OPEC+ agreed ‌on Sunday to raise its oil output quotas by 206,000 barrels per day for May, a modest rise that will largely exist on paper as its key members are unable to raise production due to the US-Israeli war with Iran.

The war has effectively shut the Strait of Hormuz - the world's most important oil route - since the end of February and cut ​exports from OPEC+ members Saudi Arabia, the UAE, Kuwait and Iraq, the only countries in the group which were able to significantly raise ​production even before the conflict began.

Crude prices have surged to a four-year high close to $120 a barrel, translating into soaring ⁠prices for transport fuels which are pressuring consumers and businesses across the globe, and triggering government action to conserve supplies.

The OPEC+ quota increase of 206,000 bpd ​represents less than 2% of the supply disrupted by the Hormuz closure, but it signals readiness to raise output once the waterway reopens, OPEC+ sources have said. Consultancy ​Energy Aspects called the increase "academic" as long as disruptions in the strait persist.

"In reality it adds very few barrels to the market," said Jorge Leon, a former OPEC official who now works as head of geopolitical analysis at Rystad Energy.

"When the Strait of Hormuz is closed additional barrels from OPEC+ become largely irrelevant."

OPEC+ CONCERNED ABOUT ATTACKS ON ENERGY ASSETS

Eight members of ​OPEC+ agreed to the increase in May quotas at a virtual meeting on Sunday, OPEC+ said in a statement.

Besides the disruptions affecting Gulf members, others ​such as Russia are unable to increase output - in Moscow's case due to Western sanctions and damage to infrastructure inflicted during the war with Ukraine.

Inside the Gulf, damage to infrastructure from ‌missile and ⁠drone attacks has also been severe. Several Gulf officials have said it would take months to resume normal operations and reach production targets even if the war stopped and Hormuz reopened immediately.

A separate OPEC+ panel that also met on Sunday, called the Joint Ministerial Monitoring Committee, expressed concern about attacks on energy assets, saying they were expensive and time-consuming to repair and so have an impact on supply, OPEC+ said in a statement.

Two months into the Iran war, and the feds, still on the sidelines, are waiting—the riskiest strategy of all.

Iran said on Saturday Iraq was from any ​restrictions to transit Hormuz, and shipping ​data on Sunday showed a tanker ⁠loaded with Iraqi crude passing through the strait. Still, it remains to be seen if more vessels will take the risk involved, a source close to the issue said.

WAR CAUSES WORLD'S WORST OIL SUPPLY DISRUPTION

May's OPEC+ increase is the ​same as the eight members had agreed for April at their last meeting held on March 1, just as the ​war began to disrupt ⁠oil flows.

A month later, the largest oil supply disruption on record is estimated to have removed as many as 12 to 15 million bpd or up to 15% of global supply.

Oil prices could spike above $150 - an all-time high - if flows via Hormuz remain disrupted into mid-May, JPMorgan said on Thursday.

OPEC+ groups 22 members including Iran. In recent years ⁠only the ​eight countries meeting on Sunday have been involved in monthly production decisions, and they started in ​2025 to unwind previously agreed output cuts to regain market share.

The eight raised production quotas by about 2.9 million bpd from April 2025 through December 2025, before pausing increases for January to ​March 2026.

The eight hold their next meeting on May 3.

The Bangladesh Securities and Exchange Commission (BSEC) has ordered a formal enquiry into Robi Axiata, the country's second-largest mobile network operator, over alleged financial irregularities, governance concerns and disclosure failures.

The decision was taken in the last week of March, when the Commission exercised its statutory authority to launch an investigation and appoint a dedicated enquiry team.

BSEC director and spokesman Abul Kalam told TBS that the investigation committee was formed based on specific complaints received by the regulator. He said the complaints involve possible financial irregularities and violations of laws and regulations.

The committee will closely examine financial records, compliance with securities rules, corporate governance practices, and whether any material information was concealed or misreported, Kalam said.

He added that the purpose of the investigation is to verify the facts and recommend appropriate actions based on the findings.

Shahed Alam, chief corporate and regulatory officer of Robi Axiata, said, "We are conducting all our activities in full compliance with applicable laws and regulations and will provide all necessary support to the relevant regulatory authority."

On Sunday, the company's share price fell 2.40% to Tk28.50 on the DSE.

Probe committee

In an official order, BSEC said the enquiry will focus on issues outlined in the Terms of Reference, including accounting treatment, related-party transactions, corporate governance practices, and compliance with disclosure requirements during the financial years 2021 and 2022.

The three-member enquiry committee, comprises Md Rafiqunnabi, deputy director of BSEC; Tanmoy Kumar Ghosh, assistant director of BSEC; and Gias Uddin, manager of the Dhaka Stock Exchange.

The committee has been instructed to complete the enquiry and submit its report within 60 working days from the date of the order.

Accounting and management review

One of the central areas of investigation involves alleged accounting irregularities, specifically claims of "masking", where operating expenditures were reportedly misclassified as capital expenditures in FY21 and FY22.

The regulator will examine the scale of such misclassifications, identify potential beneficiaries, and assess the overall financial impact on the company's reported performance.

The inquiry will also assess the involvement of senior management, including the chief executive officer, chief financial officer and the board audit committee, to determine whether these practices were approved, ignored or concealed.

Related-party transactions, governance

Another key focus area is conflicts of interest and related-party transactions. The BSEC will examine the dual role of Thayaparan S Sangarapillai, who served as chairman of Robi Axiata while also acting as an independent director of EDOTCO Group Sdn Bhd from 2016 to 2025.

All transactions between Robi Axiata and EDOTCO, including lease agreements, infrastructure-sharing arrangements and any share transfers, will be reviewed to determine whether they were conducted at arm's length or resulted in any value leakage to Axiata Group Berhad or its affiliates.

Corporate governance issues are also under scrutiny. The inquiry will investigate the resignations of independent directors Akhtar Sanjida Kasem and Kamran Bakr, who reportedly stepped down citing "undue interference" in board affairs.

The regulator will also review the fairness and independence of an internal inquiry process chaired by Sangarapillai, particularly in light of previous allegations against him.

The investigation will assess whether principles of natural justice, impartiality and shareholder protection were properly upheld.

Disclosure and shareholder concerns

In addition, the Commission will examine Robi Axiata's annual reports for 2021 and 2022 to determine whether there were any omissions of material information.

Compliance relating to the disclosure of material non-operating income and expenses, as well as transparency in related-party transactions, will also be reviewed.

Shareholder concerns raised at the company's last annual general meeting will be part of the enquiry, particularly issues related to expenses on legal proceedings and forensic audit costs, as well as the company's alleged lack of response to investor queries.

Financial performance

Robi Axiata posted a net profit of Tk937 crore in 2025, its first annual profit since listing on the stock exchange five years ago. The earnings represent a 33.3% year-on-year increase compared to 2024.

Riding on improved profitability, the board recommended a 17.5% cash dividend, or Tk1.75 per share, the highest since its market debut in 2020.

The proposed payout accounts for 97.8% of the company's total profit for the year. In 2024, Robi Axiata declared a 15% cash dividend.

Market stakeholders have urged the Bangladesh Securities and Exchange Commission (BSEC) to expedite the listing of profitable state-owned enterprises, calling on the regulator to present the issue to the newly elected government as a priority to help revive the struggling capital market.

The call came during a monthly coordination meeting held at the commission's headquarters today (5 April), where senior officials, including Chairman Khondoker Rashed Maqsood and other commissioners, met with representatives from various market institutions and stakeholder groups.

The meeting focused on a wide range of pressing issues affecting the country's capital market, with particular emphasis on increasing the supply of quality stocks.

Participants stressed that the prolonged absence of new listings has significantly weakened investor confidence and reduced market depth.

Although new initial public offering (IPO) regulations have already been introduced, they noted that the pipeline of fresh listings remains thin. In this context, the listing of profitable government-owned companies was identified as one of the most effective ways to inject momentum into the market.

Saiful Islam, president of the DSE Brokers Association of Bangladesh, told The Business Standard that the market has been in decline for an extended period and requires immediate intervention.

He said initiatives to list state-owned enterprises had been taken during the interim government's tenure, with some preparatory work already completed. With a new government now in place, he urged the regulator to act swiftly to move the process forward.

Highlighting a specific case, he pointed to Central Depository Bangladesh Limited as a profitable institution that continues to generate strong earnings from its core operations but remains unlisted.

He called for expedited steps to bring the company to the market, saying such a move would enhance transparency and offer investors access to a fundamentally strong entity.

Governance reforms, market development

Another key issue raised at the meeting was the long-pending review of the demutualisation scheme of the Dhaka Stock Exchange.

Stakeholders expressed concern over the lack of visible progress in revisiting the framework, which they said is essential for improving governance and operational efficiency at the bourse.

In response, the BSEC chairman assured participants that the commission would take necessary steps in this regard.

The discussion also covered broader reform initiatives, including efforts to upgrade the market from frontier to emerging status, implementation of electronic know-your-customer (e-KYC) systems, and plans to launch a commodity exchange.

Participants stressed the need for stronger coordination among market institutions, improved corporate governance, and stricter measures to prevent manipulation and irregularities.

They also discussed expanding investor education programmes, introducing new financial products, and ensuring the accuracy of price-sensitive information disclosures.

Addressing investor protection, stakeholders highlighted the importance of compensating affected investors through dedicated protection funds, as well as resolving issues related to negative equity and unrealised losses.

During the meeting, the BSEC Chairman Maqsood reiterated the commission's commitment to ongoing reforms, noting that major regulatory frameworks – including new margin rules, mutual fund regulations, and public offering rules – have already been introduced.

He added that corporate governance regulations are in the pipeline and will be finalised soon.

The chairman said bringing large public-interest companies into the capital market remains a top priority for the regulator, but achieving this would require strong government support and cooperation from all relevant stakeholders.

The country's private sector credit growth fell to a historic low of 6.03% in February, driven by prolonged political instability and a high interest rate regime. Bankers and business leaders say that due to the Iran war, a recovery in credit growth is unlikely in the near future.

According to the latest data from the Bangladesh Bank, credit growth edged down from 6.1% in December, continuing a sharp decline from 10.13% recorded in July 2024.

Although there was a brief spike to 6.58% in November, analysts attribute this to loan restructuring ahead of the 12 February national election, rather than genuine new investment in productive sectors.

In its monetary policy statement for January-June 2026, the central bank attributed the slowdown to tight monetary conditions, increased government borrowing to finance the budget deficit, and subdued loan demand amid ongoing uncertainty over new investment decisions.

Sohail RK Hussain, Managing Director of Bank Asia PLC, told TBS, "There was an election in early February. After the election, when the government began focusing on private sector growth, the unexpected challenge of the Iran war emerged."

He added, "Our investment outlook now largely depends on when the war ends. Even if the war stops now, credit growth will not recover for the next few months."

"The biggest challenge for businesses at the moment is energy. Importing fuel at competitive prices will raise costs, putting pressure on businesses. This may require further increases in interest rates to control inflation."

"Overall, the coming months will be quite challenging – particularly in terms of inflation, rising dollar exchange rates, and demand for export products."

Private credit growth dips to record low at 6%

The decline has been consistent in recent months, with growth recorded at 6.29% in September, 6.35% in August, 6.52% in July, 6.40% in June, 7.17% in May, and 7.5% in April. In contrast, private sector credit growth stood at 10.13% in July 2024 before dropping sharply following the political transition in August.

Newly appointed central bank Governor Md Mostaqur Rahman has indicated that policy support will be introduced to revive private sector lending and restore economic momentum.

On his first day in office, he said lending rates would be gradually reduced to encourage investment, and reopening closed factories and businesses would be essential to revitalise economic activity-signalling a possible shift away from the prolonged contractionary monetary stance.

However, despite the governor's assurance of lowering lending rates, the central bank has not yet taken steps to reduce policy rates due to new challenges such as the Iran war.

A deputy managing director of Sonali Bank, speaking anonymously, told TBS that investment had remained low due to prolonged political uncertainty. Although credit growth was expected to rise under an elected government, the war has introduced fresh uncertainty.

He said, "Businesses want to invest, but there is no assurance of energy supply. The government's current method of procuring fuel is also costly, which will increase investment costs. At the same time, banks' loan recovery situation is very weak. Many clients have rescheduled loans under policy support, creating pressure on cash flow and reducing the capacity to issue new loans."

Syed Mahbubur Rahman told TBS that banks are currently lending at around 11% interest while paying similar rates on deposits, leaving very thin margins.

He noted that although high lending rates are a constraint, investors prioritise reliable infrastructure – such as gas, electricity, and port facilities – over financing conditions.

Persistent energy shortages and infrastructure bottlenecks, he said, have prevented both expansion by existing businesses and entry by new investors.

Tight monetary policy strains banking sector, slows deposit and credit growth: Planning Commission report

A major factor behind the slowdown in credit growth has been increased government borrowing from banks. Between July and 19 March of the 2025-26 fiscal year, net credit to the government reached Tk98,000 crore, equivalent to 94.73% of the revised annual target of Tk1.18 lakh crore.

Banks are also struggling with rising non-performing loans, which climbed to a record Tk5.57 lakh crore by the end of December 2025 – about one-third of total outstanding loans.

High default levels have weakened bank capital positions, increased provisioning requirements, and made lenders more cautious in approving new loans.

Liquidity pressures and slow deposit growth have further constrained lending capacity. In an effort to curb inflation, the central bank earlier raised its policy rate to 10%, pushing commercial lending rates close to 13.5% and discouraging businesses – especially small and medium enterprises – from taking new loans.

The effects of weak credit growth are increasingly visible across the economy. Imports of capital machinery have declined, signalling slower industrial expansion, while reduced investment has dampened money circulation. Many factories are operating below capacity, consumer demand remains weak, and private sector job creation has slowed.

As Bangladesh moves towards its scheduled graduation from Least Developed Country (LDC) status on 24 November 2026, a new assessment highlights significant risks and structural vulnerabilities that could undermine a smooth transition.

While Bangladesh meets the graduation criteria, it is not fully prepared for a sustainable post-LDC phase due to long-standing issues such as loss of trade preferences, macroeconomic pressures, fiscal and financial vulnerabilities, and institutional and implementation weaknesses, the UN-sponsored assessment finds.

With significant readiness gaps remaining, the 2026 graduation could disrupt development gains, making the coming months crucial for policy action and decision-making, concludes the Bangladesh Graduation Readiness Assessment, conducted by the UN Office of the High Representative for LDCs.

The report was discussed at a stakeholders' meeting today (5 April) at the National Economic Council auditorium in Sher-e-Banglanagar, attended by ministers, trade diplomats, and representatives from the private sector and international agencies.

Speaking as chief guest, Finance and Planning Minister Amir Khosru Mahmud Chowdhury said the country is not yet fully prepared to achieve this goal. Key challenges include pressures from foreign and domestic debt, the high cost of borrowing, and weaknesses in overall financial management.

The minister added that the current global energy crisis and disruptions in international supply chains could place further strain on Bangladesh's economy. "The impact will extend beyond the energy sector, affecting markets for food and other goods and driving up inflation, which is already a global concern."

He further said that while fuel prices have surged worldwide, Bangladesh has so far kept them relatively under control, though the government cannot maintain this indefinitely.

"Being an elected government, we are trying to avoid placing sudden extra burdens on the people. Yet if financial pressures continue and government resources are drained, the ultimate cost will fall on citizens. Economic decisions must therefore be taken with extreme caution, balancing public welfare with long-term stability of the economy," he added.

Months before the Middle East conflict, Bangladesh formally requested a three-year extension of its preparatory period to November 2029 under the Enhanced Monitoring Mechanism.

It also sought an independent Graduation Readiness Assessment from the UN Office of the High Representative for LDCs, Landlocked Developing Countries, and Small Island Developing States, which commissioned the report.

'Past five years consumed by crisis management'

Economists Daniel Gay and MA Razzaque presented the report's key findings, highlighting the external and domestic crises Bangladesh faced during the five-year preparatory period from 2021.

These included the Rohingya refugee crisis, the Covid-19 pandemic, the Russia-Ukraine war, the July 2024 political transition, inflation, fiscal stress, falling investment, and rising debt.

Rather than a period of strategic preparation, the report notes, the past five years were dominated by crisis management, economic stabilisation, and political survival. It adds that the Middle East crisis has further disrupted supply chains, caused energy price volatility, and raised risks in remittance inflows.

The assessment identifies six critical vulnerabilities. Chief among them is potential loss of preferential access to the European Union market, which accounts for 44% of Bangladesh's exports.

An extension or postponement of graduation for around three years would allow time to strengthen key economic fundamentals.
Amir Khosru Mahmud Chowdhury, finance minister

Under the GSP+ scheme beyond 2029, apparel exports could face 12% tariffs, compared with zero-duty access now, leaving Bangladesh at a disadvantage versus competitors like Vietnam and India.

The report also flags a deepening banking sector crisis, with NPLs reaching 35% of total credit by September 2025, weakening the financial sector's ability to support investment.

Fiscal pressures are mounting, with government revenue at just 6.8% of GDP and debt servicing consuming about 31% of revenue. The IMF and World Bank have already classified Bangladesh's debt distress risk as "moderate," the report mentions.

Structural competitiveness challenges persist, including logistics costs around 16% of GDP, port congestion, customs inefficiencies, and energy shortages that raise production costs. Implementation capacity remains weak, with slow progress on the government's transition strategy due to limited coordination and administrative strain.

Social pressures are rising as well. Inflation has pushed an estimated 90 lakh people into poverty, raising the poverty rate to over 21.2% in 2025 from 18.7% in 2022. Employment fell by 19 lakh between 2023 and 2024, disproportionately affecting women and highlighting a fragile labour market.

Given these challenges, the UN Committee for Development Policy allows for possible deferral under exceptional circumstances, citing General Assembly resolution 67/221 (2012), which stresses that graduation "should not disrupt the development progress achieved" by a country.

Govt waiting for UN CDP's response

Earlier, the government formally requested a three-year extension, signalling that while Bangladesh meets the formal criteria for graduation, the challenge lies in managing the transition.

According to the Economic Relations Division (ERD), a clear process governs any decision on postponing graduation. First, the UN Committee for Development Policy (CDP) evaluates whether an extension is warranted. If so, the CDP submits its recommendation to the UN Economic and Social Council (ECOSOC). After review and approval by ECOSOC, the matter goes to the UN General Assembly for final endorsement.

ERD sources said the CDP has not yet issued a final assessment. While it was initially expected in March, the report has now been delayed to May. A key ECOSOC meeting on 10-11 June may discuss Bangladesh's request, where preliminary decisions or recommendations could emerge.

UN Under-Secretary-General and High Representative for LDCs Rabab Fatima said the request is under CDP review. "Once the technical assessment is complete, CDP will submit recommendations to ECOSOC, which will form the basis for a UN General Assembly decision."

ERD Secretary Shahriar Kader Siddiky said the extension request does not indicate a change in graduation ambition, but is a strategic measure to ensure a smooth, sustainable, and irreversible transition.

Govt 'firefighting' to manage daily crises: Khosru

Endorsing the identified vulnerabilities, Minister Amir Khosru said Bangladesh is currently navigating a complex economic situation, where the government is largely "firefighting" to manage daily crises.

He added that the government inherited an economy where all key macroeconomic indicators were in decline. "We are simply fighting to salvage the economy," he said.

The government views capacity building as the most critical factor for navigating this crisis, he said, claiming the policies outlined in the BNP manifesto have been explicitly aligned with this approach.

"If these policies are implemented effectively and on schedule, the economy can gradually be strengthened on a solid foundation, making it possible to prepare for LDC graduation," said the minister.

He also said that an extension or postponement of graduation – around three years – would allow time to strengthen key economic fundamentals.

"If necessary reforms, capacity building, and economic stabilisation can be achieved during this time, graduation will become a realistic and sustainable goal.

Commerce Minister Khandakar Abdul Muktadir highlighted prudent debt management and expanding the tax base as essential to regaining economic momentum.

Rashed Al Mahmud Titumir, finance and planning adviser to the prime minister, added that structural transformation, economic diversification, and productivity enhancement are crucial to achieving a "Trillion Dollar Economy" by 2034.

State Minister for Planning Zonayed Abdur Rahim Saki said the government will prioritise medium- and long-term development plans that explicitly address the challenges of LDC graduation.

The ongoing chaos over fuel has driven up truck and covered van fares by 20% to 30% on key routes, disrupting goods transportation across Chattogram, Benapole, Khulna and the northern region.

The increase has added pressure on both traders and consumers supplying essential commodities, with traders warning that higher transport costs could soon push up market prices.

In the Benapole, uncertainty in fuel supply is directly driving up transport expenses. Truck driver Abul Kasem said fares have jumped by Tk5,000 to Tk7,000 within a few days, warning that prolonged disruption could cripple their business.

Similar pressure is evident on the Khulna route, where rising transport costs for perishable goods are already feeding into the market. Watermelon trader Altaf Hossain said a 20-tonne truck that once cost Tk20,000 now requires at least Tk25,000, forcing buyers to pay more.

In the northern region, the fuel shortage has emerged as a major challenge during the peak season for transporting seasonal agricultural produce.

Muhammad Shahadat Hossain Saju, owner of a cold storage facility in Bogura, said it is now the peak potato transport season, yet vehicles cannot operate regularly. Even when they do, higher fares are unavoidable due to fuel scarcity.

The poultry sector is also beginning to feel the strain, with rising transport costs complicating market supply and demand.

Truck driver Israfil Alam, who supplies chickens to Dhaka from northern districts, said fares from Rangpur have increased from Tk18,000–19,000 to around Tk21,000.

Trader Suman Ali, who transports chillies from Bogura to Chattogram, reported a similar trend, with per-truck costs rising from Tk28,000 to between Tk35,000 and Tk37,000.

Fears of rise in essential prices

Rising transport costs amid the fuel shortage are feared to push up consumer prices, with traders warning of further increases in essential goods.

Benapole truck driver Abdus Sobhan said, "I transport one truckload at a time. I now pay Tk4,000 more than before. Owners will pass this cost onto the goods."

He added, "There is no real diesel shortage. Trucks are running with adequate fuel. Owners are using the fuel crisis to justify fare hikes."

Transport owners said irregular supply is driving costs. Azim Uddin Gazi, president of the Benapole Truck Owners' Association, said, "Petrol and octane face minor issues, but diesel is sufficient. Delays in timely supply are pushing up fares, as pumps provide only half the required fuel."

Business representatives blamed weak supply systems and hoarding. Ejaz Uddin Tipu, joint secretary of the Jashore Chamber, said, "There is no real market shortage. Some hoard fuel, straining pumps, and truck owners exploit this to raise fares."

Pumps continue rationing in Ctg

Even with scheduled depot deliveries, most Chattogram filling stations remain closed or ration fuel. Pump owners said rationing continues despite its official removal.

Bangladesh Petroleum Corporation (BPC) confirmed fuel arrives regularly, but pump owners said quantities are insufficient, and intermittent deliveries prevent consistent supply.

On Sunday, 13,000 litres of octane and 9,000 litres of diesel arrived at the city's QC pump, but surging demand strained stocks. At CMP Filling Station, 2,363 litres of diesel and 2,574 litres of octane were available in the afternoon, with sales ongoing.

Government vehicles at CMP received full allocation, while private motorcycles were limited to Tk500 and cars to Tk2,000. QC Filling Station followed the same rationing system. In contrast, Apollo Filling Station was fully closed, and Wasa Mor pumps operated at limited capacity.

One pump owner added, "We sell exactly what comes from the depot. We cannot turn customers away, so rationing is necessary."

Mohammad Mainuddin, member secretary of the Chattogram division of the Bangladesh Petroleum Dealers, Distributors, Agents and Petrol Pump Owners Association, told TBS, "Our stations have no fuel shortage. We sell only what dealers supply. Tag officers are deployed to maintain normal supply. The main issue is hoarding—many store excess fuel at home. Public awareness can restore normal operations."

Prime Bank PLC has reached a major milestone by becoming the first bank in Bangladesh to offer a consumer loan secured against treasury bonds.

The initiative marks a significant development in the country's banking and financial services sector.

After receiving guidance from Bangladesh Bank on Thursday evening, 2 April 2026, the bank completed the first loan disbursement by the following morning. The swift turnaround, the bank said, reflects strong operational coordination and execution capacity across the institution.

The new product enables customers to unlock liquidity by borrowing against their treasury bond holdings, allowing them to meet financial needs without selling their investments. According to the bank, the offering reflects Prime Bank's commitment to delivering modern, customer-focused financial solutions in response to evolving market demand.

The rollout of the initiative was made possible through close collaboration among several teams, including Gulshan Branch, the Credit Administration Division, Credit Risk Management, and the Wealth Management unit. Their coordinated efforts ensured a smooth and rapid approval and disbursement process.

Additional Managing Director of Prime Bank PLC M Nazeem A Choudhury said, "This achievement reflects our capacity to innovate within regulatory frameworks while delivering meaningful value to our customers. We remain focused on introducing progressive financial solutions that enhance accessibility, flexibility and efficiency."

With this development, Prime Bank continues to strengthen its reputation as a forward-looking financial institution, setting new standards in innovation and contributing to the evolution of Bangladesh's banking landscape.

Trust Bank PLC has launched its distribution finance facility for TAP distributors, dealers, and merchants at the bank's head office in Jahangir Gate.

The programme was attended by the Managing Director & CEO of Trust Bank PLC, Ahsan Zaman Chowdhury, in the presence of senior officials from both organisations.

The facility will provide working capital financing to TAP's distribution network, with the aim of promoting digital financial services and supporting the expansion of the SME sector across Bangladesh.

Inflow of remittances witnessed a year-on-year growth of 425.3 percent reaching US$339 million in the first four days of April, according to the latest data of Bangladesh Bank (BB) issued.

Last year, during the same period, the country’s remittance inflow was $65 million.

During the July to April 5, 2026 of the current fiscal year, expatriates sent remittances of $26,548 million, which was $21,850 million during the same period of the previous fiscal year.

Bangladesh’s stock market fell to a nearly two-and-a-half-month low yesterday, with the benchmark index dropping more than 2 percent amid rising concerns over global energy prices following escalating tensions in the Middle East.

The DSEX, the prime index of the Dhaka Stock Exchange, declined by 107.46 points, or 2.06 percent, to close at 5,112.27. The index last hovered near this level on January 26.

Market participants attributed the downturn to growing uncertainty surrounding the conflict involving the United States, Israel and Iran, which has heightened fears of prolonged energy price volatility.

“As tensions escalated over the weekend, investors became concerned that energy prices could rise further or remain elevated for a longer period,” said Asif Khan, chairman of EDGE AMC (Asset Management Company) Limited.

The other two indices on the DSE also declined.

The shariah-based DSES fell 18.47 points, or 1.74 percent, to 1,041.10, while the blue-chip DS30 index dropped 35.02 points, or 1.77 percent, to 1,945.34.

Turnover stood at Tk 512 crore, down 18.21 percent from the previous trading session. The pharmaceuticals sector dominated trading, accounting for 17.1 percent of total turnover.

Block market transactions amounted to Tk 17.51 crore, representing 3.4 percent of the day’s turnover.

Among the major turnover leaders, Asiatic Laboratories Limited fell 4.52 percent, followed by ACME Pesticides Limited (3.81 percent), Summit Alliance Port Limited (0.99 percent), and Dominage Steel Building System Limited (1.35 percent).

Out of the traded issues, only 25 advanced, while 354 declined and the rest remained unchanged.

According to a daily market update by Shanta Securities, the downturn was driven by negative movements in travel and leisure, banking, and paper and printing stocks, despite gains in debentures, information technology and miscellaneous sectors.

No sector ended in positive territory, with mutual funds, ceramics and jute among the worst performers, said UCB Stock Brokerage Limited.

At the Chittagong Stock Exchange, the CASPI index also declined, shedding 228.40 points, or 1.55 percent, to close at 14,473.09.

Crude oil prices opened higher on Monday, with US benchmark West Texas Intermediate up 1.86 percent to $113.62 a barrel, as the war in the Middle East continues to squeeze global energy supplies.

North Sea Brent crude was also higher at the week's market opening, climbing 1.16 percent to $110.30 a barrel.

President Donald Trump has set a Tuesday deadline for Iran to end the war and reopen shipping in the critical Strait of Hormuz waterway, threatening in an expletive-laden social media post Sunday to strike the country's power plants and bridges if it did not comply.

"Tuesday will be Power Plant Day, and Bridge Day, all wrapped up in one, in Iran. There will be nothing like it!!!" Trump wrote on his Truth Social platform, before later telling Fox News he thought there was a "good chance" Iran would agree to a deal on Monday.

The war, entering its sixth week since the US and Israel first attacked Iran on February 28, has engulfed the Middle East in conflict and upended the global economy.

Iran has virtually blocked the Strait of Hormuz, through which about 20 percent of the world's oil and gas transits, sending petroleum prices skyrocketing.

The Opec+ oil cartel agreed on Sunday to again increase oil production quotas, while warning that repairing energy facilities, such as those damaged in the Middle East war, is “costly and takes a long time”.

For the second month in a row, Opec+ countries -- which include key oil producers Russia and Saudi Arabia, as well as several Gulf countries that have been targets of Iranian airstrikes -- agreed to raise quotas by 206,000 barrels per day (bpd) from May.

But Opec+ warned that damage to energy infrastructure increases oil market volatility, potentially hitting global supplies well into the future.

Its statement also stressed “the critical importance of safeguarding international maritime routes to ensure the uninterrupted flow of energy”.

The text did not mention the Iran war directly, but the conflict -- which has roiled global energy markets and caused prices to surge -- clearly weighed on the decision.

The United States and Israel began striking Iran on February 28, and Tehran has retaliated by striking targets across the region.

In addition to hitting key energy facilities in a number of neighbouring countries, Iran has virtually halted ship traffic through the vital Strait of Hormuz by threatening to attack tankers passing without permission.

That has badly restricted exports from the Gulf region, and raised questions about whether oil can reach global markets even if Opec+ members in the region manage to ramp up production.

Before the war, about a fifth of global oil and liquefied natural gas (LNG) passed through the Strait.

Ukraine has also been striking Russian oil industry facilities as it seeks to fight back against Moscow’s ongoing invasion.

Last month, the eight-strong V8 (Voluntary Eight) group in the Opec+ cartel also raised production quotas by 206,000 bpd.

On Sunday, the V8 said in a statement that “any actions undermining energy supply security, whether through attacks on infrastructure or disruption of international maritime routes, increase market volatility” and make it more difficult for Opec+ to manage global prices.

The eight countries -- Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman -- praised members that managed to find alternate exports routes to deliver oil, “which have contributed to reducing market volatility”.

Mohammed Trading, owned by SAK Ekramuzzaman, managing director of RAK Ceramics (Bangladesh), plans to purchase around 5 lakh shares of the company at current market price, according to disclosures published on stock exchanges today (5 April).

Data from the Dhaka Stock Exchange (DSE) shows that RAK Ceramics shares closed at Tk21.80 each, down 3.11% from the previous session, valuing the planned acquisition at approximately Tk1.09 crore.

The disclosure also confirms that Ekramuzzaman is the proprietor of Mohammed Trading and a sponsor of RAK Ceramics. As of September last year, he held a 3.94% stake in the company, equivalent to 1.69 crore shares.

According to its website, founded in 1996, Mohammed Trading has grown into a prominent player in Bangladesh's trading sector, dealing in high-quality tiles, sanitary ware, faucets, paints, and other consumer products.

The disclosures said the shares to be bought at the current market price through the Dhaka Stock Exchange and Chittagong Stock Exchange.

At the last annual general meeting, shareholders of RAK Ceramics approved entering into contracts for the sale or purchase of goods and materials with Mohammed Trading, amounting to 10% or more of the company's revenue in the immediately preceding financial year, in line with the meeting agenda of the company.

In October last year, Mohammed Trading announced its plan to buy 85 lakh shares of RAK Ceramics at the prevailing market price through the both stock exchanges.

In 2025, RAK Ceramics incurred a loss of Tk39.59 crore, even as its revenue grew by 10.56%, mainly due to higher manufacturing costs, prolonged disruption in gas supply until June, and rising finance expenses.

The multinational ceramic manufacturer's sales rose to Tk7330 crore in 2025 from the previous year, driven largely by increased production following uninterrupted LNG supply from July onward, which helped boost market sales.

Despite the widening losses, its board of directors unanimously recommended a 10% cash dividend for general shareholders for 2025, amounting to Tk11.95 crore.

The declared dividend approved by shareholders in its AGM held on 31 March.

Prime Bank PLC has reported a strong financial performance for 2025, posting a consolidated net profit of Tk910 crore and announcing a 30% dividend for its shareholders, reflecting robust growth and improved operational efficiency.

The board of directors approved the audited financial statements at a meeting held today (5 April) and recommended a total dividend comprising 25% cash and 5% stock.

The latest payout marks a significant increase from the previous year's 20% dividend, which included 17.5% cash and 2.5% stock, according to the press release.

The bank's net profit after tax rose by 24% year-on-year, up from Tk732 crore in 2024. Earnings per share also improved to Tk7.84 in 2025, compared to Tk6.31 in the previous year, indicating enhanced profitability and better returns for investors.

Prime Bank's financial position remained solid, with key performance indicators showing steady growth. Net asset value per share stood at Tk40, while net operating cash flow per share reached Tk58.07, highlighting strong liquidity and operational strength.

The bank's total assets expanded to Tk64,890 crore by the end of December 2025, underscoring its continued business expansion. Its capital adequacy position also remained strong, with a Capital to Risk Weighted Assets Ratio of 18.07%, one of the highest in the country's banking sector.

The bank has scheduled its annual general meeting for 21 May 2026, with the record date set for 28 April to determine eligible shareholders for dividend entitlement.

Market observers view the improved earnings and higher dividend declaration as a positive signal for investors, especially at a time when the broader financial sector is navigating economic challenges. The bank's consistent growth trajectory and prudent risk management have helped it maintain stability and deliver value to shareholders.

Shares of Prime Bank closed at Tk29.40 today at the Dhaka Stock Exchange, reflecting steady investor interest in the stock.

The country's capital market opened the week on a sharply negative note today (5 April), as stocks tumbled amid heavy selling pressure, wiping out significant value and deepening investor anxiety over economic uncertainty and policy direction.

The benchmark index of the Dhaka Stock Exchange (DSE), DSEX, dropped by 107 points, or 2.05%, to close at 5,112, marking one of the steepest single-day declines in recent weeks.

The blue-chip DS30 index also fell significantly, shedding 35 points, or 1.76%, to settle at 1,945.

The broad-based downturn reflected overwhelming bearish sentiment, with 354 issues declining against just 25 gainers, while 11 remained unchanged.

Market turnover also took a hit, falling by 18% to Tk512 crore, indicating reduced participation as investors opted to stay on the sidelines. Total market capitalisation dropped by around Tk8,500 crore in a single session, underscoring the scale of the sell-off.

Major large-cap stocks acted as key draggers behind the decline, including Grameenphone, BRAC Bank, Robi Axiata, BAT Bangladesh, and Square Pharmaceuticals, all of which witnessed significant price erosion.

According to EBL Securities, the market came under pressure from the opening bell, as investor sentiment remained fragile amid concerns over macroeconomic stagnation following the government's recent austerity measures.

The brokerage noted that selling pressure dominated from the opening bell, leaving little room for recovery throughout the session as investors reacted cautiously to ongoing uncertainties.

The downturn comes just a day after the stock exchanges shortened trading hours by 30 minutes in line with government directives aimed at reducing fuel consumption.

Market insiders believe the move, coupled with broader austerity measures, has further dampened investor confidence at a time when the market is already struggling with low liquidity and weak sentiment.

Adding to the uncertainty, investors are closely watching developments surrounding regulatory leadership.

The recent appointment of a special assistant for investment and capital markets to the prime minister initially raised expectations of changes in the leadership of the Bangladesh Securities and Exchange Commission.

However, the absence of any immediate reshuffle has left many investors cautious, with some opting to remain inactive until there is greater clarity.

Sector-wise, all major segments posted losses, with mutual funds leading the decline, followed by ceramics and jute. Despite the broad-based losses, a handful of stocks managed modest gains, while several others faced steep corrections.

The bearish trend was mirrored at the Chittagong Stock Exchange, where the CSCX index fell by 128 points to 8,854, and the CASPI dropped 228 points to close at 14,473. Interestingly, turnover at the port city bourse surged significantly, suggesting selective participation despite the overall negative sentiment.

March brought an easing of inflation in Bangladesh, with the rate falling to 8.71% from February's 10-month high of 9.13%, according to the Bangladesh Bureau of Statistics (BBS) data released on Sunday (5 April).

The overall decline was driven by a sharp drop in food inflation to 8.24% from 9.30% in February. The drop came in stark contrast to the Food and Agriculture Organization (FAO) warning on 3 April that global food prices rose in March to their highest level since September last year.

The FAO cautioned that prices could rise further if the Middle East conflict – which has already pushed up energy costs – continues.

In March, the average wage index increased slightly to 8.09%, marking gains in farm, factories and services, also breaking a 50-month declining streak in workers' real incomes since February 2022.

Dr Fahmida Khatun, Executive Director of the Centre for Policy Dialogue, said, "In reality, the drop in inflation appears somewhat 'disjointed,' meaning it does not fully reflect ground realities."

"If the data does not match people's lived experiences, questions will naturally arise," she said.

However, Zahid Hussain, former lead economist at the World Bank Dhaka office, does not find the March inflation figure unusual.

He explained that a decline in inflation does not mean prices are falling, rather, the rate of increase has slowed. "Prices are still rising, but at a slower pace."

He noted that although the war situation emerged toward the end of February, its full impact had not yet been reflected in March inflation data.

"Prices of fuel, fertiliser, and other inputs are rising in international markets, but these take time to transmit domestically," he said.

Explaining March's decline in price index, the economist also pointed out that domestic adjustments in gas, electricity, and petroleum prices were not made in March, while LPG prices were adjusted only in early April.

He also noted that in countries like India, Pakistan, and the United States, fuel prices are adjusted more frequently, so the impact of global shocks is felt more quickly. In Bangladesh, the monthly adjustment system delays this impact.

However, he noted that in many cases fuel is being sold at 50% to 100% higher prices in informal markets outside fuel stations, but these prices are not captured in the Consumer Price Index, meaning the real pressure is not fully reflected in official statistics.

The impact of higher costs of transportation, imports, shipping, and insurance premiums is likely to become visible from April-May, he warned.

According to BBS data, the food price index dropped more in rural areas than urban areas, which saw steeper decline in non-food indices in March.

Eleven banks and the majority of non-bank financial institutions (NBFIs) in Bangladesh reported no spending on corporate social responsibility (CSR) in 2025, exposing gaps in participation despite a rise in overall CSR expenditure by banks in the latter half of the year, according to a Bangladesh Bank report published today (5 April).

The report shows that 11 of the country's 61 banks recorded zero CSR expenditure during the year. A similar pattern was seen among NBFIs, where 21 out of 35 institutions reported no CSR spending at all.

Despite the limited participation by many institutions, overall CSR spending by banks increased significantly in the second half of 2025. Total CSR expenditure by banks reached Tk197.85 crore between July and December, up from Tk147.19 crore in the first half of the year.

The data also indicates that CSR spending remains concentrated among a small number of banks, with a handful of lenders accounting for a large share of the total outlay.

Standard Chartered Bank contributed the highest amount at Tk27.71 crore, followed by BRAC Bank with Tk20.04 crore and EXIM Bank with Tk19.85 crore.

Private banks dominated overall CSR spending, accounting for 79.16% of the total. In contrast, state-owned banks contributed only 4.09%, highlighting a stark imbalance between the two groups.

CSR spending also remained largely focused on traditional sectors.

Education received the largest share, accounting for 32.47% of total CSR expenditure, while health accounted for 29.07%. Together, the two sectors received nearly 60% of the total CSR allocation.

Spending on environment and climate-related initiatives remained comparatively low. Allocations for environmental protection and climate action stood at 14.81%, falling short of the 20% guideline set by Bangladesh Bank.

Under Bangladesh Bank regulations, banks and financial institutions are required to allocate up to 1% of their net profits to CSR activities.

Of this amount, at least 30% must be spent on education and another 30% on health. A further 20% is required to go towards environmental protection and climate change mitigation, while the remaining 20% may be allocated to areas such as income generation, disaster management, infrastructure development, sports and cultural activities.

Bangladesh Bank is set to hold another special auction of Tk5,000 crore worth of 91-day treasury bills on 8 April, taking the total amount raised through such auctions in this month to Tk10,000 crore.

A senior central bank official confirmed the development to The Business Standard today (5 April), saying the move comes in response to the government's growing financing needs.

Bankers say the government is increasingly relying on the banking sector due to a revenue shortfall and rising expenditure pressures. At the same time, excess liquidity in banks has created room for such borrowing.

A senior official from a private sector bank noted that banks had placed around Tk11,500 crore in the standing deposit facility (reverse repo) toward the end of last month, indicating surplus funds in the system. This has encouraged the central bank to mobilise funds from the market.

BB to hold Tk5,000cr special repo auction as govt cash demand rises

Additionally, Bangladesh Bank has been purchasing US dollars from commercial banks through auctions since the beginning of the fiscal year, further injecting liquidity into the banking system.

Another banker said the government had also resorted to off-calendar borrowing in the October-December quarter, raising around Tk10,000 crore to meet urgent funding needs.

Such off-calendar auctions typically signal immediate financing requirements, driven by various government initiatives, including social safety net programmes.

For the April-June quarter, the government plans to borrow Tk1.10 lakh crore in short-term funds through treasury bills. This includes Tk44,000 crore in 91-day bills, Tk36,000 crore in 182-day bills, and Tk30,000 crore in 364-day bills, to be auctioned in 12 weekly sessions.

Treasury bill yields fall below 10% amid rising banking liquidity

In addition, the government aims to raise another Tk39,000 crore through treasury bonds of medium and long-term tenures.

Officials from the central bank's Debt Management Department said the auction schedule has been prepared based on the government's financing requirements. However, they noted that this borrowing does not reflect net new debt, as maturing bills and bonds are routinely rolled over through fresh issuances.

Meanwhile, private sector credit growth remains subdued at 6.03%, reflecting weak investment demand. With limited lending opportunities, banks are increasingly investing in government securities, which are considered risk-free.

US President Donald Trump is due to meet Chinese President Xi Jinping in May during his first visit to China in eight years, a closely watched trip that comes just a year after Washington rolled out sweeping and at times erratic global tariffs.

The confrontation between the world's two top economies has evolved from slapping tit-for-tat tariffs to managing tensions following numerous rounds of trade talks, as well as phone calls and a meeting between their presidents last year.

Developments this year

March - US launches new Section 301 unfair trade probes into Chinese industries. China responds with reciprocal investigations. Plans for a summit between Trump and President Xi Jinping were underway but Trump delays Beijing visit to mid-May as the Iran war continues.

US Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer meet Chinese Vice Premier He Lifeng and top trade negotiator Li Chenggang in Paris for a sixth round of talks that both sides described as "constructive."

February - US Supreme Court rejects Trump's global tariff regime. Trump indicates he will still use tariffs.

June-August - Trump says trade truce was back on track after some Chinese rare earth magnet producers begin to receive export licences. US starts issuing licences to Nvidia to export its advanced artificial intelligence chips to China, while Trump urges China to quadruple US soybean purchases. Tariff truce was extended another 90 days.

May - At the first round of trade talks, held in Geneva, both sides strike a 90-day truce that allowed lofty tariffs to come down. Three weeks later, Trump says China violated an agreement to mutually roll back tariffs and ease curbs on critical minerals exports. China says US had introduced multiple "discriminatory restrictive" measures against China.

April - After returning to office with a 10% punitive tariff on Chinese goods, Trump announces at the start of April sweeping "Liberation Day" tariffs on all imports that hurt relations with China more. China retaliates and both countries take turns raising levies against each other to exceed 100%. China also begins restricting some rare earth exports.

The Bangladesh Investment Development Authority (Bida) has retreated from an earlier announcement that the government had set up a formal Private Sector Advisory Council.

Late last night, Bida issued a clarification, hours after a widely shared statement named nine prominent business leaders as the inaugural members of the body.

The Daily Star had reported on the basis of Bida’s original press release, circulated yesterday afternoon.

In the revised message posted on its Facebook page, the authority said the meeting with Prime Minister Tarique Rahman was convened to hear observations and recommendations from selected entrepreneurs and to help set priorities for private sector-led growth.

But the authority in the revised message said it was not a formal advisory council of the government or the prime minister.

“The meeting had no organisational or legal basis. However, similar engagements would continue in the future,” said Bida.

In its initial announcement, Bida Executive Chairman Ashik Chowdhury described the council as “one of the key reforms proposed by Bida”.

The first statement said the nine business leaders who attended yesterday’s meeting had been personally selected by the prime minister to serve on the council.

They were Arif Dowla, managing director of ACI; Syed Nasim Manzur, managing director of Apex Footwear; Hafizur Rahman Khan, chairman of Runner Group; Ahsan Khan Chowdhury, chairman of PRAN-RFL Group; Ziaur Rahman, managing director of Bay Group; Abdul Muktadir, chairman of Incepta Group; Md Abdul Jabbar, managing director of DBL Group; Sohana Rouf Chowdhury, managing director of Rangs Group; and Syed Mohammad Tanvir, managing director of Pacific Jeans Group.

In its clarification, the authority attributed the confusion to “misleading information circulating on social media” but did not acknowledge that its own press release had announced the council’s formation and named its members.

Nor did it explain why it had made those assertions in the first place, or what had changed in the space of a few hours.

Contacted, Ashik Chowdhury said the original purpose was to create a platform where the prime minister would hear directly from businesses. The prime minister heard from local businesses, especially those in manufacturing.

He said no notification was issued regarding the formation of the advisory council.

“So there is no legal or organisational basis.”