LPG operators today (28 September) assured Power, Energy, and Mineral Resources Minister Iqbal Hassan Mahmood Tuku that there is no shortage of liquefied petroleum gas (LPG) in the country's market.

They gave the assurance while presenting and reviewing the LPG sector's overall situation at a meeting organised by the ministry's Energy and Mineral Resources Division, according to a press release.

The meeting, chaired by the minister, reviewed the country's current LPG imports, stock and supply situation, market prices, and related issues.

According to data provided by a source at the National Board of Revenue (NBR), Bangladesh imported 157,760 tonnes of LPG in August and 118,742 tonnes between 1 and 22 September.

The data presented at the meeting showed that LPG supply and stock levels in the country are currently satisfactory.

The energy minister urged all concerned to ensure that consumers do not face supply shortages despite adequate stocks.

He also warned against hoarding LPG for illegal purposes and creating public hardship.

The operators assured the minister of their full cooperation in this regard.

The minister also heard about various difficulties faced by operators in running their businesses and instructed the Energy and Mineral Resources Division to take steps to resolve them quickly.

Checking digital heist and cyberattack into financial institutions is one of core objectives of the comprehensive project.

Bangladesh Bank is going to execute the scheme to strengthen safeguards for the country's financial sector through technology-enabled banking, the officials said Monday.

"Under the US$400-million financial support from the World Bank, the central bank is going to implement the Financial Sector Support Project-II (FSSP-II) for conducting massive reforms and improvement in the country's banking operations," said one official.

Bangladesh Bank officials have said they will strengthen supervisory capacity and ICT systems through development of ICT infrastructure and capacity building of the financial sector in Bangladesh.

At a cost of Tk 12.76 billion, the project is likely to be approved by the Executive Committee of the National Economic Council (ECNEC) at its meeting today (Tuesday).

Following numerous challenges facing the country's banking sector, including high levels of NPLs, weak governance, liquidity and capital pressures in some banks, and outdated information and communication technology (ICT) systems, the central bank has undertaken the project.

The NPLs in Bangladesh's banking sector ballooned to Tk 6.06 trillion as of June 2026, representing 32.78 per cent of total disbursed loans, central bank data showed.

According to the BB, the project will also provide advisory and consultancy services to improve institutional capacity and procurement related to ICT infrastructure.

A senior central bank official said, "Strengthening the financial-sector safeguards, technology-enabled banking and banking-sector reforms are among the core objectives of the project."

On completion of the project, the country's banking system will be "very tech-driven and scam like the reserve heist in 2016 would be checked", he hopes.

The central bank will strengthen financial-sector safeguards and banking-sector restructuring, including the financial-sector safeguards, bank resolution and reform of state-owned banks.

It will also seek to enhance the financial capacity of the Deposit Insurance Trust Fund (DITF) and improve the effectiveness of bank resolution and restructuring.

The BB official has said outdated ICT infrastructure and a lack of integrated information management have made it difficult for regulators to respond effectively to emerging risks, including cyberattack and trans-border financial risks.

"These challenges have collectively threatened depositor confidence and financial and economic stability," he added.

The project is being taken as a continuation of the first phase of the Financial Sector Support Project (FSSP), implemented by Bangladesh Bank.

In the next phase of the FSSP-II, the strengthening of the financial-sector safeguards through Performance-Based Conditions (PBCs) and facilitating banking-sector-reform activities will be continued.

"Increasing the financial capacity of the DITF for deposit-insurance operations, ensuring effective implementation of bank resolution and restructuring, including reducing payment periods, and improving governance and financial stability of state-owned banks will be our major reform areas," the central banker said.

The global financial ecosystem has long embraced mutual funds as a means to cater diverse financial goals of individual investors.

Globally, mutual funds are a cornerstone of household financial assets. In the USA, more than half of households own mutual funds, offering a mix of equity, debt and hybrid funds that cater to varying financial goals. Mutual funds are also integral to individual savings and pension plans in other developed economies, while in India, small and regular investments through Systematic Investment Plans (SIP) have made mutual funds an immensely popular vehicle for retail investors.

Bangladesh's retail investors have traditionally relied on Sanchaypatra, bank deposits and direct equity investments. While these avenues may serve investors at certain stages of life, they cannot fully address the varied financial needs across different life cycles. Despite their early emergence in the 1980s, mutual funds remained largely institution-centric and did not reach out to individual investors with a sufficiently broad window of investment opportunities aligned with their evolving financial goals.

Retailizing mutual funds is not merely about growing industry assets; it is about institutionalizing household savings with professional management and building a more stable and deeper capital market. Recent reform initiatives, including the higher mutual-fund investment limit eligible for tax rebate up to BDT 75 lac and the flat 15% final tax on dividend income from both the listed shares and mutual funds, are constructive steps in this direction. We warmly appreciate the Government of Bangladesh, the Special Assistant to the Prime Minister for Investment and Capital Market Affairs, BSEC and NBR for these timely and pragmatic policy initiatives. The next phase should address the structural issues that still restrict the industry's scale; such as manual investment processes, limited retail distribution capacity, insufficient product categorization and the need for a deeper supply of quality securities.

The Evolution of Bangladesh's Mutual Fund Industry and the Shift toward Retailisation

The mutual fund industry in Bangladesh traces its roots back to 1980 with the launch of the First ICB Fund, a closed-end mutual fund introduced by the state-owned Investment Corporation of Bangladesh (ICB). Until the late 1990s, ICB remained the sole asset manager serving largely the institutional investors.

Over the last decade, the market has gradually become more retail-oriented with the entry of professionally managed, corporate-backed asset managers. This transition has been supported by product and service innovations aimed at making mutual funds more accessible and relevant to individual investors. A key development was the launch of online investment and servicing platforms, in 2017, which helped reduce some of the paperwork and operational frictions associated with mutual fund transactions and the introduction of SIP in 2018, which allowed retail investors to participate through small, regular contributions rather than large lump-sum investments.

The industry also began to diversify beyond traditional equity-focused products. The introduction of debt mutual funds in 2021, introduced under the Special Purpose Fund framework of the Mutual Fund Rules, expanded investment access to government securities and other fixed-income instruments.

These developments signal a shift toward retail participation, product diversification and financial inclusion. Yet mutual funds remain significantly underpenetrated, constrained by low awareness, operational frictions, limited retail access and the dearth of quality securities. Further regulatory reform, digitalization and stronger sales and distribution capabilities are prerequisite to channel retail savings into professionally managed, long-term investment products.

Priorities for building a Robust Mutual Fund Industry through Retailisation

Now the priorities for retailising the mutual fund are:

Transforming the digital landscape for investment in mutual fund: A fully digital and integrated distribution ecosystem is essential to expanding retail participation from current manual, wet-signature-driven CDBL ecosystem with no API connectivity. As demonstrated by India, seamless onboarding, transactions and servicing can significantly accelerate industry growth. The investor experience should be as simple and accessible as digital banking or a bKash DPS. Such enhancements would instantly place mutual funds digitally in front of millions of people.

Strengthening retail distribution & sales: Expanding Bangladesh's nascent mutual fund industry requires strong distribution networks and trained in-house sales teams to educate investors on the risks, benefits and suitability of different investment options. The regulatory framework should allow AMCs with sufficient flexibility within the maximum Total Expense Ratio (TER) to develop these capabilities, consistent with practices in mature markets.

Broadening mutual fund categories through clearly defined hybrid funds: Bangladesh's mutual fund industry remains largely equity-centric, limiting product choice and leaving many retail investors overly exposed to equity risk. The Mutual Fund Rules should enable standardized Hybrid fund categories, under both conventional and Shariah modalities, to serve different risk-return needs. Clear categorization would improve product comparability, help investors select funds aligned with their risk appetite and investment horizon, and support both investor protection and product innovation.

Market listings with the supply of quality equity and debt securities: Market depth is necessary for mutual funds to mobilize household savings efficiently. Therefore, mutual fund retailization and capital-market supply-side reforms should move together for ensuring a robust capital market.

The Path Forward- Building Institutional Strength Through Retail Savings

Bangladesh's stock market remains highly retail-centric, with around 85% of turnover generated by individual investors. The priority should be to channel more household savings through professionally managed funds, improving diversification and reducing speculative volatility.

India demonstrates the potential of this model, with a mutual fund industry of nearly USD 0.9 trillion supported by strong SIP inflows and deep domestic liquidity. Bangladesh remains far smaller, but the gap highlights substantial growth potential. With per capita bank deposits roughly half of India's, reaching even half of India's per capita mutual fund assets could imply a Bangladesh mutual fund industry of around USD 45-50 billion, compared with roughly USD 1 billion today.

With an enabling regulatory framework and sustained policy support, Bangladesh can develop a substantially larger mutual fund industry, converting household savings into long-term institutional capital and supporting a deeper, more stable capital market.

Bangladesh’s COP31 country position paper must reflect workers’ rights, social protection, safety, decent work, skills development and climate resilience as part of its just transition agenda.

Climate change is already affecting workers through heat stress, lost hours, unsafe workplaces and livelihood risks.

The recommendations and observations were made at an event titled ‘Workshop on Worker Position Paper for COP31’ held at a city hotel.

Manusher Jonno Foundation (MJF) and National Alliance for Just Transition Bangladesh (NAJTB) jointly organised the workshop, supported by Oxfam and Bangladesh Labour Foundation (BLF), joint Secretariat of NAJTB.

Organisers said this was part of a series of consultations and the next workshops will be held with youth and government stakeholders.

Later, the recommendations will be consolidated and aligned with the government’s COP31 position paper for final submission, they noted.

Speaking there, Elisa Benistant Fremigacci, Technical Officer, Just Transitions, ILO Bangladesh, said COP31 is being framed as the “COP of implementation” and workers in Bangladesh must push for policy commitments to turn into action.

She stressed dedicated financing, meaningful dialogue, direct representation and accountability for implementing the just transition chapter of the NDCs (Nationally Determined Contribution) .

Md Muhtasim Billah, senior program officer, Oxfam Bangladesh, said just transition cannot focus only on energy shift adding that it must safeguard workers’ rights, ensure social protection and secure decent work standards across sectors.

AKM Ashraf Uddin, executive director of BLF and member secretary of NAJTB, said direct participation of worker and employer representatives in COP negotiations is a major step forward.

He said NAJTB, bringing together nearly 60 civil society and trade union organisations across around 20 sectors, is preparing a unified Workers’ Charter of Demands for COP31.

Presenting the keynote, Mir Mohammad Ali, assistant professor at Sher-e-Bangla Agricultural University, said extreme heat waves and climate hazards are causing serious losses to workers and the economy.

He recommended embedding the Workers’ Charter in the government’s position paper, including paid heat-rest breaks, social security, skills development and worker representation in the official delegation.

Zubaer Alam, programme officer at BLF, said youth groups, trade unions and government committees will be engaged by mid-October to prepare a grounded Workers’ Position Paper.

Pablo Narudha, project coordinator of Fashion Forward at MJF, said MJF has worked with workers for more than two decades to protect their fundamental rights, and workers’ priorities must be reflected in national climate policy.

Wasiur Rahman Tonmoy, Lead, Youth and Social Cohesion at MJF, said workers’ voices must be reflected in clear, evidence-based and actionable language.

He expressed MJF’s commitment to continue to promote human rights through worker-led evidence, youth engagement and policy advocacy.

Syed Sultan Uddin Ahmed, Executive Coordinator of NAJTB and Executive Director of BILS, emphasised incorporating workers’ demands into the COP31 position paper.

The Bangladesh Association of Publicly Listed Companies (BAPLC) has proposed a clear and measurable Capital Market Development Roadmap for 2026-30, with specific priorities, targets and timelines to ensure policy stability and regulatory predictability.

The proposal was made at a meeting between BAPLC and the Bangladesh Securities and Exchange Commission (BSEC) at the commission's Agargaon office on 24 September.

BAPLC President Riad Mahmud led the association's delegation, while BSEC Chairman Masud Khan and Commissioners Tanwir Habib Rahman, Md Nafeez Al Tarik and Hossain Sadat attended the meeting.

The association said the roadmap should be developed through consultations with all relevant stakeholders and provide a long-term framework for coordination among the regulator, stock exchanges, listed companies, institutional investors and other market participants.

It proposed focusing on improving IPO quality, increasing institutional investment, developing corporate bonds and other investment products, and improving market liquidity.

More flexibility in IPO proceeds

BAPLC proposed raising the existing 30% limit on the use of IPO proceeds for loan repayment under the Public Offer of Equity Securities Rules 2025.

It said many potential issuers have financed business expansion through long-term industrial loans and should therefore be allowed greater flexibility to use IPO proceeds to repay loans, including classified or rescheduled loans, subject to proper disclosure, regulatory oversight and investor protection.

Same-group executives

The association also sought an exception to the Corporate Governance Code provision that bars key executives of a listed company from simultaneously holding executive positions in another company.

BAPLC proposed allowing such arrangements within the same corporate group, citing the prevalence of group and family-owned businesses in Bangladesh.

It suggested safeguards including board approval, prior BSEC approval, proper disclosure and compliance with conflict-of-interest and related-party transaction rules.

Action against 'AGM parties'

BAPLC urged BSEC to take action against what it described as "AGM parties" who allegedly buy nominal shares before record dates and later demand money or other benefits from companies ahead of annual general meetings.

The association said such groups may create disorder or disrupt AGMs if their demands are not met, affecting genuine shareholders and corporate governance.

It called for preventive measures and regulatory action against the practice.

Surveillance, buybacks and board diversity

BAPLC also called for stronger surveillance and enforcement against market manipulation, insider trading and other irregularities.

It proposed regulatory frameworks for employee stock option plans and share buybacks, saying these could provide additional options for listed companies and investors.

On female independent directors, the association recommended shifting from profession-based eligibility to a competency-based approach. It suggested considering expertise in technology, artificial intelligence, cybersecurity, engineering, manufacturing, ESG, climate risk and digital transformation.

It also proposed a National Independent Directors Talent Registry and a Board Skills Matrix to better match directors' expertise with companies' needs.

Other proposals included reviewing CIB reporting requirements for independent directors, clarifying the definition of beneficiaries under the Workers' Profit Participation Fund, and allowing companies to allocate 1% of expenditure to CSR activities.

The BAPLC document presented the proposals for discussion with BSEC. It did not indicate that the commission had formally accepted the proposed roadmap or set a timeline for its implementation.

Bangladesh’s bond market is growing as banks and companies show greater interest in issuing bonds. But the market remains far smaller than its potential, with concerns over weak accountability of bond issuers, auditors and credit rating agencies holding back growth.

To make the market more vibrant, sustainable and trustworthy, all stakeholders, including bond issuers, financial report auditors and credit rating agencies, must be held accountable, top industry executives said at a discussion titled “Unlocking Bangladesh’s Bond Market: Opportunities, Challenges” at The Daily Star Centre yesterday.
The Daily Star organised the event as part of its discussion series under the broad theme “Business & Beyond”. It was the fifth episode of the series.
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Credit rating is full of fun here. There is no credibility of the rating, so no one invests in bonds based on the rating, but issuers take the rating only for regulatory requirement.
Tanzim Alamgir, MD & CEO, UCB Investment.

The discussants called for greater market liquidity, increased institutional participation and easier access to bond investments. A top banker also recommended allowing banks to offer wealth-management services focused on sukuk and digital bond investments.

Tanzim Alamgir, managing director and chief executive officer of UCB Investment Limited, said liquidity remains a major challenge for the bond market. Bonds therefore need to be easy to trade.

He said a bond may offer a higher return than a bank deposit, but investors are reluctant to lock in their money for years if they cannot easily sell the security when they need cash.
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Audit firms should gain trust so that regulators and investors can trust their reports and take decisions quickly. In developed nations, regulators can approve bonds within a couple of days.
Nuzhat Anwar, MD of DSE.

The bond market should also be protected from the problems facing the banking sector, he said. Bonds should not be issued simply to repay bank loans.

Banks should stop providing “free money” through lending for their own interest and for the betterment of corporates, he said.

Banks will have to play a key role in making the bond market more vibrant and improving liquidity. Their wide branch network can be used to reach more investors.

Although banks fear losing fixed deposit receipt (FDR) deposits when customers invest in bonds, some banks have already started selling bonds and open-ended mutual funds, Tanzim said.

At the discussion, Nuzhat Anwar, managing director of the Dhaka Stock Exchange (DSE), said tradability is an issue that the Bangladesh Securities and Exchange Commission (BSEC) is working on. The commission is imposing conditions on banks to ensure the listing of bonds.

The DSE has already responded to industry recommendations by reducing bond listing fees by 80 percent, she said.

Tanzim also welcomed the reduction in listing fees, calling it a good initiative by the stock exchange.

On the demand side, the DSE is identifying potential institutional investors, such as mutual funds and pension funds, and examining the barriers they face. Removing these barriers could create sufficient demand for bonds, Nuzhat said.

The DSE is also considering changes to the bond market-maker process so that other institutions can play a bigger role.

Nuzhat said public awareness is also crucial for developing the bond market. Investors should consider investing through mutual funds, which could be more suitable for them.

The stock exchange is already promoting financial literacy among students at private universities to raise awareness about wealth management, she added.
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Wealth management should be open for banks; then they will be able to advise savers on how they can diversify their investments and what options they have, like equity, bonds.
Nazmul Ahsan, Head of Treasury, BRAC Bank.

Nazmul Ahsan, head of treasury at BRAC Bank, said banks have a wide branch network outside Dhaka, but current regulations limit their ability to offer wealth-management services.

He said banks should be allowed to provide wealth-management services so they can advise savers on diversifying their investments and explain different options, including equities, bonds, mutual funds, sukuk and FDRs.

Tanzim said the bond market must ensure that subscribers get their money back. He recommended starting bond trading with banks’ bonds to avoid bad experiences caused by defaults.

He also called for all bond defaults to be reported to the Credit Information Bureau (CIB), regardless of who subscribed to the bond. At present, only defaults to banks are reported, while defaults to individual investors are excluded.

Tanzim also said JPMorgan’s inclusion of Bangladesh in its new frontier bond index is a positive development. It has put Bangladesh on the radar of global investors and could help attract more foreign investment.

STRONGER STANDARDS NEEDED FOR TRUST

Nuzhat highlighted the importance of sovereign bonds, saying they are essential for creating a benchmark for the country. Although issuing sovereign bonds may seem costly now, they can bring long-term benefits, particularly by helping attract foreign investment, she said.

Bangladesh’s market capitalisation-to-GDP ratio is 11.55 percent, among the lowest in the region. It is well behind India’s 128.14 percent, Malaysia’s 96.51 percent and Singapore’s 122.23 percent.

Even smaller economies such as Sri Lanka, at 21.74 percent, and Pakistan, at 14.48 percent, have deeper equity markets.

Explaining the reasons for the weak bond market, Nuzhat said investors have little incentive to buy corporate bonds when more secure government bonds offer similar interest rates. However, the situation is improving as treasury bond yields are falling.

As of August this year, government treasury bonds continued to dominate the fixed-income segment of the DSE Main Board.

A total of 217 government bonds were listed, accounting for 3,384.51 crore certificates. They had an issued capital of Tk 3,38,450 crore and total market capitalisation of Tk 3,39,505 crore.

By comparison, the corporate bond market remained much smaller, with just 16 listed issues covering 29.07 crore certificates. These corporate bonds had an issued capital of Tk 4,939 crore and a combined market capitalisation of Tk 4,040 crore.

Nazmul said the government and companies should focus on sukuk, which are Sharia-compliant financial certificates representing partial ownership in an asset, project or business activity, as they have strong demand among investors.

He also recommended developing a digital platform that would allow people to invest in bonds through their mobile phones.

At present, buying government securities remains cumbersome and relies heavily on paperwork, he said.

Despite these challenges, government bonds have already created a broad investor base. This investor base should now be used to support the corporate bond market by offering investors good-quality corporate bonds, Nazmul said.

He also said Bangladesh needs asset valuation and appraisal firms, as there are currently no such firms in the country.

Nuzhat said audit firms must earn the trust of regulators and investors so that they can rely on audit reports and make quick decisions.

In developed countries, regulators can approve bonds within a couple of days because they trust audit reports, she said. Without reliable reports, regulators cannot easily verify whether an issuing company has properly made its purchases.

The DSE has already held discussions with auditors to improve audit quality, and the situation is improving, Nuzhat said.

At the same time, credit rating agencies also need to bring more discipline to their work, she added.

Tanzim said rating agencies should face punishment if they fail to maintain standards. Credit ratings should be based on merit rather than obtained simply to meet regulatory requirements.

“Credit rating is full of fun here. There is no credibility in the ratings, so investors do not invest in bonds based on them. Issuers obtain ratings only to meet regulatory requirements,” he said.

Bangladesh’s two private mobile operators, Robi Axiata and Banglalink, have taken opposing positions on the auction of E-GSM spectrum, the frequency range that can travel long distances and penetrate buildings effectively.

Banglalink has urged the telecom regulator to defer any major spectrum-related decisions until the country’s new Telecommunications Policy is finalised, while Robi is pressing for the spectrum’s immediate release.

The development comes as the Bangladesh Telecommunication Regulatory Commission (BTRC) has decided to hold an auction of the spectrum this year. The regulator in April decided to auction the E-GSM band, ranging from 880 MHz to 888.4 MHz, which is important for providing coverage in dense cities and remote areas.

For customers, the additional spectrum could help improve network coverage and capacity, particularly in areas where mobile networks face congestion or coverage gaps. It could also support more reliable mobile internet services as operators deploy additional capacity on their networks.

In a letter to the BTRC on September 21, Banglalink said the commission should “maintain the status quo on major spectrum-related decisions, including E-GSM” until the forthcoming policy is completed.

The operator argued that spectrum assignment, renewal, pricing, tenure and payment structures should align with the government’s long-term direction on connectivity and digital inclusion, and warned that acting before the policy is finalised “may create inconsistencies between immediate regulatory actions and the government’s long-term strategic direction”.

The operator also flagged that the new policy is expected to enable active infrastructure and spectrum sharing among operators, which could alter spectrum requirements and necessitate the refarming of existing frequency assignments.

Allocating new spectrum beforehand risked fragmentation or inefficiency, said the letter, signed by Banglalink’s Chief Corporate and Regulatory Affairs Officer Taimur Rahman.

Banglalink called for a comprehensive review of the spectrum-pricing framework — balancing public revenue against operators’ capacity to invest — once the policy takes effect, “through meaningful consultation with industry stakeholders”.

Robi Axiata PLC, however, took the opposite stance.

In a letter on September 24, Robi urged the BTRC to expedite the release and assignment of E-GSM spectrum “in the greater interest of consumers and digital connectivity”.

Robi said delaying access would postpone network capacity and coverage improvements for subscribers, and argued that releasing the spectrum “has limited bearing on the finalisation of the Telecommunications Policy” and would not prejudice future frameworks on infrastructure or spectrum sharing.

Robi contended that pricing concerns need not hold up the release, noting that these could be addressed through the spectrum renewal process scheduled for November 2026, according to the letter signed by its Chief Executive Officer and Managing Director Ziad Shatara.

It also emphasised that the contiguity of any assigned E-GSM spectrum was essential to unlock its technical and economic value, warning that fragmented assignments would undermine spectral efficiency and investment certainty.

The operator said it remained committed to “commensurate investments” in network expansion if granted regulatory certainty and contiguous spectrum.

Contacted, BTRC Chairman Major General Md Emdad-Ul-Bari (Retd) said the process would continue as it is and that the commission had already received approval from the ministry to proceed with it.

“This has nothing to do with the policy,” he said. “The government has given permission to set the pricing for the auction, noting that it is within BTRC’s jurisdiction.”

India is set to resume methanol exports to Bangladesh by waterway, with two cargo vessels carrying the chemical from Assam's Dibrugarh expected to sail for Bangladesh through the Brahmaputra River.

The shipment will mark the resumption of the waterway export route from Dibrugarh for the first time since India's independence, Assam Petro-Chemicals Ltd (APL) Chairman Bikul Deka said.

The two vessels, belonging to the Assam government's Inland Water Transport Department, have been leased by APL to transport methanol to Bangladesh through National Waterway 2.

Each vessel has been loaded with 27 containers, with each container carrying 20 tonnes of methanol. The vessels will therefore carry 540 tonnes each.

The vessels are expected to travel approximately 783km from Bogibeel to the Bangladesh border in around seven days.

The methanol will be transported from the newly developed Bogibeel Inland Water Transport Terminal to Dhaka, according to India's Ministry of Ports, Shipping and Waterways.

The development comes as India seeks to revive inland waterway connectivity with Bangladesh, with the Brahmaputra serving as a key route for transporting goods between the two countries.

Envoy Textiles Limited has recommended a 32.50% cash dividend, equivalent to Tk3.25 per share of Tk10 each, for the fiscal year ended 30 June 2026.

The company's board approved the audited financial statements and dividend recommendation at a meeting on 27 September, according to a price-sensitive information disclosure.

The textile manufacturer reported a net profit after tax of Tk138 crore for FY26, slightly down from Tk140.89 crore a year earlier. Its earnings per share (EPS) stood at Tk8.24, compared with Tk8.40 in FY25.

Despite the decline in profit, net operating cash flow per share (NOCFPS) rose sharply to Tk14.88 from Tk4.77. Net asset value (NAV) per share also increased to Tk60.33 from Tk58.32.

The company will seek shareholder approval for the dividend and audited financial statements at its annual general meeting (AGM) on 5 December. The record date has been set for 26 October.

The board has also proposed changing the company's name from "Envoy Textiles Limited" to "Envoy Textiles PLC", subject to shareholder approval at the AGM.

Bangladesh’s foreign project aid disbursement dropped sharply by more than 60 per cent year-on-year to $294.56 million in the first two months of the current fiscal year, according to provisional data from the Economic Relations Division (ERD).

According to the ERD’s Foreign Assistance Monthly Report for FY2026-27, Bangladesh received $294.56 million in project assistance disbursement during July-August, down from $750.07 million in the corresponding period of FY2025-26.

The latest disbursement comprised $291.37 million in loans and $3.19 million in grants, compared with $746.16 million in loans and $3.91 million in grants a year earlier, reports UNB.

Among the major development partners, the Asian Development Bank disbursed $128.72 million during the two-month period, followed by the International Development Association (IDA) with $73.96 million.

Japan disbursed $39.04 million, while India provided $30.30 million and Russia $20.65 million. Other development partners accounted for $1.89 million.

Meanwhile, foreign assistance commitments during the period stood at $240.39 million, slightly lower than $243.81 million in July-August of the previous fiscal year.

The latest commitments consisted of $143.28 million in loans and $97.11 million in grants. A major portion of the commitment, $236.88 million, came from development partners categorised Other than ADB, IDA, AIIB, India, China, and Russia, while Japan committed $3.51 million.

Besides, external debt servicing rose by nearly 4.8 per cent year-on-year, with the country paying $698.92 million during July-August 2026.

The amount was $667.11 million in the corresponding period of FY2025-26, showing an increase of $31.81 million.

Of the total debt servicing in July-August, Bangladesh paid $516.04 million in principal and $182.88 million in interest.

In the same period last fiscal year, principal repayment stood at $488.79 million and interest payment at $178.32 million.

In taka terms, the total debt servicing increased to Tk 86.26 billion (Tk 8,626.25 crore) in July-August from Tk 81.30 billion (Tk 8,130.87 crore) in the same period of FY2025-26, an increase of Tk 4.95 billion (Tk 495.38 crore).

Principal repayment rose to Tk 6,368.85 crore from Tk 5,957.50 crore, while interest payments increased to Tk2,257.40 crore from Tk2,173.37 crore.

The higher debt-servicing requirement came at a time when the flow of foreign project assistance declined significantly.

The figures cover the July-August period of FY2026-27 and are provisional, according to the ERD’s Foreign Aid Budget and Accounts (FABA) wing.

Bangladesh has embarked on a transformation journey to become a trillion-dollar economy by 2034, moving beyond the fragile economy inherited from the deposed regime, Prime Minister's Finance and Planning Adviser Rashed Al Mahmud Titumir has said.

Speaking as the chief guest at the biennial convention of the American Association of Bangladeshi Engineers and Architects (AABEA) in Detroit, Michigan, on Saturday, he said the government is pursuing a new development model based on recovery, restoration and reconstruction.

The model focuses on investment, production, employment and increased public investment in education and healthcare, the adviser said.

He said Bangladesh aims to establish itself as a competitive manufacturing hub through industrial diversification, higher productivity and technological advancement.

Titumir urged Bangladeshi-American engineers, scientists and technology entrepreneurs to act as a bridge to the US innovation ecosystem by connecting Bangladesh with leading universities, research laboratories, technology companies and investors.

He also called on diaspora professionals to mentor young Bangladeshi engineers, facilitate technology transfer, establish research partnerships and connect Bangladeshi start-ups with global capital and markets. "Your knowledge, credibility, experience and professional networks are themselves a form of investment in Bangladesh," he said.

The adviser proposed establishing a sustained platform to link the expertise of the Bangladeshi diaspora with universities, industries and entrepreneurs in Bangladesh.

"Let us transform individual Bangladeshi success in America into collective opportunity for Bangladesh," he said.

The convention was presided over by AABEA President Engineer Monir Zaman.

US Congresswoman Debbie Dingell, Michigan Supreme Court Justice Megan Cavanagh and Bangladeshi-American professionals from across the United States attended the convention.

The Iran conflict has put a spotlight on the somewhat murky world of refined fuel trading as the world battles constrained supply and record-high prices.

But it is AI that may bring the trading of diesel, gasoline and other products out of the shadows for good.
While crude oil trading practices have been established for decades, attracting a wide range of market participants, the same cannot be said of refined products.These markets, especially in the top-consuming region of Asia, have largely been the preserve of a rel-atively small group of traders who represent producers, refiners, shippers and large commodity hous-es such as Trafigura and Vitol.But every now and again, the market can shift, and AI may provide the tools needed to democratise this still opaque segment of the commodities trading universe.

The idea sounds simple: use AI to collate all available data, add in the knowledge of specialised traders and analysts, and generate trading ideas tailored to specific users and situations.

One of the leaders in this process is Sparta Commodities, a Geneva-based firm that initially made its name by providing data that allowed traders to work out arbitrage opportunities when moving fuels from one region to another.

Earlier this month, it launched Leonidas AI, a decision-making tool that aims to speed up the process by which traders use data to arrive at trading calls.

It takes all the available data from Sparta’s own sources and from other providers, adds in news and the experience of what the company calls a dedicated agent in order to make recommendations.

In a demonstration for Reuters, Leonidas AI was asked about the implications of any ban on US diesel exports for various markets.

Having come up with likely pricing moves, it was then asked to make trading recommendations.

It came up with five proposed trades, ranking them by conviction.

The recommendations also covered various markets in different countries, and there was even a freight recommendation.

This all took a matter of seconds, whereas up until now, it would have taken even skilled and experi-enced trading analysts some time to work out likely price moves and how best to profit from them.

Competitors in this space, such as Kpler and Windward, are already rolling out or developing similar products.

Kpler, which started as a vessel-tracking service, uses AI to compress data into what it calls “actionable strategies” that take into account factors such as geopolitics.

Windward, another player in the tracking business, uses AI to analyse historical data and vessel movement patterns in order to highlight anomalies, such as illegal ship-to-ship transfers of cargoes.

Players such as hedge funds, which previously believed they lacked the knowledge to go up against established traders in an opaque fuel market, may now be able to get and process the necessary in-formation just as fast.

Are there any weaknesses in adopting AI to inform trading decisions?

The obvious question is whether everybody will just get the same recommendations, resulting in high-ly crowded trades that eliminate the potential for profits.
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However, different users will be seeking different outcomes, which should mitigate this risk.

For example, a refiner may be willing to lock in a fixed price for some of its output of diesel and gaso-line, while a trader may be willing to take the risk that prices will rise before taking physical delivery, thus creating the potential for profit.

As a result, the refiner and trader should get different recommendations from AI even if they are using the same model.

Another obvious question is whether the recommendations are any good — something that will only become clear with time.

Pushback could also come from established players who may resist newcomers entering their markets.

A large trader could try to influence prices through a series of trades aimed at pushing smaller players into stop-loss situations.

But history suggests that over time the existing participants will have to adapt to changed circumstanc-es — whether they like it or not.

An example of this type of change is vessel-tracking of physical cargoes in real time.

These services — from firms like Vortexa and London Stock Exchange Group — only started emerging about 15 years ago, but have since grown into household names and enjoy widespread penetration among commodity market participants.

NO RAGE AGAINST CHANGE

At the Asia Pacific Petroleum Conference (APPEC) earlier this month in Singapore, the main topic of conversation was how to resolve the Iran conflict and restore the flow of crude and products from the Middle East.

But the second most discussed issue was AI, with questions such as how companies are using it, and what the advantages and risks are.

Across numerous conversations at the event, it became clear that commodity executives expect AI to play an increasing role in data collection and analysis, as well as in operations such as shipping and inventory management.

The overall idea is that it’s pointless to rage against change. Rather, it’s preferable to be an early adopter and leader.

In a best-case scenario, AI will level the playing field in the trading of commodities that are currently the preserve of small groups of experienced participants.

As Sparta CEO Felipe Elink Schuurman put it, the trading desk that used to win was the one with the most information, but the new winners will be the ones that can turn data into trading moves fastest.

The capital market opened the week on a weak note today (27 September), with investors selling shares amid anxiety over upcoming corporate financial results and a lack of fresh positive triggers, sending the benchmark index down for a second consecutive session.

The DSEX, the benchmark index of the Dhaka Stock Exchange, fell 45 points, or 0.81%, to settle at 5,532, while the blue-chip DS30 index dropped 12 points to close at 2,099.

Market breadth was overwhelmingly negative, with 277 issues declining against 75 advancing and 36 remaining unchanged. Daily turnover fell 4% to Tk727 crore from the previous session.

Stockbrokers attributed the downturn mainly to anxiety over corporate earnings and continued profit-booking.

In its daily market review, EBL Securities said the benchmark opened in negative territory as cautious investors adopted a wait-and-see approach amid limited conviction about the market's upward trajectory. The absence of immediate bullish catalysts and uncertainty over upcoming earnings announcements from companies with June year-end kept buyers largely on the sidelines.

Sheltech Brokerage Limited similarly said selling pressure dominated the session, dragging the benchmark to an intraday low of 5,532 points, where it eventually closed.

Large-cap and blue-chip stocks bore the brunt of the selling, with LafargeHolcim Bangladesh, Pubali Bank, Islami Bank Bangladesh, United Commercial Bank and Beximco Pharmaceuticals emerging as the major drags on the index.

Textiles generated the highest turnover, accounting for 19.2% of total transactions, followed by general insurance at 17.1% and pharmaceuticals at 14.7%.

Declines were widespread across major sectors. Cement suffered the steepest fall, dropping 3.3%, while life insurance declined 2.2% and information technology fell 1.9%.

Jute and mutual funds bucked the broader market trend, each gaining 2.8%, while general insurance rose 0.6%.

Among individual stocks, Prime Bank 1st ICB AMCL Mutual Fund topped the gainers with a 9.85% rise, followed by CAPM IBBL Mutual Fund, up 9.65%, ICB AMCL First Agrani Bank Mutual Fund, up 7.22%, Samorita Hospital, up 7.01%, and Khulna Printing, up 6.71%.

Meghna Condensed Milk led the losers, falling 6.09%, followed by CNA Textile, down 6.06%, Sharp Industries, down 5.75%, Premier Cement, down 5.64%, and BIFC, down 5.55%.

The Chittagong Stock Exchange (CSE) mirrored the decline in Dhaka.

Its selective CSCX index fell 90 points to settle at 9,057, while the all-share price index, CASPI, dropped 128 points to close at 14,783.

However, turnover at the CSE moved against the broader trend, surging 136% to Tk39.52 crore.

Palli Karma-Sahayak Foundation (PKSF) has taken an initiative to provide a total of Taka 72.45 billion (7,245 crore) in financing to promote renewable energy use and foster new entrepreneurship in the cottage and microenterprise sectors.

Of the total amount, Taka 500 crore will be allocated for expanding rooftop solar power generation, BSS reports citing a press release.

The decisions were taken at a meeting of the PKSF Board of Directors held today (Sunday) at PKSF Bhaban-1 with PKSF Chairman Zakir Ahmed Khan in the chair.

Managing Director (MD) Md Fazlul Kader and other board members attended the meeting.

The Board approved Taka 5,000 crore in Bangladesh Bank-financed loans to support the creation of new entrepreneurs in the cottage and microenterprise sectors.

The financing will support technology-driven agriculture and agro-processing, manufacturing, services and various value-chain-based activities at the grassroots level.

The initiative aims to utilise the skills and productive capacity of low-income communities to create new entrepreneurs and expand employment opportunities, according to the PKSF.

Meanwhile, PKSF has launched a specialised financing programme, backed by a Taka 500 crore government allocation, to expand rooftop solar power generation.

Under the programme, the Board approved a specialised lending policy titled 'Shouro Shokti' to provide loans to customers through partner organisations at an interest rate of six percent.

The Board also approved nearly Taka 2,000 crore in loans for PKSF's partner organisations to support cluster-based microenterprises, general services, the ultra-poor, agriculture and other sectors.

To showcase investment potentials, modern infrastructure, and investor-friendly facilities of the Sirajganj Economic Zone (SEZ) to business leaders and investors in the northern region, the "Bogura Investor Roadshow 2026" was successfully organized by Sirajganj Economic Zone Limited.

Around 75 local investors from the Bogura region participated in the roadshow, according to a media release.

Business leaders, industry representatives, local dignitaries, and invited guests were also present at the event. During the session, prospective investors were provided with a detailed overview of industrial setup opportunities, infrastructural advantages, and existing facilities available within the economic zone.

In his welcome address, Dr. Engr. Mohammad Kamruzzaman, Director of Sirajganj Economic Zone Limited, highlighted the significance of such regional investor roadshows in driving national industrialization and expanding investments.

Lieutenant Colonel Md. Shariful Islam (Retd.), Chief Administrative and Human Resources Officer of Sirajganj Economic Zone Limited, delivered the keynote presentation.

He elaborated on the investment prospects, infrastructural strengths, and business-friendly incentives designed for prospective investors at SEZ.

Member of Parliament for Bogura-4, Md. Mosharraf Hossain, addressed the event as a Special Guest, while Member of Parliament for Bogura-6, Rezaul Karim Badsha, graced the occasion as the Chief Guest.

In addition, A. K. M. Ahsanul Tayeb Zakir, Administrator of the Bogura District Council, and M.S.M. Atiqur Rahman Badal, President of the Bogura Chamber of Commerce and Industry, spoke as distinguished speakers.

The speakers shared their valuable insights on advancing industrialization, boosting investment expansion, and accelerating regional economic activities.

During the ceremony, A. Matin Chowdhury, Chairman of Sirajganj Economic Zone Limited, handed over honorary crests to the esteemed guests.

In his concluding remarks, Chairman A. Matin Chowdhury extended his gratitude to the participating investors, business leaders, guests, and industry representatives.

He noted that such initiatives play a pivotal role in establishing direct communication with prospective investors and attracting new industries to the Sirajganj Economic Zone.

Through the "Bogura Investor Roadshow 2026," Sirajganj Economic Zone Limited has reaffirmed its commitment to building stronger connections with entrepreneurs and investors of the northern region, positioning SEZ as a premier and promising destination for future industries and investments, the release adds.

A downturn in the funneling of inflation-fueling high-powered money into the market reverses significantly and stokes fear of spikes in the inflationary pressure on living and economy.

Money-market experts have pinpointed several factors, including the central bank's growing quasi-fiscal activities and the regulator's liquidity support to the struggling banks, largely contributing to the recent leaps in reserve-money growth.

Under a tight monetary-policy regime pursued by the central bank until July last to tame obdurate inflation, the inflow of the reserve money dropped to a negative growth of 0.12 per cent in June 2025. In a rebound since, it has risen significantly in recent months.

Apart from the regular liquidity-feeding instruments of the Bangladesh Bank (BB), they said, the flow of subsidised credits or money injection through irregular arrangements keeps rising on the money market, which is contradictory to the spirit of contractionary monetary-policy stance.

As a matter of fact, the BB-claimed tight monetary policy is not transmitting into the money market properly and not being able to contain the inflationary pressure at the expected level.

This shortcoming in regulating money supply as per policy is ultimately hurting common people through eroding their purchasing power.

According to latest BB data, the growth in the reserve money was recorded 0.12-percent negative in June last year. Afterwards it started leaping to 2.52 per cent, 3.47 per cent, 9.23 per cent, 13.35 per cent and 14.39 per cent, 15.25 per cent and 17.86 per cent in July, September, December of 2025, February, April, June and August this year respectively.

Reserve money is the total amount of currency in circulation plus commercial banks' deposits held at the central bank, acting as the foundation for the entire monetary system.

It is also called "high-powered money" because it forms the foundation for the expansion of bank deposits through the money-creation process.

Seeking anonymity, a BB official said the central bank, in fact, did nothing to control the higher inflation apart from continuing a higher policy rate of 10 per cent since October in 2024.

"The volume of quasi-fiscal activities by the BB through which commercial banks avail credits from the regulator at subsidised rates, ranging from 0.5 per cent to 5.0 per cent, is still quite large," he told The Financial Express

On the other hand, the central banker added, regular government borrowing from the central bank through using ways and means, amounting to maximum Tk 120 billion, and overdraft worth maximum Tk 120 billion, goes on to operate some 119 accounts at 8.0 per cent and 9.0 per cent respectively.

"Certainly, it (reserve money growth) is a concern for all of us because it fuels inflation to some extent," he said.

Considering possible spikes in inflation following latest upward revision of fuel prices and reserve-money growth, the central banker said, the banking regulator decided not to cut the policy rate (now it is 9.50 per cent) until December next.

Overall inflation in Bangladesh eased slightly to 8.26 per cent in August 2026, down from 8.32 per cent in July, according to data from the Bangladesh Bureau of Statistics (BBS).

Apart from growing government bank borrowing and quasi-fiscal activities, Director-General of Bangladesh Institute of Bank Management (BIBM) Dr Md. Ezazul Islam points out that the regulator has purchased more than US$6.0 billion since July 13 last year to stabilise the exchange rate and injected huge volumes of money into the market. These all factors contributed to the rising growth of reserve money.

But the money-multiplier effect was not too high because of lower credit demand by the private sector. The credit appetite of the entrepreneurs is expected to increase in the coming days.

"If the uptrend in reserve money continues and private-sector-credit growth gets enhanced, it will be an issue of serious concern in the context of a tight monetary stance," the monetary economist added.

A sharp decline in liquefied petroleum gas (LPG) imports in September has tightened supplies, pushing the retail price of the widely used 12-kg cylinder more than Tk400-Tk500 above the regulator-fixed rate.

LPG importers and Bangladesh Energy Regulatory Commission (BERC) sources said the country imported around 160,000 tonnes of LPG in August, while imports so far this month have fallen to about 120,000 tonnes, a 25% decline.

The supply squeeze has pushed the retail price of a 12-kg cylinder above Tk2,000 in recent days, against the BERC-fixed price of Tk1,585 for September.

Industry insiders attributed the shortage mainly to disruptions along key shipping routes, a vessel shortage and sharply higher freight costs amid the ongoing conflict and attacks in the Middle East.

Supply routes disrupted

The closure and disruption of the Strait of Hormuz and the Red Sea route have severely affected LPG shipments from the Middle East, Bangladesh's main sourcing region. Importers are increasingly dependent on longer, costlier routes, while higher international LPG prices have further raised import costs.

"The main problem is cargo availability. Cargo is simply not available," said Abu Sayed Raza, chief marketing officer of Meghna Fresh LPG Ltd.

"Previously, while one route might have been restricted, at least one remained open; now, both routes are blocked – the Red Sea route and the Strait of Hormuz route," he said, adding that only small and irregular quantities were arriving through alternative routes, including Oman, Malaysia and Norway.

Importers said suppliers under term contracts were also unable to provide their full contracted volumes. Raza said traders had informed his company they could not supply 20% of the agreed monthly volume.

"Under the BERC pricing mechanism, the premium was set at $160 last month. We are ready and willing to pay a premium of $250 to $300 to secure the product, yet we still cannot obtain the cargo," he said.

Tanzeem Chowdhury, CEO of Omera Petroleum Limited, said the company imported around 30,000 tonnes of LPG in September. "Supply uncertainty from the producers' end has created a disruption, but we are trying our best to keep the market sufficiently supplied," he said.

Members of the LPG Operators Association of Bangladesh (LOAB) said some importers were receiving 30%-40% less than their contracted volumes, while spot-market availability had also fallen sharply.

They said the BERC pricing mechanism had previously factored in an import premium of around $160 per tonne, while traders now faced premiums of 260-400. Some companies have therefore reduced or halted imports rather than incur losses on cargoes whose higher costs cannot be reflected in the regulated retail price.

Consumers bear the brunt

Consumers are now paying the cost of the supply disruption. Although BERC cut the official price of a 12-kg cylinder by Tk13 to Tk1,585 on 2 September, consumers in many areas are paying Tk500-Tk600 more, taking the price above Tk2,000.

BERC Chairman Jalal Ahmed told The Business Standard that the September market was experiencing a supply shortage after some companies failed to receive scheduled imports. "We will hold talks with LPG importers to keep the supply normal," he said.

Bangladesh has annual LPG demand of around 1.5-1.6 million tonnes, with nearly 10 million consumers relying on the fuel. Household cooking accounts for about 80% of consumption. Private companies supply around 99% of the market, while state-owned firms account for about 1%.

The country faced a similar crisis in December last year after private-sector imports fell sharply. The government subsequently authorised Bangladesh Petroleum Corporation (BPC) to import LPG directly.

However, efforts to secure suppliers were unsuccessful except for Speed Marketing, which was awarded a contract through direct procurement to supply 5,000 tonnes. The cargo's arrival date remains uncertain.

Jalal Ahmed warned that the LPG market could deteriorate further in October if sufficient cargoes are not secured, as international supplies remain tight amid shipping disruptions.

SK Trims & Industries reported a significant reduction in losses for the first nine-month of 2025-26 fiscal, supported by stronger export revenue and tighter operational cost management.

In a delayed submission of its quarterly financial statement during the July 2025 to March 2026 period, its net loss declined to Tk11.94 crore with a loss per share of Tk1.41.

At the same time of the previous year, its net loss was Tk18.72 with per share loss of Tk2.21 during the period of July to March 2025.

Regarding the improvement in losses, it said, the negative EPS has improved due to increase of the export revenue and reduction in the company's manufacturing costs and operating expenses.

As a result, the net loss after tax decreased compared to the corresponding period ending in March 2025.

In a major operational boost, its net operating cash flow per share (NOCFPS) surged into positive territory at Tk1.01 for the nine-month period, rebounding from a negative of Tk0.53 recorded in the previous year.

The company stated that the improvement in cash flows was driven mainly by higher cash collections from turnover during the period.

In the 2024-25 fiscal, SK Trims & Industries reported a net loss of Tk28.17 crore and decline in revenue to Tk28.43 crore, according to its auditor's report.

The report said, a primary driver of the operational disruption was a significant delay in the renewal of the company's bond license, which stemmed from internal administrative mismanagement and procedural oversights. Because the company's operations heavily rely on the bond facility, this lapse in the timely renewal immediately disrupted exports and imports schedules, the report said.

Lubricant prices in Bangladesh have risen sharply this year, with some products becoming up to 70% more expensive as higher international raw material and freight costs squeeze the market.

The latest increase in domestic fuel prices is adding to costs for vehicle owners, but industry insiders say lubricant prices are not directly linked to the government's fuel-price adjustment.

Rather, they attribute the surge primarily to global market conditions, particularly supply disruptions and higher costs linked to the conflict in the Middle East.

Md Delwar Hossain, senior vice-president of the Lubricants Importers Association of Bangladesh and managing director of RM Automobiles, said Bangladesh imports lubricants and the base oils used by local blenders largely from international markets, including the Middle East.

Lubricant import prices initially rose by 5-10% in the first few weeks after the conflict began on 28 February, Delwar said. Since then, prices of some lubricant products have risen by as much as 70%, he estimated.

"The price surge in lubricants is not directly connected to the government's decision," Delwar told The Business Standard, saying the market is primarily responding to international developments.

He warned that if the situation in the Middle East remains unchanged, further price increases and instability could hit Bangladesh's lubricant market.

Md Shahin Alom, senior general manager of MJL Bangladesh, said the sharp increase is primarily linked to rising costs and tightening supplies of base oils, which account for roughly 75-98% of a lubricant's formulation, with additives making up the rest.

Disruptions to supplies from major Middle Eastern producers, including Qatar's Pearl GTL, and restricted shipping through the Strait of Hormuz have tightened global availability of higher-grade base oils, he said.

Base oil prices that were around $850-900 per tonne before the crisis have risen to $2,000-2,200, while synthetic base oil prices have exceeded $3,200 per tonne, Shahin said.

Retail prices already rising

The increase is already visible at retail outlets.

Md Rahmatullah, proprietor of Rahmat Motors, said prices of several popular lubricant products rose significantly between January and September.

A 4-litre pack of Mobil Special rose from Tk2,050 to Tk2,650, while Mobil 5W-30 increased from Tk2,600 to Tk3,500. A 4-litre pack of Mobil 1 rose from Tk6,200 to Tk7,200.

Transmission fluids have also become more expensive, with some products rising by several hundred taka to Tk2,000 per 4-litre pack. Japanese CVT FE oil, for instance, increased from Tk5,000 to Tk7,000.

Rahmatullah expects another round of hikes as retailers replenish stocks purchased at higher costs.

Mohammad Rasel of Fair Auto, a retail seller of motorcycle lubricants, said some engine oils have risen by around Tk100-200 per litre in recent months.

As a result, many customers are now calculating their expenses more carefully before making purchases, he said.

Iftekhar Shimul, a university student and regular motorcycle user, said he used to buy engine oil for Tk850 in January, but the same product now costs Tk1,150.

Import dependence exposes market

The Bangladesh Lube Blenders Association estimates the country's lubricant market at around Tk8,000 crore, with annual demand of 160,000-170,000 tonnes.

Domestic blending plants meet more than half of local demand, while the rest comes from imported finished lubricants. The automotive sector accounts for around 47% of total lubricant consumption.

Local blending plants rely entirely on imported Group I, Group II and Group III base oils, primarily sourced from Middle Eastern refining hubs.

Specialised additives are also imported, leaving producers exposed to international commodity prices, freight costs and exchange-rate pressures.

Shahin said shortages have been particularly acute for Group II and Group III base oils as refiners have faced incentives to divert some feedstock towards diesel production amid tight global fuel supplies.

The disruption has affected supply security as well as prices, with buyers facing difficulty securing some grades of synthetic base oils, he said.

Freight, dollar costs add pressure

The conflict has increased shipping risks and costs along maritime routes in the Persian Gulf and Strait of Hormuz, pushing up freight, insurance and transit costs for lubricant imports, Delwar said.

Industry insiders said importers are also facing pressure from foreign-exchange liquidity and letters of credit, while uncertainty over customs valuation of imported lubricants is adding to the cost burden.

Shahin said insurance premiums for Middle East shipments have risen sharply, while shipping disruptions and limited vessel availability are adding to the cost of bringing base oils and finished products into Asian markets.

Fuel hike adds to transport costs

The government's latest increase in diesel, petrol and octane prices has added further pressure on vehicle and fleet operators.

While the fuel-price adjustment does not directly determine lubricant prices, Delwar said, consumers are now facing higher costs for both fuel and vehicle maintenance.

Industry participants also fear that continued increases in genuine branded lubricants could push price-sensitive consumers towards lower-quality, recycled or counterfeit products.

For Bangladesh's lubricant market, the pressure is therefore coming from both higher domestic operating costs and its dependence on imported raw materials and an international supply chain exposed to geopolitical disruptions.

Bangladesh Bank has introduced a new resolution framework for Bangla QR merchant payments, requiring banks, mobile financial service providers and payment service providers to resolve customer complaints within fixed timeframes.

The central bank issued the "Guideline on Dispute Resolution for Bangla QR (Merchant Payment) Transactions" today (27 September), which will take effect on 1 December.

Under the guideline, if a customer's account is debited but a transaction fails and the merchant does not receive the money, the issuing bank or MFS provider must automatically reverse the amount without requiring a complaint.

The reversal must be completed in real time or within 30 minutes.

For disputes that cannot be resolved automatically, customers can file complaints within 45 days of the transaction. The issuer must accept or reject a claim within two working days.

If the issuer fails to respond within the deadline, the case will move to a formal chargeback process through the National Payment Switch Bangladesh's centralised dispute management system.

The acquiring institution will have seven days to respond to a chargeback claim. If the dispute remains unresolved, it can proceed to arbitration, which must be completed within 30 days.

The guideline introduces eight standardised chargeback reason codes covering issues such as non-receipt of goods, duplicate payments, incorrect billing and cases where the merchant is not credited despite the customer's account being debited.

It will also introduce a transaction status inquiry mechanism, allowing issuing institutions to instantly verify unclear payment statuses with acquiring institutions. The mechanism is expected to reduce the need for manual dispute filing.

Penalties for missing transaction evidence

The guideline makes institutions responsible for providing transaction evidence during dispute investigations.

If an acquirer fails to provide required electronic journals, transaction logs, receipts, SMS records or other valid evidence, it must refund the disputed amount and may face an additional penalty of up to the same amount.

Merchants seeking refunds will have 60 days to submit requests, while acquiring institutions must respond within two working days.

The guideline also sets a 30-day period for investigating suspected unauthorised or fraudulent transactions.

Customers must be reimbursed within three business days if an institution's system failure or security lapse is found to have caused the loss. However, claims may be rejected if evidence shows that the customer was negligent or engaged in misconduct.

Bangladesh Bank warned that banks, MFS providers and other payment service providers may face supervisory action for failing to meet the stipulated deadlines or unjustifiably rejecting customer claims.

The new framework aims to make Bangla QR payments more predictable and secure for customers and merchants while strengthening confidence in the country's digital payment ecosystem.