Gold prices ticked down on Wednesday, as investors weighed the ‌risk of a more hawkish US Federal Reserve policy stance, with high oil prices increasing concerns over renewed inflation pressures.

Spot gold fell 0.4 percent at $4,986.79 per ounce as of 0915 GMT. US ​gold futures for April delivery fell 0.3 percent to $4,990.70.

“Investors are worried about rates ​staying ‘higher-for-longer’ due to elevated energy prices ... the longer the Iran conflict goes on, the more likely that scenario,” making non-yielding gold less attractive, ​said Jamie Dutta, market analyst at Nemo.money.

The Middle East conflict is in its ​third week, as Iran targeted Tel Aviv with missiles in what it said was retaliation for Israel’s assassination of Iran’s security chief Ali Larijani, Iranian state television reported on Wednesday.

Brent crude oil ​prices eased slightly, but held above $100 per barrel, as escalation in the Iran conflict ​and the ongoing closure of the Strait of Hormuz offset some relief to supply concerns.

Elevated oil prices ‌add to inflationary pressures by pushing up transport costs. While gold is viewed as a hedge against inflation and uncertainty, high interest rates curb its appeal by raising the cost of holding bullion and boosting returns on yield-bearing assets.

The Fed is widely ​expected to hold ​rates steady for ⁠a second straight meeting when it announces its policy decision later in the day.

Investors are also awaiting remarks from Fed chair Jerome ​Powell to assess the central bank’s policy view for the ​rest of ⁠2026, with futures markets seeing only one quarter-percentage-point rate cut this year, in September, and another cut in late 2027.

“Long-term drivers like central bank buying, stagflation risks and ⁠diversification ​demand still remain. That should mean higher (gold) prices ​by end of 2026,” Dutta added.

The US Treasury on Friday temporarily lifted sanctions on Iranian oil already loaded onto vessels, in Washington's latest step to stem a supply crisis over the Middle East war.

The authorization allows for the delivery and sale of Iranian crude oil and other petroleum products loaded onto ships before March 20, and will last through April 19, the Treasury said in a statement.

The move by the Office of Foreign Assets Control, which Treasury Secretary Scott Bessent had said Thursday was under consideration, follows a similar lifting of sanctions on Russian oil at sea.

Iran's de facto blockade of the Strait of Hormuz, through which 20 percent of the world's oil and gas normally flows, and the numerous attacks on energy infrastructure in the Middle East, have sent crude oil prices soaring.

Bessent described the move in a statement Friday as a narrowly tailored, short-term authorization that follows President Donald Trump's intention to "maximize the flow of energy to the world" and ensure market stability.

"At present, sanctioned Iranian oil is being hoarded by China on the cheap," Bessent said in a statement.

"By temporarily unlocking this existing supply for the world, the United States will quickly bring approximately 140 million barrels of oil to global markets, expanding the amount of worldwide energy and helping to relieve the temporary pressures on supply caused by Iran."

Tehran, however, said Friday it had no surplus crude oil to offer to international markets.

"Currently, Iran basically has no surplus crude oil left on the water or for supply in other international markets, and the US treasury secretary's statement is solely aimed at giving hope to buyers," Iranian oil ministry spokesman Saman Ghoddoosi wrote on X.

The Treasury's authorization on Friday does not apply to deliveries of oil to Cuba, North Korea or Russian-occupied areas of Ukraine.

Oil markets ended higher Friday, although they remained below the $120-per-barrel threshold which has been approached multiple times since the conflict began three weeks ago.

A barrel of North Sea Brent crude gained 3.26 percent to $112.19. Its US counterpart, the traditionally cheaper West Texas Intermediate (WTI), rose 2.27 percent to $98.32.

Oil prices fell by 7% today (23 March) after US President Donald Trump said he would postpone any military strikes against Iranian power plants for five days after constructive talks, hours ahead of a deadline that threatened further escalation in the conflict now in its fourth week.

Brent crude futures were down 9.72% at $101.28 a barrel at 1254 GMT after sliding as much as 14.5% to a session low of $96. US West Texas Intermediate was down almost 8.9% at $89.49 after losing 14.2% to a session low of $84.37.

Prices gradually pared some losses after the steep initial slide after Iran's Tasnim ⁠news agency reported that no talks were under way between the US and Iran.

The US President had warned on Saturday that Iranian power plants would be destroyed if Tehran failed to "fully open" the Strait of Hormuz to all shipping within 48 hours, setting a deadline of around 7:44 p.m. EDT (2344 GMT) on Monday.

His comments sparked threats of retaliation from Iran's Revolutionary Guards, which said they would attack Israel's power plants and those supplying US bases across the Gulf region if Trump followed through with his threat to "obliterate" Iran's power network.

The war has damaged major energy facilities in the Gulf and nearly halted shipping through the Strait of Hormuz, which handles about 20% of global oil and liquefied natural gas flows.

Analysts have estimated a loss of 7 million to 10 million barrels per day of Middle East oil production.

The crisis in the Middle East is worse than ‌the two ⁠oil shocks of the 1970s put together, Fatih Birol, executive director of the International Energy Agency, said on Monday.

"Oil sentiment may lurch on threats and rhetoric in the near term, but its more durable direction will continue to be shaped by the state of Middle East oil flows," said Vandana Hari, founder of oil market analysis provider Vanda Insights.

Iraq has declared force majeure on all oilfields developed by foreign oil companies, three energy officials said, while oil production at ⁠Basra Oil Company has been cut to 900,000 bpd from 3.3 million bpd, Iraqi Oil Minister Hayan Abdel-Ghani said in a ministry statement.

The supply crunch has led to a temporary waiving of US sanctions on Russian and Iranian oil already at sea. Indian refiners plan to resume buying Iranian oil while refiners elsewhere in ⁠Asia are examining such a move, traders told Reuters.

Meanwhile, Russia's Baltic Sea port of Ust-Luga resumed oil loadings after a drone attack alert was lifted, industry sources said, while neighbouring Primorsk remained shut after air strikes, adding to global shortages.

Libya's El Feel oilfield has been in shutdown since ⁠Thursday after state oil company National Oil Corporation (NOC) used its pipeline to transport crude from the Sharara field after its pipeline was damaged by fire, two El Feel engineers said.

Production is expected to resume in a week to 10 days, one of the engineers said.

The war in the Middle East could see the world face its worst energy crisis in decades, International Energy Agency chief Fatih Birol warned on Monday (23 March), describing the situation as "very severe".

"Many of us remember the two consecutive oil crises in the 1970s... at that time, in each of the crises, the world has lost about five million barrels per day, both of them together, 10 million barrels per day," Birol told the National Press Club in Australia's capital.

"As of today, we lost 11 million barrels per day, so more than two major oil shocks put together," he said.

The Bangladesh Securities and Exchange Commission (BSEC) has launched investigations into four capital market intermediaries over allegations of serious irregularities, in a move aimed at protecting investors and ensuring market stability.

Through separate orders, the regulator has initiated formal enquiries into NRBC Bank Securities Limited, Premier Leasing Securities Limited, Green Delta Securities Limited, and LankaBangla Investments Limited, operating as a merchant bank.

Four enquiry committees were formed on 11 March to conduct the investigations.

BSEC director and spokesperson Abul Kalam told TBS that the Commission had identified multiple inconsistencies in the operations of these firms, particularly relating to negative equity, margin lending practices, financial reporting, and corporate governance.

He said such irregularities could increase market risks and harm general investors, prompting the regulator to take action. The Commission will take legal measures after reviewing the enquiry findings, he added.

Separate officials have been assigned to each investigation. The probe into NRBC Bank Securities will be led by Deputy Director Md Rafiqunnabi and Assistant Director Muhammad Sadequr Rahman Bhuiyan.

Additional Director Md Ohidul Islam and Assistant Director Md Maruf Hassan will investigate Premier Leasing Securities, while Additional Director (Legal) Muhammad Ziaur Rahman and Assistant Director Amit Kumar Saha will examine LankaBangla Investments.

Additional Director Umme Salma and Assistant Director Md Motiur Rahman have been tasked with investigating Green Delta Securities.

The commission has directed that all enquiry reports be submitted within 60 working days.

The allegations

One of the key focus areas of the investigations is whether any of the firms declared or facilitated cash dividends despite having negative equity or unrealised losses.

Under market rules, such actions may mislead investors and conceal a company's true financial condition.

In particular, NRBC Bank Securities and LankaBangla Investments will be examined to determine whether they made or supported such dividend decisions.

The BSEC has also raised concerns that some firms may have misreported or concealed negative equity data in regulatory filings. In the case of NRBC Bank Securities, allegations of systematic misreporting and data manipulation are under scrutiny.

Premier Leasing Securities is accused of classifying receivables from clients as assets without maintaining adequate provisioning, potentially understating financial risks in its disclosures.

A common allegation against all four firms is the failure to maintain sufficient provisions against negative equity and unrealised losses within prescribed timelines, raising concerns over their financial stability.

In the case of Green Delta Securities, the Commission will closely examine the methodology used in calculating negative equity. Issues include capitalising prior-year interest into principal, mismatches between principal and interest figures, and the absence of necessary provisions.

Wafi Shafique Menhaz Khan, CEO of Green Delta Securities, said the matter is a routine issue from the regulator.

"We have received the letter and are cooperating with the Bangladesh Securities and Exchange Commission in the investigation," he told The Business Standard. "The violations identified by the Commission regarding negative equity are very minor in nature. The Commission has also conducted a similar enquiry earlier," he added.

The investigations will also examine margin lending practices across the firms, including whether loans exceeded permissible exposure limits and whether margin discipline was bypassed.

There are allegations that cash accounts were converted into margin or negative equity accounts without proper authorisation. In some cases, margin accounts may have been opened without client consent or formal agreements.

The BSEC has further alleged that certain firms conducted transactions involving highly speculative shares through negative equity accounts, as well as illegal block and bulk transactions in violation of regulatory rules.

Such activities – particularly in NRBC Bank Securities and Premier Leasing Securities – will be examined to determine whether they were used to create artificial demand or manipulate share prices.

In LankaBangla's case, it faces additional scrutiny over specific financial reporting issues, including the use of "interest suspense" accounting and whether such figures were properly reflected in its financial statements.

The firm is also accused of failing to recognise around Tk109.73 crore in interest payable to LankaBangla Finance Limited, which may have led to an overstatement of profits and retained earnings.

Iftekhar Alam, CEO of LankaBangla Investments, did not respond to phone calls and messages regarding the matter.

Another key aspect of the investigations will be to assess the role and intent of senior management, including chief executives, managing directors, and board members, in relation to the alleged irregularities.

According to the BSEC, weaknesses in corporate governance may have allowed such practices to persist.

Market insiders said the investigations could play an important role in restoring discipline in the capital market, where concerns over negative equity, margin lending practices, and weak enforcement have persisted.

The move is widely seen as a strong signal from the regulator against non-compliance and governance failures in the market.

Mamun Agro Industries, currently listed on the SME platform on the Dhaka Stock Exchange, has formally sought enlistment on the main board of the bourse, citing compliance with regulatory criteria, including paid-up capital exceeding Tk50 crore and more than three years of trading history.

Confirming the development, Company Secretary Muhammad Imdadul Haque told TBS that the firm had completed all necessary requirements before submitting its application to the bourse recently.

The company's move follows an earlier decision by its management and board in April last year to pursue an upgrade. Subsequently, shareholders approved the plan at an extraordinary general meeting held in mid-June, in line with regulatory provisions.

A DSE official said the exchange would now review the company's application and supporting documents, adding that a final decision on the transfer to the main board would be taken by its board upon completion of the evaluation.

Under the Qualified Investor Offer rules for small-cap firms, companies must apply for main board listing once their paid-up capital reaches at least Tk50 crore and they have been listed on the SME platform for a minimum of three years. Mamun Agro meets these conditions, with its paid-up capital standing at Tk52.50 crore against an authorised capital of Tk100 crore.

Operating in the pharmaceutical and chemical segment, the company manufactures and imports agro-products, including insecticides, fungicides, herbicides, fertilisers, pesticides and seeds for the domestic market. It raised Tk10 crore from the capital market before its SME listing in 2022.

According to its latest financial report up to June 2025, the company's total assets stood at Tk111.17 crore, largely comprising current assets such as trade receivables of Tk28 crore, inventories and advances. Non-current assets amounted to Tk38 crore, including Tk36 crore in property, plant and equipment.

Its current liabilities totalled Tk25.57 crore, of which Tk16.96 crore were short-term loans.

In the 2024-25 fiscal year, Mamun Agro reported a modest rise in revenue to Tk57.35 crore and a profit of Tk6.05 crore. Revenue from seeds increased to Tk26.69 crore from Tk25.04 crore a year earlier, while pesticide sales declined to Tk30.65 crore from Tk31.88 crore.

The company's board recommended a 10% dividend for general shareholders – comprising 5% cash and 5% stock – alongside a 5% bonus share for sponsor-directors for FY25. However, the stock dividend remains subject to approval from the Bangladesh Securities and Exchange Commission.

The company was supposed to pay Tk1.75 crore as a dividend to its general shareholders.

The BSEC allowed the issuance of the stock dividend, but due to the non-holding of the annual general meeting, the dividend has yet to be disbursed.

Firstly, it declared AGM for 31 December last year, later, it fixed AGM for 25 February.

On 25 February, through a disclosure, it postponed the AGM as it had not received permission yet from the High Court for non-compliance of Companies Act, 1994.

The firm said it is in the process of obtaining the necessary court approval and will announce a revised AGM date once clearance is received.

Remittance inflows to Bangladesh reached $2.2 billion in the first two weeks of March 2026, according to data from Bangladesh Bank.

The total includes inflows through state-owned, specialised, private and foreign commercial banks.

State-owned commercial banks brought in $372.49 million, with Agrani Bank leading the group at $164.52 million. Janata Bank followed with $129.92 million, while Sonali Bank contributed $63.08 million.

Specialised banks received $272.88 million, entirely through Bangladesh Krishi Bank.

Private commercial banks accounted for the largest share, bringing in $1.55 billion. Islami Bank Bangladesh topped the list with $395.29 million, followed by BRAC Bank with $228.24 million and Trust Bank with $162.53 million.

Foreign commercial banks contributed the least, with a total of $4.54 million. Standard Chartered Bank led this category, bringing in $3.37 million.

The UN Committee for Development Policy (UN CDP) is preparing a "crisis assessment" report, evaluating Bangladesh's request to delay graduation from the Least Developed Country category by three years, which is expected to be released within March, according to officials from the Economic Relations Division (ERD).

The officials said the committee will examine whether Bangladesh is facing an actual economic or structural crisis. If the CDP finds evidence of such a crisis, it may recommend extending the country's LDC graduation by three years. The recommendation would then be forwarded to the UN Economic and Social Council for consideration.

Proposals of this nature are usually approved through consensus within the economic council. However, if any member state vetoes, the matter could be put to a vote. Officials in the economic relations said the government has already asked the foreign ministry to begin diplomatic outreach and lobbying efforts to secure support from UN member states for the proposed delay.

A CDP delegation may visit Bangladesh in April and they are expected to present the findings of a readiness study conducted earlier at Bangladesh's request. However, officials said the visit will not directly influence the final decision, as the crisis assessment report will be the main factor.

The final decision could come in September during the UN General Assembly session. If the proposal is approved at that stage, Bangladesh will get three more years before formally graduating from the LDC.

For now, policymakers keep an eye on the upcoming assessment report, as its recommendations will determine the next steps.

However, a high-level meeting of the government on LDCs is scheduled to be held on 5 April, with the finance minister in the chair, where the "Crisis Assessment" report will be evaluated.

Under the current schedule, Bangladesh is set to graduate from the LDC group on 24 November this year. The third and final review process ahead of graduation is already underway.

Soon after taking power, on 18 February, the government sent a letter to CDP Chair José Antonio Ocampo seeking a three-year deferral of the graduation until November 24, 2029.

In the letter, Bangladesh noted that although it continues to meet the three graduation criteria – gross national income per capita, the Human Assets Index, and the Economic and Environmental Vulnerability Index — the five-year preparatory period has been severely disrupted by a series of global and domestic shocks.

The government cited the lingering impacts of the COVID-19 pandemic, the Russia-Ukraine war, tensions in the Middle East, tight global financial conditions, and the slow recovery of international trade.

On the domestic front, it highlighted irregularities in the financial sector, the change in government following the July 2024 uprising, and the ongoing pressure of hosting displaced Myanmar nationals.

According to the letter, these shocks have led to macroeconomic instability, slower GDP growth, high inflation, and a decline in both public and private investment. It also pointed to mounting pressure on foreign exchange reserves, reduced imports of capital machinery and raw materials, and slower job creation due to weakened investment.

Against this backdrop, the government said its policy focus had shifted toward short-term stabilisation and crisis management, preventing effective utilisation of the preparatory period.

The letter also raised concerns about post-graduation trade risks, including the potential loss of preferential market access for ready-made garment exports to the European Union and the risk of possible countervailing duties from the United States.

Considering the crisis, Bangladesh has requested a three-year extension to stabilise the economy and complete priority actions under its Smooth Transition Strategy.

Officials added that beyond the issues mentioned in the letter, the ongoing conflict across the Middle East could pose additional risks for Bangladesh. Rising military tensions involving the United States, Israel, and Iran have heightened instability in the region.

A prolonged conflict could fuel inflation and disrupt macroeconomic stability, further strengthening the case for deferring LDC graduation by three years.

Stakeholders warn that extended tensions among the US, Israel, and Iran could exert multidimensional pressure on Bangladesh's economy. There are concerns over rising energy import costs, given the country's heavy reliance on oil and gas imports from the Middle East. Escalating conflict could drive up global energy prices, increasing electricity generation and transportation costs.

Additionally, a large number of Bangladeshi workers are employed in countries such as Saudi Arabia, Qatar, Oman, and the United Arab Emirates. Heightened regional instability could shrink labour markets and create income uncertainty.

There are also fears of increased transportation costs for exports. Rising tensions in the Red Sea or the Strait of Hormuz could push up marine insurance and shipping costs, affecting key export sectors, including ready-made garments. Higher energy and import costs would also increase demand for US dollars, putting further pressure on foreign exchange reserves, experts say.

The Cabinet today (17 March) approved Bangladesh's proposal to join the 'Investment Facilitation for Development Agreement (IFDA)' under the plurilateral Joint Statement Initiative of the World Trade Organization (WTO).

The decision was made at a Cabinet meeting held at the Secretariat, chaired by Prime Minister Tarique Rahman.

Cabinet Secretary Nasimul Ghani told reporters that the agreement aims to facilitate foreign direct investment (FDI) in Bangladesh.

He said the pact does not impose any new obligations regarding market access or investor-state dispute settlement. Instead, it seeks to enhance transparency in investment procedures, simplify registration and approvals, reduce unnecessary multiple applications, and maintain a database of domestic investors.

The government expects that joining the agreement will further boost Bangladesh's international reputation as an attractive destination for foreign investment.

Bangladesh’s energy security is under fresh pressure as war in the Middle East disrupts the flow of liquefied natural gas (LNG), a fuel that has become indispensable to the country’s power sector.

In an effort to maintain supply, the government has confirmed the purchase of seven LNG cargoes from the spot market since the outbreak of the US-Israel war on Iran, at prices more than double those paid just months ago.

Since March 4, state-run Rupantarita Prakritik Gas Co Ltd (RPGCL) has floated three tenders to buy LNG cargoes from the spot market amid ongoing uncertainty over timely shipments from Qatar, as Iran continues to halt nearly all shipping through the Strait of Hormuz.

Qatar is a long-term LNG supplier to Bangladesh. It ships a significant proportion of its exports through the Strait, which accounts for roughly a fifth of global LNG flows.

Bangladesh meets almost 30 percent of its gas demand through imported LNG, while domestic production continues to fall short of the total requirement of about 2,650 million cubic feet per day (mmcfd), according to the energy ministry.

A senior RPGCL official said the country usually receives eight to nine LNG cargoes each month, with five to six passing through the Strait of Hormuz.

The US-Israel war on Iran has disrupted supplies of oil, LNG, fertiliser and sulphur through the shipping channel, driving up prices and sparking a global scramble for energy and crop nutrients.

LNG prices have almost doubled from pre-war levels of around $10-$12 per MMBtu.

On March 2, QatarEnergy suspended LNG production following an Iranian drone attack, placing additional strain on the global market. Qatar supplies around 20 percent of the world’s LNG, according to Al Jazeera.

On March 17, the cabinet committee on government purchase approved the acquisition of two spot LNG cargoes from Aramco Trading Singapore.

The first cargo will cost $20.96 per MMBtu, and the second $20.92 per MMBtu. Shipments are expected to arrive between April 15 and 22.

Last week, the government decided to purchase three more cargoes from South Korean and UK-based companies, at more than double December prices.

These shipments are expected between April 5 and 13. UK-based TotalEnergies Gas & Power Ltd will supply one cargo at $21.58 per MMBtu, while South Korea-based Posco International Corporation will provide two cargoes at $20.76 per MMBtu.

Earlier, state-run Petrobangla secured two emergency LNG cargoes for March deliveries at nearly three times December prices. One cargo was purchased from US-based Gunvor at $28.28 per MMBtu, while a second from Vitol cost $23.08 per MMBtu.

By comparison, LNG purchased in December cost just $9.99 per MMBtu.

Bangladesh’s power sector has transformed rapidly over the past decade. Domestic gas production, long the backbone of electricity generation, has stagnated as major gas fields mature.

To bridge the supply gap, the government began importing LNG in 2018 via floating storage and regasification units (FSRUs) at Moheshkhali. Since then, LNG has become a structurally vital component of the energy mix.

In 2025, Bangladesh spent roughly $3.88 billion to import 109 LNG cargoes, compared with $3.02 billion for 86 cargoes in 2024, reflecting rising demand and higher prices, according to data from Dhaka-based management consulting firm LightCastle Partners.

Qatar remains the country’s dominant supplier. In 2025, QatarEnergy received around $1.2 billion, the largest single supplier payment, for delivering 40 contracted cargoes.

Oman’s OQ Trading supplied a further 16 under long-term agreements, while the remaining 48 cargoes were bought from the spot market, according to LightCastle data.

Because Qatar’s LNG exports originate in the Persian Gulf, most shipments to Bangladesh must transit the Strait of Hormuz.

As a result, the country’s energy supply chain remains structurally vulnerable to disruptions in Gulf shipping routes.

Bangladesh is seeking billions in external financing to secure fuel and liquefied natural gas imports, as the new government led by Prime Minister Tarique Rahman moves to stabilise the economy amid a worsening global energy outlook due to the Iran war.

The nation of 175 million relies on imports for about 95% of its energy needs, and state-run agencies have increasingly turned to the volatile market to plug the gap. The government has been rationing fuel, though the restrictions were eased for the Eid al-Fitr festival.

Rashed Al Mahmud Titumir, the prime minister's adviser on finance and planning, said on Friday that Dhaka was in talks with major development lenders — including the Asian Development Bank, the World Bank, the International Islamic Trade Finance Corporation and Asian Infrastructure Investment Bank — to mobilise fresh funding.

"There are positive indications that we'll receive funds from the multilateral agencies to support oil and energy, which will help accelerate economic growth," Titumir told Reuters.

He said he expected about $1.3 billion from the International Monetary Fund under an existing programme, along with an additional $250 million to $500 million on top of roughly $500 million in budgetary support from the ADB.

"An IMF team is visiting... they were waiting for an elected government. We will request them to release the funds now, instead of July, so we receive them within the current fiscal year," he said.

The urgency has grown amid an escalating conflict in the Middle East that has roiled global energy markets, pushed up prices and increased concerns about supply routes.

"Our financing flow for oil and energy must not be disrupted under any circumstances," Titumir said. "We will ensure financing is available and diversify our sources of oil and energy."

He said Bangladesh was exploring procuring additional supply from the United States, Southeast Asia, Nigeria and producers in the Middle East, to avoid over‑reliance on a single source.

Despite rising global prices, Dhaka does not plan to pass the burden on to consumers, he said.

"We are not increasing fuel prices. We will provide the necessary financing so there is no contraction in the economy," Titumir said, stressing that the government aims to rely on multilateral support rather than private‑sector borrowing.

Bangladesh adjusts government‑set fuel prices each month, based on a global pricing formula.

Prime Bank FinTech Limited, a subsidiary of Prime Bank PLC., has been awarded a license to operate Mobile Financial Services (MFS) in the country.

This enables Prime Bank FinTech Ltd. to formally launch its own brand of MFS services in Bangladesh.

With this regulatory approval, Prime Bank FinTech Limited is set to reshape the country's digital financial ecosystem by addressing the vast untapped spaces. The goal is to move beyond traditional competition and foster a collaborative market environment that prioritises financial literacy and inclusive growth. By acting as a digital guardian for users, this will aim to bridge the gap for the unbanked and empower every individual to navigate the cashless economy with confidence and security.

Prime Bank FinTech Limited will operate its Mobile Financial Services under a dedicated brand identity. The brand will work closely with regulators, partners and stakeholders to ensure compliance, operational excellence and a seamless customer experience as it prepares for its formal launch.

Remittance inflows rose sharply in the first two weeks of March ahead of the Eid-ul-Fitr, despite tensions in the Middle East stemming from the US-Israel war on Iran.

Expatriates sent home $2.2 billion in the first 14 days of March, up 36 percent from $1.62 billion during the same period last year, according to Bangladesh Bank (BB) data.

Bankers expect remittances to exceed $3 billion by the end of the month, as expatriates typically send more money home during Eid. Full data for the month will be available after the Eid holidays.

In February, remittances stood at $3.02 billion.

In the current fiscal year, inflows have remained strong.

Between July and March 14, remittances reached $24.65 billion, marking a 22.6 percent year-on-year growth.

However, industry insiders and economists warn that inflows may slow in the coming months due to the Middle East crisis.

A BB quarterly report also projected a possible slowdown in remittances amid migration disruptions and economic uncertainty in the region.

The escalating tensions in the Gulf have already driven up prices of oil, liquefied natural gas, fertiliser and sulphur, as Iran controls the Strait of Hormuz, a key route for about one-fifth of global oil exports and nearly one-third of fertiliser shipments.

During March 1-14, Islami Bank Bangladesh handled the highest inflow at $395 million, followed by BRAC Bank with $228 million, state-run Agrani Bank with $165 million, and Trust Bank with $163 million.

The steady rise in remittances is helping ease pressure on the balance of payments and stabilise the foreign exchange market.

Under the International Monetary Fund’s calculation method, reserves were $29.64 billion, up from $19.74 billion in the same period last year.

However, signs of volatility have emerged in the foreign exchange market after more than a year, with the taka weakening against the US dollar since early March amid rising uncertainty over the war in the Middle East.

In just two months, shares of Bangladesh Industrial Finance Company (BIFC), a non-bank financial institution (NBFI), skyrocketed by over 600%, according to data from the Dhaka Stock Exchange.

Starting from Tk0.9 on 14 January, its share price rose to Tk6.6 on 17 March – the last trading day before the Eid vacation – marking a surge of 633%.

Following the recent surge, BIFC's share price has returned to the level seen nine months ago. Earlier, in mid-last year, the stock was traded in the Tk6-7 range, the data showed.

With a view to reviving the weak and scam-hit NBFIs, the Bangladesh Bank has planned to liquidate nine NBFIs to protect the depositors' interest.

With the initial discussion begun in mid-2025, the weak NBFIs stocks saw continuous sell-offs amid growing investor fears.

That is why the price of BIFC's shares saw a sharp fall amid heavy sell-offs, putting its shares below Tk1 each, the first time in the history of the capital market.

It eventually fell to as low as Tk0.9. Later, after the central bank decided to allow the institution three months to improve its financial condition, the price began to rise.

The stock then recorded gains for nearly 22 consecutive trading days, climbing from Tk0.9 to Tk3.9 each.

After a one-day correction, the share price resumed its upward trend. In the second phase of the rally, it rose to Tk7.2.

Subsequently, the stock corrected again, dropping to Tk5.9. It then rebounded to Tk7.2 before closing at Tk6.6 on 17 March.

Auditor opinion

The auditor of BIFC said it has been experiencing losses for several years, accumulating a total loss of Tk1,425.45 crore as of December 2024.

As of the same date, its total liabilities exceeded its total assets by Tk1,269.68 crore.

These conditions or events indicate that a material uncertainty exists on the company's ability to continue its operation in the foreseeable future unless arrangements are made to increase capital or to improve liquidity position by means of facilitating equity support/long-term loan, the auditor said.

The auditor also said it should maintain a cash reserve ratio at a rate of 1.5% on term or fixed deposits (except from banks and financial institutions), but it could not maintain such provision, noncomplying with the above regulation.

Bangladesh Bank Governor Md Mostaqur Rahman has invited the World Bank to expand its engagement in supporting Bangladesh's financial sector development and broader economic growth.

The call came during a meeting with a high-level World Bank delegation at the central bank's head office on Sunday (15 March).

The delegation was led by John Zutt, regional vice president of the World Bank, and included Jean Pesme, division director for Bangladesh and Bhutan; Imad Najib Ayed Fakhoury, director at the International Finance Corporation; Gayle H Martin, operations manager for Bangladesh and Bhutan; Wilfred Tamegon, manager at the International Finance Corporation; and Mehrin A Mahbub, senior external affairs officer.

Deputy governors Md Habibur Rahman and Md Kabir Ahmed, along with other senior officials of Bangladesh Bank, were also present at the meeting.

During the meeting, both sides discussed ongoing projects supported by the World Bank in Bangladesh and explored opportunities to strengthen future cooperation, particularly in the financial sector.

Governor Mostaqur Rahman reaffirmed the central bank's commitment to ensuring the successful implementation of the projects. He also appreciated the World Bank's continued support for Bangladesh's development initiatives.

The World Bank delegation expressed strong interest in maintaining close cooperation with Bangladesh and highlighted the importance of a constructive partnership in supporting the country's development priorities.

The meeting also included discussions on Bangladesh's overall economic outlook and future development prospects.

Remittance inflows have increased by 35.7% in the first half of March, ahead of Eid, with expatriate Bangladeshis sending $2.20 billion in the first 14 days of the month.

During the same period in 2025, remittances stood at $1.62 billion, confirmed the central bank's spokesperson and Executive Director Arief Hossain Khan today (15 March).

A senior official of a private bank told The Business Standard that the rise in remittances is mainly due to the upcoming Eid festival, as expatriates typically send more money home during this period.

However, he noted that the flow may slow down after Eid, which is a usual trend.

He also warned that the ongoing Iran-Israel conflict could affect remittance inflows from the Middle East after Eid. If migrant workers in the region face disruptions in their jobs due to the conflict, remittance sent through banking channels may decline.

A deputy managing director of another private bank said expatriates were receiving between Tk121.70 and Tk121.75 per dollar today, while LC settlements were made at Tk121.20 per dollar.

The Middle East conflict escalated on 28 February this year when Israel and the United States jointly attacked Iran. In response, Iran has launched a series of missile strikes targeting Israel and countries in the Arab region that host US military bases.

Iran has also restricted vessel movements through the Strait of Hormuz without its approval, contributing to a rise in global fuel prices.

Meanwhile, economists recently held a meeting with newly appointed Bangladesh Bank governor last week. According to sources at the meeting, the central bank signalled that it would try to maintain foreign exchange reserves.

This has created a market signal that prompted banks to buy remittance dollars at higher rates.

A senior official of a private bank said that if new investments increase in the coming months, demand for opening letters of credit (LCs) will rise, which would in turn push up demand for dollars in the banking sector. As a result, banks are currently purchasing remittance dollars at higher rates.

Oil prices could extend gains at Monday's open as the US-Israeli war against Iran entered a third week, putting oil infrastructure at risk and keeping the Strait of Hormuz shut in the world's largest supply disruption.

US President Donald Trump threatened further ​strikes on Iran's Kharg Island oil export hub, drawing a defiant response of further retaliation ​from Tehran.

Brent and US West Texas Intermediate crude futures have already spiked sharply and ⁠rattled global financial markets. Both contracts have surged more than 40% so far this month to their ​highest levels since 2022 after the US-Israeli attacks on Iran prompted Tehran to halt shipping through the Strait ​of Hormuz - a key chokepoint for a fifth of global oil supply.

Trump has urged China, France, Japan, South Korea, Britain and others to deploy warships to secure the strategic gateway.

The United States struck military targets on Kharg Island on Saturday, which was swiftly ​followed by Iranian drone attacks on a key oil terminal in the United Arab Emirates.

"This marks an escalation ​in the conflict," JP Morgan analysts led by Natasha Kaneva said.

"Until now, the region's oil infrastructure has largely been spared."

Besides ‌UAE's ⁠Fujairah, Saudi Arabia's Ras Tanura export terminal and Abqaiq oil processing facilities have been listed as critical and highly vulnerable energy nodes in the Gulf, the analysts said.

However, oil loading operations at Fujairah have resumed, a Fujairah-based industry source told Reuters on Sunday.

Fujairah, outside the Strait of Hormuz, is the outlet for about 1 ​million barrels per day ​of the UAE's flagship ⁠Murban crude oil - a volume equal to about 1% of world demand.

Global oil supply is expected to fall by 8 million bpd in March due to disruptions ​to shipping while Middle Eastern producers have cut output by at least ​10 million bpd, ⁠according to the International Energy Agency.

Last week, the IEA agreed to release a record 400 million barrels of oil from strategic stockpiles held by member nations to combat price spikes. Japan plans to start releasing its oil on ⁠Monday.

Meanwhile, the ​Trump administration has rebuffed efforts by Middle Eastern allies to start ​diplomatic negotiations, according to three sources familiar with the efforts, while Iran has rejected the possibility of any ceasefire until U.S. and ​Israeli strikes end, dimming hopes of a quick end to the conflict.

Oil loading operations ‌at the United Arab Emirates' Fujairah emirate, a major bunkering hub ​and crude export terminal, have ​resumed following a drone attack ⁠and fire on Saturday, ​a Fujairah-based industry source told Reuters.

Fujairah, ​outside the Strait of Hormuz, is the outlet for about 1 million barrels ​per day of the ​UAE's Murban crude oil - a volume equal ‌to ⁠about 1% of world demand.

Abu Dhabi state oil giant ADNOC, which operates in the emirate, ​did ​not immediately ⁠respond to a request for comment.

Bloomberg News ​earlier reported the resumption ​of ⁠oil loading operations in the emirate.

The proposed merger between listed electronics manufacturer Walton Hi-Tech Industries and non-listed technology company Walton Digi-Tech Industries has moved a step closer after the securities regulator issued a formal clearance.

According to a disclosure made today (15 March), the Bangladesh Securities and Exchange Commission issued a No Objection Certificate regarding the merger.

Under the proposed scheme, Walton Hi-Tech Industries will act as the acquiring company, while Walton Digi-Tech Industries will be the acquiree. The merger will become effective after receiving approval from the High Court Division of the Supreme Court, along with consent from creditors, general shareholders, and other relevant regulatory authorities.

The merger is aimed at expanding business operations, reducing operational costs, improving efficiency, and strengthening Walton's competitive position in the technology and electronics sector.

For this purpose, a Memorandum of Understanding was signed between the two Walton Group companies on 3 September 2025. On the same day, Walton Hi-Tech's 46th board meeting approved the memorandum.

On the Dhaka Stock Exchange, Walton Hi-Tech's share price closed at Tk385.40 yesterday, reflecting a marginal decline of 0.46%.

According to the company, the merger will add a wide range of high-tech products to Walton Hi-Tech's portfolio, including laptops, desktop computers, mobile phones, printed circuit boards, and electric bikes.

This integration is expected to significantly enhance the company's operational capacity, broaden its market reach, and lower operational costs. Industry insiders say the move could also strengthen Bangladesh's electronics manufacturing ecosystem and help position the country as a hub for high-tech and digital product manufacturing.

Currently, Walton Digi-Tech produces and markets 123 types of high-tech products and accessories, including laptops, desktop computers, printers, mobile phones, printed circuit boards, and electric bikes. It is the only company in Bangladesh with manufacturing facilities for both mobile phones and printed circuit boards

Stocks at the Dhaka bourse fell today (15 March), ending a four-session rally as cautious investors returned to the sidelines amid persistent uncertainty over the ongoing Middle East conflict.

The benchmark DSEX index of the Dhaka Stock Exchange (DSE) dropped 49 points, or 0.91%, to close at 5,319, while the blue-chip DS30 index lost 23 points, or 1.11%, settling at 2,043.

Market breadth remained sharply negative, with 246 issues declining, 99 advancing, and 45 unchanged.

Trading activity also slowed, with daily turnover falling 11% to Tk523 crore, reflecting a cautious stance among investors preferring to observe market developments rather than take fresh positions.

According to EBL Securities, the benchmark retreated after a brief recovery streak as investor sentiment weakened amid lingering global uncertainties.

"Investors adopted a cautious stance, leading to broad-based selling pressure across the board," the brokerage noted, highlighting concerns over the geopolitical conflict's impact on both domestic and global markets.

Throughout the session, selling pressure spread across most sectors, and many risk-averse investors remained inactive, monitoring the market amid the absence of any visible progress toward a resolution or ceasefire.

Sector-wise, banking led trading activity, accounting for 17% of total turnover, followed by pharmaceuticals at 15.6% and textiles at 10.4%. Top turnover leaders included Orion Infusion, City Bank, Robi, Summit Alliance Port, and BRAC Bank.

Most sectors posted losses, reflecting broad-based selling. Life insurance recorded the steepest decline at 1.9%, followed by general insurance (-1.5%) and banking (-1.4%). Only the financial institutions sector managed a marginal gain of 0.3%.

Among individual stocks, Aamra Technologies led the gainers with a 9.77% rise, followed by Metro Spinning (+9.67%), Pacific Denims (+9.25%), Prime Finance (+9.25%), and International Leasing (+9.09%). On the losing side, ICB Islamic Bank fell 5.71%, Sonar Bangla Insurance dropped 5.03%, Sunlife Insurance lost 4.66%, Sea Pearl Beach Resort shed 4.51%, and Meghna PET declined 4.40%.