The Board of Directors of Bangladesh Bank (BB) has given primary approval to the liquidation of five Non-Bank Financial Institutions (NBFIs) that are struggling with massive loan defaults and an inability to repay depositors.
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The liquidation process for these institutions is expected to commence in July, according to sources privy to the decision made during a board meeting chaired by Governor Mostaqur Rahman on Tuesday.

The five institutions slated for liquidation are FAS Finance, Fareast Finance, Aviva Finance, People's Leasing and Financial Services, and International Leasing and Financial Services.

According to the central bank data, the non-performing loan (NPL) ratios of these institutions have reached critical levels, ranging from 93 per cent to nearly 100 per cent. Due to their prolonged failure to recover loans, they have been unable to honour withdrawal requests from depositors.

The central bank plans to shut down these entities under the Bank Resolution Act 2026. As part of the process, it will appoint one of its directors as an administrator for each institution, assisted by two additional officials. These institutions will eventually be declared defunct.

Central bank officials estimate that approximately Tk 50 billion will be required to return funds to individual depositors. The central bank reportedly moved forward with the liquidation decision after receiving positive assurances from the government regarding fund allocation in the upcoming national budget.

The Bank Resolution Act provides a framework for the merger, restructuring, or closure of financially distressed institutions and dictates how assets should be liquidated to pay off creditors.

The decision follows a lengthy review process. In May last year, the central bank issued show-cause notices to 20 NBFIs for high NPLs and failure to return deposits. Later, nine institutions with unsatisfactory recovery plans were earmarked for closure. That list was trimmed to six in January and finally to five, with Premier Leasing being excluded from the current final list.

The financial health of these entities, as of December last, paints a dire picture with FAS Finance having 99.99 per cent NPL ratio, International Leasing 99.44 per cent, Fareast Finance 98.50 per cent, People's Leasing 95 per cent and Aviva Finance 93.93 per cent NPL ratio.

Industry insiders attribute this collapse to years of systemic irregularities, corruption, and massive loan scams. Notably, disgraced businessman PK Halder is accused of embezzling at least Tk 35 billion from four institutions: People's Leasing, International Leasing, FAS Finance, and BIFC.

Bangladesh's pharmaceutical industry may face major pressure after the country graduates from Least Developed Country (LDC) status, stakeholders warned.

They said many medicines currently produced under patent waiver facilities may no longer be manufactured without licences from international companies once those benefits end. This could raise production costs and push up medicine prices.

Experts said Bangladesh will struggle to remain competitive in international markets unless investment in research and development (R&D) increases.They also warned that next-generation medicines for cancer and other complex diseases could become unaffordable for ordinary people.
The issues were discussed today (13 May) at a workshop held at Pan Pacific Sonargaon Hotel in the capital. The inception workshop, titled "Strengthening Competitiveness and Innovation of the Pharmaceutical Industry for Sustainable Growth in the Context of LDC Graduation," was jointly organised by the Asian Development Bank (ADB) and the Health Economics Institute.

The keynote paper was presented by health economist Professor Dr Syed Abdul Hamid. He said Bangladesh is currently able to produce many generic medicines without licences from global companies, helping keep production costs low and prices affordable.

"The situation may change after LDC benefits expire," he said.

"Production of newly patented medicines would then require licences, compliance with international standards, and mandatory bioequivalence and biosimilar testing. Most local firms are not yet fully prepared for this, meaning tests may need to be conducted abroad, increasing costs," the professor added.

The Bangladesh Bank has reduced the penal interest rate on overdue loans to 0.5% from the previous 1.5%, offering borrowers additional relief in case of delayed repayments.

The central bank issued a circular in this regard today (13 May), instructing all scheduled banks to implement the decision with immediate effect.

Earlier, in a circular issued in May 2024, the central bank had fixed the penal interest rate at 1.5%.

According to the new circular, if a loan or instalment is classified as partially or fully overdue, banks will now be allowed to charge a maximum penal interest rate of 0.5% on the outstanding balance for continuous and demand loans, and on overdue instalments for term loans.

Bankers, however, criticised the move, saying higher penal interest rates are generally maintained to encourage borrowers to repay instalments on time.

They argued that reducing the penalty by 100 basis points could weaken repayment discipline and create additional pressure on banks.

Several bankers warned that the decision could further worsen the already rising volume of default loans in the banking sector.

A deputy managing director of a private commercial bank told The Business Standard that banks may respond by increasing regular lending rates.

"Currently, lending rates are around 14.5%. Due to the reduction in penal interest, some banks may raise rates to 15.5%, and ultimately the burden will fall on borrowers," he said.

A managing director of another private bank said the policy would put additional pressure on banks' profitability and could encourage habitual defaulters. "This kind of policy may encourage borrowers who already fail to repay loans regularly."

A senior official of a private bank said overdue loans already create operational and financial complications for banks, and the latest decision effectively lowers the cost of delayed repayment for borrowers.

He also noted that since 2024, Bangladesh has followed a three-month overdue classification timeline in line with international practices, although some business groups have demanded extending the period to six months.

"That would be completely inappropriate and could increase default loans further," he said.

The official added that banks will eventually have to fully comply with IFRS 9, which would make risk management stricter. "Good businesses do not seek these kinds of facilities. Responsible borrowers are already repaying banks on time."

The Bangladesh economy remained in a "fragile and uneven recovery phase" during the January–March quarter of FY2025–26, as persistent inflation, weak private investment, subdued industrial activity and external sector pressures continued to weigh on overall economic momentum, according to the Metropolitan Chamber of Commerce and Industry.

In its latest "Review of Economic Situation in Bangladesh" for Q3 of FY26, published yesterday (12 May), the business body said although the political and administrative instability that followed the transition period in late 2024 has eased considerably, the economy has yet to regain strong momentum.

"High living costs, cautious private sector sentiment and weak industrial expansion continued to weigh on overall economic performance," the report stated.

According to the review, economic growth during the January–March quarter remained modest due to slower export expansion, subdued private investment and the continuation of tight monetary policy aimed at containing inflation.

Restrictive credit conditions, elevated borrowing costs and high inflation continued to suppress domestic demand, business expansion and consumer spending during the quarter, the report said.

Despite the challenges, the chamber said strong remittance inflows continued to support the economy by stabilising foreign exchange reserves and partially offsetting the impact of a widening trade deficit.

The finance ministry is struggling to manage the sharp rise in LNG subsidy costs after international gas prices more than doubled following the Iran war.

Subsidy demand for just the first two months after the conflict started equals to the Tk8,000 crore allocated for the whole fiscal year.

Finance Division officials said monthly subsidies for LNG imports have risen to between Tk4,100 crore and Tk4,200 crore since the war began. As invoices for spot market LNG must be paid within 15 to 17 days of delivery, subsidy payments have to be released quickly.

In April, Petrobangla's deficit from LNG imports stood at Tk4,220 crore. Against this, the ministry sought Tk4,200 crore in subsidies from the finance ministry. However, the finance ministry released Tk2,500 crore in April, which Petrobangla used to cover part of the import costs.

For May, the Energy and Mineral Resources Division wrote to the finance ministry on 7 May requesting another Tk3,500 crore in subsidies, citing plans to import 11 LNG cargoes during the month.

According to the letter, signed by Senior Assistant Secretary Rafiqul Islam, Bangladesh plans to import two cargoes under long-term contracts, one under a short-term contract, and eight from the spot market in May. Six cargoes are scheduled for the first half of the month and five for the second half.

The total cost of importing these 11 cargoes is estimated at Tk7,730 crore, while Petrobangla expects to earn Tk3,630 crore from sales. This would leave a deficit of Tk4,100 crore. Only Tk500 crore has been allocated for May subsidies, creating an additional funding need of Tk3,600 crore.

The Energy Division warned that failure to pay invoices on time would trigger late payment charges. It said delayed payments could also lead to extra premium charges on LNG purchases, increasing the deficit further.

The division has therefore requested the urgent release of Tk1,999 crore by 15 May and another Tk1,610 crore by 31 May in favour of Petrobangla to meet May's LNG subsidy requirements.

The Bangladesh Bank has issued the "CIBRR-1 Economic Development Sukuk", with total bids worth nearly 12.30 times the offered amount, reflecting strong investor demand for the latest government Islamic investment instrument.

According to a press release, the auction was held for the 8th Bangladesh Government Investment Sukuk, issued against the Rural Road Important Bridge Construction Project, with a face value of Tk5,900 crore and a tenure of 7 years. The Sukuk carries an annual lease return (rent rate) of 10.40%.

The central bank said a total of Tk72,597.94 crore in bids was submitted by a wide range of investors, including Islamic banks and financial institutions, Islamic banking branches and windows of conventional banks, individual investors, and provident funds. As the bids exceeded the issued amount by around 12.30 times, allocation was made on a proportional basis among investors.

For the first time, the Sukuk auction was conducted using the Bangladesh Bank's in-house digital platform, the Shariah Securities Module (SSM).

The central bank said the Sukuk issuance is enabling the government to channel liquidity from Shariah-based banks and financial institutions into development projects, while also creating alternative investment avenues for Islamic financial institutions.

It further noted that the instrument provides individual investors in the country with opportunities to invest in Shariah-compliant securities.

Banks and financial institutions will be able to use the Sukuk as part of their Statutory Liquidity Reserve (SLR), while Islamic banking branches and windows of conventional banks can use holdings of the Sukuk as collateral to access the Islamic Banks Liquidity Facility (IBLF) from Bangladesh Bank.

From 14 May 2026, Shariah-based banks, financial institutions, Islamic insurance companies, conventional banks and insurers, Islamic banking branches and windows, as well as individual investors, will be able to buy and sell the Sukuk in the secondary market, the central bank said.

In total, Tk441.62 crore worth of Sukuk was allocated against 1,011 successful bids from individual investors, provident funds, mutual funds and deposit insurance-related categories.

The Bangladesh Bank said the 8th government investment Sukuk is expected to play a positive role in improving rural infrastructure and socio-economic conditions in the project area through the development of bridges and rural roads.

United States (US) Ambassador to Bangladesh Brent T. Christensen has discussed expanding energy cooperation with leading American energy companies, reaffirming Washington's commitment to supporting Bangladesh's growing energy and infrastructure needs.

The envoy met Javier La Rosa, President of Chevron, to discuss ongoing cooperation in Bangladesh's energy sector, the US embassy in Dhaka said today (13 May).

The embassy said Chevron currently supplies nearly 60 percent of Bangladesh's natural gas, helping power homes, industries and economic activities across the country.

The US ambassador also held talks with Steven Kobos, president and chief executive officer of Excelerate Energy, on meeting Bangladesh's growing energy demand through American innovation and expanded LNG and energy infrastructure.

The discussions focused on delivering cleaner and more reliable energy to households and businesses, the embassy said.

The envoy recently led a delegation of 25 Bangladeshi business leaders to the SelectUSA Investment Summit in Washington, D.C.

Meanwhile, Assistant US Trade Representative Brendan Lynch recently visited Bangladesh and held meetings with government officials, business leaders, companies and labour organisations.

The two sides discussed ways to strengthen bilateral trade and investment ties through implementation of the US-Bangladesh agreement on reciprocal trade aimed at improving market access, removing investment barriers and expanding commercial opportunities.

Eastern Bank PLC (EBL) posted a 28% year-on-year rise in consolidated net profit in the first quarter of 2026, driven by higher investment income and strong foreign exchange earnings, says a press release.

According to the bank's January-March financial statement, consolidated profit after tax rose to Tk199 crore from Tk155 crore in the same period last year.

Consolidated earnings per share increased to Tk1.24 from Tk0.97 a year earlier, while net asset value per share rose to Tk32.75 from Tk26.41.

EBL Managing Director Hassan O Rashid said the bank delivered resilient performance despite slower private sector credit growth.

"We continue to remain focused on maintaining strong asset quality, liquidity and capital strength while ensuring superior financial result for our shareholders." he added.

The bank's standalone non-performing loan ratio stood at 2.80%, almost unchanged from 2.79% a year earlier and well below the industry average.

EBL's standalone capital-to-risk weighted assets ratio was 16.71%, higher than the regulatory requirement of 12.5%.

By the end of March 2026, deposits grew 20% year-on-year to Tk56,207 crore, while standalone total assets rose to Tk76,961 crore.

BRAC Bank reported that its consolidated net profit jumped by 44% to reach Tk695.68 in the January-March quarter of 2026.

According the bank's price sensitive statement, its consolidated earnings per share was Tk2.90 in the first quarter, which was Tk2.02 during the same quarter a year ago.

The bank said, net profit was driven by higher interest income as well as investment income. Moreover, robust performances fron the subsidiaries companies also helped to post such profit growth during the quarter compared to the previous year.

The board of Bangladesh Bank yesterday decided in principle to liquidate five non-bank financial institutions (NBFIs) from July this year, according to central bank officials.

The non-banks are FAS Finance, Fareast Finance, Aviva Finance, People’s Leasing and International Leasing.

Before the liquidation process begins, the central bank will announce a scheme for depositors. Under it, individual depositors with savings of up to Tk 10 lakh will receive a full refund of their principal amounts, but no interest payments.

Officials familiar with the matter told The Daily Star that the central bank will seek funds from the Ministry of Finance to meet the repayment obligations.

The decision was taken at the central bank board meeting yesterday. It was chaired by Bangladesh Bank Governor Md Mostaqur Rahman.

Central bank officials said that individual depositors with savings above Tk 10 lakh will be repaid on a proportional basis, depending on the availability of funds and the size of their deposits.

To manage the process, they said the central bank is planning to introduce a separate repayment mechanism.

Earlier, the Bangladesh Bank board under the interim government approved the liquidation of six non-banks, including Premier Leasing.

In November last year, it approved the liquidation proceedings under the Bank Resolution Ordinance 2025, the country’s first comprehensive framework for resolving failed banks and non-banks.

The latest decision to liquidate five NBFIs came amid protests by depositors of the distressed institutions.

On May 7, an alliance representing more than 12,000 depositors of six troubled NBFIs urged the central bank to take urgent steps to return their long-frozen funds.

The six institutions are FAS Finance, Premier Leasing, Fareast Finance, Aviva Finance, People’s Leasing and International Leasing.

The depositors have submitted multiple memorandums to the Bangladesh Bank governor, saying they have faced severe financial hardship, mental distress and a humanitarian crisis as their savings have remained locked for nearly seven years.

“Many depositors are unable to access treatment for critical illnesses such as cancer, kidney disease, and heart conditions due to a lack of funds,” one memorandum said, adding that several depositors had already died without receiving necessary medical care.

Over the years, several NBFIs have collapsed due to widespread mismanagement, weak governance and heavy exposure to non-performing loans. Poor regulatory intervention and oversight failures further deepened the crisis, eventually leading to liquidation.

Under the interim government, the regulator initially proposed liquidating nine NBFIs: FAS Finance, Bangladesh Industrial Finance Company (BIFC), Premier Leasing, Fareast Finance, GSP Finance, Prime Finance, Aviva Finance, People’s Leasing and International Leasing.

According to Bangladesh Bank data, these nine institutions hold deposits worth Tk 15,370 crore, of which Tk 3,525 crore belongs to individual depositors and Tk 11,845 crore to banks and corporate clients.

After hearings in January this year, three institutions, Prime Finance, GSP Finance and BIFC, were given three to six months to improve their financial condition.

As of September 2025, the country’s 35 NBFIs had non-performing loans of Tk 29,408.66 crore, accounting for 37.11 percent of total outstanding loans of Tk 79,251.11 crore, according to Bangladesh Bank data.

A year earlier, in September 2024, the sector’s non-performing loan ratio stood at 35.52 percent.

Major Asian ​liquefied natural gas (LNG) importers Japan and South Korea ramped up coal-fired power generation in April and into early May, ‌market data showed, as the Iran war disrupted supplies of the super-chilled fuel and boosted prices.

Japan’s gas-fired power supply hit two-year lows in April and South Korea’s dropped to six-month lows, according to data from the Japanese Electricity Market Data Hub and Korea Power Exchange (KPX).

The switch underscores how the conflict is reshaping power ​generation patterns after Iranian retaliation to US-Israeli attacks knocked out 17 percent of LNG export capacity in No. 2 global supplier Qatar.

“The longer ​this war continues, the more switching we will see,” Andre Lambine, a power analyst at S&P Global Energy, told a recent industry event.

In April, coal-fired power supply in Japan surged 11.1 percent, the fastest pace in at least a year, as ​gas-fired power plunged 12.9 percent to 16,447 gigawatt-hours (GWh), statistics from the Japanese Electricity Market Data Hub showed.

Japan and South Korea typically use LNG to ​offset nuclear maintenance shutdowns before demand starts rising in June.

“Japan’s rising coal power output displaced roughly 4 LNG cargoes in April - already about half the annual imports the government expected to avoid by using more coal,” said Fei Xu, senior gas analyst at ICIS.

“This has helped maintain end-April LNG inventories near 5-year averages.”

South ​Korea’s coal-fired power supply rose 39.7 percent annually to 10,733 GWh in April - the sharpest rise since August 2019, while gas-fired power fell 6.4 percent, ​data from KPX showed.

Nuclear supply fell 2.7 percent annually in Japan and 14.6 percent in South Korea in April ‌and continued declining in the first 10 days of May, the data showed.

The conflict is reshaping power generation after attacks disrupted 17% of LNG export capacity in Qatar, the world’s second-largest supplier
That was offset by an 18.3 percent annual increase in coal-fired supply in Japan and 14.7 percent in South Korea in May, as gas-fired power plunged 23.4 percent and 12.2 percent respectively.

S&P’s Lambine said South Korea could use more coal as its coal-fired power plants remained underutilised, while ICIS’ Xu said Japan’s ability to switch from gas to coal may be larger and faster ​than expected.

Elsewhere, a heatwave across ​Southeast Asia drove a 12.3 percent surge ⁠in Vietnam’s coal-fired output to a record 17,864 GWh last month, pushing coal’s share in its power mix to the highest since March 2024, government data showed.

The war-induced LNG supply crisis and hot weather ​also drove a surge in Asian thermal coal shipments in May outside China and India - the top ​global coal users, ⁠with imports by countries set to rise 9.4 percent annually to 31 million metric tons, according to London-based DBX Commodities.

Vietnam’s electricity-grade coal imports surged to a record 5.4 million tons in April, Kpler data showed.

In May, coal imports by South Korea and Japan are on track for annual rises of ⁠more than ​50 percent and 20 percent respectively, the data showed.

Asian spot LNG prices have surged 62 percent since ​the start of the war, dwarfing a 13 percent rise in the Newcastle coal benchmark . Coal’s supply chain to Asian markets is unaffected by the war.

“Coal’s value is increasingly ​being defined by security rather than economics,” said DBX Commodities CEO Alexandre Claude.

Finance Minister Amir Khosru Mahmud Chowdhury directed authorities to work towards bringing at least one member from each of the country’s nearly 4 crore families under the Universal Pension Scheme (UPS) by 2030.

The directive came at a high-level meeting held at the finance ministry yesterday to review the progress, challenges, and future roadmap of the pension scheme.

During the meeting, officials said a total of 377,545 people had enrolled in the four existing schemes -- Probash, Progoti, Surokkha, and Somota -- as of April 30 this year.

The pension fund has so far accumulated Tk 256 crore in contributions, while total investments, including profits, have reached Tk 280 crore, according to a press release.

The previous Awami League government rolled out the UPS in August 2023 with a view to bringing the country’s growing elderly population under a single social security system.

Khosru stressed the need to further expand the pension scheme, particularly among people working in the informal sector, who account for nearly 85 percent of the employed workforce.

They remain without any retirement protection, he said.

Officials at the meeting also highlighted concerns over the country’s growing ageing population and the increasing dependency ratio in the coming decades, the press release said.

The meeting discussed several proposals aimed at making the scheme more attractive and inclusive, including the introduction of a Shariah-based pension scheme, lifetime pension benefits for nominees, and the inclusion of outsourced workers under the Progoti scheme.

Officials also informed the meeting that the Asian Development Bank (ADB) has pledged $100 million in concessional loans for a project to strengthen the UPS.

Currently, contributions can be deposited through 45 banks and financial institutions, as well as mobile financial services such as bKash and Nagad.

The finance minister also emphasised the importance of strengthening public confidence in the pension system through wider awareness campaigns, enhanced cybersecurity measures, and the recruitment of skilled professionals.

Islami Bank Bangladesh reported that it incurred a loss of Tk288 crore in the January-March quarter of 2026.

According to the bank's price sensitive statement, its consolidated loss per share was Tk1.79 in the first quarter.

The bank said, it incurred the loss mainly due lower interest earnings, higher deposit cost and rising non performing loan.

The Bangladesh Startup Investment Company (BSIC), a venture capital platform formed by 39 commercial banks, plans to invest from its inaugural $35 million fund in at least three firms over the next four months, according to officials involved in the process.

They, however, also said the number of recipient companies could exceed during the period.

The announcement of the investment came at the launch event of BSIC at the Radisson Blu Water Garden Hotel yesterday (12 May), where officials described the initiative as the country's first institutionally governed venture capital platform backed by banks.

Finance Minister Amir Khosru Mahmud Chowdhury attended the launch event as the chief guest, while Bangladesh Bank Governor Md Mostaqur Rahman was present as the special guest.

Mashrur Arefin, managing director of City Bank, serves as the chairman of Bangladesh Startup Investment Company.

The platform launched the "Onkur Bangladesh Fund 1" with committed capital of around Tk425 crore or $35 million. Participating banks will contribute 1% of their annual net profits to the fund, creating a recurring capital structure rather than a one-time allocation.

BSIC officials stated that the fund will invest in seed, late-seed and Series A-stage startups. While the investment scope is broad, agro-based and technology-focused ventures are likely to receive priority.

However, the company will not provide financing at the very initial stage of a startup. Instead, it plans to back ventures that have already demonstrated operational and growth potential, with further investments to be made in phases to support expansion.

Officials also said the disbursement policy is still being finalised, although investments are expected to be made through equity participation.

Alongside domestic investment, BSIC is also working to attract foreign investment into Bangladesh's startup ecosystem in an effort to strengthen funding opportunities for local ventures.

The launch event was attended by representatives from several international investment firms and development-focused organisations, including VentureSouq, Wavemaker Partners, 500 Global, Plug and Play, ADB Ventures, GFR Fund, Sturgeon Capital, Conjunction Capital and Orbit Startups, as well as regional technology media outlets Tech in Asia and FWDstart.

Officials said the platform is currently in discussions with international investors and development partners to mobilise additional capital alongside its own investments.

The initiative is being seen as a major effort to mobilise domestic financial capital for Bangladesh's startup ecosystem, which has historically relied heavily on foreign investors.

Speaking at the event, Amir Khosru said, "This fund will not be used for political motives, and there will be no political intervention." He said the fund would operate free from political interference and would be used solely to support the growth of startups.

"Bangladesh is entering a new phase of economic transformation, where future growth must increasingly come from productivity, technology, entrepreneurship, and private sector innovation," the minister further said.

"BSIC reflects confidence in our young entrepreneurs and in the ability of domestic institutions to help build the next generation of nationally and globally competitive companies."

Governor Mostaqur said the BSIC fund will be managed independently and will support start-ups, helping strengthen the rural economy. "BSIC represents an important step in mobilising domestic capital for productive, technology-enabled enterprises that can contribute to employment, productivity, and financial inclusion," he said.

"We expect the Association of Bankers, Bangladesh, to support the initiative of Bangladesh Bank in building a cashless society," he further said, adding that another initiative would be implemented in the coming days.

According to published data, Bangladesh's startup sector has received more than $1 billion through over 450 investment deals since 2010. However, less than 7% of the total investment came from domestic sources.

Addressing the event, Mashrur Arefin said the fund would prioritise SMEs and technology-based companies, although non-tech businesses would also be eligible. "This fund helps the growth of companies, and a company can expand their business through BSIC's equity participation," he said.

Mohammad Ali, managing director and CEO of Pubali Bank PLC and also a board member of BSIC, said the company also planned to support cottage-level startups.

"We will finance them, and if they succeed, we will work to turn them into corporations as well. That should be a way of journey," he said.

Separately, at the event, BSIC announced the appointment of Sami Ahmad, a global venture capital veteran, senior advisor at B Capital and previously a general partner at the firm, as an advisor to the BSIC board.

The government is moving ahead with a plan to bring the Bangladesh Investment Development Authority (Bida), Bangladesh Economic Zones Authority (Beza) and Bangladesh Export Processing Zones Authority (Bepza) under a single umbrella entity to streamline the investment ecosystem and improve coordination among investment-related institutions, Commerce Minister Khandakar Abdul Muktadir said yesterday (12 May).

"The government has undertaken a series of regulatory reforms aimed at reducing the cost of doing business, simplifying business entry and accelerating Bangladesh's transition towards a trillion-dollar economy," he said while disclosing the plan during a call-on meeting with a delegation from Business Initiative Leading Development (BUILD), according to a press release.

As part of the reforms, the government plans to introduce provisional licences valid for 12 months for six essential approvals, including fire service, DIFE and chamber memberships, allowing entrepreneurs to begin operations without delay, he said.

India today hiked import duties on gold and silver to 15% from 6% as part of measures to curb inbound shipments of precious metals amid a rising import bill due to the Middle East crisis.

The move came a couple of days after Prime Minister Narendra Modi's call for curbs on gold purchases for a year, along with other austerity measures to save foreign exchange.

The duty hikes will raise the overall customs duty on gold to 15%.

India, the second biggest gold importer after China, had in the 2024-25 budget cut customs duty on gold to 6% to boost the domestic gems and jewellery industry, curb smuggling and bring down local prices.

In 2022, India had increased gold import tax to 15% to check capital account deficit amid a falling rupee due to the Russia-Ukraine war that began in February that year.

India's imports of the yellow metal went up by over 24% to an all-time high of $71.98 billion in 2025-26. In volume terms, however, the shipments dipped 4.76% to 721.03 tonnes in 2025-26.

LafargeHolcim Bangladesh reported a net profit after tax of Tk112.2 crore for the first quarter ended 31 March 2026, down 19% from Tk139.1 crore in the corresponding quarter of the previous year.

LafargeHolcim Bangladesh reported a net profit after tax of Tk112.2 crore for the first quarter ended 31 March 2026, marking a 19% decline from the Tk139.1 crore recorded in the same period last year.

The multinational cement manufacturer said its bottom line came under pressure from rising energy costs and persistent inflation, driven largely by the broader macroeconomic fallout from the West Asia crisis, according to a company press release.

According to the company's financial disclosure, net sales during the January–March period stood at Tk803.8 crore, down 6% year-on-year from Tk851.5 crore in the first quarter of 2025.

Operating earnings before interest and taxes fell 31% to Tk123.3 crore, while earnings per share declined to Tk0.97 from Tk1.20 a year earlier.

Despite these headwinds, the company maintained a profit-after-tax margin of 14% through operational efficiency initiatives and strict cost-control measures.

Chief Executive Officer of LafargeHolcim Bangladesh Iqbal Chowdhury said despite persistent inflationary pressure, the company remains focused on resilience through innovation and operational excellence.

He added that specialised product lines, including Water Protect and Fair Face, continued to perform strongly, reinforcing the company's market leadership and consumer confidence.

Looking ahead, management acknowledged that the remainder of the year will remain challenging due to elevated inflation and energy costs. However, the company said it remains optimistic after implementing rigorous cost-efficiency measures and strategic pricing reviews.

The cement maker said it aims to sustain strong performance and preserve industry-leading margins by balancing innovation with operational efficiency as the economic environment gradually stabilises.

The company also began the year by diversifying its portfolio with the launch of Holcim Coastal Guard and Power Crete — specialised solutions designed for coastal environments and the ready-mix concrete segment. These new offerings are expected to contribute to performance growth in the coming quarters.

Meanwhile, the company's sustainability arm, Geo-cycle, co-processed around 12,000 tonnes of non-recyclable waste and achieved a 13% replacement of fossil fuels with alternative fuels, supporting both environmental sustainability and operational efficiency.

The country's premier bourse returned to a positive trajectory on Tuesday as the benchmark index snapped a five-day losing streak, supported by a significant surge in trading activity.

Market turnover at the Dhaka Stock Exchange (DSE) crossed the prestigious Tk1,000 crore mark for the first time in recent weeks, jumping by 54% to reach Tk1,101 crore.

While broad-based bargain hunting played a role in the recovery, the massive turnover was largely driven by a single heavyweight transaction in the block market, where shares of BRAC Bank worth Tk335 crore changed hands.

The benchmark DSEX index rose by 24 points to settle the session at 5,229. The blue-chip DS30 index followed a similar path, gaining 4 points to close at 1,989.

The day's trading reflected a shift in investor sentiment as opportunistic buyers moved in to accumulate fundamentally strong scrips that had become undervalued during the previous week's persistent decline, according to the market insiders.

Market breadth turned positive as well, with 188 issues advancing, 138 declining, and 67 remaining unchanged on the DSE floor.

According to the daily market review by EBL Securities, the capital bourse staged a modest recovery yesterday after five consecutive losing sessions. The market opened on a firm footing and maintained positive momentum throughout the day. Although the rebound offered some relief to the market's weakened sentiment, analysts said investors remain cautious amid concerns over potential policy developments and evolving geopolitical tensions in the Middle East.

The banking sector dominated the day's proceedings, accounting for a staggering 36% of the total turnover, primarily due to the high-value block trades. This was followed by the engineering sector with 11% and the pharmaceutical sector with 9.7% of the total trading volume.

In terms of returns, the jute sector led the gainers with a 2.5% increase, while services and information technology also posted gains of 1.6% and 1.2%, respectively.

On the other hand, the mutual fund sector faced the steepest correction of 2.2%, while the paper and tannery sectors also saw marginal declines.

Among individual performers, RD Food and Rahima Food topped the gainers' list, both surging by over 9.9%. Other notable gainers included Islami Commercial Insurance, Prime Textile, and VFS Thread.

Conversely, Meghna Pet emerged as the top loser, shedding 6.20% of its value, followed by Monno Ceramic and several mutual funds.

Monno Ceramic also featured prominently in the turnover chart alongside Dominage Steel, Acme Pesticide, Asiatic Laboratories, and NCC Bank.

The positive sentiment extended to the Chittagong Stock Exchange (CSE) as well, where the key indices settled in green territory. The selective categories' index (CSCX) gained 25 points, while the all share price index (CASPI) rose by 41 points.

BRAC Bank's second subordinated bond started trading on the Alternative Trading Board (ATB) platform of the Dhaka Stock Exchange (DSE) today (12 May), marking another step in the country's bond market expansion.

The "BRAC Bank 2nd Subordinated Bond" was listed following the signing of a listing agreement between the bank and DSE at the stock exchange's office in Dhaka today.

DSE Managing Director Nuzhat Anwar and BRAC Bank Managing Director and CEO Tareq Refayet Ullah attended the signing ceremony along with senior officials from both organisations.

Trading of the bond commenced under the "P" category on the ATB platform with the trading code "BBL2NDSB" and scrip code "55008".

BRAC EPL Investments Limited acted as the lead arranger of the bond, while UCB Investment Limited served as the trustee.

According to DSE data, the Tk700 crore bond carries a face value and minimum investment of Tk10 lakh per unit. The non-convertible, fully redeemable, unsecured subordinated bond offers a floating coupon rate of 12.59% per annum, payable semi-annually.

Issued on 11 March 2024, the bond currently has a remaining tenure of around four years and 10 months. Repayment will begin annually from the end of the third year from the issue date, specifically on 11 March each year. The DSE approved the listing on 20 April 2026.

The stock exchange has also imposed special circuit breaker rules for the initial trading sessions. A 4% circuit breaker will apply during the first two trading days. On the first day, the limit will be determined based on the present value calculated using at least a 10% annual discount rate, while the second day will use the reference price.

Trading will remain suspended on the third trading day before the regular 5% circuit breaker rule takes effect from the fourth trading day.

Market insiders said the bond would strengthen BRAC Bank's long-term capital base, as subordinated bonds are considered part of regulatory capital and help maintain the capital adequacy ratio required by regulators.

They added that the listing reflects growing interest among banks in raising long-term funds through the capital market instead of relying solely on deposits and conventional borrowing.

DSE's Alternative Trading Board was introduced to facilitate trading of bonds, sukuk, exchange-traded funds (ETFs), alternative investment funds and other non-equity securities, aiming to diversify investment products and support long-term financing in Bangladesh's capital market.

Analysts said the expansion of the corporate bond market through the ATB platform would create more fixed-income investment opportunities for investors and help deepen the country's capital market.

Bangladesh Bank (BB) has instructed banks to introduce QR-based digital verification systems for bank statements and other financial documents submitted by customers for overseas visa applications.

In a circular issued yesterday, the central bank said Bangladeshi citizens are often required to submit bank statements, solvency certificates, investment certificates, and similar documents to embassies or visa centres while applying for visas for different countries.

However, embassies and visa centres frequently face difficulties in instantly verifying the authenticity of these documents.

To reduce processing time and administrative costs and to make verification easier and more reliable, BB said such documents must be made digitally verifiable immediately.

Under the new directive, banks have been advised to follow several measures while issuing documents related to visa applications.

Banks must include a digitally verifiable QR code in bank statements, solvency certificates, investment certificates, and similar documents requested by customers for visa purposes.

By scanning the QR code, embassies or visa centres should be able to verify at least the following information related to the customer: bank statement, account number, account name, opening balance on the statement date, closing balance on the statement date, and statement generation date.

BB also instructed banks to ensure that the information remains stored and digitally verifiable for at least six months.

Banks have been given 90 days from the date of the circular to prepare and implement the required systems.

The central bank further said banks must ensure compliance with existing cybersecurity and data protection regulations while introducing the new verification mechanism.

The instruction was issued under Section 45 of the Bank Company Act, 1991, and came into effect immediately.