Arfan Ali, former managing director of Bank Asia, noted that the absence of an interbank mechanism had often forced Islamic banks to seek funds outside Shariah-compliant frameworks.

"Once introduced, Islamic banks will be able to transfer funds among themselves, which is a positive development," he said.

He added that banks with surplus funds would be able to lend to those facing shortages, easing temporary liquidity constraints. "Currently, some Islamic banks rely on borrowing from other banks or receive special support from the central bank due to the lack of suitable financial instruments."

A senior official at a Shariah-based bank said, "Islamic institutions cannot borrow from conventional banks or access central bank liquidity through repo operations. While they can raise funds through Islamic sukuk, the volume remains insufficient compared to demand."

What Islamic banks do now

At present, Islamic banks rely on several mechanisms to manage liquidity. These include the Islamic Bank Liquidity Facility, where sukuk must be provided as collateral to obtain support from the central bank.

They also use the Bangladesh Government Islamic Investment Bond, where banks with surplus funds place deposits for three- and six-month tenors. However, this fund is currently inactive due to a lack of available resources.

In addition, Islamic banks manage liquidity through interbank deposits based on mudaraba principles, offering profit-sharing returns. In times of cash shortfall, banks often rely on deposits from peer institutions to bridge gaps.

According to a senior Bangladesh Bank official, the proposed interbank market will provide a more organised platform for liquidity management without direct intervention from the central bank, although it will remain under regulatory monitoring.

The platform will also help the central bank better assess liquidity demand and supply within the Islamic banking segment, an area that is currently difficult to track accurately.

What the new system will offer

Industry insiders believe the new system will increase flexibility in fund management. Banks facing short-term deficits, such as overnight imbalances in current accounts, will be able to borrow from other Islamic banks instead of depending solely on the central bank.

However, concerns remain regarding newly formed or financially weak banks. A senior official noted that such institutions may initially struggle to attract funds from the interbank market due to concerns over repayment capacity and limited income streams.

The managing director of a bank said the implementation of this system would enhance flexibility in fund transfers among Islamic banks. Rather than relying solely on the central bank for short-term fund management, banks would be able to source liquidity from their peers, he said.

"If a bank's current account suddenly turns negative, it could borrow overnight from another bank to return to a positive balance, thereby significantly expanding the options available to these institutions," said the banker.

However, a senior Bangladesh Bank official noted that it will be challenging for Sammilito Islami Bank to secure interbank loans immediately following its formation. There is an underlying concern regarding whether funds lent to this newly established institution would be recoverable, he said.

Not a long-term solution

Experts have cautioned that the initiative should not be viewed as a long-term solution. A former managing director of a private Islamic bank said that while the interbank market can help manage short-term liquidity pressures, it cannot resolve deeper structural issues, including those arising from financial irregularities.

"If mismanaged, using interbank funds to address long-term crises could backfire," he warned, emphasising the need for strong central bank oversight to ensure proper utilisation of borrowed funds.

Islami Bank Bangladesh Limited has sought the recovery of nearly Tk10,000 crore owed by five Shariah-based banks, raising the issue during a meeting with Bangladesh Bank Governor Mostaqur Rahman on Tuesday (31 March).

The meeting was held at the central bank's headquarters at 11:30am, where the governor met the bank's board. It was attended by the bank's chairman, board members, the managing director and other senior officials.

According to sources, Islami Bank Bangladesh Chairman M Zubaidur Rahman urged the prompt recovery of outstanding dues during the discussion.

Sources said Islami Bank also has dues pending from state-owned Janata Bank Limited. In addition, the bank informed the central bank that around Tk1,000 crore in remittance incentives remains pending and requested the release of the funds from Bangladesh Bank.

The lender also sought regulatory support in recovering large loans, relaxation in provisioning requirements under special circumstances, and guidance on maintaining relations with major industrial groups.

In response, Moshtaqur assured the board that the issues would be examined seriously and that decisions on support would be communicated soon, while also pledging full support for smooth operations.

A senior Bangladesh Bank official told The Business Standard that the governor also asked about the bank's operational challenges and instructed relevant departments to review the matters.

The discussion comes as Islami Bank continues efforts to recover from a prolonged governance crisis.

On 17 February, Bangladesh Bank removed board member Md Abdul Jalil and appointed accountant SM Abdul Hamid in his place.

From 2017 until August 2024, before the fall of the Awami League government, the bank was effectively controlled by the S Alam Group.

During that period, nearly Tk1.2 lakh crore was withdrawn under various names and roughly 10,000 officials were irregularly appointed, pushing the bank into a deep crisis.

After the interim government assumed office in 2024, the bank's board was restructured, with several senior officials leaving the country. Md Abdul Jalil was later appointed to the reconstituted board.

Tuesday's meeting marked Governor Moshtaqur's second discussion with the board.

During the first meeting, he noted that Islami Bank had once been a strong institution but had suffered governance lapses in recent years. He also assured full support from the central bank to restore stability, stressing that the bank must not serve the interests of any single group, political party or family.

Meanwhile, A report submitted by Bangladesh Bank to the Anti-Corruption Commission alleged that the S Alam Group had taken nearly Tk1.9 lakh crore in loans from four of the eight banks it controlled.

Of that amount, Islami Bank alone accounted for about Tk1.05 lakh crore.

The Bangladesh Financial Intelligence Unit reported that more than Tk93,000 crore was laundered through fraudulent companies.

According to the findings, Saiful Alam Masud, head of the S Alam Group, and related entities used their influence to secure the loans either directly or through intermediaries.

The government on Tuesday (31 March) approved the procurement of 1 lakh tonnes of refined diesel from Kazakhstan at a competitive rate of $76.41 per barrel to safeguard domestic supply against a volatile global market triggered by the Iran war.

The procurement from ExxonMobil Kazakhstan INC comes as Bangladesh secures a strategic diplomatic opening with the United States.

During a high-level meeting on 11 March at the Secretariat, Finance Minister Amir Khosru Mahmud Chowdhury urged US Ambassador Brent T Christensen to grant Bangladesh temporary waivers for Russian oil imports, similar to the exemptions currently enjoyed by India.

Following the meeting, the finance minister confirmed that the request to support the national economy and ensure steady fuel supplies had been forwarded to the relevant authorities in Washington.

The decision to procure diesel from Kazakhstan was made at a meeting of the Cabinet Committee on Government Purchase, chaired by the finance minister, as Bangladesh moves to secure fuel supplies amid mounting geopolitical uncertainty and supply disruptions.

Case-by-case implementation

A senior Energy Division official told TBS that the US government has responded positively to the proposal by Bangladesh to purchase oil from Kazakhstan.

Washington is now providing feedback on a "case-by-case" basis, allowing Bangladesh to import from specific suppliers and ports that may have Russian associations without breaching international sanctions, he said.

ExxonMobil Kazakhstan, while operating in the Caspian region, often involves projects with Russian links; however, the firm currently adheres to US-mandated compliance standards.

This cooperative stance from Washington enabled the government to approve the $76.41 per barrel deal, which is significantly lower than other market offers.

The government remains cautious regarding new suppliers. Officials noted that while some firms have offered diesel even at lower rates, those deals were not pursued after the US authorities expressed concerns via the Bangladesh Embassy in Washington.

Bangladesh Petroleum Corporation Chairman Md Rezanur Rahman told this newspaper that ExxonMobil expressed confidence in the Bangladeshi market through its own internal reviews.

A "Notification of Award" is set to be issued today (1 April), with the high-quality, low-sulphur diesel expected to reach the country within 15 days of the contract signing and Letter of Credit (LC) opening, he said.

Two more fuel import proposals

In addition to the Exxon Mobil Kazakhstan deal, the committee approved two more fuel import proposals. One involves the purchase of 60,000 tonnes of refined diesel at $221.08 per barrel (including a $5.33 premium) from Indonesia's PT Bumi Siak Pusako Zapin under a government-to-government arrangement.

The other allows for the import of 1,00,000 tonnes of crude oil at $137.14 per barrel (including a $15 premium) from Malaysia-based Abeer Trade and Global Markets via the direct procurement method.

Meanwhile, three additional fuel import proposals were withdrawn at the meeting due to various inconsistencies.

Not guaranteed yet

However, officials cautioned that not all approved deals materialise, as some suppliers fail to meet conditions such as providing performance guarantees. The government has maintained a strict stance against opening letters of credit without such guarantees.

An official from the Energy Division said, "Several companies have yet to deliver fuel, despite receiving approval from the Cabinet Committee on Government Purchase."

BPC to invite tenders for new fuel suppliers

To enhance supply security and ensure competitive pricing, BPC plans to expand its pool of suppliers by inviting new participants, with several international firms already expressing interest in entering the Bangladeshi market.

The BPC is set to publish a notice within this week to enlist new suppliers. This initiative aims to diversify BPC's sourcing of fuel oils and secure more competitive pricing.

According to the BPC chairman, at least 20 international companies have already expressed interest in supplying fuel to Bangladesh. Consequently, BPC has decided to expand its pool of enlisted suppliers, a move expected to make the procurement of both refined and crude oil more efficient, transparent, and competitive.

Currently, Saudi Arabian Oil Company (Saudi Aramco) and Abu Dhabi National Oil Company are the only listed suppliers of crude oil. For refined fuel, nine companies are currently registered.

No fuel price hike for April

Meanwhile, the government on Tuesday decided to keep fuel prices unchanged for April, despite a recent uptick in international oil markets, prioritising public relief over immediate price adjustments.

Officials said the decision not to raise fuel prices was taken after considering multiple factors, particularly the inflationary pressure across sectors that would heavily impact consumers.

Another key concern is the uncertainty in the global energy market.

Officials said the government thinks any increase in diesel prices would have an immediate and widespread impact on daily life.

"If transport costs were to surge, that would trigger fare hikes and commuter frustration. The ripple effects would quickly spread to kitchen markets and grocery stores, fuelling a broader price spiral," said an official.

Weak, Z-category companies dominated the top gainers' list on the Dhaka Stock Exchange throughout March, according to a monthly report by Sheltech Brokerage Limited, raising fresh concerns about market trends.

Analysis of the report shows that share prices of these companies surged sharply without any corresponding improvement in fundamentals, earnings, or price-sensitive disclosures – indicating that the rally was largely driven by speculative demand rather than actual financial performance.

Analysts warn that such trends can distort the market's natural price discovery mechanism and pose risks to long-term stability.

Market insiders said the surge was mainly fuelled by short-term investors seeking quick gains. They channelled funds into low-priced, high-risk stocks, artificially boosting demand and pushing up prices.

The trend was further amplified by speculative trading, where investment decisions were driven by rumours, market trends, and herd behaviour instead of company fundamentals.

Despite ongoing global economic uncertainty linked to the Middle East conflict, a segment of investors shifted toward riskier stocks. Weak, closed, and Z-category companies, in particular, attracted heightened interest, as their low prices create the perception of higher return potential with limited capital – appealing especially to retail investors.

ILFSL topped the gainers' list, with its share price doubling by 100% to Tk3.20 during the month. Premier Leasing rose 83.33%, while PLFSL and Fareast Finance gained 76.47% each. FAS Finance advanced 70.59%, and HFL climbed 67.57%.

Other notable performers included Familytex, which rose 54.55%, IFIC First Mutual Fund, which gained 40%, Atlas Bangladesh, up 37.39%, and Peoples Leasing, which increased 34.09%.

Alongside the price surge, trading activity in these stocks also increased significantly. Familytex recorded a 611.99% jump in average turnover, while HFL and Atlas Bangladesh saw increases of 555.51% and 363.23%, respectively – reflecting strong speculative interest in low-priced shares.

Experts have urged regulators to strengthen market surveillance and advised investors to remain cautious. Instead of chasing short-term gains, they recommend focusing on company fundamentals, earnings quality, and long-term prospects when making investment decisions

Indonesia’s leader visited Tokyo this week in Asia’s latest flurry of fuel bartering efforts to offset crippling shortages caused by conflict in the Middle ​East, a key source of regional energy supplies.

The race for alternatives has hotted up as China, the world’s second largest economy, imposed fuel export bans, while nations such as ‌South Korea and Thailand try to exploit the lifting of US sanctions on Russian energy as a stopgap move.

Matters are getting desperate for poorer nations as the Philippines became the first to declare a national energy emergency, Sri Lanka cut its work week to four days and rationed fuel, and Myanmar limited car drivers to alternate days.

Southeast Asia’s biggest economy and the world’s fourth most populous country, Indonesia is also expected to announce curbs in coming days.

“To maintain rational economic ​relationships is of vital importance,” President Prabowo Subianto told Japanese business leaders in Tokyo after pacts signed on Monday covering long-term oil and gas and geothermal power projects.

“The geopolitical situation in ​the Middle East gives strategic uncertainty for the security of our energy.”

More immediately, Jakarta could strike a deal to beef up supplies of liquefied natural gas to Tokyo in exchange for liquefied petroleum gas, an essential cooking fuel, Djoko Siswanto, the head of oil and gas regulator SKK Migas, told Reuters on Monday.

While Prabowo and Japan’s Sanae Takaichi agreed ​to boost ties on energy security at a meeting on Tuesday, neither leader confirmed such a swap agreement.

Japan’s government-backed oil and gas producer Inpex is discussing a similar barter deal with India to swap LPG for ​naphtha and crude oil, according to an internal Japanese government document seen by Reuters.

Vietnam has also sought Japan’s help for energy supplies, it showed, while the Philippines said on Monday it had received diesel from Tokyo.

Japan’s trade minister stressed the importance of keeping up fuel supplies to Southeast Asian nations where it has supply chains, but declined to comment on specific deals.

Resource-poor Japan relies on the Middle East for about 95 percent of its oil and 11 of its imports ​of liquefied natural gas, though its energy stockpiles are among the world’s largest.

Australia’s position as a major energy producer and exporter should give it clout in talks with Asian partners for ​supplies of jet fuels that could soon run short, energy analysts said.

The government was engaging with major suppliers such as China, Singapore and South Korea, Foreign Minister Penny Wong said this month.

However, China has banned exports of refined ‌fuel, including jet fuel, to safeguard its economy from energy disruption.

That ban, and another by Thailand, have hit Vietnam especially hard, as the neighbours fill more than 60 percent of its jet fuel needs.

Vietnam’s aviation regulator urged authorities this month to seek additional jet fuel supplies from Brunei, India, Japan and South Korea.

Two-way deals with alternative suppliers should help ease shortages, but a longer war would require concerted efforts, said Hiroshi Hashimoto, senior fellow at Japan’s Institute of Energy Economics.

“If the crisis continues for a prolonged period, Asian countries may need to develop multilateral frameworks to help each other and talk to alternative supply sources.”

Russia could prove to be an unlikely supplier ​for some Asian countries, after the United States issued a temporary waiver of sanctions for its attack on Ukraine.

For the first time in years, South Korea imported Russian naphtha this week, a feedstock critical for making plastics used in everything from automobiles to electronics, and also seeks to secure crude oil, its energy ministry said.

India has stepped up purchases of oil ​from Russia, with which Bangladesh, Thailand and Sri Lanka are also in talks.

It could be challenging to finalise arrangements with Russian oil companies before ​the April 11 expiry of the US sanctions waiver, however, said Janaka Rajakaruna, chairman of Sri Lanka’s state-run Ceylon Petroleum Corp.

Small countries such as New Zealand are keenly aware they could be vulnerable amid a scramble for fuel set to get more frenetic in the next few months.

Prime Minister Christopher Luxon has spoken by telephone in recent weeks with the leaders of Singapore, Malaysia and South Korea, New Zealand’s three largest suppliers of refined products, as well as with ⁠the head ​of the European Commission.

Associate Energy Minister Shane Jones told Reuters he had also contacted big commodity traders, among others, in the ​effort to shore up fuel supplies.

“Unless you build options, we’re too small to get noticed in a maddening, frenzied search for fuel in another two or three months,” Jones added.

India’s rupee fell to a record low of more than 95 to the dollar on Monday, before recovering, despite recent efforts by the central bank to stem its fall.

The rupee was among Asia’s worst forex performers in 2025, and its underperformance has continued well into this year, hitting new lows on a regular basis.

Experts say the Middle East war has piled more pressure on the currency, as overseas investors offload Indian shares, and as concerns grow over India’s rising energy import bill and the possibility of a wider current account deficit.

On Monday afternoon, the rupee hit 95.21, down 0.3 percent from Friday’s close, before recovering later to 94.83.

The world’s most populous nation is one of the “most vulnerable economies within Asia to an energy price shock”, analysts at Nomura wrote in a note on Monday.

This has partly caused overseas investors to sell around $12 billion in Indian equities in March so far.

“Foreign outflows from Indian equities could intensify, if the Middle East conflict tightens global financial conditions significantly,” Nomura analysts added.

More significantly, the rupee’s drop comes despite recent interventions by the Reserve Bank of India (RBI) to stem the fall, including via aggressive dollar sales.

On Friday, the RBI clamped down on speculation in the foreign exchange market by limiting to $100 million the daily currency positions that lenders can have.

“By capping onshore exposure, the RBI forces unwind ... long-dollar positions, draining speculative fuel from the market,” Raj Gaikar of SAMCO Securities told AFP.

Gaikar, however, added that while the measure worked “in intent”, it is not a “trend reversal”.

“Crude above $100 and persistent FII (foreign institutional investor) outflows remain structural headwinds that no position cap can fully neutralise.”

Gold rose on Tuesday but stayed on track ‌for its biggest monthly drop in more than 17 years as investors flocked to the dollar as the favoured safe haven amid the Middle East war that has raised inflation fears and bets for hawkish monetary policy response.

Spot gold ​climbed 0.9 percent to $4,550.68 per ounce by 0727 GMT. US gold futures for April delivery gained ​0.5 percent to $4,580.70.

Bullion has declined more than 13 percent this month, putting it on track for its steepest decline since October 2008. Prices are, however, up about 5 percent for the quarter, having ​scaled a record high of $5,594.82 on January 29. Prices are down 18.70 percent from record highs.

“Traders are still seeing ​gold through the lens of a value investment at these levels, given where the precious metal was trading just a few months ago. So, it’s a combination of falling oil, a dip in the dollar and attractive buying levels, ​which has propelled gold higher today,” said Tim Waterer, chief market analyst, KCM Trade.

Gold is typically seen ​as a hedge against inflation and geopolitical risks, but the war-driven surge in energy costs is also raising expectations ‌for higher interest rates and boosting the dollar’s appeal as the preferred safe haven.

The dollar was headed for its biggest monthly gain since July, making it as the strongest safe asset, supported by the US status as an energy exporter and investors’ flight to cash over the past month of conflict.

Traders have almost ​completely priced out any chance ​of a US rate ⁠cut this year from about two cuts expected before the war.

“If the Strait of Hormuz remains closed, oil prices could remain volatile with potential for ​further upside on supply constraints. So, this high oil story, which has plagued ​gold prices ⁠since the conflict began, hasn’t gone away yet,” Waterer said.

Goldman Sachs, however, said it continues to expect gold prices will reach $5,400 per troy ounce by end‑2026 on central bank diversification and Federal Reserve easing.

Green Delta Insurance PLC has declared a 27% cash dividend for shareholders for the year ended 31 December, 2025.

The announcement was made at the company's 40th annual general meeting, held on 31 March, 2026 through an online conferencing and broadcasting platform.

The meeting was attended by sponsors, directors and shareholders. Company Secretary Md Oliullah Khan, FCS, conducted the AGM with the permission of Chairperson Shamsun Nahar Begum Chowdhury.

The chairperson thanked the shareholders for their continued support and cooperation in the company's growth. She also congratulated members of the Green Delta family for their sincere efforts to ensure uninterrupted customer service and smooth business operations during the economic challenges faced by businesses.

Farzanah Chowdhury, managing director and CEO of Green Delta Insurance, thanked shareholders for their support in helping the company maintain its leading position in the industry. She also expressed gratitude to the team for pursuing excellence amid the difficult economic conditions of 2025.

She expressed optimism about the company's future, citing its diverse service portfolio, digital solutions, automated customer service, agriculture insurance and microinsurance. She also pledged to continue innovation and deliver best-in-class service to ensure financial stability and sustainable growth.

Founding Managing Director Nasir A Choudhury also addressed the shareholders and thanked them for their continued support.

A large number of shareholders joined the online AGM and appreciated the board of directors and management of Green Delta Insurance PLC for the company's performance, corporate governance, dividend declaration and informative annual report for 2025.

India's real GDP growth for the next fiscal (2026-27) could erode by around one percentage point, while retail inflation could rise by about 1.5 percentage points from their baseline estimates if the West Asia conflict persists through the next fiscal, consultancy firm Ernst & Young report said.

The EY Economy Watch report said several sectors, including employment-intensive sectors like textiles, paints, chemicals, fertilisers and cement could be directly impacted.

Any reduction in employment or incomes in these sectors may further dampen aggregate demand. As a result, both supply and demand conditions may be adversely affected by global oil market disturbances, the report added.

It said the Indian economy, which imports nearly 90% of its crude oil requirements, is also highly dependent on imports of natural gas and fertilisers and is particularly vulnerable to such external shocks, with the adverse effects likely to cascade across multiple sectors through strong forward and backward linkages with crude oil and energy.

EY, in its February report, projected India's GDP could be between 6.8% and 7.2% in the 2026-27 fiscal.

The Indian government has already set up a Rs1 lakh crore economic stabilisation fund to act as a financial cushion against global headwinds.

Dove soap maker Unilever has implemented a global hiring freeze "at all levels" that will last at least three months, citing the effects of the widening conflict in the Middle East, according to a memo seen by Reuters.

In the memo, sent to staff late last week and previously unreported, Unilever said the freeze would take effect immediately and was made with an eye on the "significant challenges" from the month-old Iran war.

Firms globally from airlines to retail are scrambling to buttress themselves from the effects of the Iran war, which has snarled global trade flows and resulted in the worst-ever disruption of oil-and-gas supplies in history. The rapid surge in energy costs is already surfacing in other markets, slowing production in industries like chemicals and plastics.

"Macro economic and geopolitical realities, especially the Middle East conflict... bring some significant challenges for the coming few months," Fabian Garcia, head of Unilever's personal care business, wrote in the memo sent to staff.

"With this in mind, the Unilever Leadership Executive team has agreed a global recruitment freeze at all levels. This will be effective immediately and last for a minimum of three months."

The London-based consumer products giant owns some of the world's most prominent brands. While it produces most of its goods where it sells them, it buys chemicals, food, packaging and other raw materials that are energy-intensive to create.

Unilever, in a statement, said that due to the "uncertain external environment, we have decided to put in place a temporary pause on our recruitment," adding that it will "always adjust our plans as necessary."

Unilever was already cost-cutting

The freeze comes on top of an existing cost-cutting programme Unilever has had in place since 2024, meant to save around 800 million euros ($916.72 million) in costs over the next three years. The changes Unilever proposed then were expected to affect around 7,500 jobs globally, mostly office-based.

The firm's current headcount of 96,000 is down from the roughly 149,000 people it employed in 2020.

The company has struggled to grow sales volumes across its businesses in the wake of the Covid-19 pandemic. It is now in talks to sell its foods business to smaller rival McCormick & Company, it said on 20 March.

Under the proposed combination, which would mark a major shake-up under CEO Fernando Fernandez, the British group's shareholders would likely keep a majority stake in the new entity, Reuters reported late last week.

Shares of Unilever rose 1.1% in London trading Monday.

China's factory activity grew at the fastest pace in a year in March, underpinned by improved demand, an official survey showed on Tuesday, a welcome relief for an economy grappling with global supply chain strains and energy market volatility.

The stronger reading eases pressure on policymakers, though its durability is in doubt as surging energy prices driven by the Middle East war, and heightened growth risks, pose fresh headwinds for manufacturers reliant on exports and operating on thin margins.

"The outlook for Q2 is unclear at this stage, given the negative impact from high energy prices," said Zhiwei Zhang, chief economist at Pinpoint Asset Management.

"The market is increasingly worried about the risk of global growth slowdown and supply chain disruption."

The official manufacturing purchasing managers' index (PMI) rose to 50.4 from 49.0 in February, above the 50-threshold and hitting the highest point in 12 months, data released by the National Bureau of Statistics (NBS) showed. It beat analysts' forecast for a 50.1 reading in a Reuters poll.

The manufacturing PMI was in contraction for most of 2025 and the first two months of 2026.

China's goods exports continued to power growth in January and February after last year's record $1.2 trillion trade surplus, buoyed by firm global demand for electronics, particularly semiconductors. The commerce ministry said last week the momentum looked set to hold, even as geopolitical strains linger.

Yet the war in the Middle East is raising concerns for policymakers.

Pressure was already evident in the latest survey. The sub-index for purchase prices of main raw materials jumped to 63.9 in March from 54.8 in February, driven by rising bulk commodity prices and faster procurement by companies, the NBS said.

Output prices also rose, albeit at a more modest pace, suggesting limited pricing power.

War fans business uncertainty amid weak domestic demand

The March PMI data may have been skewed by the Lunar New Year holiday, despite seasonal adjustments to the NBS survey that economists say remain imperfect. The festival fell in February, when factories often shut for longer than the official break, which stretched to a record nine days this year.

Businesses accelerated their resumption of work and production after the holiday and market activity improved, NBS statistician Huo Lihui said in a statement, adding that PMI readings improved across companies of different sizes.

The sub-indexes for output and new orders both rose above 51 from below 50 the previous month, while that for new export orders improved to 49.1 from 45 in February.

China Association of Automobile Manufacturers, an industry association, said earlier this month that the war could affect car exports. The Middle East accounted for around a fifth of China's vehicle exports last year.

Hikes in input costs could pressure wages and job security, which would in turn weigh on already chronically weak domestic demand.

China's economic activity outperformed expectations in the first two months in part due to government support.

The non-manufacturing PMI, which includes services and construction, also increased to 50.1 from 49.5 in February, the NBS survey showed.

Tuesday's PMI survey suggests China's first-quarter GDP growth would likely exceed 4.5%, the floor for Beijing's 4.5%-5.0% target for this year, ANZ analysts said.

ANZ no longer expects rate cuts in 2026 or 2027 given growth stayed within the official goal, saying instead policymakers would likely prioritise structural measures to cushion the impact of the oil shock.

China's leaders have repeatedly vowed to shift the growth engine toward domestic consumption to reduce reliance on external demand. But rebalancing reforms will take time, and as the fallout from the war deepens, businesses are likely to feel the pain more sharply in the near term.

"When the global situation is uncertain, reliance on China's industrial chain increases, similar to the situation at the beginning of the pandemic," said Dan Wang, director for China at Eurasia Group.

"However, exports and PMI may face risks in the second half of the year, as the Iranian issue could lead to a recession in major economies, especially the EU, which is China's most important trading destination."

Bangladesh secured higher foreign loan commitments in the first eight months of the current fiscal year, yet actual disbursement fell by 26 percent compared with the same period last year, raising concerns about the country’s ability to use external funds effectively.

Between the July-February period, foreign loan disbursement dropped to $3.05 billion, down from $4.13 billion a year earlier, according to data released by the Economic Relations Division (ERD) yesterday.

The decline was driven largely by slower project aid, the primary channel for financing infrastructure and development projects.

Disbursement under project assistance fell to just above $3 billion in the first eight months of this fiscal year, compared with over $4.1 billion during the same period last year.

This slowdown comes despite nearly $40 billion in financing commitments from foreign lenders.

Analysts say the widening gap between pledged funds and actual disbursement reflects Bangladesh’s limited capacity to use external resources on time.

Foreign aid is crucial for roads, power plants, and social sector projects, but delays can reduce project benefits and increase costs.

The trend is particularly concerning as Bangladesh’s external debt servicing rises. During the July-February period, the country paid $2.9 billion in principal and interest, up from $2.63 billion a year earlier.

Deen Islam, professor of economics at Dhaka University, said the figures indicate a gradual shift from development financing to debt rollover.

“When a large portion of new external borrowing is used to service existing debt rather than finance productive investment, the net inflow of resources into the economy declines,” he said.

“Infrastructure and development spending may slow, while rising debt servicing puts additional pressure on foreign exchange reserves and the exchange rate,” Islam said.

He added that the situation could also fuel imported inflation. While not yet a crisis, he described it as a “warning sign”.

“If this trend persists, policymakers will face difficult trade-offs between taking on more debt and reallocating domestic resources away from development spending,” he said.

Meanwhile, Monzur Hossain, member (secretary) of the General Economics Division (GED) under the Planning Commission, said, “Loan disbursement is directly tied to project progress. When implementation slows, disbursement inevitably falls.”

He pointed to structural bottlenecks, particularly in investment projects.

“Many projects involve complex conditions, and meeting those requirements takes time. Land acquisition remains a major challenge in many cases,” Hossain said.

He also noted weaknesses in the execution of the Annual Development Programme (ADP) as a key factor. “Since most of these loans are linked to ADP projects, delays in overall project execution translate into slower disbursement,” he added.

During the period of the interim government, many projects were almost stagnant. However, Hossain expressed optimism about improvement in the coming months.

“Now, with a political government in place, monitoring has increased, projects are being prioritised, and delays are being scrutinised more closely,” he said.

“I expect the situation to improve soon, particularly in the final months of the fiscal year as measures taken by the Planning Commission begin to take effect,” he added.

Dhaka Stock Exchange witnessed a second consecutive session of losses today (30 March) as persistent sell-offs, fueled by rising US-Israeli tensions over Iran, dragged the benchmark index down. The DSEX fell 41 points to close at 5,230.

Despite declining prices for 59% of listed stocks, turnover slightly increased by 2.69% to Tk663.87 crore, according to DSE data. The other key indices also ended lower, with the DSES down 5 points to 1,061 and the blue-chip DS30 falling 19 points to 1,979.

Among traded stocks, 111 advanced, 231 declined, and 51 remained unchanged.

Trading opened on a positive note at 10 am but lasted only seven minutes before selling pressure gripped the market, pushing indices into the red. Selling intensified in the latter part of the session, keeping stocks under pressure throughout the day.

EBL Securities said in its daily report that investor sentiment remained cautious amid ongoing geopolitical tensions in the Middle East and a nationwide fuel shortage.

"The market continued its losing streak for the second consecutive session, as investors shifted focus from large-cap stocks to momentum-driven speculative scrips," the report said. "Despite a firm start, broad-based selling emerged midway through the session, intensifying toward the close and dragging the index lower."

On the sectoral front, Pharma stocks accounted for the highest share of turnover at 18.2%, followed by Engineering at 11.7% and Banks at 9.7%.

Among gainers, Hakkani Pulp and Paper led with a 9.92% rise to Tk88.6, followed by Intech Ltd with a 9.41% gain to Tk43 and IFIC First Mutual Fund up 7.69% to Tk4.2.

Prime Finance was the top loser, slipping 9.25% to Tk4.9, followed by FAS Finance down 8.57% to Tk3.2 and Fareast Finance falling 8.33% to Tk3.3.

The port city bourse, Chittagong Stock Exchange, also ended in negative territory. Its CSCX and CASPI fell by 7.1 points and 17.7 points, respectively

Oil prices extended gains on Monday, with ​Brent headed for a record monthly rise, after Yemeni Houthis launched their first attacks on Israel over the ‌weekend, widening the US-Israel war with Iran in the Middle East.

Brent crude futures jumped $3.94, or 3.5 percent, to $116.51 a barrel at 0703 GMT after settling 4.2 percent higher on Friday.

US West Texas Intermediate was at $102.14 a barrel, up $1.86, or 1.87 percent, following a 5.5 percent gain in the previous session.

“The market has all but discounted the prospect of ​a negotiated end to the war, Trump’s claims of ongoing ‘direct and indirect’ talks with Iran notwithstanding, and is bracing for ​a sharp escalation in military hostilities, which is a bullish signal for crude, with huge uncertainties on the timing and nature of the outcome,” said Vandana Hari, founder of oil market analysis provider Vanda Insights.

US President Donald Trump said ​the US and Iran have been meeting “directly and indirectly” and that Iran’s new leaders have been “very reasonable”, as more U.S troops arrived in ​the region, while the Israeli military said on Monday it is attacking the Iranian government’s infrastructure throughout Tehran.

Brent has soared 59 percent this month, the steepest monthly jump, exceeding gains seen during the 1990 Gulf War, after the Iran conflict effectively closed the Strait of Hormuz, a conduit for a fifth of the world’s ​oil and gas supplies.

The war, launched on February 28 with US and Israeli strikes on Iran, has spread across the Middle East, ​raising concern about shipping lanes around the Arabian Peninsula and the Red Sea.

The Israeli military on Monday said Iran launched multiple waves of missiles at Israel ‌and an ⁠attack had also been launched from Yemen for only the second time since the war began.

“The conflict is no longer concentrated in the Persian Gulf and around the Strait of Hormuz, but now extends into the Red Sea and the Bab el-Mandeb — one of the world’s most crucial chokepoints for crude and refined product flows,” JP Morgan analysts led by Natasha Kaneva said in a note.

Saudi crude exports ​re-directed from the Strait of ​Hormuz to the Yanbu port ⁠in the Red Sea reached 4.658 million barrels per day last week, data from analytics firm Kpler showed.

If exports from Yanbu were disrupted, Saudi oil would need to pivot toward Egypt’s Suez-Mediterranean (SUMED) pipeline to ​the Mediterranean, JP Morgan analysts said.

Attacks in the region escalated over the weekend and damaged Oman’s Salalah ​terminal despite efforts ⁠to start ceasefire talks.

Iran said it was ready to respond to a US ground attack, accusing Washington on Sunday of preparing a land assault even as it sought negotiations.

Pakistan’s Foreign Minister Ishaq Dar said they had covered possible ways to bring an early and permanent end to the ⁠war in ​the region as well as potential US-Iran talks in Islamabad.

Separately, Vietnam’s Binh Son ​Refining and Petrochemical on Monday said it is in talks with Russian partners to buy crude oil. The company said it would also buy more crude oil from Africa, ​the US and Southeast Asia.

Foreign loan disbursement declined by 26.2% in the first eight months (July–February) of the current fiscal year.

According to an updated report published today (30 March) by the Economic Relations Division (ERD), development partners disbursed $3.053 billion during this period, compared to $4.134 billion in the same period of the previous fiscal year.

ERD officials said the slowdown in project implementation due to elections led to the drop in disbursement. The administration remained focused on the election during the current fiscal year, which slowed the pace of development project implementation and affected foreign loan disbursement.

Officials also noted that, similar to the previous fiscal year, there was administrative instability at the beginning of the current fiscal year and during the interim government period. At the same time, there was a lack of confidence among development partners, which further slowed project implementation from the outset.

In addition, after the Awami League government lost power in 2024, many project directors and related officials left their positions. Appointing new project directors took time, and this situation persisted into the first half of the current fiscal year, disrupting both project implementation and fund disbursement.

Meanwhile, ERD data show that in the first eight months of the fiscal year, Bangladesh repaid nearly the same amount to development partners as it received in disbursements.

According to ERD, Bangladesh repaid $2.899 billion in principal and interest on past loans during July–February, while disbursement during the same period stood at $3.05 billion.

In the same period of the previous fiscal year, Bangladesh repaid $2.636 billion to development partners.

Officials said repayments have increased as grace periods for many previously taken loans have ended. However, on a full-year basis, repayments are still expected to remain lower than disbursements. For example, Bangladesh repaid $4.086 billion in the previous fiscal year, while disbursements were $8.56 billion. Similarly, although repayments may rise by the end of the current fiscal year, they are unlikely to exceed disbursements.

ERD data show that Bangladesh repaid $1.943 billion in principal during the first eight months, up from $1.692 billion in the same period last year.

Interest payments during this period amounted to $955.8 million, compared to $944.1 million in the same period of the previous fiscal year.

Meanwhile, Bangladesh secured $2.431 billion in foreign loan commitments during July–February, slightly higher than $2.353 billion in the same period last year.

ERD sources said that last fiscal year's student-led uprising, change of government, administrative instability, and lack of confidence among development partners contributed to lower loan commitments. Although the situation has improved in the current fiscal year, the interim government remains cautious about foreign borrowing, which has limited the pace of new commitments. However, commitments are expected to increase under a newly elected government.

Mustafa K Mujeri, executive director at the Institute for Inclusive Finance and Development, said development partners generally feel more comfortable working with a stable and democratically elected government. As a result, during the interim government period, both major loan commitments and disbursements remained low except for urgent needs. This contributed to the decline in disbursement compared to the previous fiscal year. Although commitments have increased somewhat in the first eight months, the rise is not significant.

He added that repayment of foreign loans taken in previous years has now become a major pressure. As repayment periods for loans taken under the previous government begin, the amount of repayment is increasing. Currently, disbursement and repayment are nearly at the same level, which could increase pressure on foreign exchange reserves.

According to him, if new loan inflows do not increase, this pressure may intensify in the future. At the same time, global uncertainties, including the Middle East conflict, have increased costs of energy, transport, and insurance. Importing oil and LNG from alternative sources at higher prices is putting additional strain on reserves. The current reserve stands at around $30 billion, and increasing it to $40-45 billion could bring some relief. In this situation, the government is seeking budget support from the International Monetary Fund, World Bank, and Asian Development Bank to ease pressure on reserves.

Mujeri said coordinated efforts are essential to tackle the crisis. Strengthening foreign assistance, expanding exports, boosting reserves, and controlling expenditure will help Bangladesh address these challenges.

According to ERD data, Russia disbursed the highest amount – $755.15 million – during July-February, mainly for the Rooppur power project. The World Bank disbursed $636 million, the Asian Development Bank $566.19 million, China $257.72 million, Japan $189.36 million, and India $152.89 million.

In terms of commitments, the Asian Development Bank provided the highest at $1.269 billion during the first eight months. The World Bank committed $416.25 million, while European Union countries pledged $392.07 million.

A dedicated division under Bangladesh Bank spearheads anew stolen-asset-recovery initiative with over 200 high-value non-performing loan (NPL) cases under scrutiny, each involving an estimated Tk 2.0 billion.Bangladesh market analysis

A newly established unit--Stolen Asset Recovery Division--is currently validating the amounts using data from the Credit Information Bureau (CIB), says Farhanul Gani Choudhury, adviser to the governor on stolen asset recovery.

Talking to The Financial Express, he said the 200 cases were shortlisted from NPL data submitted by commercial banks to the central bank. According to compiled information, these cases collectively account for approximately $12 billion or Tk 1.47 trillion in NPLs.

Bangladesh's total NPL volume stood at Tk 5.57 trillion as of December 2025, according to BB data.

Mr Gani clarifies that while the total NPL amount in these 200 cases is under intelligence scrutiny, it does not necessarily mean that the entire sum has been siphoned off.

"The SAR has now started working under a single platform to proceed in a structured way," he says.

The division will prioritise cases based on the number of banks affected by each NPL, he adds.

Under the second phase, SAR has engaged with 40 banks.Personal finance tools

Through civil proceedings, the division aims to determine how much of the NPL amounts in these 200 cases has actually been siphoned off the banking system.

Meanwhile, the first phase of the SAR initiative is also progressing in full swing.

"These 200 cases involve around 200 companies and individuals - a mixed group. While individuals are involved, they often operate through companies," Mr Gani says, without naming names of the suspects.

He notes that many of these borrowers are multi-bank clients, meaning a single individual has taken loans from multiple banks.

Sharif Zahir, chairman of UCB, which was the first bank to sign an NDA in the case involving former land minister Saifuzzaman Chowdhury, has said the response from litigation funders on asset recovery has so far been disappointing.

"One firm, FT, initially responded but later backtracked. Perhaps they found the amount not large enough or not sufficiently attractive," he says.Premium content access

He adds that UCB moved quickly to claim the alleged stolen assets in order to appoint an administrator. Grant Thornton has since taken over the administratorship.

"If we proceed through civil litigation, it is not that difficult to recover stolen assets. However, criminal proceedings require government-to-government agreements, which make the process more complex."

Mr Zahir expresses optimism about recovering at least part of the assets linked to Saifuzzaman Chowdhury, some of which have already been put up for sale in the UK.

On the 200 cases, Mr Gani explains that in cases where a single defaulter is linked to 10 or 15 banks, coordination becomes essential.

For cases involving only one bank, such coordination is not required, and the choice of international firm becomes less critical. However, in multi-bank exposures, a consortium or lead-bank approach is necessary.

"I have established an entirely new department. This work would not be sustainable without a strong institutional structure," he told the FE.

The SAR division consists of around 12 officials led by a director, in line with the organogram approved earlier by former BB governor Dr Ahsan H Mansur and endorsed by the current governor.

At a meeting with senior journalists on Sunday, the new BB governor reaffirmed his position to proceed on SAR without political and other interventions.

A director has already been appointed and is actively working on SAR. Previously, these responsibilities were partially handled by the Bangladesh Financial Intelligence Unit (BFIU), but now all asset- recovery functions have been consolidated under one umbrella.Bangladesh market analysis

All members of this division are officials of Bangladesh Bank. The structure includes one director from BFIU, two additional directors, four joint directors, and several assistant and deputy directors. Given the technical nature of the work, an IT specialist will also be appointed.

BFIU Director Syed Mahbub, who has been closely involved in SAR efforts from the outset, is also part of the division.

The division of crusaders for stolen asset recovery includes two to three joint directors who have completed two-year master's degrees in asset recovery from the UK, bringing valuable international expertise and knowledge of global best practices.

Under Phase 1, SAR has completed 36 non-disclosure agreements (NDAs) with 10 banks. NDAs have also been signed with nine international firms, and data sharing is now underway.

United Commercial Bank, Janata Bank, National Bank, Al-ArafahIslami Bank, Agrani Bank, AB Bank, and Islami Bank Bangladesh, among others, have signed the agreements with the law firms.

The global law and litigation firms engaged are Kroll, R1 Consortium, Interpath, Dentons/EY, DLA Piper/Unitas Global, PwC/Baker McKenzie, Omni Bridgeway, and Grant Thornton.Personal finance tools

"Data is the most critical element. Everything I have done so far has been through coordination. Now we will be able to assess how viable this data is for building cases internationally," Mr Gani further says.

He explains that prior to signing NDAs, international firms did not have access to case-level data and were relying only on broad macroeconomic estimates of capital flight.

"Now it will become clear how much of this can actually stand up in international jurisdictions. Based on this, they will need to convince their litigation funders. Once they receive positive feedback from those funders, they will proceed with commercial contracts."

The SAR division has already begun seeking feedback from international firms, with mixed responses so far.

Some banks have performed well by properly organising and indexing their data and clearly presenting their proceedings in the Money Loan Court. Others, however, have submitted unstructured data, reflecting gaps in capacity and understanding.

"I plan to organise a best-practice session where better-performing banks will demonstrate to others how to prepare and present data to the required standard," he says.

SAR has also asked international firms to formally outline their minimum data requirements to ensure clarity in expectations.

Officials have observed that not all international firms operate the same way - some are more supportive and flexible, while others are less so.

German companies are so deeply tied to both the United States and China that they cannot decouple from either without severe economic costs, according to a study by the University of Sussex and King's College London seen by Reuters on Monday.

The researchers mapped sales, production and supply-chain exposures of firms listed on Germany's DAX and MDAX indices, finding that dependence on the world's two biggest economies runs across sectors and individual companies.

Automakers and machinery groups are most reliant on China as a market, while chemical and pharmaceutical firms depend more heavily on the US for research, development and production, the study said. Digital, telecoms and semiconductor companies, meanwhile, are highly exposed to suppliers in both countries.

"Leading industrial players like Siemens and BMW were built in a fundamentally globalised system and can't decouple from either China or the US without devastating losses," University of Sussex political economist Steven Rolf, a co-author, said.

The study said BMW generates more revenue from China than from the United States, while also depending on Chinese battery supplier CATL for more than 1.4 billion euros ($1.5 billion) in inputs.

Siemens gets 24% of revenue from the United States and 12% from China, with supplier networks heavily exposed to both.

The findings underscore the difficulty for Berlin in crafting a clear strategy as US-China tensions intensify, Rolf said.

Overseas credit card spending by Bangladeshis declined by 5.74%, falling to Tk463 crore in January from Tk491.2 crore the previous month, according to the latest report of the Bangladesh Bank.

However, Bangladeshis spent the highest amount using credit cards in Thailand in January 2026, totalling Tk69.4 crore, reveals it.

The central bank's report titled "An Overview of Card Usage Patterns Within and Outside Bangladesh" showed that spending in Thailand increased from Tk64.9 crore in December.

After Thailand, the United States was the second most popular destination, where spending stood at Tk67.5 crore in January, slightly down from Tk68.2 crore in December.

The United Kingdom ranked third with Tk38.4 crore in spending, also decreasing from Tk44.4 crore a month earlier.

Spending in Singapore rose slightly to Tk38.3 crore while expenses in India dropped significantly to Tk28.5 crore from Tk35.1 crore in December.

According to the report, India had been the top destination for Bangladeshi credit card spending until August 2024. However, stricter visa policies have reduced travel to India, shifting spending to other countries.

The report also showed debit card usage abroad, with the UK, US, China and India topping the list.