Premier Bank PLC, a private sector lender, incurred a consolidated loss of Tk388.77 crore in the first half of 2026 as declining interest income and higher funding costs weighed on its financial performance.

The bank reported a loss per share of Tk3.15 for January-June 2026, according to its quarterly financial statements.

The losses widened significantly compared with the same period last year, when the bank posted a consolidated loss of Tk136.56 crore.

The bank's net interest income turned negative at Tk315.85 crore during the first half of 2026, meaning its expenses on deposits and borrowings exceeded income generated from investments.

Its investment income and other operating income declined during the period compared with the previous year. However, income from commission, exchange and brokerage activities showed a slight improvement

Premier Bank's consolidated net asset value stood at Tk1,288 crore at the end of June 2026, down from Tk2,532.84 crore in June 2025.

The bank's net operating cash flow per share improved to Tk9.75 in the first half of 2026, compared with a negative Tk7.64 during the same period last year.

Explaining the decline in net asset value, the bank said it resulted from increased operating losses. The improvement in cash flow per share was mainly due to higher borrowing from other banks and financial agents.

Premier Bank incurred a loss of Tk992.59 crore in 2025, with a loss per share of Tk8.05. Due to continued losses, the bank has not paid dividends to shareholders.

The bank's shares closed at Tk5.30 each on the Dhaka Stock Exchange today (23 July).

Consumer electronics and home appliance manufacturer Singer Bangladesh Limited returned to quarterly profitability in the second quarter of 2026, supported by improved operating performance and lower finance costs.

However, the company remained in losses during the first half of the year as weak consumer demand, higher costs and challenging market conditions continued to affect its overall performance.

According to a price-sensitive information (PSI) disclosure published today (23 July), Singer's board approved its unaudited financial statements for the quarter ended 30 June 2026.

The company reported earnings per share (EPS) of Tk1.36 for the April-June quarter, recovering from a loss per share of Tk3.11 during the same period last year.

For the January-June period, Singer posted a loss per share of Tk4.24, though the loss narrowed from Tk6.61 recorded in the same period of 2025.

Singer's share price closed at Tk76.90 on the Dhaka Stock Exchange today.

The company's net asset value per share turned negative at Tk2.55 as of 30 June 2026, compared with a positive Tk1.69 at the end of December 2025. Meanwhile, net operating cash flow per share declined to Tk5.49 in the first half of 2026 from Tk12.52 a year earlier.

Singer said its second-quarter revenue increased 3.4% year-on-year to Tk8.4 billion, up from Tk8.1 billion in the same quarter last year. However, sales remained below expectations due to weak demand in the consumer electronics market.

The company attributed the slowdown to persistent inflation, geopolitical uncertainty and unfavourable weather conditions that reduced consumer spending.

Although gross profit margins improved slightly, intense price competition prevented the company from fully passing higher costs on to customers.

Operating profit increased 10.7% year-on-year, helping Singer achieve a pre-tax profit of Tk140.8 million in the second quarter, compared with a pre-tax loss of Tk279.1 million in the same period last year.

Finance costs also declined 35.8%, mainly due to exchange rate stability.

Despite the quarterly recovery, Singer faced pressure on working capital. Inventory increased 9.2% as sales remained below expectations, while short-term borrowings rose 19% from December 2025.

Trade receivables surged 77.1% due to higher dealer credit sales and slower collections amid weak economic activity.

Singer said its operating cash flow was affected by dealer financing, seasonal business patterns and extended credit facilities. The company expects cash flow to improve from the third quarter as business conditions recover.

South Korean memory chip giants Samsung Electronics and SK hynix will supply US tech companies, including Nvidia, in agreements worth $950 billion, a presidential adviser said on Saturday.

The announcement was made as President Lee Jae Myung visited San Francisco for talks with the heads of major US technology companies, including OpenAI CEO Sam Altman, Nvidia’s Jensen Huang, Anthropic’s Dario Amodei and Broadcom’s Hock Tan.

The two South Korean chip giants and US tech companies agreed to “pursue cooperation” in the sector, presidential chief of staff for policy Kim Yong-beom told reporters in San Francisco while accompanying Lee.

South Korea is home to the world’s leading memory chipmakers, Samsung Electronics and SK hynix, whose advanced memory chips are essential to the rapidly evolving artificial intelligence industry and have fuelled optimism about the country’s economic outlook.

The announcement includes SK hynix’s planned five-year cooperation agreement to supply $750 billion worth of memory chips to companies including Nvidia, Kim said.

It also includes a $200 billion memorandum of understanding between Samsung Electronics and Broadcom covering the supply of advanced memory chips and foundry services for AI chip production over the next five years, he said.

South Korea has pledged to triple spending on AI this year, aiming to join the United States and China as one of the world’s top powers in the sector.

SK hynix and Samsung Electronics are among the world’s three leading advanced memory chipmakers, along with US-based Micron.

Such chips, called high-bandwidth memory (HBM), are used in AI processors alongside powerful silicon known as GPUs to generate chatbot responses or realistic images.

The AI boom has also fuelled worker demands over pay packages, with Samsung averting a major strike in May by agreeing a deal on bonuses with its largest union.

Samsung and Broadcom plan to “pursue a strategic collaboration for the supply of industry-leading memory solutions, including HBM, supporting Broadcom’s next-generation AI accelerators”, Samsung said in a statement.

SK hynix and Nvidia also aim to “accelerate large-scale AI infrastructure development”, the South Korean firm said.

The two firms “will co-develop and optimize next-generation AI memory solutions, including HBM, to meet evolving infrastructure demands ranging from large language model training to physical AI”, it said in a statement.

Bangladesh has slipped behind Vietnam to become the world's third-largest garment exporter, former BGMEA President Faruque Hassan claimed today (25 July), warning that the country's flagship export sector is losing competitiveness amid mounting financial, policy and operational challenges.

"We must work together to regain the position," Faruque said at a programme organised by the Bangladesh Packaging Accessories Manufacturers and Exporters Association (BPAMEA) ahead of its board election.

Although the latest World Trade Organization report still ranks Bangladesh as the world's second-largest garment exporter in 2025, with Vietnam a close third, business leaders at the event said the sector is facing one of its most critical periods in recent years.

They cited rising production costs, financial constraints, policy uncertainty and administrative bottlenecks as key pressures threatening the industry's competitiveness.

Bangladesh Textile Mills Association (BTMA) President Showkat Aziz Russell said manufacturers were grappling with multiple crises, including financial and safety challenges, warning that conditions could worsen. He also cautioned against relaxing restrictions on free-of-cost (FOC) imports and imposing value-addition requirements on exports, arguing that the measures could encourage imports rather than local sourcing. He urged the government to support domestic manufacturers through incentives.

Bangladesh Employers' Federation (BEF) President Fazlee Shamim Ehsan echoed the concerns, saying the apparel industry was "passing through a terrible time" – a sentiment shared by other business leaders.

Customs graft allegations add to industry's concerns

Former BPAMEA President Moazzem Hossain Moti alleged that corruption in Customs has become a major burden for exporters, claiming businesses are forced to pay bribes to renew bonded warehouse licences.

"Even a small business that imports only 50 tonnes of raw materials a year has to pay Tk20 lakh in bribes. Otherwise, the file is not renewed," he said, urging the authorities to expose and take action against those responsible.

BPAMEA President Md Shahriar echoed the concern, describing Customs as one of the biggest obstacles facing businesses.

The remarks came ahead of the BPAMEA board election on 1 August, where Shahriar is leading the Oikko Parishad panel comprising 25 director candidates.

After more than a decade of delay, construction of the long-awaited Chinese Economic and Industrial Zone (CEIZ) in Chattogram's Anwara is finally set to begin tomorrow.

Authorities expect the project to attract around $500 million in foreign direct investment (FDI) and create more than 1 lakh direct and indirect jobs.

The groundbreaking ceremony for the economic zone will be held at 10am at the project site in Anwara, marking the formal start of the construction of the zone's core infrastructure.

Finance Minister Amir Khosru Mahmud Chowdhury, Home Minister Salahuddin Ahmed, Chinese Ambassador to Bangladesh Yao Wen, and Bangladesh Economic Zones Authority (Beza) Executive Chairman Ashik Chowdhury are expected to attend the event.

The government-to-government project is being developed on around 800 acres of land and is considered one of Bangladesh's flagship initiatives to deepen economic cooperation with China while expanding the country's export-oriented manufacturing base. The project is expected to be completed by 31 December 2031.

Business leaders have welcomed the government's move to expedite the long-delayed project, saying it could significantly boost investment, employment, and industrial growth.

Amirul Haque, president of the Chittagong Chamber of Commerce and Industry (CCCI), hoped a dedicated economic zone for Chinese companies would further strengthen trade and economic partnership between the two countries. "Besides creating employment opportunities, the zone will help expand international trade and attract more foreign investment," he told The Business Standard.

SM Abu Tayyab, a director of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), said the zone will bring substantial benefits to the country's readymade garment industry.

"We import fabrics, accessories and other raw materials from China, which increases both lead time and production costs. If Chinese manufacturers produce and supply these inputs from the economic zone in Chattogram, it will save both time and money, reduce production costs and enhance the competitiveness of our apparel sector," he said.

Officials said the zone is expected to host Chinese as well as domestic and other foreign investors in sectors such as advanced textiles, pharmaceuticals, light engineering, information technology and other export-oriented industries.

Major General (Retd) Md Nazrul Islam, executive member (planning and development) at Beza, said the project is scheduled for completion by 31 December 2031.

"Although the implementation period is five years, we expect to make at least 60% of the industrial plots ready for factory construction within the first three years," he said.

Fresh momentum after PM's China visit

The project gathered pace following Prime Minister Tarique Rahman's official visit to China on 22-26 June, during which the two countries signed several investment-related deals.

On 25 June, Beza exchanged a developer agreement with China Road and Bridge Corporation (CRBC) for the development of the economic zone.

Following the visit, Ambassador Yao Wen said the long-delayed project had achieved tangible progress, with almost all required documentation completed within four months of the new government's tenure. According to him, more than 30 Chinese companies have already committed around $500 million in investment for the zone.

The ambassador also said meetings between the prime minister and leading Chinese companies in Beijing and Dalian generated strong investment interest, describing the progress of CEIZ as a signal that Bangladesh is open for Chinese investment.

Tk4,189cr infrastructure project

The Executive Committee of the National Economic Council (Ecnec) approved a Tk4,189 crore supporting infrastructure project for the economic zone on 16 June, shortly before the prime minister's China visit.

Under the arrangement, the Chinese government will provide Tk2,467 crore through concessional financing, while the Bangladesh government will fund the remaining amount.

The supporting infrastructure includes a 1,235-metre jetty link road, a 330-metre bridge, a 1,181-metre four-lane road, a 25-million-litre Central Effluent Treatment Plant (CETP), a 20,000 deadweight-tonne multipurpose jetty, gas transmission facilities, power substations and transmission lines, water reservoirs, and nearly 12 kilometres of boundary wall.

Strategic location

Located near the Karnaphuli Tunnel, Chattogram Port and Shah Amanat International Airport, the economic zone is expected to benefit from strong transport and logistics connectivity, making it an attractive destination for export-oriented industries.

The government believes the project will play a key role in accelerating industrialisation, creating employment and increasing foreign investment inflows.

Bangladesh and China signed a memorandum of understanding on the project in 2014, while land acquisition was completed in 2016.

However, the project remained stalled for years due to delays in appointing a developer, finalising financing arrangements and resolving administrative issues.

Initially, China Harbour Engineering Company (CHEC) was considered for the role of developer, but negotiations did not progress.

In 2022, the Chinese government nominated CRBC to take over the development of the project, paving the way for its implementation.

Real effective exchange rate (REER) in Bangladesh rose to a seven-month high of 103.10 by June count, up 0.67 per cent from 102.41 in May, with its domino effect on the country's external trade. Bangladesh market analysis

According to data released Thursday by Bangladesh Bank, the REER has been on an upward trajectory since March after falling to 101.43 in February. The increase coincided with the taka-dollar exchange rate having reached Tk 122.95 per US dollar in June.

The higher REER indicates that the local currency remained overvalued against the currencies of Bangladesh's major trading partners despite its gradual depreciation against the greenback.

The local currency weakened by around 0.11 per cent against the dollar in June compared to the previous month.

Market participants say the exchange rate would have been around Tk 126.65 per dollar in June had it fully reflected market fundamentals. Trade capacity planning

However, the central bank appears to have sought to avoid a sharper depreciation because of its potential impact on import costs and domestic inflation.

While many analysts believe a REER reading in the range of 100-103 does not warrant immediate concern, one central banker, requesting anonymity, has said the International Monetary Fund (IMF) may view the taka as still being overvalued.

"The IMF would probably prefer the REER to decline to around 95 to improve Bangladesh's export competitiveness. It has often argued that the central bank should allow greater exchange-rate flexibility rather than influencing the market," he said.

An exporter from the apparel sector said businesses had incurred exchange-rate losses during periods of sharp movements in the taka value.

Economists say an overvalued exchange rate has long been regarded as one of the factors affecting the competitiveness of Bangladesh's exports.

According to Bangladesh Bank data, the taka depreciated by 0.60 per cent against the US dollar at the end of FY2025-26 compared to the end of the previous fiscal year.

Experts attribute the rise in the REER largely to Bangladesh's persistently higher inflation relative to its major trading partners, where inflation has generally remained between 2.0 per cent and 3.0 per cent compared to around 9.0 per cent in Bangladesh.

"In my view, higher inflation is the principal reason behind the increase in the REER," said Dr Md. Ezazul Islam, Director-General of the Bangladesh Institute of Bank Management (BIBM).

He thinks Bangladesh would need either to bring inflation under control or allow the aka to depreciate further to restore external competitiveness.

The Bangladesh Bank calculates the REER using a 17-currency basket (base: FY2023-24 = 100), taking into account the country's trade and remittance flows.

Bank Asia PLC's consolidated earnings per share (EPS) fell 16% year-on-year to Tk1.77 in the first half of 2026, from Tk2.11 a year earlier, mainly due to higher interest expenses and lower investment and fee-based income.

The bank's board approved its financial statements for the January-June period on Thursday, according to the lender's price-sensitive information published on the Dhaka Stock Exchange (DSE) website.

Bank Asia said the decline in EPS was primarily driven by an increase in interest expenses compared with interest income, along with lower investment income and reduced commission, exchange and brokerage income.

On a consolidated basis, the bank's net asset value (NAV) per share stood at Tk26.92 at the end of June 2026, up from Tk24.33 at the same time last year.

Its net operating cash flow per share also increased to Tk48.77 in the first half of 2026, compared with Tk37.60 a year earlier.

Explaining the rise in NAV, Bank Asia said it was mainly due to growth in shareholders' equity, driven by an increase in paid-up capital and statutory reserves, as well as the transfer of startup funds from other liabilities.

The increase in net operating cash flow was mainly due to higher cash inflows from deposits and borrowings, the bank said.

In 2025, Bank Asia reported a profit of Tk407.25 crore, with EPS of Tk3.18.

The bank paid a 17% dividend for 2025, comprising an 8.5% cash dividend and an 8.5% stock dividend to shareholders.

On Thursday, Bank Asia shares closed at Tk18.50 each on the Dhaka Stock Exchange.

The Dhaka Stock Exchange (DSE) ended its three-week gaining streak last week as heavy selling by foreign and institutional investors, coupled with regulatory uncertainty and renewed Middle East tensions, dampened investor sentiment.

Analysts said the Bangladesh Securities and Exchange Commission's (BSEC) proposed changes to margin lending rules prompted major investors to cut exposure.

The benchmark DSEX index fell 96 points, or 1.63%, to 5,804.30, while average daily turnover dropped 28% to Tk1,063 crore from Tk1,474 crore the previous week.

Foreign, institutional investors lead sell-off

DSE data showed foreign and institutional investors remained net sellers throughout the week.

On 21 July, foreign investors accounted for 3.31% of total turnover on the sell side against just 0.23% on the buy side. By the final session on 23 July, foreign buying had dropped to zero, while selling stood at 2.45%.

Institutional investors also sold more than they bought in three of the five sessions, with selling peaking at 10.18% of daily turnover on 21 July.

Retail investors remained the market's biggest buyers, accounting for nearly 90% of purchases, though they also sold shares as the market weakened.

Insurance stocks tumble on margin rule proposal

The main trigger for the decline was the BSEC's draft proposal to tighten margin lending rules, particularly by excluding several insurance stocks from margin loan eligibility, sparking a broad sell-off in the sector.

According to EBL Securities, investors reacted negatively from the week's opening session. Although speculation over possible regulatory easing briefly stabilised the market midweek, the recovery was short-lived.

Sheltech Brokerage said buying interest emerged in December-closing stocks ahead of the earnings season but lacked the strength to sustain a rebound.

General insurance stocks fell 7.4%, and life insurance shares lost 5.4%, making insurance the week's worst-performing sector. Meghna Insurance dropped 13.5%, Global Insurance 12.4%, and Standard Insurance 12.2%.

Mutual funds buck the trend

Mutual funds were the week's top-performing sector, gaining 9.3% after regulators allowed funds to retain unrealised gains instead of distributing them as cash dividends, a move seen as strengthening their financial position.

MBL First Mutual Fund surged 47.8%, while NCCBL Mutual Fund One and Green Delta Mutual Fund each gained 25%.

The non-bank financial institution (NBFI) sector also rose 2%, led by Fareast Finance, up 41.7%, and FAS Finance, which gained 38.5%.

The number of classified loan accounts in the banking sector more than doubled in a year, reaching a staggering 45.83 lakh in March 2026, and the most dramatic surge was seen in retail loan accounts, according to the latest Bangladesh Bank (BB) report.The number of accounts with classified loans of up to Tk 1 crore rose to 45.43 lakh at the end of March this year, marking a sharp rise from 21.63 lakh accounts a year earlier.
“This indicates a mass retail-level deterioration, which can stem from the rising cost of living and household indebtedness, a slowdown in SME activity, and weak repayment capacity in agricultural and small-trading segments,” said the BB in its report, "Banking Sector Update," published on July 23.“Although high-value defaults create larger monetary shocks, the explosion in small-account defaults is a warning sign of widespread financial stress,” it added.The central bank said overall nonperforming loans (NPLs) as a share of total outstanding loans increased to 32.7 percent in March this year from 24.6 percent a year ago and termed the rising NPL ratio alarming.

“Islamic banks and state-owned banks are particularly vulnerable, signaling weak credit discipline and possible governance issues. Foreign banks, in contrast, maintain very low default levels, reflecting stricter risk management,” the report said.

The BB said that, except for foreign banks and new banks that began operations in 2016 or later, classified loans at all banks — state-owned, private, and Islamic — rose between March 2025 and March 2026.

The report said that industry-wise classified loans show that the cottage industry exhibits the highest vulnerability, with a classified loan ratio of 52.8 percent, reflecting severe repayment stress among the smallest business entities.

The combined CMSME and informal sectors represent 21.4 percent of total loans but account for 34.2 percent of classified loans, indicating disproportionate credit quality concerns in these segments.

However, the large industry segment remains the dominant source of credit risk as it accounts for 58.7 percent of total loans and 39 percent of classified loans. This makes the large industry segment the biggest contributor to the banking sector's NPLs, the BB said.

Md Mahiul Islam, deputy managing director and head of retail banking at BRAC Bank, said the lack of proper credit risk appraisal might be one reason for the spike in classified loans for loan amounts of up to Tk 1 crore. A portion could be consumer and credit card loans. Here, high inflation and the erosion of purchasing power may be a factor.

“But our situation is better because we conduct credit appraisal based on customer’s risk appetite and regularly monitor clients,” he said, adding that the ratio of NPLs to retail and SME loans at BRAC Bank is less than 3 percent.

The BB said classified loan ratios increased across all industries, with trade, agriculture, and industry facing the highest risks between March 2025 and March this year.

Some 44.5 percent of total loans were concentrated in the industry sector as term loans and working capital, and the industry sector accounted for roughly 32 percent of the NPLs.

Of the total loans, the trade and commerce sector accounted for 32 percent. The sector's classified loans accounted for 43.8 percent of its total loans.

“This indicates deep-rooted stress in the real economy, possibly due to global economic challenges and weak financial discipline,” said the BB.

The central bank report said the banking crisis is primarily driven by “willful defaulters” and large corporate groups rather than small individual borrowers.

“This pattern may suggest weaknesses in credit appraisal and monitoring systems for high-value loans or the impact of sectoral and macroeconomic shocks affecting large borrowers.”

Gold edged up on Friday as Brent crude retreated from above $100 a barrel, while investors assessed developments in the Middle East conflict and their implications for inflation ahead of the US interest rate decision next week.

Spot gold was up 0.1 percent at $4,052.78 per ounce by 4:10 p.m. EDT (2010 GMT), after falling about 2 percent in the previous session.

Prices were up 0.9 percent for the week so far, supported by dip-buying earlier in the week.

US gold futures for August delivery settled 0.5 percent higher at $4,070.80.

“Gold and silver are carving out a base around $3,950 and $55, respectively, despite relentlessly higher yields,” said Tai Wong, an independent metals trader.

“While a stop-loss move below can’t be ruled out on a sharp war escalation, gold feels ready to move back higher ... A Fed clearly on hold next week would help,” Wong said.

Brent crude oil prices fell over 4 percent, after rising over 7 percent to settle above $100 in the previous session for the first time since May, after Iran-aligned Houthis said they struck two Saudi oil tankers in the Red Sea.

Bullion has fallen about 23 percent since the US-backed war with Iran began in late February, pressured by expectations that war-driven inflation could keep interest rates higher for longer.

While gold is seen as a hedge against inflation, higher rates typically weigh on the non-yielding metal.

Investors now await the US Federal Reserve’s policy meeting outcome next week, when it is largely expected to keep rates unchanged.

Traders are pricing in about an 82 percent chance of a US rate hike in September, according to the CME FedWatch Tool.

“Recent strength in bullion appears driven largely by dip-buying and short covering,” analysts at ING said in a note.

“This follows the sharp correction from record highs earlier this year ... Elevated oil prices and rising yields are likely to cap any recovery, leaving $4,000 as the key near-term level to watch,” ING analysts said.

Finance Minister Amir Khosru Mahmud Chowdhury on Thursday said the true success of the budget depends on its effective implementation, urging officials of the Finance Division to work collectively to translate the fiscal blueprint into tangible outcomes.

Speaking at his first meeting with Finance Division officials at the Ministry of Finance, the minister said the budget, prepared through nearly two months of work, has received appreciation from people across the country, UNB reports.

“A well-prepared budget alone is not enough. Its real success depends on effective implementation,” he said.

Khosru expressed confidence that the Finance Division will be able to implement the budget through coordinated efforts.

Finance Division Secretary Dr Khairuzzaman Mozumder chaired the meeting.

The minister also called for changing the negative public perception of bureaucracy, saying he has realised over the past four months that any challenge could be overcome through teamwork.

He urged officials to move away from conventional approaches and embrace innovative thinking to keep pace with a rapidly changing world.

Khosru said official meetings should not remain one-way, stressing the need to encourage open and spontaneous participation of officers.

He called for a work culture based on free discussion, mutual cooperation and “out-of-the-box” thinking, adding that the workplace should function like a family where officials focus on solutions instead of merely identifying problems.

The minister said objective and timely feedback from different wings of the Finance Division will facilitate better policy-making and decision-making.

Describing the Finance Division as the centre of the country’s economic management, he urged all officials to discharge their responsibilities with professionalism and dedication in the national interest.

Later, speaking to reporters after a meeting at the Secretariat on the integrated development plan for Cox’s Bazar, the minister said the government has initiated steps to prepare a comprehensive master plan to develop the coastal district into an international and regional tourism hub.

He said the government is also reviewing the long-standing 50 metre and 500 metre development restrictions in coastal areas to facilitate planned tourism infrastructure while ensuring environmental protection.

“Where tourism is developed, hotels, motels, resorts and recreational facilities will have to be established. Development opportunities must be created without compromising environmental conservation,” Khosru said.

He said the government has a broader vision for Cox’s Bazar, highlighting ongoing infrastructure projects, including the construction of an international airport, railway connectivity and improved road links from Chattogram.

The minister said these projects will be integrated to transform Cox’s Bazar into a modern digital tourism city.

He also said Bangladesh’s target of becoming a $1 trillion economy by 2034 will be supported by Cox’s Bazar as one of the country’s major growth hubs through the expansion of tourism, trade and service sectors.

While young Bangladeshi entrepreneurs are eager to innovate, start businesses, and scale up, their momentum is severely hindered by process-related bottlenecks, Hossain Zillur Rahman, chairman of Power and Participation Research Centre (PPRC), said yesterday.

Beyond bureaucratic hurdles and policy inconsistencies, he identified three major state-level ailments that continuously suppress entrepreneurial energy – corruption, harassment and underperformance.
Extortion, bribery, and rent-seeking behaviour create unfair financial burdens on emerging businesses, Hossain also said at a panel discussion at the InterContinental Dhaka, organised by the Dacca Institute of Research and Analytics.The economist noted that these issues drain resources from young entrepreneurs at both the inception phase and the scaling phase, discouraging investment and innovation.

Harassment, he said, operates even where favourable policies exist on paper, because implementation depends on individual officials – customs officers, for instance – who interpret regulations arbitrarily.

The result is administrative friction across the system, which is as damaging as corruption itself, said the PPRC chairman.

On chronic underperformance, he pointed to state infrastructure projects plagued by persistent delays and poor execution.

He cited Dhaka’s drainage and sewage pump project, which was launched in 2013 and originally scheduled for completion by 2020, but remains unfinished years later while continuing to draw budget allocations.

“All of these are state-level diseases that are holding back business,” said the PPRC chairman.

Also speaking at the event, Zonayed Saki, state minister for planning, outlined the government’s roadmap for economic recovery, including a five-year strategic framework meant to translate plans into implementation.

Ending capital flight, he said, is essential to redirecting capital toward productive domestic investment.

He said social safety net programmes – Family Card, Farmers Card, etc. – serve both as direct support for citizens and a stimulus for consumption.

Concurrently, he added that public investment in health, education, and skills training is prioritised to boost human capital and industrial productivity to match global competitors.

On energy, the state minister said the government is moving away from an import-dependent policy through domestic gas exploration, including the purchase of five rigs and drilling of five wells, alongside expanded storage capacity. It has also set a target of generating 20 percent of energy from renewables within a decade, driven mainly by private-sector incentives.

He also cited efforts to streamline bad loan management while offering targeted support to distressed but viable industries, and described plans to merge licensing processes under Bida, Beza, Bepza, and the PPPA into a single-window system aimed at issuing licenses within two days and utility connections within seven.

To cut delays and waste in public investment, Saki said the ministry is introducing programmatic project planning, revising Project Director appointment policy to allow private-sector professionals and retired experts, simplifying inflated rate schedules, and moving toward full digital automation.

Asif Ibrahim, former president of the Dhaka Chamber of Commerce and Industry, focused on regulatory hurdles facing entrepreneurs.

Existing one-stop-service systems, such as those run by Bida and Beza, operate in isolation, he said. “There must be a single, overarching OSS to handle all licensing centrally under one framework.”

He said trade licence fees based on factory square footage disproportionately burden large manufacturers, whose annual renewal costs can reach Tk 20-25 lakh, and that fee structures should instead be scaled to company size to avoid overburdening industry.

The former DCCI president also pointed to licensing overload from multiple sector-specific clearances.
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He cited a prior reform that had allowed environmental licence renewals through banks rather than requiring annual visits to the relevant department — a change that was later reversed.

Such “reverse reforms,” he said, need to end.

Bangladesh Securities and Exchange Commission (BSEC) Chairman Masud Khan today (25 July) said company secretaries and other governance professionals would play a key role in implementing the proposed Corporate Governance Rules, 2026, as their effective oversight would be vital for improving corporate governance and compliance.

"Proper compliance with the rules will improve transparency, accountability and investor confidence in the capital market," he said while addressing a continuing professional development (CPD) programme organised by the Institute of Chartered Secretaries of Bangladesh (ICSB) at the BIM auditorium in Dhaka.

Speaking as the chief guest, Masud said the proposed rules aim to strengthen corporate governance standards, promote sustainable business practices and enhance the credibility of Bangladesh's capital market.

Bangladesh Association of Publicly Listed Companies President Riad Mahmud, who attended the event as the special guest, said regulators and listed companies need to work together to ensure the proposed rules are implemented properly.

Presenting the keynote paper, former ICSB president Mohammad Sanaullah outlined the main features of the proposed rules, including enhanced responsibilities for boards of directors, audit committees and independent directors.

"Aligning Bangladesh's corporate governance practices with international standards will help improve market credibility and attract investment," he said.

The programme, titled "Proposed BSEC Corporate Governance Rules, 2026", was organised by ICSB to discuss the draft rules.

The session was chaired by ICSB President Hossain Sadat, who said the institute would continue to support chartered secretaries in adapting to new regulatory requirements.

The two-day National Semiconductor Symposium & BEAR Summit 2026 began in Dhaka yesterday, bringing together government officials, global semiconductor experts, academics and industry leaders to discuss Bangladesh’s ambitions of developing a semiconductor industry.

Prime Minister Tarique Rahman inaugurated the summit as the chief guest at Novotheatre in the capital. Alongside the summit, he inaugurated the BEAR Innovation Expo 2026, which features semiconductor and deep-tech innovations developed by students and startups.
The summit, organised by the Bangladesh Semiconductor Industry Association (BSIA), BEAR and Silicon River Bangladesh, is being held under the theme “Building Bangladesh’s Semiconductor Future through Global Partnership.”

The opening session began with a welcome address by BSIA President MA Jabbar.

Special remarks were delivered by Fakir Mahbub Anam Swapan, minister for ICT, and science and technology; M Anwar Hossain, science and technology secretary; Rehan Asif Asad, the prime minister’s adviser on posts, telecommunications and information technology, and science and technology; and Prof Muhammad Mustafa Hussain of Purdue University, who outlined the long-term vision for the BEAR initiative and Bangladesh’s semiconductor ecosystem.

Following the inauguration, the prime minister toured the BEAR Innovation Expo, visiting exhibition stalls and interacting with participating students, startups and technology companies showcasing semiconductor and deep-tech innovations.

The afternoon programme featured a keynote plenary by Ahmed Bahai, chief technology officer of Texas Instruments, followed by three panel discussions on semiconductor talent development, ecosystem building and global industry collaboration.

The discussions brought together representatives from government agencies, universities, semiconductor companies and international organisations, including GlobalFoundries, NXP Semiconductors, Ulkasemi, Prime Silicon, Neural Semiconductor, BUET, Islamic University of Technology, Arizona State University and the University of Saskatchewan.

The summit will continue on Sunday with four additional panel discussions focused on Bangladesh’s deep-tech future, the CREST Fellows Research Symposium and a closing ceremony.

Organisers said eight strategic national frameworks and roadmaps aimed at supporting the country’s semiconductor ecosystem are expected to be unveiled during the closing session.

Participants at a seminar on Saturday called for stronger collaboration among regulators, listed companies and governance professionals to ensure effective implementation of the proposed Bangladesh Securities and Exchange Commission (BSEC) Corporate Governance Rules, 2026.Bangladesh Business Directory
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BSEC Chairman Masud Khan said the updated rules would strengthen transparency, accountability and sustainable corporate practices in Bangladesh’s capital market while boosting investor confidence.

He said governance professionals would play a crucial role in ensuring effective implementation of the proposed regulatory framework.

The BSEC chairman was speaking at a Continuing Professional Development (CPD) programme organised by the Institute of Chartered Secretaries of Bangladesh (ICSB) on the proposed corporate governance rules at the BIM Auditorium in Dhaka, according to a press release.

Bangladesh Public Listed Companies Association (BPLCA) President Riad Mahmud stressed the need for closer cooperation among regulators, listed companies and governance professionals to facilitate smooth implementation of the new governance requirements.

Presenting the keynote paper, Mohammad Sanaullah, former president of ICSB and chief executive of Mohammad Sanaullah & Associates, highlighted the major changes proposed in the Corporate Governance Rules, 2026, and their implications for listed companies, boards of directors, audit committees, independent directors and company secretaries.

He also emphasised the importance of aligning corporate governance practices with international standards.

The technical session featured Walton Deputy Managing Director and Company Secretary Md. Rafiqul Islam, BRAC Bank Company Secretary Mahbubur Rahman and International Finance Corporation (IFC) Corporate Governance Officer Lopa Rahman, who shared practical insights on implementing the proposed rules, addressing compliance challenges and strengthening governance practices.

ICSB President Hossain Sadat, who chaired the session, reaffirmed the Institute's commitment to promoting professional excellence through continuous learning and capacity-building initiatives.

He said the institute would continue to enhance the professional capacity of governance practitioners to help them adapt to the evolving regulatory landscape.

The National Board of Revenue (NBR) has set a 6 percent lower revenue collection target for Benapole Customs House for the current fiscal year due to a fall in trade with India through Bangladesh's largest land port.

However, this year’s target -- Tk 10,588 crore -- still seems high considering the previous year’s collection of only Tk 6,559 crore against a target of Tk 11,290 crore.
Imports from India through the port fell by 6 percent year-on-year to 12.05 lakh tonnes in the last fiscal year, mainly because of trade restrictions imposed by India, bilateral tensions and operational disruptions, port officials said.Stricter measures taken by the port authorities to curb tax evasion and irregularities have also played an important role, as the authorities detected at least 130 cases of customs fraud at Benapole in the past six months.

In addition, four separate cases were recently filed over the alleged smuggling of goods worth approximately Tk 20 crore.

Fifty-seven individuals, including customs officials, port authorities, members of various security agencies, and representatives of the business community, have been named as accused in the cases.

"There is no alternative to revitalising import trade and ensuring transparency to achieve the next revenue collection target," said Aminul Haque, vice-president of the Benapole Importers and Exporters Association.

He said stronger monitoring would be required to prevent smuggling and customs duty evasion.

Meanwhile, Rahat Hossain, assistant commissioner of Benapole Customs House, said customs officials were making every effort to increase revenue collection.

"We have adopted a zero-tolerance policy against customs duty evasion and all forms of irregularities. Alongside departmental and legal action against those involved in fraud, financial penalties are also being imposed," he said.

The National Board of Revenue (NBR) has set a 6 percent lower revenue collection target for Benapole Customs House for the current fiscal year due to a fall in trade with India through Bangladesh’s largest land port.

However, this year’s target -- Tk 10,588 crore -- still seems high considering the previous year’s collection of only Tk 6,559 crore against a target of Tk 11,290 crore.

Imports from India through the port fell by 6 percent year-on-year to 12.05 lakh tonnes in the last fiscal year, mainly because of trade restrictions imposed by India, bilateral tensions and operational disruptions, port officials said.

Stricter measures taken by the port authorities to curb tax evasion and irregularities have also played an important role, as the authorities detected at least 130 cases of customs fraud at Benapole in the past six months.

In addition, four separate cases were recently filed over the alleged smuggling of goods worth approximately Tk 20 crore.

Fifty-seven individuals, including customs officials, port authorities, members of various security agencies, and representatives of the business community, have been named as accused in the cases.

“There is no alternative to revitalising import trade and ensuring transparency to achieve the next revenue collection target,” said Aminul Haque, vice-president of the Benapole Importers and Exporters Association.

He said stronger monitoring would be required to prevent smuggling and customs duty evasion.

Meanwhile, Rahat Hossain, assistant commissioner of Benapole Customs House, said customs officials were making every effort to increase revenue collection.

“We have adopted a zero-tolerance policy against customs duty evasion and all forms of irregularities. Alongside departmental and legal action against those involved in fraud, financial penalties are also being imposed,” he said.

Bangladesh Bank has tightened the eligibility criteria for Export Development Fund (EDF) loans, barring exporters with overdue export proceeds or converted EDF liabilities from accessing the foreign-currency lending facility unless they regularise their position.

Exporters that fail to repatriate export proceeds within the prescribed timeframe, or whose EDF liabilities have been converted into funded facilities, will no longer qualify for EDF financing, according to the circular issued by Bangladesh Bank (BB) on Thursday.

However, such exporters may regain eligibility once the overdue export proceeds have been repatriated or an exemption has been granted by the Discount Committee, the circular said.

"We have tightened the eligibility criteria for EDF financing to ensure greater credit discipline in the country's banking sector," a senior BB official told The Financial Express in response to a query.

Under the new framework, the central bank will refinance authorised dealer (AD) banks at the six-month Secured Overnight Financing Rate (SOFR) plus 0.50 percentage points, while banks may lend to exporters at the six-month SOFR plus 1.50 percentage points.

EDF loans will continue to be repayable within 180 days, although the repayment period may be extended to a maximum of 270 days, subject to Bangladesh Bank's approval.

The circular retains the existing sector-wise financing limits for back-to-back letters of credit (LCs), with a maximum ceiling of US$20 million depending on the export sector.

Separate financing limits have also been maintained for bulk imports under inland back-to-back LCs, with ceilings ranging from US$1.0 million to US$20 million.

In addition, the central bank has introduced a new EDF refinancing facility of up to US$500,000 for eligible bulk imports, regardless of sector.

Exporters using both bulk import and back-to-back LC facilities will be allowed to avail themselves of the financing limit applicable to only one trade association.

The circular also sets out detailed procedures for submitting EDF applications, obtaining repayment extensions and complying with other operational requirements.

Business leaders welcomed the central bank's latest move, saying the master circular consolidates multiple instructions into a single, comprehensive framework, making the EDF guidelines easier for banks and exporters to understand and implement.

The Foreign Exchange Policy Department of the central bank issued the circular to consolidate previously scattered directives and update foreign currency-based refinancing policies for export-oriented manufacturers importing raw materials and intermediate inputs.

Under the updated framework, regular EDF loans must be settled within 180 days, with the provision for extending the repayment window up to 270 days upon receiving prior approval from the central bank.

According to the new financial structure, Bangladesh Bank will provide refinancing to Authorized Dealer (AD) banks at a rate equal to the 6-month benchmark interest rate plus an additional 0.50 percent. AD banks, in turn, can charge exporters a maximum interest rate of up to 1.50 percent above the 6-month benchmark rate.

The central bank has also tightened eligibility criteria to ensure financial discipline. Exporters who fail to repatriate export proceeds within the stipulated timeframe, those whose EDF liabilities have been adjusted through other bank loans, and banks that default on timely EDF settlements will be ineligible for the facility. Exporters can, however, regain access to EDF financing once overdue export earnings are brought back or upon securing approval from the discount committee.

The Master Circular retains the existing sector-specific financing limits for back-to-back Letter of Credit (LC) imports, capped at up to $20 million depending on the industry. Sector-specific limits for bulk imports also remain unchanged, ranging between $1 million and $20 million.

In addition, a maximum EDF refinancing facility of $500,000 has been introduced for eligible bulk imports regardless of sector. Exporters who utilize both bulk imports and back-to-back LCs will be restricted to using the financing ceiling designated for a single trade association.

Business leaders have welcomed the central bank’s initiative, noting that bringing isolated instructions under a single master circular will simplify compliance and make EDF operations far more transparent and efficient for commercial banks and exporters alike.

Akij Group has entered Bangladesh’s commercial helicopter market through its subsidiary Akij Aviation Limited, launching charter operations with three helicopters.

The fleet comprises a Bell 505 for patient transportation and two Robinson R66 helicopters for passenger services, according to Air Commodore (retd) Md Mamunur Rashid, chief executive officer of Akij Aviation.
Rather than operating on fixed routes, the company will provide charter services based on customer demand, covering corporate and business travel, tourism, industrial purposes, personal trips and medical emergencies, he said.Akij Aviation previously used its helicopters to transport executives, doctors and patients between the group’s factories and hospitals. It has now opened the fleet to commercial charter services to help offset operating and maintenance costs.

The move comes as demand for helicopter services has grown among industrialists and businesspeople for business travel and emergencies, according to Mamunur.

Helicopters are also used for rescue operations in remote areas, transportation of critically ill patients, urgent travel, political events, weddings, media coverage, and film and television shoots, he said.

Bangladesh currently has 10 helicopter operators with a combined fleet of about 23 helicopters, according to the CEO.

However, the sector has struggled with high operating costs, forcing several operators to shut down over the years, he said.

“Running a helicopter business is expensive. Hangar rent, electricity, utilities, maintenance, spare parts and tools all cost a great deal,” Mamunur said.

Private helicopter operators also do not receive some of the incentives available to state-owned carriers, particularly on aviation fuel, making it difficult to sustain operations, he added.

Beximco Aviation and R&R Aviation have already ceased operations, according to him.

Akij Aviation said its commercial operations would help cover the cost of maintaining its fleet while supporting its medical transportation services.

Mamunur said patient transportation, particularly emergency medical evacuation involving Akij’s hospitals, remains the company’s primary objective.

“Our goal is to ensure quick transportation for critically ill patients. We are not entering this business to maximise profits,” he said.

The company is also providing a free air ambulance service for poor and underprivileged people in Khulna division who require emergency medical care, according to him. The service is being run under the supervision of the Ad-din Foundation.

Helicopter use has also expanded beyond corporate clients in recent years, with more families opting for charter flights for weddings and other social occasions.

The country’s existing operators are South Asian Airlines, Square Air, Bashundhara Airways, Impress Aviation, Meghna Aviation, Partex Aviation, BCL Aviation, Bangla International Airlines, BRB Air and ATL Aviation.