April 2026 inflation data sends a clear warning signal. According to the latest data from the Bangladesh Bureau of Statistics, general point-to-point inflation rose to 9.04% in April, up from 8.71% in March. This means that the expectation of a steady decline in inflation has not yet materialised. Rather, the April figures show that price pressures have increased again.

Food inflation also rose from 8.24% in March to 8.39% in April. At the same time, non-food inflation increased from 9.09% to 9.57%. This suggests that the pressure is not confined to rice, lentils, edible oil, fish, meat, or vegetables. Costs have risen across almost all areas of daily life, including house rent, healthcare, education, transport, clothing, and energy-related expenses.

Both rural and urban areas are experiencing an upward trend in overall inflation. In rural areas, general point-to-point inflation increased from 8.72% in March to 9.05% in April. In urban areas, general inflation also rose from 8.68% in March to 9.02% in April. Numerically, the difference between rural and urban inflation is not very large, but rural inflation is slightly higher. This difference has important social implications. Rural low-income households, small farmers, agricultural labourers, day labourers, and informal workers often have uncertain incomes and very limited savings. As a result, they find it harder to absorb the shock of rising prices.

The internal composition of rural inflation is even more concerning. Rural food inflation rose from 8.02% in March to 8.23% in April. Rural non-food inflation increased from 9.38% to 9.81%. This means that rural households are facing pressure not only from food prices but also from non-food expenses. When the costs of healthcare, education, transport, agricultural inputs, electricity, house repairs, and everyday services rise, the real purchasing power of rural households declines quickly. We often assume that because rural people are connected to food production, they are less affected by food inflation. The reality is different. A large share of rural people are net food buyers. They buy rice, lentils, edible oil, fish, eggs, and vegetables from the market. Therefore, food inflation directly affects them.

Urban inflation is also a serious concern. In urban areas, general inflation increased from 8.68% in March to 9.02% in April. The expenditure pattern of urban households is different from that of rural households. In cities, house rent, transport, education, healthcare, gas and electricity, water, childcare and market-dependent food purchases occupy a large share of household budgets. Urban low-middle-income and working-class people have to buy almost everything from the market. They have little scope for own production or family-based support. Therefore, even a modest rise in food prices, combined with higher rent and service costs, can quickly disrupt the monthly budget. Fixed-salary workers, garment workers, small service-sector workers, rickshaw pullers, shop employees and informal workers are particularly exposed to this pressure. Urban inflation is therefore not only a matter of market prices; it also reflects the growing insecurity of urban life.

In this situation, inflation cannot be treated only as a monetary policy issue. Interest rates, credit growth and money supply management are important, but a large part of Bangladesh's current inflation is linked to supply chains, import costs, the exchange rate, energy prices, market management and inflation expectations. Therefore, a coordinated policy response is needed. The food supply chain must be strengthened. Competition in markets has to be improved. Effective monitoring is required against hoarding and abnormal price hikes. Import decisions must also be timely, so that signals of shortage do not emerge in the market. At the same time, inefficiencies in agricultural production, storage, transport, and wholesale market systems must be reduced.

The highest priority should be protecting low-income people. Rural and urban poor households, lower-middle-income groups, fixed-income earners, and informal workers are the main victims of inflation. Social protection programmes need to be made more targeted. Food support, subsidised essential goods, cash transfers and employment-based assistance should be expanded in line with actual needs. In urban areas, subsidised food distribution, support for the urban poor facing rental pressure, and special protection programmes for low-income workers are also needed. Wage growth must also be monitored so that it does not remain below inflation. In the end, inflation is not merely a statistic. It means eating less, postponing healthcare, cutting children's education expenses and accepting a lower quality of life.

Dr Selim Raihan is a professor of Economics at Dhaka University and executive director of the South Asian Network on Economic Modelling (Sanem).

Inflation surged to 9.04% in April, driven by rising costs of both food and non-food items amid oil shocks stemming from the US-Israeli war on Iran.

The rate was 8.71% in March, according to the latest data released by the Bangladesh Bureau of Statistics (BBS) today (6 May). In April last year, inflation was 9.17%.

Non-food inflation increased significantly to 9.57% and food inflation reached 8.39% in April, with food prices hitting urban consumers harder than those in villages. Rural households spent more on non-food items compared to those in urban areas.

Overall, inflationary pressures were more intense in rural areas than in towns.

Zahid Hussain, former lead economist at the World Bank Dhaka Office, said the impact of the war in the Middle East has already started affecting inflation in Bangladesh.

According to him, inflation increased in both food and non-food sectors, but the rise in non-food inflation was the sharpest, driven mainly by fuel and transport costs.

He explained that higher transport costs were reflected in the market very quickly, even before any official increase in fuel prices. As a result, inflationary pressure in the transport sector appeared earlier.

On the other hand, since government-administered fuel prices are used in official statistics, the actual impact has not yet been fully reflected in the Consumer Price Index (CPI).

"Part of the real inflation has still not appeared in official statistics because of delayed price adjustments, which may be described as 'repressed inflation'," Zahid Hussain said.

That means consumers are already paying higher prices than what is fully reflected in the official data.

"April's nearly 9% inflation rate does not fully capture the real picture, as the delayed price adjustments are likely to be reflected more clearly in the coming months, especially in May data," he added.

Zahid Hussain observed similar trends in both urban and rural areas, where higher transport costs were the main source of inflation, followed by the impact of fuel prices.

He said the main cause of the rising trend in inflation was soaring global commodity prices.

Not only fuel, but the prices of almost all imported goods have increased due to higher shipping costs, rising insurance premiums and global supply disruptions.

As a result, higher production and supply chain costs have accelerated inflation further.

Wage growth trails behind inflation

According to BBS data, the national wage growth rate increased to 8.16% in April from 8.09% in March.

Although wages increased, they remained below the inflation rate for the 50th consecutive month.

Mustafa K Mujeri, executive director of the Institute for Inclusive Finance and Development, said the Middle East-centred conflict is affecting inflation in Bangladesh.

"At the same time, the country's production sector has not yet fully regained momentum."

Instead, he explained, higher production costs, transport expenses and import costs have put pressure on the supply system, with increased fuel prices intensifying the pressure.

Mujeri warned high inflation might continue in the coming months as the current economic trend was not favourable for reducing inflation.

According to him, global markets remain unstable, making a quick fall in inflation unlikely.

Natural disasters, especially possible floods, could also disrupt agricultural production and create supply shortages, he added.

The pressure is more intense on low-income people, as wage growth remains below inflation, reducing their real income and purchasing power.

In this context, Mujeri stressed the need to strengthen social safety net programmes, increase food and cash assistance, create jobs, raise investment and reopen closed factories.

He also called for ensuring food security for poor people in the budget.

The Dhaka Stock Exchange (DSE) is set to launch a dedicated web-based order collection system enabling the creation and redemption of open-end mutual fund units— an initiative currently absent in Bangladesh.

With the platform integrated into the alternative trading board, investors will be able to directly place buy and sell orders, subject to approval by brokerage houses.

Nuzhat Anwar, managing director of the DSE, said, "We are expecting to launch the Mutual Fund Platform by 30 June 2026. We believe this will help retail investors under a collective investment plan as per international best practice. We will arrange investor awareness programs for the product close to our launch date. We expect to launch the platform by June this year."

In a letter to the stock market regulator, seeking permission in August last year, the DSE said the initiative aims to modernise and streamline critical aspects of the capital market ecosystem in line with international best practices, reduce operational inefficiencies, mitigate systemic risk, and improve the overall investor experience.
After securing the regulator's approval, the premier bourse has moved to set up the platform, floating a tender to procure and develop a web-based order collection system for the creation (buy) and redemption (sell) of units of open-end mutual funds on the alternative trading board (ATB).

The DSE has invited professional software development companies, system integrators, and solution providers to develop, supply, implement, integrate, and provide long-term support for the system.

The bourse said the platform will enable retail and institutional investors to conveniently buy and sell open-end mutual fund units through desktop terminals and mobile applications via stock brokers (TREC holders/panel brokers).

The solution must ensure seamless integration with the DSE, TREC holders, Central Depository Bangladesh Limited (CDBL), asset management companies (AMCs), custodians, and other stakeholders, it said.

The DSE has asked interested bidders to submit separate technical and financial proposals – either in sealed envelopes or as per updated submission guidelines – by 12 May.

According to a letter from the DSE, currently no dedicated exchange platform exists for the online creation and redemption system of open-end mutual fund units. Neighbouring countries operate web-based open-end mutual fund platforms for creation and redemption."

The letter also said that stakeholders' feedback indicates a strong consensus that the platform will enhance retail participation, increase daily turnover and simplify the redemption process.

For that, the bourse sought a regulatory amendment required to issue an order mandating that all open-end mutual funds be enlisted and traded through stock exchanges within a stipulated timeline.

Nuzhat Anwar said, after securing the regulatory approval, we have already begun to implement the platform as tender floated.

As per the data of the Bangladesh Securities and Exchange Commission (BSEC), currently, in the country, there are 140 mutual funds approved by the commission.

Of the funds, 36 mutual funds are closed-end with a market value of Tk4,481.26 crore and all the closed-end mutual funds are listed on the bourses.

A closed-end fund is an investment vehicle that raises capital by issuing a fixed number of shares at its inception and then invests that capital in financial assets such as stocks and bonds.

Also, there are 104 open-end mutual funds with an accumulated value of Tk8,593.5 crore.

Open-ended funds allow continuous buying/selling at net asset value (NAV) with no fixed share count, offering high liquidity and direct transactions with the fund manager.

Stocks leapt, oil prices sank and the dollar dropped in the Asian morning on Wednesday after US President Donald Trump touted "great progress" towards a "final agreement" with Tehran, while momentum in AI-driven trades accelerated.

Trump said he would briefly pause an operation escorting ships through the Strait of Hormuz, which carries about a fifth of global oil and has been blockaded by Iran since late February, triggering a global energy crisis.

The news sent Brent crude tumbling 1.2% to $108.51 per barrel, while S&P 500 e-mini futures were up 0.3%.

MSCI's broadest index of Asia-Pacific shares outside Japan jumped 2.3% to a fresh record, led by a 5.1% surge in South Korea's Kospi, clearing the 7,000 mark for the first time.

"Markets embraced a sense of calm and stability overnight, with the risk of escalation in the Middle East conflict viewed as having diminished after US Defence Secretary Pete Hegseth ensured the ceasefire was still in place, despite the US and Iran trading blows yesterday," analysts from Westpac wrote in a research note.

"This put some wind in the sails for risk sentiment, supporting a rebound in equities across the US and Europe at the same time as crude oil prices partially unwound yesterday's climb."

Stocks on Wall Street hit fresh records on Tuesday as the S&P 500 rose 0.8% and the Nasdaq Composite gained 1%.

"Investors bought and continue to add to positioning in the 2026 winners," said Chris Weston, head of research at Pepperstone Group Ltd in Melbourne. "There has been some buying in S&P 500 materials stocks, but it's tech that continues to attract the bulk of flows, notably in Apple and the memory plays."

As the Seoul market reopened after a holiday, Samsung Electronics jumped 12%, topping a $1 trillion market value, overtaking Berkshire Hathaway and closing in on Walmart.

"Due to the capex spend we are seeing from hyperscalers in the US, the earnings growth trajectory for sectors such as semiconductors, tech hardware, industrials and materials in Asia exceeds anything I have seen in a long-time," said Rushil Khanna, head of equity investments for Asia at Ostrum, an affiliate of Natixis Investment Managers.

"This capex is leading to material value creation in Asia as the provider of the picks and shovels to the AI ecosystem," he said.

Shares in Advanced Micro Devices jumped 16.5% in extended trading as the company forecast second-quarter revenue above Wall Street expectations on Tuesday, helped by keen demand for its dead-centre chips as cloud-computing companies accelerate spending on AI infrastructure.

In the foreign exchange markets, the US dollar index, which measures the greenback's strength against a basket of six currencies, snapped a three-day winning streak, nudging down 0.1% to 98.236.

The euro stood at $1.1724 and sterling was at $1.3577, both up around 0.3% so far on the day.

The Australian dollar fetched $0.7227, rising about 0.6% to the highest since June 2022, buoyed by improved risk appetite and underpinned by a third straight interest-rate hike a day earlier.

The yield on the US 10-year Treasury bond was flat at 4.424%.

Gold was 1.2% higher at $4,609.59. In cryptocurrencies, bitcoin was down 0.9% at $80,881.12, while ether was off 1% at $2,358.09.

The Asian Development Bank (ADB) has projected that oil prices will average $96 per barrel in 2026 -- well above the pre-war average of $69 -- as key infrastructure has been damaged and, despite the ceasefire in the Middle East, transit through the Strait of Hormuz has not resumed.

Prices may moderate to $80 on average in 2027, according to an updated ADB analysis on the impact of the Middle East conflict on Asia and the Pacific, released yesterday.

Fertiliser prices -- especially those of urea, a key crop nutrient -- have also shot up, fuelling inflationary expectations and increasing fiscal pressure on nations, particularly energy- and fertiliser-importing ones like Bangladesh.

The multilateral lender has lowered its 2026 growth projections for developing Asia and the Pacific, saying the conflict has proved far more disruptive than its early stabilisation scenarios suggested.

Regional GDP growth is now forecast at 4.7 percent, a 0.4 percentage-point drop, while the inflation estimate has been raised by 1.6 percentage points to 5.2 percent.

“Transit through the Strait of Hormuz remains severely impaired despite the April ceasefire. Physical damage to energy facilities across the Gulf will prolong supply disruptions beyond the end of the conflict -- with some repairs expected to take three to five years,” said ADB Chief Economist Albert Park.

“A new reference scenario incorporating persistent supply constraints points to materially slower growth and higher inflation; a severe downside scenario implies substantially larger impacts,” he said at a media briefing on the sidelines of the ADB Annual Meeting in Samarkand, Uzbekistan.

The four-day event concluded yesterday with ADB President Masato Kanda terming the conference a success at the closing ceremony.

Park said impacts depend on imported energy dependency, fertiliser import exposure, and other economy-specific factors. Across subregions, the largest 2026 growth downgrades have occurred in South Asia, the Pacific, and developing Southeast Asia.

The Manila-based agency now projects a 5.7 percent growth in South Asia in 2026, down from an earlier forecast of 6.3 percent. Inflation in the subregion is projected to rise to 7.6 percent, up 2.6 percentage points from the previous estimate.

“Markets price in persistently tighter conditions, not a quick reversal.”

The ADB said supply disruptions have exerted upward pressure on the prices of non-oil commodities, particularly fertilisers.

“Prices are surging,” Park said, adding that urea marked the largest non-energy price shock and that it has a direct impact on food costs.

South Asia sources 35 percent of its fertiliser from the Middle East. Bangladesh is a major importer of fertiliser from the Gulf nations.

“Food prices typically follow within one quarter,” he added.

Responding to a question on Bangladesh’s economic growth, he said the country-specific numbers for Bangladesh based on the reduced growth forecast will be released by the end of this month.

“So, the regional one is an indicator; I think Bangladesh’s growth will probably be a bit lower. They would have more headwinds, in effect, than the rest of the South Asia average,” he said.

“But I think you should wait; our next Asian Development Outlook will have a much more thorough assessment of Bangladesh, and that report will be coming out in July or early August,” he said.

To tackle the challenges, the ADB suggested avoiding blanket fuel subsidies and excise tax cuts.

High-income households consume more energy, and subsidies are fiscally very costly if prices stay elevated, he said.

“Policymakers should target support to vulnerable households, maintain monetary credibility, and accelerate investment in energy resilience,” he said.

Park suggested targeted cash transfers to protect vulnerable households and ensure fiscal space. A data-dependent monetary policy is needed.

“This is a supply shock, not a demand shock. Monitor inflation expectations and second-round effects before tightening; avoid choking growth unnecessarily,” he added.

Bangladesh’s top garment exporters association has offered to help the United States define the rules governing a zero-tariff benefit tied to the use of US cotton and man-made fibre (MMF).

The offer was made as US officials are yet to clarify how the facilities -- stated in the bilateral trade deal signed in February amid reciprocal tariff pressure -- will work in practice.

Members of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) made the proposal at a meeting in Dhaka yesterday with a delegation from the United States Trade Representative’s (USTR) office, led by Assistant USTR for South and Central Asia Brendan Lynch.

The delegation arrived on May 5 and is holding meetings through May 7.

Under Article 5.3 of the Agreement on Reciprocal Trade (ART), the US committed to a mechanism allowing certain Bangladeshi textile and apparel goods to enter the American market at a zero reciprocal tariff rate, provided they are made from imported US cotton or MMF.

“We sought clarity on the whole issue of using American cotton and its benefits from the USTR officials at the meeting,” said Faisal Samad, a BGMEA director who attended the meeting.

According to industry insiders, two interpretations are currently circulating among exporters.

One holds that the zero tariff would apply only to the portion of a garment’s value attributable to US-sourced inputs. Since fabric and fibre typically account for 70 to 80 percent of a finished garment’s cost, that would mean the remaining tariff -- either the 10 percent universal rate or the 19 percent reciprocal rate set for Bangladesh -- would apply only to the rest.

The other reading is that duty-free access would cover the entire garment if US cotton or MMF were used in production.

Exporters also raised questions about traceability -- how authorities would verify that a garment was made using US inputs -- and about whether tariff treatment would differ depending on whether raw cotton or processed fibre and fabric were sourced from the US.

The USTR delegation said they are working on the modalities and will share updates, Samad said. BGMEA offered to cooperate in developing those rules.

Around 40 percent of Bangladeshi garment exporters currently use US upland cotton, primarily for high value-added products.

After a separate meeting with the USTR team yesterday, Rashed Al Mahmud Titumir, the prime minister’s finance and planning adviser, said Bangladesh’s priority is expanding its market concentration in the US and developing new export categories beyond garments.

He noted Bangladesh wants further consultation meetings with the US on the agreement.

Stating that currently, Bangladeshi garment items are dominating in the US market, he said, “Commercial, health and education and humanity issues may also be discussed with the US when the bilateral discussions take place between the two countries.”

Bangladesh also wants expansion of strategic assistance from the US in agricultural cooperation and science research, he added.

Earlier on Tuesday, speaking after a meeting with the USTR team, Commerce Minister Khandaker Abdul Muktadir said the government intends to make full use of the agreement.

“It is a reality, and we want to make the best use of it to expand the country’s trade and investment,” he said.

US goods trade with Bangladesh totalled an estimated $11.8 billion in 2025.

American imports from Bangladesh reached $9.5 billion -- up 13.3 percent from 2024 -- while US exports to Bangladesh were $2.3 billion.

The resulting trade deficit stood at $7.1 billion, a 17.9 percent increase from the previous year. Garments account for 86 percent of Bangladesh’s exports to the US.

The liquidation of six troubled non-bank financial institutions, a decision taken by the interim government on the central bank's recommendation, will not proceed this fiscal year as the current government has been unable to allocate the Tk5,600 crore set aside to reimburse depositors, officials said.

The delay has driven those depositors onto the streets. Today (6 May), more than a hundred of them gathered in silent protest outside the Bangladesh Bank headquarters, their faces covered with black cloth.

Their demand was straightforward: an immediate, realistic, and actionable roadmap for returning their money, in line with the July 2026 deadline cited by former governor Ahsan H Mansur.

"A clear timeline was given. We are holding them to it," one protester said.

Responding to queries, central bank spokesperson Arief Hossain Khan said the liquidation decision had been made during the interim administration, when assurances were given that necessary funds would be provided to reimburse depositors. "Based on that assurance, the former governor announced the liquidation."

According to him, the current government is prioritising spending on its political programmes, including social support initiatives like Family Card, Farmer's Card, etc, leaving insufficient fiscal space to finance the liquidation process at present.

"If the government is given some time and funding is secured, the liquidation process will begin, and depositors will then receive their money," he said.

The spokesperson noted that the financial condition of the six to seven institutions was so weak that revival was no longer feasible, prompting the decision to proceed directly with liquidation rather than merger.

The central bank board had approved the liquidation of six institutions on 27 January. The entities are FAS Finance, Premier Leasing, Fareast Finance, Aviva Finance, People's Leasing and International Leasing, all of which have non-performing loan ratios ranging from 75% to 99%.

A senior official from the central bank's Bank Resolution Department said preparations for liquidation are complete, but implementation hinges entirely on government funding.

He added that discussions have been held with the governor, who indicated that while all six institutions may not be liquidated simultaneously, the process will move forward gradually. However, no assurance has been given that it will be completed within the current fiscal year.

An official from the Department of Financial Institutions and Markets, speaking on condition of anonymity, said the government should clearly communicate its decision, as depositors continue to seek answers without receiving any definitive timeline.

He described cases of severe hardship, including one depositor who had sought assistance while undergoing medical treatment but later died due to a lack of funds.

Depositors demand urgent action

An alliance representing more than 12,000 depositors of the six institutions has formally urged the central bank to take immediate steps to facilitate the return of their long-stuck funds.

In a memorandum submitted to the governor, the platform said depositors have been facing acute financial hardship, mental distress and a humanitarian crisis as their savings have remained locked for nearly seven years.

"Many depositors are being deprived of treatment for critical illnesses such as cancer, kidney disease and heart conditions due to a lack of funds," the memorandum said, adding that several have died without receiving necessary medical care.

The alliance called on the central bank, as the regulator, to take urgent action and ensure a clear roadmap for repayment within the previously announced timeframe.

Protesters said many had invested retirement benefits and proceeds from the sale of land in these institutions to support household expenses, but have been unable to access their savings for years.

"After waiting for seven years, we still have not received our money. Our patience has run out, which is why we have taken to the streets," one depositor said.

Sector under strain

The broader non-bank financial sector remains under significant stress, with the central bank identifying 20 out of 35 institutions as distressed.

These troubled institutions collectively hold loans worth Tk25,808 crore, of which Tk21,462 crore are classified as non-performing, representing 83.16%. Against this, the value of collateral stands at Tk6,899 crore.

In contrast, the remaining 15 relatively stable institutions reported a non-performing loan ratio of 7.31%, generating profits of Tk1,465 crore last year and maintaining a capital surplus of Tk6,189 crore.

Deposits in the 20 distressed institutions amount to Tk22,127 crore, including approximately Tk4,971 crore in individual deposits. Central bank officials believe that this amount may be required initially to support liquidation and restructuring efforts.

The regulator has also assured that employees of the affected institutions will receive all benefits in accordance with service rules following liquidation.

Bangladesh needs to move up the global value chain (GVC), with fresh policy measures aiming to support this by promoting diversification and higher value-added activities, according to a new Asian Development Bank (ADB) study.

The study on GVCs, growth, and inequality was released yesterday.

From a trade and GVC perspective, Bangladesh has become heavily dependent on readymade garment (RMG) exports, with apparel making up over 80 percent of total exports, while the share of textiles has declined.

The country’s participation in the textiles and textile products GVC is also concentrated in low-value downstream work, mainly assembling and finishing imported materials.

According to ADB data, compared with other major textile exporters in developing Asia and the Pacific, Bangladesh has a relatively low ratio of forward to backward GVC linkages.

This shows a strong dependence on imported fabrics, yarns, dyes and other inputs, with limited involvement in higher-value stages of production.

Strong specialisation in textiles and textile products has helped Bangladesh absorb labour and boost exports, but it has also limited structural upgrading. As a result, the country has joined GVCs but has not moved up within them.

This is reflected in weak forward linkages and limited knowledge transfer from global lead firms, which restrict improvements in processes, products and functions.

GVC participation rates are also below the global average, showing less integration across different stages of production compared with peer exporters.

In addition, the industrial base outside textiles and textile products remains narrow, limiting value-added diversification and the development of local suppliers.

The report also said Bangladesh faces challenges in its GVC participation. Although exports and production in the RMG sector continue to grow, this expansion is not translating into stronger employment growth.

Wages have also started to rise since Bangladesh was reclassified as a lower-middle-income country in 2015. This has raised concerns about a possible “middle-income trap,” where economies struggle to move from middle- to high-income status.

Preferential market access, such as the European Union’s Everything but Arms (EBA) scheme, has supported the growth and integration of the RMG sector. However, recent changes in rules of origin are limiting opportunities to upgrade in certain product areas, including knitwear.

Participation in GVCs, especially in the apparel sector, has been central to Bangladesh’s export-led growth. It has also supported inclusive development by creating jobs -- particularly for women -- and reducing poverty.

The sector now accounts for most export earnings and employs around 4.5 million people, more than half of them women. Despite this progress, concerns remain about continued reliance on low wages and poor working conditions.

Efforts have been made to improve safety and sustainability in the industry, including the Accord on Fire and Building Safety in Bangladesh and the Alliance for Bangladesh Worker Safety.

These were introduced after the Rana Plaza collapse in 2013, which killed more than 1,100 people in a building housing five garment factories. However, the report said these efforts are still not complete.

“Bangladesh has done very well in garments, but that is a very labour-intensive activity with little upgrading to higher value-added work,” said ADB Chief Economist Albert Park, speaking at a media briefing on the sidelines of the 59th Annual Meeting of the Board of Governors of ADB in Samarkand, Uzbekistan, which concluded yesterday.

He added that Bangladesh should look for opportunities to move up within GVCs.

“And also, for Bangladesh, there is such a concentration in this one export sector that it is very risky for the economy if something unexpected occurs that really affects that sector, as we have seen in the past,” Park said.

He added that Bangladesh should diversify into other sectors and allow easier import of inputs without tariffs.

“The same kind of treatment that readymade garments get should be extended to other sectors to expand opportunities,” he said. “And meanwhile, really think about opportunities to upgrade.”

Neil Foster-McGregor, principal economist at ADB, presenting the main findings of the report, said production processes are becoming increasingly capital-intensive.

He added that geopolitics and rising sustainability demands will reshape GVCs.

He said future competitiveness will depend on resilience, sustainability and firm capabilities, not just low labour costs.

The dollar fell against most major currencies on Wednesday after the US signalled it may be nearing a deal with Iran, while the Japanese yen suddenly jumped to a more than two-month high as markets braced for ​another round of official buying from Tokyo.

The yen rose by as much as 1.8 percent earlier in a swift ‌move that left the dollar at a session low of 155, around its weakest since February 24. The dollar had earlier broadly strengthened against a range of currencies before a sudden move lower against the yen, which triggered speculation of another round of intervention.

Japanese Finance Minister Satsuki Katayama ​earlier in the week warned against speculative moves in foreign exchange, after a brief jolt higher in the yen sparked ​speculation Tokyo had again intervened to support the currency.

“As I have said repeatedly, we will take decisive measures against speculative moves, in accordance with the statement signed between Japan and the United States last year,” Katayama told ​reporters after the Asian Development Bank’s annual meeting in Uzbekistan. The Ministry of Finance of Japan could not be reached immediately for ​comment during a local holiday.

Part of the problem for Japanese authorities in staving off persistent weakness in the yen lies in markets that are beyond their immediate control, such as higher US Treasury yields, which favour the dollar, and oil, CIBC Capital Markets head of G10 FX strategy Jeremy ​Stretch said.

“It’s very tough to get the yen down if oil is going to remain elevated and/or US Treasury yields ​are, in terms of 10-years, you’re nearer 4.4 percent than you are 4.2 percent. So that was always going to be the difficulty the Japanese were ‌going to have.

The fact that we’ve been able to get it back to 156.5, given the fact that we’ve still got 10-year yield at 4.42 percent and oil is still closer to $100 than 75, I guess, is some degree of success,” he said.

Most other major currencies also extended gains as dollar weakness persisted, after President Donald Trump said he would briefly pause an operation to ​help escort ships through the Strait ​of Hormuz, citing progress towards ⁠a comprehensive agreement with Iran.

That came shortly after US Secretary of State Marco Rubio said on Tuesday that the United States had achieved its objectives in its military campaign against Iran.

HSBC's Bangladesh operations posted a 23% decline in net profit in 2025, weighed down by higher provisions against rising classified loans and lower income from government treasury investments.

According to the multinational bank's audited financial statements for 2025, net profit after tax stood at Tk823 crore, down significantly from Tk1,086 crore in 2024.

The decline in profit was largely driven by a sharp increase in provisions. HSBC set aside Tk265.96 crore in provisions in 2025, up 149% from the previous year. At the same time, income from treasury bond holdings fell 17% year-on-year.

During the year, the bank's classified loans surged 134% to Tk748.20 crore, accounting for 3.99% of its total loan portfolio.

Summit Alliance Port Limited, one of the country's leading inland container terminals and logistics operators, reported a 26% decline in export freight earnings in the July-March period of FY26, weighed down by weaker export container handling and a challenging global trade environment.

In its unaudited financial statement for the first nine months of the fiscal year, the company said export freight income fell to Tk310.64 crore. The downturn in exports dragged overall performance, with consolidated revenue – covering both export and import container freight and handling – falling 18% to Tk499.88 crore.

Net profit declined sharply by 31% to Tk38.27 crore, while consolidated earnings per share dropped to Tk1.62 at the end of March 2026, compared to Tk2.34 in the same period of the previous fiscal year.

The company attributed the weaker performance largely to its subsidiary Container Transportation Services Limited (CTSL), which faced lower cargo volumes, higher operating costs, and pressure from geopolitical tensions in the Middle East.

It also cited subdued export activity and heightened competition in the freight forwarding segment, which compressed margins despite efforts to expand services.

The trend aligns with broader export weakness, as Export Promotion Bureau data showed national export earnings fell nearly 5% to $35.39 billion in the same period.

CTSL remains the group's main revenue driver, leaving overall performance highly sensitive to export volumes and global trade conditions.

In January 2025, the company entered a strategic partnership with Germany's Hellmann Worldwide, which subscribed to 3.33 lakh CTSL shares at Tk66.50 each to strengthen regional logistics capacity. However, the benefits have yet to offset weaker demand and lower freight rates.

Yesterday, Summit Alliance Port shares fell 1.75% to Tk50.40 on the Dhaka Stock Exchange.

People pay through their nose as the persistent Gulf turmoil impacts Bangladesh's consumer-price indices with overall inflation having hit a near-double-digit high at 9.04 per cent in latest official count.
FE

Official data released Wednesday for the past month shows the most significant pressure comes from transport sub-sector, where inflation jumped to 9.31 per cent in April in a sharp rise from the 7.47-percent rate recorded in March.

This 1.84-percentage-point surge in the major livelihood parameter is largely fuelled by higher costs for imported fuels amid the Mideast mayhem, as evident from the Bangladesh Bureau of Statistics (BBS) statistics.

The government last month increased prices of all types of fuel oils and gas for the domestic market, which heated up the inflation, analysts say.

Meanwhile, the overall inflation rate in April increased by 0.33-percentage points to 9.04 per cent from 8.71 per cent in March this year, the official data show.

In the same period last year (April 2025), the inflation rate was reported 9.17 per cent, before a little downturn.

Since the consumer price index (CPI) in transportation sub-sector has risen significantly, the rate of inflation in the non-food sector climbed to 9.57 per cent in April from 9.09 per cent in March.

On the other hand, the inflation on food account also increased slightly to 8.39 per cent last month from 8.24 per cent in the previous month of March, according to the BBS data.

Inflation rates both in rural and urban areas marked rise in the past month of April.

In villages, the rate increased by 0.33-percentage points to 9.05 per cent in April from 8.72 per cent in March.

In the urban areas also the rate increased by 0.34-percentage points to 9.02 per cent last month from 8.68 per cent recorded in March.

Despite the monthly point-to-point increase, the 12-month moving average inflation showed a slight downtrend, settling at 8.59 per cent for the period of May 2025 to April 2026, compared to 10.21 per cent for the same period a year earlier.

This suggests that while recent shocks are pushing prices up, the long-term average has been cooling compared to the previous year.

The latest data from the BBS reveal a widening gap between the cost of living and worker earnings.

The national inflation of 9.04 per cent in April outweighs Wage Rate Index (WRI) growth at 8.16 per cent. This suggests that, on average, the purchasing power of low-paid skilled and unskilled labourers is being eroded as price increases (especially in transport and non-food items) are outstripping wage hikes.

Meanwhile, the WRI marked a rise to 8.16 per cent in the past month from 8.09 per cent in March, the data show.

The BBS breakdown shows wage growth varies significantly across different sectors of the economy. The highest wage growth was recorded at 8.31 per cent in the services sector among the three broad heads.

Despite being the strongest performer (services), it still falls nearly 1.0-percentage-point short of the 9.31 per cent inflation seen in the transport sector that many service workers rely on.

The wages grew by 8.19 per cent in agriculture sector in April, up slightly from 8.11 per cent in March.

In the industrial sector, the slowest growth was recorded at 8.09 per cent in April, making industrial workers among the most vulnerable to the recent spike in non-food inflation (9.57 per cent).

Wage growth also shows geographical disparities, with Dhaka Division reporting an increase of 8.64 per cent while Barishal lagging behind at 8.04 per cent.

Bangladesh's trade balance deteriorated significantly during the July-March period of the current fiscal year, driven by a decline in merchandise exports, according to central bank data.
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The Bangladesh Bank, which compiles the balance-of-payments (BoP) data, reported that the trade deficit stood at US$19.2 billion during the period under review.

Export earnings fell by 4.4 per cent year-on-year to $32.3 billion, while import payments rose by 4.6 per cent to $51.6 billion, the data showed.

Imports of fuel and fertiliser increased sharply.

Petroleum imports surged by 54.1 per cent and fertiliser imports by 40 per cent, partly reflecting price pressures linked to tensions and attacks involving Iran, the US and Israel in the Middle East, although a ceasefire is now in place.

Meanwhile, the current account deficit (CAD) narrowed on the back of strong remittance inflows during the period. The deficit stood at $397 million during July-March, compared with a deficit of $878 million in the same period a year earlier.

Remittances grew by 20.3 per cent to $26.2 billion, providing support to the external balance.

The financial account, another component of the BoP, recorded a surplus of $3.8 billion during the period, largely due to trade credit inflows.

Trade credit posted a surplus of $3.2 billion, compared with a deficit of $1.6 billion a year earlier.

Economists said the improvement in the current account position was mainly driven by robust remittance growth, while the financial account surplus reflected increased reliance on trade credit.

Dr Zahid Hussain, an independent economist, told The Financial Express that import payments rose partly due to trade credit arrangements, contributing to positive financial inflows.

According to him, some export proceeds were repatriated during the period, further supporting the balance of payments.

"Overall, the balance of payments situation remains favourable for the country at this moment," he said.

The overall balance of payments recorded a surplus of $3.7 billion during the period under review, compared with a deficit of $1.1 billion a year earlier.

The country's financial account recorded a surplus of more than $3.81 billion in the first nine months of the current fiscal year (FY26), a sharp increase from the $570 million recorded during the same period in the previous fiscal year.

Central bank data indicate that the repatriation of overdue export proceeds primarily drove this growth. The trade credit position, a key component of the financial account, shifted from a deficit of $1.61 billion in FY25 to a surplus of $3.23 billion during the July-March period of FY26. This reversal reflects an increase in the repatriation of previously stalled payments, providing a significant boost to the country's capital flows.

Trade deficit widens

Despite the strong financial account performance, the trade deficit widened by 24.16% to reach $19.17 billion at the end of March. This increase, amounting to approximately $4 billion over the previous year, was driven by a 4.60% rise in imports alongside a 4.40% decline in exports.

Import payments rose to $51.55 billion from $49.31 billion, while export earnings fell to $32.38 billion from $33.87 billion in the corresponding period of the prior year.

A notable factor in the rising import bill was the surge in petroleum imports, which grew by 81.10% to reach $936 million.

Zahid Hussain, former lead economist at the World Bank's Dhaka office, told TBS that while the trade credit position has significantly improved the financial account, there is no guarantee that this trend in trade credit will remain unchanged in the long term.

Current account deficit narrows

The current account deficit saw a marked improvement, narrowing to $397 million from $878 million in the previous fiscal year. This recovery was largely supported by a robust 20.30% growth in remittances, with the country receiving $26.20 billion in the first nine months compared to $21.78 billion in the prior year. In April alone, the country witnessed more than $3 billion in remittances, which experts believe has provided essential support to the balance of payments.

Zahid observed that although the current account balance remains negative, the situation is not yet concerning. He highlighted that the improvement in the current account is particularly significant given the increase in the trade deficit, largely credited to the influx of the greenback through secondary income and transfers.

Overall balance of payments returns to surplus

The overall balance of payments (BOP) moved into a surplus of $3.66 billion during the July–March period, a substantial recovery from the $1.10 billion deficit recorded in the same period of FY25.

This surplus suggests that the country is currently receiving more foreign exchange than it is paying out, which helps strengthen the external sector.

Zahid said, "The worst phase of the global economy has not yet had an impact on the balance of payments up to March."

The country’s trade deficit widened by 24 percent in the July-March period of the current fiscal year, due mainly to stronger import growth and weaker export earnings.

The gap between imports and exports stood at $19.17 billion in the first nine months of FY 2025-26, up from $15.44 billion in the same period a year earlier.

In the July-March period, import payments rose 4.6 percent year-on-year to $51.55 billion, according to Bangladesh Bank (BB) data.

Within this, petroleum imports increased sharply by 54 percent to $6.29 billion. Crude petroleum alone jumped 81 percent to $933 million, according to the central bank.

Economists linked the rise to volatile global fuel prices in March amid the US-Israel war on Iran and wider conflict across the Middle East.

During mid-March, crude oil prices climbed to about $102-$109 per barrel, compared with below $100 in the previous month, pushing up the import bill.

Export earnings fell 4.4 percent to $32.38 billion over the same period.

Despite the wider trade gap, the country’s current account deficit narrowed. This indicator tracks net flows of goods, services and income between a country and the rest of the world.

The deficit stood at $397 million in July-March of FY26, compared with $878 million a year earlier.

Industry insiders said higher remittance inflows helped ease pressure on the current account. Expatriates sent more than $3 billion a month for five consecutive months up to April, according to BB data.

The financial account also strengthened during the period. It rose to a surplus of $3.81 billion from $570 million a year earlier, reflecting increased inflows from loans, credit and other cross-border financial transactions.

Analysts said the surplus was largely driven by borrowing and trade credit rather than stable investment. Foreign direct investment remained moderate, while portfolio investment stayed negative, reflecting weak investor confidence.

During the period, net foreign direct investment stood at $1 billion, down from $1.31 billion in the same months of the previous fiscal year.

Net trade credit rose to $3.23 billion during the nine months, compared with a negative $1.61 billion a year earlier.

According to industry insiders, the growing reliance on debt-based inflows could increase repayment risks in the future.

These developments together pushed Bangladesh’s overall balance of payments (BoP) into a surplus of $3.65 billion, compared with a deficit of $1.10 billion in the same period last year.

Bangladesh today (6 May) called for increased Chinese investment in priority infrastructure projects, including the long-discussed Teesta River initiative, while reaffirming its firm support for the One-China policy during high-level talks in Beijing.

The issues were discussed during a meeting between Foreign Minister Khalilur Rahman and his Chinese counterpart Wang Yi, held as part of Rahman's first official visit to China from 5 to 7 May.

According to a joint press release, Bangladesh sought China's "involvement and support" in the Teesta River Comprehensive Management and Restoration Project (TRCMRP), aimed at improving water management, preventing floods and boosting agricultural productivity in northern regions.

The move reflects Dhaka's broader effort to attract foreign investment for critical infrastructure. China expressed willingness to deepen practical cooperation and encouraged its enterprises to invest in Bangladesh, particularly in infrastructure, water resources, digital economy and green development.

During the talks, Bangladesh reiterated its commitment to the One-China principle, affirming that Taiwan is an inalienable part of China's territory and expressing opposition to any form of "Taiwan independence."

Wang Yi described Bangladesh as a "reliable partner" and said Beijing is ready to align its Belt and Road cooperation with Bangladesh's development priorities, adding that China's engagement in South Asia is not directed at any third party.

Bangladesh welcomed Chinese enterprises and pledged to ensure a "stable, sound and predictable" business environment to facilitate investment. It also appreciated China's continued support for its development.

The two sides also exchanged views on regional and global issues, including the Middle East situation and the Rohingya crisis. China reiterated support for continued dialogue between Bangladesh and Myanmar to facilitate the repatriation of displaced people.

Both countries reaffirmed their commitment to multilateralism, the principles of the United Nations Charter, and peaceful dispute resolution, while pledging to further strengthen their comprehensive strategic cooperative partnership.

Earlier today, Rahman also met Wang Huning, chairman of the Chinese People's Political Consultative Conference, where both sides emphasised expanding cooperation in trade, investment, connectivity and development.

Foreign affairs adviser Humayun Kabir and Bangladesh Ambassador to China Md Nazmul Islam were present at the meeting.

Rahman arrived in Beijing on Tuesday on a three-day official visit aimed at strengthening bilateral ties and enhancing high-level engagement.

Gold prices climbed more than 2 percent ‌on Wednesday after US President Donald Trump indicated a possible peace deal may be reached with Iran, sending the dollar and crude lower as inflation concerns ebbed somewhat.

Spot gold jumped 2.7 percent to $4,680.91 per ounce, ​as of 0811 GMT, having hit its highest since April 28. US gold ​futures for June delivery rose 2.7 percent to $4,693.20.

US President Donald Trump said on Tuesday he would briefly pause an operation to help escort ships through the Strait of ​Hormuz, citing progress toward a comprehensive agreement with Iran.

Iran will only accept “a fair and comprehensive ​agreement” in its negotiations with the US on ending the war in the Middle East, its foreign minister said on Wednesday.

Gold gained as “oil prices retreated on reduction in geopolitical risk premium, after the US ​confirmed that the ongoing fragile ceasefire between Iran is still intact, despite the skirmish that ​was seen at the start of this week,” Kelvin Wong, a senior market analyst at OANDA, said.

“Any signs ‌of re-escalation of tension between the two of them, you will see gold prices seeing some form of profit-taking, or for short-term speculators to unwind their near-term net long position in gold,” Wong added.

A weaker US currency makes dollar-priced metals cheaper for holders of other ​currencies.

Elevated crude oil prices ​can stoke inflation, increasing the likelihood of higher interest rates. While gold is considered an inflation hedge, high interest rates make yield-bearing assets more attractive, weighing ​on its appeal.

Investors await US non-farm payrolls later this week which will ​test whether the economy remains resilient enough to keep the Federal Reserve’s monetary policy on hold.

“Factors such as economic growth risks, worsening geopolitical relations, currency volatility and downside risks to equity markets will continue ​to support gold’s role as a portfolio diversifier,” ANZ ​said in a note.

Oil prices extended declines ​on Wednesday, slumping to two-week lows after a Pakistani source said that the ‌United States and Iran were nearing an initial peace deal.

Brent crude futures fell by $9.08, or 8.3%, to $100.79 a barrel by 1205 GMT, having earlier dropped below $100 for the first time since 22 April. US West Texas ​Intermediate lost $9.12, or 8.9%, to $93.15.

Both benchmarks were on track for their biggest daily ​declines in absolute and percentage terms since mid-April and hit their lowest in ⁠two weeks, having shed about 4% in the previous session.

A source from mediator Pakistan ​said the United States and Iran were closing in on an agreement on a one-page memorandum ​of understanding.

US media outlet Axios reported that the US expects Iranian responses on several key points in the next 48 hours, citing sources saying this was the closest the parties had come to an agreement ​since the war began.

Iran had said earlier that it would only accept a fair and comprehensive ​agreement.

The US military said on Monday that it destroyed several Iranian small boats as part of efforts to ‌help stranded ⁠ships to exit the Strait of Hormuz.

Crude oil supply losses from halted marine traffic through the strait since the war began in February have driven up prices, with Brent trading last week at its highest since March 2022.

The Strait of Hormuz closure has resulted in a ​drawdown in global oil ​and fuel inventories ⁠as refineries try to offset production shortfalls.

US crude oil inventories fell for a third week, while gasoline and distillate stocks also declined, market ​sources said on Tuesday, citing American Petroleum Institute figures.

Crude stocks fell ​by 8.1 ⁠million barrels in the week ended 1 May, the sources said. Gasoline inventories were down by 6.1 million barrels from a week earlier and distillate inventories fell by 4.6 million barrels, the ⁠sources said.

Official ​numbers from the EIA, the statistical arm of the ​US Department of Energy, are due at 1430 GMT.

Vacuum cleaners and vapes could get more expensive if the Iran war drags on for much longer, Chinese factory owners and traders warn, as the world’s manufacturing hub reels from “crazy” costs.

Weeks of US-Israeli strikes on Iran and the effective closure of the Strait of Hormuz have choked Asia’s oil supply, stymieing the production of plastic -- derived from oil -- across the region.

Manufacturing giant China has been comparatively sheltered from fuel shortages thanks to oil reserves and renewable energy, but local factories are picking up a ballooning raw materials bill.

“Basically, we’ve been losing money on all our orders,” said Bryant Chen, a manager at vacuum cleaner factory RIMOO in southern Guangdong province’s Foshan.

The price of plastic has risen roughly 50 percent since before the Iran war, Chen told AFP as workers behind him fastened suction tubes to metal tanks.

“The costs of the products that we are making are being very greatly affected,” the 42-year-old said, listing plastic, copper for the vacuum’s motor and raw materials in its power cords.

“Typically at this time we’d be entering peak season, but compared to the same period previously, shipment and production data aren’t very optimistic.”

Two hours away, plastic traders in storage hub Zhangmutou said price fluctuations were the worst they’ve seen in decades.

“It has never been this crazy,” said Li Dong, 46, who entered the industry two decades ago.

The plastic, rice-sized pellets he buys for local phone case and EV battery factories jumped wildly in March, triggering days of panic that jammed the small town’s roads as factories rushed to stock up.

‘MUTUAL STATE OF DECLINE’

Exporters in Zhangmutou showed AFP a vast range of products their pellets would become, including drones and badminton birdies.

One trader sifted through pink, green and purple beads that she said would be moulded into e-cigarette casings sold in the Middle East.

The Iran war has hit plastic production even harder than bottlenecks caused by the Covid pandemic, when ships could not come and go from China, Li said.

Some sellers cashed in on the plastic panic, he added, fighting to take advantage of surging costs.

Li said the price of plastic had dropped around 10 to 20 percent from its height, but he cautioned against further oil hold-ups.

“The factories we supply to will suffer the most because their direct costs will rise,” he said.

For exporters, the Middle East crisis has added to the hangover still lingering from Donald Trump’s sweeping global tariffs last year.

The US Supreme Court struck down those levies as illegal, but tolls on Chinese goods entering the US still sit at around 20 percent.

On the outskirts of Guangzhou, one garment factory owner lamented the chaos triggered by the US President’s trade war.

Overseas clients are afraid to place orders, while Chinese manufacturers cannot pin down changing costs.

“As a result, everyone is in a mutual state of decline,” garment boss Zhou, 55, said.

While 80 percent of his clients have returned, the fabrics scattered on his factory floor made into sweatpants headed for Europe and North America have risen 10 to 20 percent in cost due to the Middle East war.

As overseas orders dropped, seamsters went months without a job.

‘TENSIONS RISE, ORDERS DISAPPEAR’

Migrant worker Jingjing returned to her hometown in Hubei province for two months, where she made half the 400 yuan ($60) she now earns in Guangzhou’s garment factories.

“When tensions rise... orders suddenly disappear,” the 42-year-old said.

But this year she said she always has something to do.

In a damp back alley, Jingjing joined job-seekers milling about leisurely, haggling for higher wages while garment bosses perched on scooters brandished hiring signs, desperate for day labourers.

Chen, the vacuum factory manager, said he was “still worried” about surging shipping costs should the Iran war drag on.

“If shipping costs rise, it will cause the final costs for our customers to increase sharply,” he said.

They “will have no way to sell normally, because the costs are just too high”.

Chen said RIMOO plans to expand to other markets beyond the Middle East where around 60 percent of its customers are based.

“We are still optimistic,” he said. “The market demand still exists.”

But analysts warn the war’s impact on costs will be felt for months.

“The problem is all of these costs will filter through the supply chains for the rest of the year,” said supply chain consultant Cameron Johnson.

“The longer it goes on, that kind of cascades into much bigger problems, particularly if there’s not enough oil in general to run stuff.”

An alliance representing more than 12,000 depositors of six distressed non-bank financial institutions (NBFIs) has urged the Bangladesh Bank (BB) to take immediate steps to facilitate the return of their long-frozen funds.

The six NBFIs -- FAS Finance, Premier Leasing, Fareast Finance, Aviva Finance, People’s Leasing, and International Leasing -- are now under liquidation.

Over the years, several NBFIs collapsed amid widespread mismanagement, weak governance, and heavy exposure to non-performing loans. Poor regulatory oversight and delayed action by the central bank deepened the crisis and ultimately led to liquidation.

Yesterday, in a memorandum submitted to the BB governor in Dhaka, the platform titled “Alliance of Depositors of 6 NBFIs for Recovery” said depositors have been facing acute financial hardship, mental distress, and a humanitarian crisis, as their savings have remained locked up for nearly seven years.

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

As the regulator of banks and NBFIs, the central bank bears the highest responsibility to safeguard public deposits, the alliance said, calling for urgent intervention to resolve the crisis.

The alliance outlined three key demands, including an immediate announcement of a clear, realistic, and actionable roadmap in line with the previously declared July 2026 deadline for refunding depositors’ money.

The other two demands are the introduction of an effective mechanism to prioritise repayments for individual depositors and the arrangement of a meeting between the governor and three to four representatives of the depositors to formally present their demands.

The depositors expressed hope that the central bank would take swift, effective, and humane measures to address the crisis and ensure the protection of public savings.

They also called upon the government, the central bank, and all relevant authorities to take urgent and effective steps to restore confidence in the financial sector and ensure justice for affected depositors.

In January this year, BB decided to liquidate six of the country’s 35 non-bank financial institutions due to poor financial health.

The current BB governor, Md Mostaqur Rahman, appointed by the BNP-led government, has said reforms will continue, including those liquidations.