The Bangladesh Association of Banks (BAB) has welcomed the government’s effort to recapitalise banks by spending over Tk 40,000 crore in the current fiscal year, but said the move needs to be matched by swift legal recovery of misappropriated assets for lasting effects.

Finance Minister Amir Khosru Mahmud Chowdhury disclosed the figure in his budget speech on Thursday, saying the government had committed the funds to restore the financial health of weak banks.

In a statement on the proposed budget, the BAB, which represents bank sponsors, demanded decisive enforcement against wilful defaulters and transparent treatment of shareholdings acquired through irregular means.

“Depositors’ confidence rests on accountability. Further, there should have been a dedicated budgetary allocation for establishing an Asset Management Company (AMC) to clean up the balance sheets of weak banks, reduce their non-performing loan burden and ease capital shortfall challenges across the sector,” said BAB Chairman Abdul Hai Sarker.

The association of private commercial banks stressed the need to match ambition with discipline and accountability.

“This is a budget of ambition and direction -- one that rightly understands a simple truth: there can be no strong economy without strong banks, and no strong banks without trust,” the association said.

It also welcomed risk-based supervision, the removal of undue influence, the development of bond markets, and the move towards a digital, cashless economy.

The proposed bank resolution framework should include clear safeguards to ensure that parties whose conduct contributed to the distress of financial institutions cannot re-enter the system, it added.

The association stressed that government borrowing from the private banking system should remain disciplined so that it does not crowd out private-sector credit, on which investment, exports and employment depend.

“Private credit must be protected,” the BAB chairman said.

The association called for fiscal policy to reinforce capital rebuilding and prevent its erosion, and said dividend taxation should not discourage institutional investment in the capital market.

The trade body further demanded that provisioning shortfalls should, over time, be treated outside taxable income and that the transition to a cashless, digitally inclusive economy must receive adequate fiscal support.

US and Iranian officials said they had agreed on a framework to end their war, halt the US blockade of Iran and reopen the Strait of Hormuz, a preliminary pact that sent oil prices falling but leaves the fate of Iran's nuclear program to further negotiations.

"The Deal with the Islamic Republic of Iran is now complete," US President Donald Trump wrote on his Truth Social platform around 5:30 p.m. ET local time in Washington (2130 GMT) on Sunday. His post came shortly after Pakistani Prime Minister Shehbaz Sharif, whose country has served as a mediator, announced a deal had been struck early on Monday local time.

The memorandum of understanding is scheduled to be officially signed on Friday in Switzerland.

The precise terms were not immediately known. Sharif said in a post on X that the pact called for "the immediate and permanent termination of military operations on all fronts, including in Lebanon."

Lebanon has been a sticking point in negotiations, with Israel and Hezbollah ignoring calls from Trump and others to stop their attacks on each other in recent weeks.

In a statement, the secretariat of Iran's Supreme National Security Council said war and military operations on all fronts, including Lebanon, would end permanently starting on Monday night.

Iran's deputy foreign minister, Kazem Gharibabadi, said a more expansive agreement would be negotiated during a 60-day ceasefire period, including sanctions relief for Iran.

The fate of Iran's nuclear program, another thorny issue, will also be addressed in those later talks, sources previously told Reuters.

There was no immediate reaction to the announcement from Israel, which has said it was not party to the US-Iran talks.

STRAIT TO REOPEN
Trump said the Strait of Hormuz, a major shipping route for global oil and gas supplies that Iran has effectively shut down for months, would open on Friday, and that he had ordered the end of the US blockade of Iranian ports.

"Ships of the World, start your engines. Let the oil flow!" Trump wrote.

Oil prices fell on the news. Brent crude futures fell 4% in early trading on Monday, while ​US ⁠West Texas Intermediate slid more than 4.6%. Stock markets in Asia jumped.

Former Biden administration State Department spokesperson Matthew Miller said Trump had made important concessions to Iran to achieve the status quo that existed before he launched the war.

"We have no assurances the nuclear program will ever be addressed, but Iran has shown the world it can take the global economy hostage and get something from the US in return," said Miller.

Thousands of people have been killed, mostly in Iran and Lebanon, since US and Israeli forces first attacked Iran on February 28. Iran has struck Israel and Gulf states hosting US bases and has effectively blockaded the Strait of Hormuz, pushing up global energy prices. US forces have blocked Iranian ports in response.

The Iran war has become a political liability at home for Trump and his fellow Republicans in Congress, with public opinion polls showing Americans deeply frustrated by rising gas prices ahead of November's midterm elections. But Trump has also faced pressure from members of his own party who insist that Iran's nuclear program must be completely shut down.

Republican Senator Lindsey Graham, a leading Iran hawk, praised the deal but said he would be "watching closely" the coming negotiations on Iran's nuclear program.

"Under our law, any nuclear deal with Iran will be sent to Congress for review and a vote," he said. "Congratulations to all in getting us to this point."

During his first term, Trump withdrew the US from a 2015 multilateral Iran deal, negotiated by Democratic President Barack Obama, that lifted sanctions on Tehran in exchange for limits on its nuclear program, including international inspections.

Iran responded by ramping up its enrichment of uranium, producing ​more than 400 kg (around 900 pounds) of material at close to bomb-grade purity. The eventual fate of that uranium is likely to be a key negotiating point during the upcoming talks.

'A VERY DIFFICULT GUY'
The agreement was sealed despite an Israeli strike on Lebanon on Sunday that drew criticism from both Iran and Trump.

Prime Minister Benjamin Netanyahu has differed with Trump over American demands that Israel curb its military action in Lebanon to allow the United States to reach a deal with Iran.

Israel has said it will retain freedom of operations in Lebanon, while Iran has made a full ceasefire there an important component of its demands.

Trump updated Netanyahu on the progress toward a peace deal during a phone call on Sunday, Israel's N12 reported, citing a senior official.

In an interview with the New York Times, Trump called Netanyahu "a very difficult guy" and argued the Israeli leader should thank him for saving Israel from a nuclear-armed Iran.

Leaders outside the Middle East, who have kept a wary eye on the conflict, welcomed the announcement.

In a joint statement, the United Kingdom, Germany, France and Italy said they were prepared to lift sanctions on Iran in response to "clear, verifiable steps" to limit its nuclear program.

"We are clear that ​toll-free freedom of navigation must now be restored in the Strait of Hormuz," British Prime Minister Keir Starmer said. "Iran must never have a nuclear weapon."

Before the deal was announced, a senior Iranian official told Reuters that, under the terms of the draft, the United States would agree to release $25 billion of frozen Iranian assets. The Trump administration has previously said any release of Iranian money would only take place once Iran has fulfilled certain conditions under a peace deal.

A US official, also speaking before the announcement, said the agreement would ultimately lead to the dismantling of Iran's nuclear program, with its stockpile of highly enriched uranium to be destroyed and removed. The senior Iranian official said the draft deal would allow Iran, which denies seeking a nuclear bomb, to dilute its enriched uranium inside the country.

The Chittagong Stock Exchange PLC (CSE) today (Sunday) welcomed the proposed national budget for fiscal year 2026-27, describing it as a timely and bold initiative aimed at economic recovery and building an inclusive economy.Global economy podcast

Speaking at a post-budget press conference held at its headquarters, CSE Chairman AKM Habibur Rahman said the historic inclusion of capital market strategies in the national budget reflected the government's growing recognition of the sector's role in economic development, BSS reports.

He praised the government's emphasis on modernizing market infrastructure and enhancing digital capacity, particularly the initiative to operationalize the country's first commodity exchange.

He said the CSE has already completed the necessary technological and regulatory preparations for launching the commodity exchange and stands ready to support the initiative.

It also welcomed measures aimed at diversifying financial products, including the introduction of Real Estate Investment Trusts (REITs), Exchange Traded Funds (ETFs) and index hedging instruments.

According to the CSE chairman, the exchange's Next Generation Trading System is fully prepared to accommodate these products, while the proposed transition of the settlement cycle from T+2 to T+0 would significantly improve market liquidity.

While expressing overall support for the proposed Tk 9.38 trillion budget presented by Finance Minister Amir Khosru Mahmud Chowdhury, the CSE put forward several recommendations to further accelerate capital market development.Market trend analysis

Among its key proposals, the exchange sought a five-year tax holiday for the commodity exchange segment, citing the substantial investment required to establish and operate a world-class commodities market.

The CSE also recommended increasing the tax rate gap between listed and non-listed companies from the proposed 7.5 percent to 10 percent to encourage more quality companies to enter the capital market.

To boost new listings, it proposed tax-free income facilities for newly listed companies during their first three years after listing.

In support of the government's digitalization agenda, the exchange suggested reducing withholding tax on technical services provided by non-residents from 20 percent to 10 percent and lowering VAT on software maintenance services from 15 percent to 5 percent.

The CSE further urged the government to retain the existing 20 percent tax rate on dividend income earned by institutional investors, arguing that removing the cap could negatively affect market growth.

Expressing concern over the withdrawal of tax exemptions for zero-coupon bonds, the exchange also called for a policy target to expand the corporate bond market to at least 2 percent of the country's GDP.Personal finance e-book

CSE Managing Director M Saifur Rahman Mazumdar said the proposed budget acknowledged the need to reduce excessive dependence on the banking sector and promote a balanced financial system where the capital market can play a greater role in financing long-term investments and infrastructure projects.

He reaffirmed the exchange's commitment to working closely with the government and regulators to develop a transparent, modern and internationally competitive capital market in Bangladesh.

The benchmark index of the Dhaka Stock Exchange (DSE) surpassed the 5,600-point threshold in the post-budget session on Sunday for the first time in nearly 10 months, as investors reacted positively to a series of budgetary measures.

Finance Minister Amir Khosru Mahmud Chowdhury proposed a range of policy measures aimed at reviving private-sector growth and promoting long-term capital market development, which gave a confidence boost to investors.

The market index tracked a firm upward trajectory from the outset of the session. As the session progressed, investor participation intensified, with buying interest remaining strong.

Eventually, the benchmark index of the DSE surged 105 points, or 1.90 per cent, to settle at 5,625, reflecting renewed investor confidence amid expectations of improved corporate profitability, enhanced market liquidity and stronger institutional participation.

Market analysts said the rally was driven by a combination of fiscal incentives, tax relief measures and regulatory reform initiatives aimed at deepening the capital market and attracting long-term investment.

Among the key proposals welcomed by investors are the conversion of tax deducted at source (TDS) into an advance tax mechanism, reductions in withholding taxes on several business inputs, simplification of listing procedures and measures to strengthen market governance.

Banks, telecom operators, pharmaceuticals, fuel distributors, power companies, electronics manufacturers and automobile producers are likely to emerge as the biggest beneficiaries of the proposed measures.

The budget also proposed allowing foreign investors to repatriate profits and transfer proceeds from shares purchased through non-resident investor taka accounts within one working day, a move to improve market participation by foreign investors and help deepen the market.

Akramul Alam, head of research at Royal Capital, said the overall budget framework is supportive of the capital market, although effective implementation and continued policy support are key for sustainable development of the capital market.

He added that expectations surrounding the newly formed securities commission's reform agenda also helped strengthen market sentiment, as investors anticipate greater transparency, fair pricing and stronger governance.

The market also received a boost from improving global sentiment following the announcement of a ceasefire in the Middle East. As global uncertainties seemed to wane, investors continued accumulation of beaten-down stocks.

In another development, Bangladesh Bank provided Tk 25 billion in special liquidity support to Islami Bank Bangladesh on Sunday to help the country's largest Shariah-based lender overcome an acute cash shortage.

Following the news, Islami Bank's stock jumped 9.97 per cent to Tk 32 per share on Sunday, after a sharp decline since the removal of the floor price. Islami Bank alone added 18.3 points to the prime index during the session.

The FY27 budget also proposed strengthening the capital market as an alternative financing source through simplification of listing procedures, development of alternative investment instruments, and gradual shortening of the trade settlement cycle.

According to EBL Securities, the market momentum remained upbeat, supported by expectations that budgetary measures would improve business confidence, stimulate investment and enhance corporate profitability.

Market stakeholders, including the Dhaka bourse, welcomed the proposed budget, saying the measures would help develop the country's capital market and create a more investment-friendly environment.

In a statement, DSE Chairman Mominul Islam said the proposed tax reliefs, market reforms and sector-specific incentives are expected to support corporate profitability, improve cash flows and encourage investment.

"These developments have generated renewed optimism among investors and market participants," he said, adding that the government's proactive approach towards capital market reforms has created fresh expectations for a more stable, transparent and vibrant market.

All but three blue-chip stocks posted gains on Sunday. The DS30 index, comprising blue-chip companies, jumped 47 points to 2,120, while the DSES index, which tracks Shariah-based stocks, rose 14 points to 1,129.

Market participation on the premier bourse remained robust, with total turnover standing at Tk 13.58 billion, a 10 per cent increase over the previous session, as buying interest spread across banking, financial, engineering and pharmaceutical stocks.

Gainers strongly outnumbered losers. Of the 392 issues traded on the DSE, 246 advanced, 96 declined and 50 remained unchanged.

Major sectors posted gains. Non-bank financial institutions led the gains with a 4.4 per cent rise, followed by banking, power, food, pharma, engineering and telecom.

The Chittagong Stock Exchange (CSE) also ended higher. Its All Share Price Index (CASPI) rose 147 points to 15,343, while the Selective Categories Index (CSCX) jumped 91 points to 9,411.

The government has decided to establish Export Processing Zones (EPZs) in Barishal and Lalmonirhat to attract foreign investment, increase exports, and create employment opportunities.
FE

The Cabinet Division has already sent letters to the Secretary of the Prime Minister’s Office and other relevant authorities to begin implementing the EPZ projects.

During the DC Conference held in May, several DCs highlighted the need for new EPZs and economic zones.

The concerned DCs have been instructed to submit progress reports on the implementation of these plans to the Cabinet Division.

These directives were outlined in a letter sent by the Cabinet Division to the Prime Minister’s Office and relevant authorities.

Officials from the Cabinet Division told state-owned BSS that, out of approximately 1,729 proposals received from various districts, feasible proposals were selected and presented to the Prime Minister and relevant stakeholders after several rounds of meetings with ministries and implementing agencies.

The Prime Minister’s Office has decided to implement six key decisions in three phases: short-term (within one year), medium-term (within three years), and long-term (within five years).

Among these decisions are the establishment of EPZs in Barishal and Lalmonirhat and economic zones in Gazipur, Barguna, and Pirojpur.

Bangladesh currently has eight government-owned EPZs under the Bangladesh Export Processing Zones Authority (BEPZA): Dhaka, Chattogram, Mongla, Cumilla, Ishwardi, Karnaphuli, Adamjee, and Uttara EPZs. Bangladesh economic report

The primary purpose of EPZs is to facilitate the duty-free import of raw materials and the direct export of manufactured goods.

Mohammad Khorshed Alam Khan, a Joint Secretary of the Cabinet Division, told BSS that numerous proposals are submitted each year during the DC Conference, and the government adopts short, medium-, and long-term plans based on priority.

He said that work has already begun on implementing several important decisions this year and that letters have been sent to the relevant ministries.

In the presence of the Prime Minister, ministers, secretaries, and implementing authorities, the Gazipur DC proposed establishing an economic zone to relocate industries to a designated area.

The proposal argued that planned industrialisation would reduce waste and environmental pollution, protect agricultural land, increase domestic and foreign investment, and provide entrepreneurs with easier access to industrial sites.

The Barishal DC proposed establishing an EPZ in Barishal, arguing that it would create employment opportunities locally, reduce migration to Dhaka and Chattogram for work, lower poverty, improve living standards, and benefit from direct road connectivity with Dhaka and proximity to Payra Port.

The Barguna DC proposed an economic zone in the coastal district, noting that its location near Payra Port could make it a strategic centre for international trade.

The proposal also highlighted the potential for marine resource processing and preservation, along with integrated development of the fisheries, agriculture, industry, and tourism sectors.

The Pirojpur DC proposed establishing an economic zone in Pirojpur Sadar Upazila, citing the district’s strong road links with Dhaka, Khulna, and Barishal, as well as waterway connections to Chattogram, Mongla, and Payra seaports.

These links would facilitate the transportation of raw materials and finished products.

The proposal further argued that easy access to raw materials and labour would attract domestic and foreign investment, create jobs through agriculture-and fisheries-based industries, and enable exports after meeting domestic demand.

The Lalmonirhat DC proposed an EPZ, arguing that it would generate industrial and employment opportunities, reduce poverty, improve living standards, and support agro-based industries due to the abundance of rice, potatoes, maize, and other crops.

The presence of Burimari Land Port and Bangladesh Railway facilities would also simplify imports and exports.

Md. Mamun, Deputy Secretary of the Field Administration Wing of the Cabinet Division, told BSS that BG Press is preparing a publication containing the development initiatives discussed during the DC Conference. Copies will be distributed to relevant stakeholders.

He added that all ministry secretaries have been informed of their responsibilities and instructed to submit monthly implementation progress reports to the Cabinet Division by the 10th of each month.

Meanwhile, Prime Minister Tarique Rahman discussed the government’s plans to restore economic discipline and attract foreign investment during a parliamentary session.

Responding to a written question from Cumilla-10 lawmaker, Md Mobashwer Alam Bhuiyan, the Prime Minister, said there is no alternative to restoring economic discipline if the country is to achieve sustainable development.

As part of this effort, the government has taken several groundbreaking measures through the Ministry of Commerce and other relevant agencies to simplify investment procedures and attract both domestic and foreign investors.

He said that the country’s Export Policy has already been updated and that work is underway to revise the Import Policy Order 2026–2029 to facilitate easier market access for foreign investors.
Highlighting a major structural reform initiative aimed at reducing institutional complexities and improving service delivery, the Prime Minister said the government has taken steps to integrate the Bangladesh Investment Development Authority (BIDA), Bangladesh Economic Zones Authority (BEZA), Public-Private Partnership Authority (PPPA), and Bangladesh Hi-Tech Park Authority into a unified framework to enhance efficiency and reduce bureaucratic delays.

Bangladesh Bank has removed Islami Bank's entire board of directors, including the chairman.

Mohammad Shahriar Siddiqui, assistant spokesperson and director of the central bank, confirmed the development.

He said the decision was taken today (14 June) under the Bank Company Act, 1991.

In a statement, the central bank said the board, including the chairman, was dissolved in the interest of depositors and the public.

It also added that, under Section 47(3) of the Bank Company Act, 1991, Bangladesh Bank Executive Director Mohammad Zahir Hussain has been assigned to exercise all powers and perform the responsibilities of the board.

Mohammed Nader Khan, a sponsor and former chairman of Prime Bank PLC, has announced plans to sell 1.02 crore shares of the bank through the block market, according to a disclosure published on the stock exchanges today (14 June).

The shares are valued at approximately Tk30.54 crore based on today's closing price of Tk30 per share.

Nader Khan currently holds 4.40 crore shares, representing a 3.61% stake in the bank.

The proposed sale accounts for around 23% of his existing holdings.

According to the disclosure, the shares will be sold through the block market of the Dhaka Stock Exchange within the next 30 working days.

A block trade refers to a large, privately negotiated transaction of securities.

Following the sale, he will retain 3.38 crore shares in the bank, maintaining a significant ownership position.

Meanwhile, Prime Bank reported strong financial results for 2025, posting a consolidated net profit of Tk910 crore, up 24% from Tk732 crore in the previous year.

The bank's earnings per share rose to Tk7.84 in 2025 from Tk6.31 a year earlier, reflecting improved profitability.

The bank also maintained a solid financial position during the year.

Its net asset value per share stood at Tk40, while net operating cash flow per share reached Tk58.07, indicating strong liquidity and operational performance.

Total assets increased to Tk64,890 crore as of December 2025, underscoring continued business expansion.

The bank's Capital to Risk Weighted Assets Ratio stood at 18.07%, among the highest in Bangladesh's banking sector.

The bank's board approved a 30% dividend for 2025, comprising 25% cash and 5% stock dividends.

Shareholders approved the payout at the annual general meeting held on 21 May.

Bangladesh's gross foreign exchange (forex) reserves climbed to US$35.63 billion on Sunday after the country received more than $1.0 billion in budget support from the Asian Development Bank (ADB).Regional business directory

The country's gross foreign exchange reserves rose to $35.63 billion on Sunday from $34.73 billion on June 10 following the disbursement of ADB budget support funds, officials said.

According to the latest data from the Bangladesh Bank (BB), reserves measured under the International Monetary Fund's (IMF) Balance of Payments and International Investment Position Manual, Sixth Edition (BPM6), increased to $31.07 billion from $30.08 billion during the same period.

"We are now capable of meeting around six months' worth of import payment obligations with the existing reserves," a senior Bangladesh Bank official told The Financial Express (FE).

Bangladesh's actual imports, measured by the settlement of letters of credit (LCs), declined by 4.14 per cent to $50.43 billion during the July-March period of fiscal year (FY) 2025-26, compared with $52.61 billion in the corresponding period of the previous fiscal year.

Meanwhile, the opening of fresh LCs, commonly known as import orders, rose marginally by 0.35 per cent to $53.94 billion during the period under review, up from $53.75 billion a year earlier.

The central bank official said the country's gross forex reserves could exceed $36 billion by the end of June if the government receives additional external financing.

Earlier, on May 10, the gross forex reserves fell to $34.14 billion after Bangladesh settled $1.51 billion in import payment liabilities to member countries of the Asian Clearing Union (ACU).Personal finance e-book

Bangladesh Bank officials said stronger remittance inflows and lower import payment obligations have also helped improve the country's reserve position in recent months.

The central bank's purchase of US dollars from commercial banks has further supported reserve growth, according to officials.

Bangladesh Bank has bought a total of $6.42 billion from commercial banks since July 13 last year under the prevailing market-based, free-floating exchange rate regime, BB data showed.

High oil and gasoline prices and energy supply problems will not be solved overnight, despite an agreement to end the Iran war and open the Strait of Hormuz announced Sunday (14 June).

It will likely take months before energy companies can resume operations to the point of meeting the world's demand, according to energy experts.

The slow pace of the process of shipping and refining crude oil and doubts about the security of travelling through the strait mean the effect will not be seen immediately, they said.

Ships loaded with crude oil have been stranded in the Persian Gulf for more than three months, unable to safely travel through the waterway, through which about a fifth of the world's oil and gasoline supplies typically travelled before the war began.

"It's going to take time for people to feel comfortable and for insurance to be in place... particularly to get people on the ground to restart some of these assets," said Daniel Evans, global head of fuels and refining research at S&P Global Energy.

First, ships that have been stranded will have to exit the strait and then new tankers will have to come in to be loaded, Evans said.

"To bring a ship in, you need to be confident that you've got a big enough window of safety to bring it in, load it and move it out," he added.

Oil tankers also move slowly, he explained. It takes months to travel from the strait to distant countries, deliver the crude oil to a refinery for processing and then arrive at its final destination.

Bangladesh is set to receive 40 megawatts of electricity from Nepal via India for five months, starting from 15 June to November, under a tripartite agreement signed between Bangladesh, Nepal and India on 3 October, 2024.

Though it is symbolic given the demands that Bangladesh has now, both sides see potential to increase in the future, officials told UNB.

Nepal's hydropower potential and the increasing energy needs of Bangladesh provide ample opportunities to enhance energy cooperation between the countries.In the first ten months of the current fiscal, Nepal exported electricity worth almost Rs21 billion (about Tk25.6 billion) to India and Bangladesh. Last year, the number stood at above Rs13 billion.

Bangladesh and Nepal signed a Memorandum of Understanding (MoU) on Cooperation in the Field of Power Sector on 10 August 2018.

Under this MoU, a Joint Steering Committee (JSC) at the energy/power secretary level and a Joint Working Group (JWG) at the joint secretary level were established to facilitate collaboration and advance initiatives in the power sector.

The 7th meetings of JSC and JWG on Nepal-Bangladesh Cooperation in Power Sector were held in Dhaka on 26-27 November 2025.A tripartite Power Sales Agreement (PSA) to export 40 MW of electricity from Nepal to Bangladesh was signed on 3 October 2024 between the Nepal Electricity Authority (NEA), the Bangladesh Power Development Board (BPDB), and NTPC Vidyut Vyapar Nigam Ltd. (NVVN) of India.

The agreement came into fruition with the commencement of the export of 40 MW of electricity from Nepal to Bangladesh on 15 November 2024.As per the Agreement, Nepal has been exporting 40 MW of electricity to Bangladesh each year from 15 June to 15 November.

Negotiations are also underway regarding the 683 MW Sunkoshi III hydropower project on a joint venture basis.Bangladesh highlighted its commitment to working on long-term plans to ensure strategic partnerships and said that increasing trade volume between the two countries would be mutually beneficial.

Trading in Shyampur Sugar Mills resumed on the Dhaka Stock Exchange today (14 June) after a one-day suspension imposed over an unusual surge in the company's share price, with the stock falling 8.75% to Tk218 following the reopening.

The DSE had suspended trading in the company's shares on Thursday, citing its regulatory authority to intervene in cases of abnormal price movements or suspicious trading activity in order to protect investors and ensure fair price discovery.

The exchange said the suspension was necessary because the recent rally in Shyampur Sugar's share price was not aligned with the company's financial and operational condition and warranted further examination for possible market manipulation or undisclosed price-sensitive information.

Market participants also noted that the sharp increase in the share price was inconsistent with the company's underlying fundamentals. According to market data, Shyampur Sugar Mills has remained completely inactive in sugar production since fiscal 2020-21 because of prolonged losses and outdated machinery.

The DSE said its principal objective was to ensure equal access to information for all investors and maintain orderly market conditions.

Under stock exchange regulations, trading can be suspended if listed companies fail to comply with reporting requirements, violate corporate governance rules, or fail to disclose material information, including operational shutdowns, loan defaults, or significant legal issues.

Brokerage firms, however, argue that while monitoring unusual price movements is necessary, suspending an entire stock may not always be the most effective approach. They suggest that regulators should instead focus on identifying suspicious Beneficial Owner (BO) accounts involved in potential manipulation.

The DSE said the company has been asked to provide explanations and supporting documents for the unusual price movement. A final decision on future trading will be made based on the company's response and the outcome of the investigation.

Overall, the case highlights the regulator's efforts to maintain market transparency and protect investors, even as such actions temporarily affect trading sentiment.

The dollar steadied on Friday but remained on track for a weekly loss, as markets monitored negotiations over a deal that could end the Middle East conflict. Traders were also digesting unprecedented demand for shares in SpaceX, which raised $75 billion in an initial public offering and jumped about 20 percent in its Nasdaq debut.

The euro was little changed at $1.15725, hovering near a one-week high and set for a weekly gain after the European Central Bank delivered its first interest rate hike in three years on Thursday.

Leaked terms of a proposed memorandum to end the war in the Gulf, outlined by Western, Pakistani and Iranian sources on Friday, appeared to favor Iran, drawing criticism from US President Donald Trump who called the reports inaccurate. Trump’s announcement on Thursday regarding a deal had prompted Wall Street shares to rally, oil prices to slip and the US dollar to fall.

Markets are pausing as they assess the prospects for peace and the impact of the SpaceX IPO, with investors watching whether funds will shift from equities or cash, said John Velis, FX and macro strategist at BNY.

“The hoped-for good news on the ceasefire in the Middle East had a big reaction overnight and I think we came in this morning and we have the SpaceX IPO and a bunch of central bank meetings next week,” Velis said.

The US dollar was up 0.18 percent against Japan’s currency at 160.225 yen, holding near a key level that often triggers concern about intervention from Tokyo.

The pound was steady at $1.34145. Data showing the UK economy contracted in April had little impact, with markets focused on Iran talks.

The US dollar index, which measures the greenback against a basket of six currencies, was flat at 99.75 after hitting a one-week low on Thursday. Investors have tended to buy the safe-haven dollar when tensions in the Iran war flare, and sell it in favor of riskier assets such as stocks when peace talks appear to make progress.

Economists and business leaders have said the proposed budget, while compassionate and business-friendly, faces implementation risks due to ambitious macroeconomic targets, policy uncertainty and limited execution capacity.Entrepreneurship resources

The observations were made at a discussion titled “The Finance Bill 2026 Unveiled” organised by SMAC Advisory Services Ltd at Gulshan Club in Dhaka on Sunday evening.

Policy Exchange Bangladesh founder and CEO Dr. Masrur Reaz said the budget reflects a “green signal” in the current economic context, indicating a broadly supportive and accommodative stance.

“This is a compassionate budget. It has tried to support people and businesses. No major new burdens have been imposed,” he said.

He noted that the budget has attempted to ease pressure on households and businesses through tax measures and policy adjustments, offering some relief amid prolonged economic stress.

Dr. Reaz also described the budget’s policy direction as a “yellow signal,” saying it sends positive messages to investors, although concerns remain over execution and realism of targets.

He said a budget typically performs three key functions—tax and rate adjustments, allocation of public expenditure, and policy signalling.

“We usually expect the budget to solve everything, but in reality, it can only perform these three roles,” he added.Personal finance e-book

Meanwhile, Foreign Investors' Chamber Of Commerce & Industry (FICCI) President Rupali Chowdhury said listed companies and most industries are already paying multiple layers of taxes and duties depending on their business structure.

She said, “If both revenue and expenditure keep rising, the budget ultimately becomes expenditure-driven.”

She stressed that policy consistency and predictability are essential for business confidence, warning that frequent changes in corporate taxation create uncertainty.

Highlighting investment challenges, she said Bangladesh is competing with countries such as Vietnam, Indonesia and Malaysia for foreign direct investment, making policy efficiency and implementation capacity critical.

She also pointed to long-standing structural bottlenecks, including the lack of an effective one-stop service for investors, bureaucratic procedures across ministries, and infrastructure constraints.

“Our goal should be higher FDI, more employment, and ultimately higher tax revenue. But that requires transparency, accountability and a level playing field,” she said.Bangladesh economic report

She warned that unless structural weaknesses are addressed, economic pressures could intensify, with the tax burden increasingly shifting to compliant taxpayers.

The event was moderated by SMAC Advisory Services Ltd partner Snehasish Barua.

Among others, NBR First Secretary (Customs Policy Wing) Md. Tarique Hassan, Second Secretary (VAT Policy) Bodruzzaman Munshi, and Joint Commissioner of Taxes Bapon Chandra Das also attended the discussion.

Despite pledging to strengthen the bond market and expand alternative sources of financing beyond the banking sector, the BNP government has proposed imposing tax on income earned from zero-coupon bonds in the budget for the 2026-27 fiscal year.Market trend analysis

Since taking charge of the finance and planning ministries for the first time under the BNP government, Amir Khosru Mahmud Chowdhury has repeatedly stressed the need to revitalise the capital market and deepen the bond market.

In his budget speech on Thursday, he also announced plans to introduce new bond instruments.

However, the Finance Bill for the next fiscal year proposes withdrawing a tax exemption that individual taxpayers have enjoyed on income from zero-coupon bonds for nearly two decades.

To facilitate the change, the government has proposed amending the 6th Schedule of the Income Tax Act 2023.

Investors do not pay any tax on income generated from zero-coupon bonds at the moment.

According to the schedule, any income earned from zero-coupon bonds by individuals—excluding banks, insurers and other financial institutions—is deducted from total taxable income and therefore remains tax-free.

The exemption applies to bonds issued through a bank, insurance company or financial institution with prior approval from Bangladesh Bank or the Bangladesh Securities and Exchange Commission (BSEC).Personal finance e-book

Individual taxpayers also receive the same benefit when such bonds are issued by non-financial institutions, provided they have obtained prior approval from Bangladesh Bank or the BSEC.

The Finance Bill 2026 proposes abolishing this provision.

A zero-coupon bond is a debt instrument that does not pay periodic interest.

Instead, it is sold at a discount to its face value and redeemed at full value upon maturity.

The difference between the purchase price and the redemption value constitutes the investor’s profit.

The tax exemption was introduced in the Finance Act for FY2007-08 and took effect on Jul 1, 2007.

According to BSEC’s annual report, 11 companies raised Tk 66.75 billion through zero-coupon bond issuances in FY2023-24. In FY2024-25, one company raised Tk 1.71 billion through such bonds.

In March, City Sugar Industries, part of leading conglomerate City Group, received approval to raise Tk 13 billion through a bond issue to repay liabilities and invest in the sugar sector.

Akij Food and Beverage was also cleared to raise Tk 5 billion through zero-coupon bonds.

The government has identified persistent inflation as the country's most pressing economic challenge, pledging a combination of fiscal and monetary measures to bring price pressures under control and ease the burden on households in the next fiscal year (FY 2026-27).

The national budget has identified high inflationary pressure as the "most urgent economic challenge", with 12-month average inflation climbing to 8.63 per cent during the period from June 2025 to May 2026.

Amid sustained price pressures, the government aims to reduce average inflation to 7.5 per cent in fiscal year (FY) 2026-27 through a range of budgetary and monetary measures.

"Curbing high inflation remains our most urgent macroeconomic challenge," Finance and Planning Minister Amir Khosru Mahmud Chowdhury said in his budget speech.

SpaceX jumped 23% in its Nasdaq debut on Friday, as investors piled in to the world's largest ​IPO and bet on Elon Musk's sprawling empire spanning rockets, internet service and AI.

The stock was last trading at $166 a share after opening for trading at $150, making SpaceX ‌the sixth-largest US company, with a market value above $2 trillion.

The company's debut is widely viewed as a dress rehearsal for a new generation of mega-listings, with market participants watching for signals on investor appetite ahead of forthcoming IPOs for AI heavyweights Anthropic and OpenAI.

SpaceX's stock performance was being closely scrutinized in part because some bankers said the IPO market could face difficulties if SpaceX shares close below Thursday's pricing level of $135 a share.

The landmark listing cemented Musk's status as ​the first trillionaire ever - even though the firm posted a loss of nearly $5 billion last year and generated only a fraction of the revenue brought in by similarly valued tech ​giants.

"Elon deserves an extreme premium because of his track record and his vision for calling technology trends early," said Shaun Maguire, a Sequoia Capital partner ⁠who led the firm's investment in SpaceX. At the IPO price its $2 billion investment would be worth over $20 billion, a person familiar with the matter told Reuters.

SpaceX President Gwynne Shotwell and Chief ​Financial Officer Bret Johnsen rang the Nasdaq opening bell earlier on Friday.

World's largest IPO

The IPO is a culmination of Musk's long-held ambitions in space and technology, and has stood out for rewriting Wall Street's IPO ​playbook and drawing legions of retail investors into the market.

At $75 billion, the deal's proceeds were more than double those of Saudi Aramco's record-setting 2019 IPO.

The valuation could rise further should underwriters exercise their right to sell additional shares, a decision typically made within 30 days after the offering.

Although SpaceX may have to wait for entry into the S&P 500, its expected fast-track inclusion in the Nasdaq 100 will soon make it a major holding for passive funds ​and ETFs that track the index, creating a fresh source of demand for its shares.

"We have to go back 100 years to get comparable entrepreneurs. He's a visionary unlike others, and he executes ​extremely well," said Joel Shulman, CEO of ERShares, which manages an ETF that has an exposure to SpaceX.

It will take about a month before it gets added to that index under Nasdaq's new fast-entry rules, as ‌opposed to a ⁠typical wait of as much as a year.

Some analysts expect SpaceX's debut to trigger a reshuffling of investor portfolios, creating selling pressure on other technology heavyweights as funds rotate into the stock. On Friday, shares of other space firms and satellite companies declined sharply, reversing gains spurred by SpaceX's April IPO filing, with Planet Labs down 8% and EchoStar down 14%.

A $28.5 trillion market opportunity

For all the excitement surrounding the IPO, determining what SpaceX is actually worth remains a difficult valuation exercise.

SpaceX said its market opportunity spans $28.5 trillion, a figure it called the largest in human history. With its leading position in space - ​the firm says its operation is responsible for ​more than four-fifths of the mass launched into ⁠orbit over the past three years - and revenues from Starlink, some investors said it has a strong foundation upon which to build.

John Belton, portfolio manager at Gabelli Funds, said the best comparable to SpaceX is Musk's electric vehicle company Tesla, as each has an established business and "a moonshot opportunity on ​the other side."

"For Tesla, that's things like humanoid robotics and other future applications. For SpaceX, it's the AI business," he said.

With revenue of $18.7 ​billion in 2025, the company's ⁠market cap puts its price-to-revenue ratio at a lofty 94. Some analysts have already issued positive ratings on the company. Morningstar analysts this month said it is more fairly valued at around $780 billion, and CFRA on Friday started coverage with a sell rating.

"This is not a name you're buying based on fundamentals. For me, the analogy is Amazon. This was a company that changed the way we live," said Nancy Tengler, CEO ⁠and CIO ​of Laffer Tengler Investments. "If the stock drops to $100, that's not ideal, but it wouldn't change our long-term view. We want ​to participate."

Bangladesh may need two years to take off from the present miasma and make the economy get full stability and prosperity, says Finance Minister Amir Khosru Mahmud Chowdhury.

"The country's economy will need two years from where it stands now. After that, the economy will stabilise and fully turn around in the fourth and fifth years."

He came up with the optimism a day after presenting in parliament an upscale Tk 9.38-trillion national budget replete in projected upgraded macroeconomic parameters and a wide recipe of reforms to get to the goal.

At a post-budget press conference held Friday in Dhaka, the finance and planning minister highlighted government intent to reform the country's public-finance architecture and explore alternative sources of funding to lower borrowing from banking sector.

"This year we have reduced bank borrowing by Tk 60 billion, and once the new public finance is fully designed, alterative sources will have significant contributions to the funding," he told journalists.

The minister in his budget speech Thursday said that Tk 1.12 trillion (net) will be borrowed from the banking system, down by Tk 60 billion from the revised budget of the current year (2025-26)Regional business directory

He notes that the proposed budget for fiscal year 2026-27 has been designed as an inclusive one aimed at bringing all sections of society into the economic mainstream.

"No class, profession, religion or caste is outside the scope of the budget this time," he told the press about the maiden budget of the Tarique Rahman-headed government that assumed office amid uprising-spurred popular aspirations for sociopolitical and economic recast.

Mr. Khosru says preparing the budget has been particularly challenging because of severe time constraints and resource constrains.

"Normally, the budget-preparation process takes at least six months. We had only one and a half to two months. Despite that, we completed the task with the cooperation of all concerned, including the journalists."

He notes that this budget has been prepared in a fundamentally different political and economic environment. "By budget, we basically mean a reflection of the will of the people."

The minister says the new government's objective is to build a more people-oriented economy rather than one benefiting only a limited group of individuals or businesses.Global economy podcast

He claims the budget includes targeted allocations, programmes and implementation plans for different social and professional groups despite resource constraints.

Mr Khosru also highlights shifts in the global economic landscape, saying that the world is gradually moving away from a rules-based system towards greater protectionism. "This year's budget has been formulated keeping those global changes in mind."

Responding to questions on inflation, the finance minister said effective policies, improved management and lower business costs would be more effective than administrative crackdowns in controlling prices.

"There is no alternative to strengthening the supply system, reducing inefficiencies and implementing reforms."

He links the recent inflationary pressures to a combination of international and domestic factors, including global conflicts, higher import prices, shortages of capital in the banking sector and money laundering which have increased the cost of funds.

"High borrowing costs, port inefficiencies and logistical expenses continue to raise the cost of doing business," he told the journalistsPersonal finance e-book

"It can take six months to a year to establish a company or obtain the necessary approvals. Businesses ultimately pass those costs on to consumers," he further explains the price hikers.

The government has already initiated regulatory reforms aimed at lowering business costs and improving efficiency.

Mr Khosru stresses the importance of maintaining an efficient supply chain and building strategic reserves of key commodities.

Long-term planning and stronger buffer stocks for fuel, food and fertiliser are underscored and that Bangladesh should maintain at least three months' energy reserves to strengthen energy security.

In the past, he says, excessive reliance on spot purchases often left the country exposed to volatile prices.

"With long-term planning, adequate storage facilities and strategic stocks, costs can be reduced substantially."

The minister announces plans for deregulation, overseen by a high-powered taskforce.Politics

"A dedicated online platform will allow businesses and citizens to report licensing and regulatory obstacles, enabling authorities to respond quickly."

The custodian of exchequer had a word on corruption, an incendiary issue in all quarters. He thinks implementing new pay scale for the government officials and employees could help reduce incentives for corrupt practices.

"When people face shortages, there is naturally a tendency to resort to corruption. There is no point in denying this reality."

The finance minister says pressure on living standards, particularly among low-income households, has prompted the government to allocate the largest-ever amount for social protection and welfare programmes.

Significant resources have been earmarked for family-support schemes, agriculture, universal healthcare and primary healthcare services.

He mentions that employment generation and skills development remain central priorities of the budget.Entrepreneurship resources

Major investments are being planned in education, technical training and vocational programmes to help workers secure higher-paying jobs both at home and abroad.

To support the rural economy, the government plans to provide financing, training, design support, and market access to traditional occupations under a new "Creative Economy" initiative.

This administration places greater emphasis on employment creation and quality-of-life improvements rather than pursuing large-scale megaprojects.

"Value for money and employment generation are being considered in every project," he says.

A major component of the government's strategy involves developing Bangladesh's creative economy as a new growth driver.

Mr. Khosru mentions plans for an integrated creative centre on 160 acres in Purbachal, bringing together theatre, arts, design, entertainment and cultural activities.

The project aims to create jobs, attract visitors and transform culture into an economically productive sector.Regional business directory

"We have to monetise creativity."

The government is launching an investment programme worth around Tk 8.0 billion to support the initiative.

The minister argues that Bangladesh possesses significant cultural assets, including music, folk traditions and performing arts, but has yet to commercialise them effectively.

He points to the global success of Korean music and drama industries as examples of how cultural products can generate export earnings and international influence.

Thousands of artists, musicians, actors and other creative professionals currently lack sufficient income opportunities, he says, adding that the new programme would help create sustainable livelihoods.

Responding to questions about tourism, Mr. Khosru said domestic tourism offers substantial untapped potential.

While foreign tourist arrivals remain limited, he argues that stronger entertainment and tourism infrastructure could stimulate economic activity and improve quality of life.Personal finance e-book

"Bangladesh is also lagging behind in soft power," he says. "Our goal is to create opportunities through culture and entertainment that generate employment, support growth and strengthen the country's global presence."

Present at the news conference were Power, Energy and Mineral Resources Minister Iqbal Hassan Mahmud Tuku, Information and Broadcasting Minister Zahir Uddin Swapan, Education Minister Dr. ANM Ehsanul Haque Milon, Agriculture, Fisheries and Water Resources Minister Mohammad Amin Ur Rashid, Health Minister Sardar Mohammad Sakhawat Hossain and State Minister for Finance and Planning Jonayed Saki.

Also present were Prime Minister's Adviser Mahdi Amin, Posts, Telecommunications and Information Technology Adviser Rehan Asif Asad, Cabinet Secretary Dr. Nasimul Ghani, Bangladesh Bank Governor Md. Mostaqur Rahman, National Board of Revenue (NBR) Chairman Md. Abdur Rahman Khan and Prime Minister's Special Assistant on Investment and Capital Market Tanvir Ghani.

The first-ever international agreement on safeguarding digital platform workers in the gig economy was adopted on Friday at the UN’s International Labour Organization.

The Decent Work in the Platform Economy Convention is aimed at extending labour protections to hundreds of millions of people worldwide who work through digital platforms, in areas like food delivery and car services.The convention applies to “all digital labour platforms” and “all digital platform workers... whether they are in the formal or informal economy”, according to the text adopted by ILO members.

Until now, labour practices have struggled to keep pace with the dramatic shifts in the way people work.

The World Bank estimated in 2023 there were up to 435 million online gig workers around the globe who had largely fallen outside regular labour protections.

Companies behind the apps control the gig work via algorithms that assign tasks, set pay, evaluate performance and even fire workers.

Despite largely controlling the tasks and pay, the platforms typically classify the workers as independent contractors rather than employees.

This allows them in many cases to ignore things like minimum wage requirements, workplace safety and access to social security.

“The ILO now has the first convention that focuses on the impact of digitalisation in the world of work,” said the UN labour agency’s chief Gilbert Houngbo.

“This convention seeks to bring about tangible improvements in the lives of millions of workers around the world,” Brazil’s representative said at the adoption. In Brazil, “around two million workers will see their opportunities, dignity and autonomy strengthened by this convention”, she added.

Other countries, such as India, Bangladesh and the United States felt that the convention should be applied flexibly, depending on national contexts.

“We continue to urge extreme caution with respect to prescriptive binding regulations in fast-evolving areas of the economy,” said the US representative Lorenzo Riboni.

Independent contractors control their own work and “lean into an entrepreneurial spirit that makes America great”, he said.

The International Trade Union Confederation said the convention would help ensure that millions of platform workers can enjoy the rights, protections and dignity that all workers merit.

“This convention represents a major step forward,” the ITUC’s political director Jeroen Beirnaert told AFP.

He underlined, however, that the convention allows countries “to provide for certain limited exclusions from its scope”.

Therefore, “there is a risk that certain categories of workers will be excluded”, he said, but countries that choose to apply such exclusions would have to justify them.

The ITUC urged governments to ratify the convention quickly, saying the future of work had to be built on rights rather than precariousness.

The convention comes into force in member states 12 months after they ratify it, so long as two countries have ratified the text.

PAY AND SOCIAL SECURITY

Among other things, the convention calls on countries to ensure that gig workers are guaranteed fair pay and access to social security protections “on terms no less favourable than those applicable to other workers with the same classification of status in employment”.

Countries should also ensure that digital labour platforms provide workers with “timely, verifiable and easily understandable information on the terms and conditions of their employment or engagement”.

“Platform companies have built a business model that sidesteps labour protections and shifts risks and costs onto the workers,” said Human Rights Watch’s senior economic justice advisor Lena Simet.

The convention marks “a turning point for platform workers”, setting “the first global standard to protect their rights and hold digital labour platforms accountable”, she said.

The convention was adopted at the 114th annual International Labour Conference in Geneva.

The ILO is unique in the United Nations system in that its 187 member states are equally represented by governments, employers and workers.

The government may reconsider its proposal to make a taxpayer identification number (TIN) mandatory for opening bank accounts, following concerns that the move could create barriers for ordinary citizens and low-income workers and undermine financial inclusion.
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The measure, included in the FY27 budget, was aimed at widening the tax net.

Students, recipients of government allowances, and individuals or organisations exempted through official gazette notifications would remain outside the requirement.

Speaking to The Financial Express on Friday, National Board of Revenue (NBR) Chairman Md Abdur Rahman Khan said the government might review the proposal requiring individuals to submit a TIN certificate to open a bank account.

Tax experts and bankers warn that making TIN mandatory could discourage middle-, lower-middle-, and low-income people from entering the formal banking system, potentially pushing more economic activities into the informal sector.

Snehasish Barua, a chartered accountant and a director of SMAC Advisory Ltd, says forcing people to obtain an electronic TIN (e-TIN) solely to open a bank account would be a risky policy move.

"Bangladesh's economy still relies heavily on cash transactions. Such a requirement could undermine years of efforts to bring ordinary citizens and small businesses into the formal banking system," he tells The Financial Express.

"Rather than boosting tax collection, it could drive entrepreneurs and small businesses into the untaxed shadow economy. Reduced bank usage could also lower deposits and strain financial sector liquidity," he adds.

In his budget speech on Thursday, Finance Minister Amir Khosru Mahmud Chowdhury proposed making TIN certificates mandatory for opening bank accounts, except for student accounts, no-frills accounts, and those exempted by gazette notifications.

The proposal has drawn criticism at a time when the government is promoting digital payments, financial inclusion, and a cashless economy.

Critics say additional compliance requirements could discourage unbanked and low-income individuals from entering the formal financial system.

Industry insiders note that many banks, particularly in Dhaka and other major cities, have long encouraged customers to obtain TIN and sometimes facilitated registrations on their behalf.

As a result, some individuals later found TIN had already been issued in their names when they attempted to register independently.

Bankers say these practices were often linked to loan-processing requirements, where proof of tax return submission is needed.Regional business directory

However, TIN has never been mandatory solely for opening a bank account.

Meanwhile, the NBR is pressing ahead with plans to integrate its database with banks and other institutions to strengthen tax compliance and information sharing.

The proposed budget envisages online connectivity between the NBR and the National Identity Card (NID) system, banks, utility service providers, sub-registrar offices, and other agencies.

"Through central data integration, the NBR's database will be connected with the NID system, banks, utility services, sub-registrar offices, and other institutions to facilitate the exchange of information," the finance minister said.

The government has announced a wide-ranging deregulation programme aimed at cutting red tape, lowering compliance costs and improving Bangladesh’s business climate as the country prepares for graduation from least-developed country (LDC) status.

The reform package, unveiled in the budget speech of Finance Minister Amir Khosru Mahmud Chowdhury on Thursday, covers investment approvals, company registration, taxation, customs, banking, capital markets and construction permits.

Businesses have long complained about lengthy approval processes, overlapping regulations and cumbersome compliance requirements that delay investment decisions and raise operating costs.

SEVEN-DAY DEADLINE FOR APPROVALS

A key feature of the reform package is the introduction of strict timelines for government approvals and licences.

The government plans to make the online Single Window platform mandatory for business approvals and licensing. From application submission to licence issuance, all procedures will have to be completed within seven days.

If a government agency fails to provide a required opinion, clearance or no-objection certificate within the stipulated period, the application may be processed on the assumption that consent has been granted, where applicable.

Authorities also plan to introduce “plug-and-play” facilities in selected industrial and economic zones, allowing investors to set up factories and begin production more quickly.

FASTER BUSINESS START-UP SERVICES

The government intends to simplify company registration by moving name clearance, application submission, fee payments and certificate issuance online. Company registration is expected to be completed within 48 hours.

Small and new businesses may be allowed to start operations with provisional approvals and complete remaining compliance requirements within six to 12 months.

Work permits for foreign experts and skilled professionals are set to be issued within seven days, while investor visas will be processed within 10 days. The government is also considering five-year multiple-entry visas for eligible investors and project personnel.

To facilitate large investments, agencies such as Bida, Beza, Bepza and BSCIC will assign dedicated support teams and case managers. A grievance redress mechanism and a 24-hour investor help desk are also planned.

TAX ADMINISTRATION GOES DIGITAL

The deregulation drive includes measures to simplify tax and VAT compliance. From the next fiscal year, corporate taxpayers will be able to file returns online, while excess tax deducted at source will be refunded directly to bank accounts through an automated system.

Tax and VAT audit selection will be automated using risk-based software, while tax residency certificates for foreign investors will be issued online through the National Single Window.

For VAT, online filing will become mandatory, simplified returns will be introduced for small businesses, and the government is considering quarterly instead of monthly VAT submissions.

CUSTOMS PROCEDURES TO BE SIMPLIFIED

Several reforms target customs administration and bonded warehouse facilities.

The government plans to extend bond facilities beyond the readymade garments sector to other export-oriented industries. Annual bond audits for compliant garment exporters may be withdrawn, while bond validity periods in some sectors will be extended.

Ten sectors, including motorcycles, speedboats, fish processing, handicrafts, diversified jute products and sanitary products, may be allowed to import raw materials against bank guarantees without obtaining bond licences.

Authorities also plan to reduce customs paperwork, expand self-assessment facilities and allow accredited private laboratories to conduct product testing alongside government facilities to reduce port congestion and delays.

EASIER PROFIT REPATRIATION

To improve investor confidence, the government intends to simplify rules governing profit repatriation and capital transfers.

Applications related to the repatriation of profits from foreign investments will be processed within 30 days. Requirements for share transfers and capital repatriation in unlisted companies will be eased, while certain transactions will no longer require prior approval from Bangladesh Bank.

The reform package also proposes simplifying foreign trade payments, expanding digital lending and cashless transactions, and easing regulatory requirements for banking services.

CAPITAL MARKET AND CONSTRUCTION APPROVALS

The government plans to streamline IPO approvals through digital platforms, reduce documentation requirements and review the possibility of direct listing for eligible companies.

Measures are also proposed to expand the corporate bond market and strengthen participation by institutional investors.

Construction, environmental and fire-safety approvals will be integrated into a single online platform. A risk-based approval system will be introduced so that low-risk projects receive faster clearances while higher-risk projects continue to undergo detailed scrutiny.

HIGH-LEVEL TASK FORCE

The government says a high-level task force will oversee implementation of the deregulation programme. A dedicated website will also be launched to track progress and allow businesses to report delays or irregularities in service delivery.

Commenting on the government’s deregulation initiatives, M Masrur Reaz, chairman and CEO of Policy Exchange Bangladesh, said the new government appears to be treating deregulation as a key reform tool for creating a more business-friendly environment.

He welcomed the approach, noting that Bangladesh’s business environment is burdened by unnecessary and outdated regulations, as well as red tape arising from weak regulatory enforcement.

Reaz said deregulation-driven reforms could involve removing redundant rules, simplifying existing regulations and allowing greater self-regulation by industry bodies such as the Bangladesh Garment Manufacturers and Exporters Association.

Such measures, he said, would reduce the time, cost and procedural burden of regulatory compliance for businesses, making government services faster, easier and more competitive.Bangladesh Chamber of Industries President Anwar-ul-Alam Chowdhury Parvez also welcomed several of the proposed measures, but questioned whether they could deliver results without deeper structural reforms.

Manufacturers remain more concerned about uninterrupted gas supply and a stable banking sector than fiscal incentives, he said.

Persistent energy shortages, rising non-performing loans, weak investor confidence and the absence of a clear roadmap for banking reforms continue to weigh on business sentiment, he noted, adding that success would ultimately depend on implementation capacity and institutional reforms.