Sammilito Islami Bank began returning principal amounts to customers who applied to withdraw on 1 September. Around 6,000 customers collected Tk250 crore nationwide on the first day, against Tk1,329 crore sought by 18,000 applicants scheduled for repayment that day.

While 18,000 customers had applied to withdraw their deposits, only around 6,000 turned up to collect their money yesterday (7 September). The repayment process began after Bangladesh Bank provided the bank with Tk5,000 crore on 6 September to meet depositors' withdrawal demands. Eligible customers received their money, with bank officials welcoming them with flowers and sweets.

Visits to several branches in the capital yesterday morning found that funds had been arranged according to customer demand, while some customers were being allowed early withdrawals in cases of urgent need.

Rahim Khan, manager of the Kakrail branch, formerly First Security Islami Bank, said 11 customers who applied on 1 September were scheduled to withdraw money yesterday. One had already collected the money, while the remaining 10 had been called to collect their deposits.

At the Paltan branch, formerly EXIM Bank, second officer Joynul Abedin said 17 customers had applied, but only two came to collect their deposits. "The two customers who came were given their full amounts," he said.

At the Naya Paltan branch, formerly Global Islami Bank, Sharmin Jahan received Tk20,000 after applying on 3 September, ahead of schedule because her child fell ill. Another customer, Didar, who also applied on 3 September, was told to wait two more days.

Default loan verification via app

A bank official said customers' loan status is being checked through a dedicated app using their NID numbers before withdrawals are approved.

If defaulted loans are found, the matter will be referred to the relevant authority for a decision. Customers without defaults will receive funds under the rules, with Bangladesh Bank supervising the process.

The official urged depositors not to panic, saying the government had taken responsibility for the bank and their funds were safe.

Emergency withdrawals allowed

Saifuddin Ahmed Chowdhury, manager of the Naya Paltan branch, said sufficient funds had been arranged and Bangladesh Bank was monitoring the process round the clock.

Customers applying on 2 or 3 September will wait one or two additional days, but urgent cases involving illness or other emergencies are being considered.

Chowdhury SM Atikur Rahman Haider, manager of the Bijoynagar branch, formerly of Union Bank, said large depositors can keep, withdraw or transfer funds through Real-Time Gross Settlement (RTGS), subject to loan-status checks.

The Cabinet yesterday (7 September) approved a proposal to provide duty and tax waiver facilities for the import of machinery and spare parts for renewable solar power generation.

The approval came at a Cabinet meeting held at the Cabinet Room of parliament complex with Prime Minister Tarique Rahman in the chair, according to a Cabinet Division press release.

Under the approved proposal, machinery and spare parts imported for setting up renewable solar power plants will be exempted from customs duty beyond 1%, entire regulatory duty, supplementary duty, value-added tax (VAT), advance tax and advance income tax for 180 days from the date of issuance of the notification.

The government expects the measure to help meet electricity demand by facilitating faster expansion of renewable solar power generation, while reducing the difficulties caused by power shortages and supporting uninterrupted industrial production.

The Cabinet also approved a proposal to amend a notification on the minimum price of low-tier cigarettes under the Value Added Tax and Supplementary Duty Act, 2012.

Under the amendment, the maximum retail price of low-tier cigarettes will be reset at Tk65 or above per 10 sticks, replacing the existing threshold of Tk 62 or above.

The amendment is also expected to help reduce illegal cigarette trade and revenue losses.

In another decision, the Cabinet approved a proposal to sign a Promotion and Protection of Investment Agreement between Bangladesh and Hong Kong.

The agreement is aimed at strengthening existing economic ties between the two sides and attracting new investment, particularly in sectors such as garments and textiles.

According to the proposal, the agreement will help ensure necessary security and protection for investments by both sides and contribute to industrialisation, employment generation, technology and knowledge transfer, and increased production capacity.

The agreement will remain valid for 10 years, while a provision has been included allowing both sides to amend it three years after its signing.

The agreement is also expected to establish an effective institutional framework to increase foreign investment flows between Bangladesh and Hong Kong.

Summit LNG Terminal II Company Limited has urged the government to reconsider the interim government's decision to cancel a deal for setting up the country's third floating storage and regasification unit (FSRU) for LNG imports.

The company said retaining the agreement instead of proceeding with an FSRU proposed by a Chinese company could save Bangladesh around $1.10 billion.

In a letter sent to the chairman of Petrobangla on 6 September, Summit said if the agreement signed in March 2024 is retained, the FSRU, mooring system and subsea pipeline would be handed over to Petrobangla free of cost after 15 years of operation.

Bangladesh currently has two FSRUs – one owned by Summit Group and the other by US-based Excelerate Energy Bangladesh. During the Awami League government, the authorities signed an agreement with Summit on 30 March 2024 to set up another FSRU.

Before the FSRU is handed over, it will undergo a full dry-docking and certification by a globally recognised classification society. This, Summit said, would ensure that the FSRU remains fit for another 10 years of operation.

The government is taking various initiatives to address the country's energy shortage, including plans to install additional FSRUs. As part of this effort, the Cabinet Committee on Economic Affairs on 28 July gave in-principle approval to set up a third FSRU through China National Energy Engineering and Construction Company under a government-to-government arrangement.

The Chinese company submitted its proposal to the government on 19 June.

In the letter signed by Summit LNG Terminal II Company Secretary ASM Nazmul Haider, the company said the second terminal was supposed to be implemented under a Build-Own-Operate-Transfer (BOOT) model under its agreement with Petrobangla.

However, the Build-Own-Operate (BOO) structure currently being considered for the Chinese company's proposed third FSRU would not provide for the transfer of the FSRU to Petrobangla.

As a result, Petrobangla would not obtain full ownership of the FSRU, causing an estimated economic loss of around $883 million, Summit said.

Citing reports published in the media, Summit said the proposed Chinese FSRU would have a daily charter rate of around $3,42,000, compared with approximately $3,00,000 for its second terminal.

This would mean a saving of around $42,000 per day if the Summit terminal agreement is retained, amounting to approximately $230 million over 15 years.

"Therefore, the total financial savings would be approximately $1.10 billion," the company said.

Summit also claimed it has already invested more than $20 million in the project.

The country's premier bourse, the Dhaka Stock Exchange (DSE), witnessed a classic "V-shaped" recovery today (7 September), with the benchmark index staging a remarkable 95-point turnaround in the final hour of the trading session.

After a harrowing mid-session slump that saw the DSEX plunge below the psychological 5,500-point threshold, a surge of institutional buying interest helped the market erase its massive losses and settle on a positive note, according to the market insider.

The trading day began with significant volatility, and by 12:30pm, the DSEX had plummeted by 67 points, hitting an intraday low that triggered panic among retail participants. However, the momentum shifted abruptly in the afternoon. Between 12:30pm and 1:58pm, the broad index climbed sharply, recovering all lost ground and adding enough momentum to close at 5,567 points, up 8 points from the previous session.

Market insiders observed that the final-hour boost was primarily orchestrated by institutional investors and high-net-worth individuals. These "bargain hunters" identified the mid-session crash as an attractive entry point, moving in to accumulate fundamentally strong shares at multi-month lows. This professional intervention provided a much-needed lifeline to the market's faltering momentum.

According to the daily market review by EBL Securities, the capital bourse finally found its footing after a prolonged downturn. The session was defined by a fierce tug-of-war between sellers and buyers. While intensified selling pressure dominated the first half of the day, the late-session buying spree in heavyweight scrips allowed the benchmark index to reverse its nearly 70-point intraday loss.

On the sectoral front, the textile sector emerged as the primary driver of liquidity, accounting for a massive 29.8% of the total turnover. It was followed by general insurance at 12.8% and the pharmaceutical sector at 12.0%. Sectoral returns were mixed, with textiles gaining 2.7% and the travel sector rising by 1.9%. On the flip side, the cement sector faced a correction of 1.1%, while the telecommunication segment also ended marginally lower.

The market breadth reflected the late-hour recovery, with 170 issues advancing compared to 150 that declined, while 63 remained unchanged.

Total turnover on the DSE saw a 5% uptick, reaching Tk571 crore.

Major index pullers that supported the rebound included Pubali Bank, Dominage Steel, Southeast Bank, Envoy Textile, and Malek Spinning.

Individual stock performance was highlighted by Tung Hai Knitting, which hit the 10% upper circuit limit. Other top gainers included Saiham Cotton, Premier Leasing, and Sea Pearl Beach Resort.

Conversely, Sena Insurance was the day's top loser, shedding 9.97% of its value, followed by CAPM IBBL Mutual Fund and Prime Textile. On the liquidity front, Sharp Industries, Saiham Cotton, and Envoy Textile were among the most traded stocks of the day.

While the premier bourse ended in the green, the sentiment remained slightly dampened at the Chittagong Stock Exchange (CSE), where the broad CASPI index dropped 82 points to settle at 14,919. Turnover at the port city bourse stood at Tk18.84 crore.

দেশের তরুণ প্রজন্মের মধ্যে পুঁজিবাজার, বিনিয়োগ ও আর্থিক বিষয়ে সচেতনতা বাড়াতে লংকাবাংলা সিকিউরিটিজ পিএলসি ও এক্সিলেন্স বাংলাদেশের মধ্যে সমঝোতা স্মারক স্বাক্ষরিত হয়েছে।

গত ৫ সেপ্টেম্বর ২০২৬, শনিবার রাজধানীর বনানীতে লংকাবাংলা সিকিউরিটিজের কার্যালয়ে আয়োজিত এক অনুষ্ঠানে দুই প্রতিষ্ঠানের প্রতিনিধিরা আনুষ্ঠানিকভাবে এই সমঝোতায় স্বাক্ষর করেন। অনুষ্ঠানে উভয় প্রতিষ্ঠানের জ্যেষ্ঠ ব্যবস্থাপনা পর্যায়ের কর্মকর্তা ও সংশ্লিষ্ট ঊর্ধ্বতন কর্মকর্তারা উপস্থিত ছিলেন।

সমঝোতার আওতায় দেশের বিভিন্ন বিশ্ববিদ্যালয়ের শিক্ষার্থীদের জন্য পুঁজিবাজার ও বিনিয়োগ বিষয়ে সচেতনতামূলক কার্যক্রম পরিচালনা করা হবে। পাশাপাশি শিক্ষামূলক আলোচনা, সেমিনার, শিক্ষার্থী প্রতিযোগিতা, ক্যাম্পাস প্রতিনিধি কার্যক্রম এবং ডিজিটাল প্রচারণার মতো বিভিন্ন উদ্যোগ নেওয়া হবে।

এই অংশীদারিত্বের মাধ্যমে ২০৩০ সালের মধ্যে দেশের ১০ লাখ শিক্ষার্থীর কাছে পুঁজিবাজার ও বিনিয়োগ সম্পর্কে প্রাথমিক ও প্রয়োজনীয় জ্ঞান পৌঁছে দেওয়ার লক্ষ্য নির্ধারণ করা হয়েছে। তরুণদের মধ্যে সঠিক আর্থিক জ্ঞান তৈরি এবং দায়িত্বশীল বিনিয়োগের সংস্কৃতি গড়ে তুলতে এ উদ্যোগ গুরুত্বপূর্ণ ভূমিকা রাখবে বলে আশা প্রকাশ করা হয়েছে।

অনুষ্ঠানে লংকাবাংলা সিকিউরিটিজ পিএলসির ব্যবস্থাপনা পরিচালক মোহাম্মদ নাসির উদ্দিন চৌধুরী এবং এক্সিলেন্স বাংলাদেশের প্রতিষ্ঠাতা ও প্রধান নির্বাহী কর্মকর্তা বেনজির আবরারসহ দুই প্রতিষ্ঠানের জ্যেষ্ঠ কর্মকর্তারা উপস্থিত ছিলেন।
দুই প্রতিষ্ঠানের পক্ষ থেকে বলা হয়েছে, এই সমঝোতার মাধ্যমে দেশের বিশ্ববিদ্যালয়, তরুণ প্রজন্ম ও পুঁজিবাজারের মধ্যে একটি কার্যকর এবং টেকসই সংযোগ গড়ে তোলার সুযোগ তৈরি হবে। একই সঙ্গে শিক্ষার্থীরা ভবিষ্যতে আর্থিক সিদ্ধান্ত নেওয়ার ক্ষেত্রে আরও সচেতন ও দক্ষ হয়ে উঠবেন বলে প্রত্যাশা করা হচ্ছে।

Petrobangla has sharply eased the entry requirements for new spot liquefied natural gas (LNG) suppliers as Bangladesh seeks to widen its sourcing options amid severe gas shortages and rising global LNG prices.

The state-run corporation will now allow companies to seek enlistment with just one successfully completed LNG supply contract and $50 million in financial capacity. This is a significant relaxation of the experience, financial and operational requirements introduced in March.
The move comes at a difficult time for the country’s LNG procurement. Disruptions at its two floating LNG terminals, cargo delivery problems and a global supply squeeze pushed average gas supply to 2,235 million cubic feet per day (mmcfd) in August -- the lowest August supply in a decade.

Official demand was around 3,860 mmcfd.The government had to make emergency direct purchases of LNG as industries struggled with low gas pressure and power generation was hit by fuel shortages.

Spot LNG prices have also risen sharply. Bangladesh last week approved a cargo at more than $28 per million British thermal units (MMBtu), the highest price since 2022. Before the Middle East war disrupted global supplies, the country typically paid $10 to $12 per MMBtu for spot LNG.

Against this backdrop, Petrobangla issued a fresh international invitation on August 29 to enlist more suppliers under “revised criteria”.

KEY REQUIREMENTS EASED

Under the March rules, applicants needed at least two years of LNG supply experience and deliveries of at least 0.5 million tonnes in each of two of the previous five years.

The new criteria require only one successfully completed LNG supply contract, with no minimum delivery volume.

The financial threshold has also been cut from $100 million in net worth in two of the previous three fiscal years to $50 million. Companies can meet the requirement through liquid assets, working capital, credit facilities or bank solvency.

Several other requirements have been removed.

Applicants no longer need experience supplying LNG to floating storage and regasification unit (FSRU)-based terminals or the ability to supply lean LNG containing at least 91 percent methane.

They also no longer need to show that they had no failed LNG cargo deliveries in the previous five years or own or charter an LNG carrier. The revised document marks these requirements as “Not Applicable”.

The requirement to provide arbitration history has also been removed. Previously, applicants could have no more than three arbitration awards against them in the previous five years.

Joint venture requirements have also been eased. The lead partner now needs only one successfully completed LNG supply contract.

The $50 million financial requirement can also be shared, with the lead partner meeting 75 percent and the other partner or partners the remaining 25 percent.

The changes could bring LNG traders with shorter operating histories, lower financial capacity and no LNG carrier of their own or under charter into Petrobangla’s supplier pool.

However, Petrobangla has not explained why it relaxed requirements introduced only a few months ago.

Petrobangla Director (operations and mines) Md Shoyeb, the contact person for the enlistment process, told The Daily Star that the changes aim to attract more suppliers.
Google News LinkFor all latest news, follow The Daily Star's Google News channel.

“We are looking for more participants in the spot market,” he said.

A virtual pre-application meeting with prospective suppliers is scheduled for today, while applications are due by September 15.

The exercise will not replace existing suppliers, and companies already enlisted for spot LNG supply do not need to apply again.

Petrobangla currently has 30 companies on its latest spot LNG tender list. The new exercise could further expand a supplier pool that has grown significantly since the change of government in August 2024.

Before then, Petrobangla had Master Sale and Purchase Agreements with 23 suppliers, but spot LNG purchases were largely concentrated among four or five suppliers.

The interim government later brought spot LNG purchases under the public procurement framework after suspending procurement under the Quick Enhancement of Electricity and Energy Supply (Special Provisions) Act, 2010.

The latest enlistment is being conducted under the Public Procurement Rules 2025.

China’s seaborne imports of crude oil ticked up in August from July but remained nearly 40 percent below levels before the start of the Iran conflict. China, the world’s biggest oil importer, saw seaborne arrivals of 7.14 million barrels per day (bpd) in August, from July’s 6.93 million bpd, according to data compiled by commodity analysts Kpler.August’s imports were 4.27 million bpd below the average of 11.41 million bpd in the three months leading up to the US and Israeli attack on Iran on February 28.
The dramatic reduction in China’s seaborne crude oil imports since the start of the conflict means it is shouldering the bulk of the adjustment of lower volumes from the Middle East, with exports dropping amid constrained flows through the Strait of Hormuz.The narrow waterway remains contested between Iran and the United States, and while there is dispute over exactly how much crude oil and refined products are getting through, it is certain that it remains well below the near 20 million bpd before the conflict began.Asia’s seaborne crude oil imports were 22.64 million bpd in August, down slightly from 23.40 million bpd in July, but 4.29 million bpd, or 16 percent, below the average of 26.93 million bpd in the three months to the end of February.

The drop in Asia’s seaborne oil imports in August is only 20,000 bpd more than the decline in China’s arrivals.

While most crude oil market participants expected Beijing to cut its imports in response to the higher prices caused by the Iran conflict, the extent of the drop is surprising.

China has a history of cutting imports when prices surge, but boosting them to increase stockpiling when prices slip. Benchmark Brent crude futures jumped 75 percent from the start of the conflict to a four-year high of $126.41 a barrel on April 30.

They moderated to $96.28 a barrel on September 4, but this remains a price level above what many Chinese refiners would be comfortable paying.

The question for the crude oil market is whether China will continue to curb its imports amid ongoing high prices, or whether its refiners will seek to secure cargoes so that they do not have to tap inventories.

There are several dynamics at work in the answer to that question. Firstly, China’s smaller independent refiners are losing access to Iranian crude as the US naval blockade ensures that no new Iranian crude leaves the Gulf and the oil in tankers gets delivered and depleted. This means these refiners either have to pay more for cargoes from other suppliers, or cut processing rates.

China is buying more from Russia, another exporter under Western sanctions, but that puts it in competition with India as refiners in the South Asian nation have largely replaced constrained Middle East supplies with crude from Russia.

China’s seaborne imports from Russia reached 1.68 million bpd in August, up from 1.40 million bpd in July and the most since March, according to Kpler data.

China also buys about 1 million bpd via pipelines from Russia. Another factor to consider is whether China’s refiners try to export more refined fuels, given the extremely high profit margins currently on offer in Asia for products such as diesel and gasoline.

Exports of light and middle distillates were 963,000 bpd in August, up from 774,000 bpd in July and above the 713,000 bpd average for the three months prior to the start of the Iran war.

The increase in August’s shipments of light and middle distillates almost exactly matches the increase in crude imports. While this may just be a coincidence, it does illustrate the wider point that if China does lift product exports, it will probably have to increase crude imports as well.

Since the start of the Iran war, China’s decision to slash crude imports has been a major factor in keeping oil prices from surging. But its lack of product exports in the April to June period is also a factor in keeping fuel prices elevated in Asia. Given the risk of shortages of refined fuels in Asia, perhaps it would be better for the market if China bought more crude but also exported more fuel.

US companies are very interested in building more floating storage and regasification units (FSRUs) in Bangladesh, US Ambassador to Bangladesh Brent T Christensen told Commerce Minister Khandakar Abdul Muktadir.

The ambassador made the remarks during a meeting with the commerce minister at the Federation of Bangladesh Chambers of Commerce and Industry office in Dhaka today (7 September), as the government moves to give a contract to a Chinese company to build the third FSRU.

FSRU is a specialised vessel or offshore facility that stores liquefied natural gas and converts it back into a usable gaseous state.

The Economic Affairs Committee of the Cabinet has given in-principle approval to China National Energy Engineering and Construction Ltd to establish the terminal under a government-to-government arrangement.
US Ambassador to Bangladesh Brent T Christensen meets Commerce Minister Khandaker Abdul Muktadir at the Federation of Bangladesh Chambers of Commerce and Industry office in Dhaka on 7 September 2026. Photo: PID
US Ambassador to Bangladesh Brent T Christensen meets Commerce Minister Khandaker Abdul Muktadir at the Federation of Bangladesh Chambers of Commerce and Industry office in Dhaka on 7 September 2026. Photo: PID

Christensen said a transparent and competitive environment for major infrastructure projects, including FSRU, would boost foreign investors' confidence.

He also welcomed Bangladesh's long-term LNG import agreement with US-based Gunvor Group, calling it a positive development.

In response, Muktadir welcomed US investors and said American companies would receive the highest consideration if they could demonstrate their ability to supply an FSRU within the shortest possible timeframe.

The US ambassador and the commerce minister also discussed Bangladesh's import policy.

Christensen said the new policy included several positive changes, although some provisions could be made more business-friendly.

Muktadir said the import policy was a continuing process and necessary reforms were being reviewed regularly in line with market conditions and economic realities.

The minister also highlighted the removal of the previous requirement for foreign companies to appoint local agents when supplying strategic equipment.

He said allowing government agencies to deal directly with manufacturers had increased transparency in procurement and reduced the influence of intermediaries.

According to the Commerce Ministry, the meeting also discussed increasing US investment, ensuring transparency in major infrastructure projects, improving the business environment, expanding bilateral trade and strengthening energy-sector cooperation.

Both sides expressed optimism that regular discussions would further strengthen commercial relations between Bangladesh and the United States.

Bangladesh currently has two floating LNG terminals. One is owned and operated by US-based Excelerate Energy, while the other is owned or operated by local conglomerate Summit Group.

The government has initiated efforts to establish a third terminal, with several domestic and foreign companies showing interest. The Chinese engineering firm has proposed constructing an offshore LNG terminal at Kutubjom in Moheshkhali under a build-own-operate model.

Earlier, Summit signed the agreement with the government in March 2024 during the previous Awami League regime. The interim government later cancelled it.

Meanwhile, Summit has urged Petrobangla to reconsider the cancellation of its agreement to build another FSRU.

Summit has claimed that reinstating its project could save Bangladesh $1.10 billion compared with the FSRU proposed by the Chinese firm. Summit sent a letter to Petrobangla on 6 September seeking reconsideration of the cancellation.

Business leaders and professionals have called for changes to the proposed amendments to the Companies Act, 1994, seeking to ease business operations and strengthen corporate governance.

Their recommendations included deregistering dormant companies, clarifying the definition of a "company group", shortening the notice period for annual general meetings (AGMs), and retaining safeguards around auditor changes.

The proposals were raised at a consultation on the draft third amendment (2026) to the Companies Act at the FBCCI office in Motijheel, Dhaka, yesterday (7 September).

FBCCI Administrator Md Fazlul Haque chaired the meeting, attended by representatives of business associations, regulators, stock exchanges and audit firms.

Md Yasin Miah, a member of the Institute of Chartered Accounts of Bangladesh (ICAB), highlighted the large gap between registered and active companies. Although around 3,00,000 companies are registered, only 57,000-58,000 have been audited since the Digital Business Identification system was launched in 2020, the meeting was told.

He called for a simplified process to identify and deregister inactive companies.

Yasin also opposed a provision easing auditor changes, warning it could allow intermediaries to influence companies to switch auditors and potentially undermine audit quality.

On behalf of FBCCI, Barrister Nihad Kabir proposed requiring companies to give shareholders at least 21 days' notice before an AGM. However, a businessman suggested reducing the period to 14 days, a proposal backed by Mohammad Hatem, president of the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA).

Nihad also proposed making company secretaries mandatory for firms with annual revenue above Tk500 crore and allowing greater flexibility in appointing independent directors at unlisted public limited companies.

Business representatives also called for a unified definition of "group" under the Companies Act and banking regulations, citing recurring disputes with Bangladesh Bank over the issue.

Bangladesh Securities and Exchange Commission (BSEC) Executive Director Abul Kalam said several proposals submitted by the commission in December 2025 were absent from the draft, including allowing listed companies to buy back their own shares under specific conditions.

He said Section 58 of the existing law restricts companies from purchasing their own shares.

BSEC also proposed modernising annual reports and allowing digital publication, as well as replacing "balance sheet" with "annual financial statement" and "board report" with "annual report".

Commerce Minister Khondaker Abdul Muktadir said the law would be updated based on feedback from businesses and industrialists.

"This law will primarily be used by businesses themselves, so it must be modernised based on their needs, practical experience and future demands," he said.

FBCCI Administrator Fazlul Haque urged business associations to submit written recommendations within seven days, saying a revised draft would be published within a month after considering their feedback.

A 40-foot container carrying fabrics worth around Tk3 crore has allegedly remained untraced inside Chattogram Port for more than a week, putting an export-oriented garment manufacturer at risk of missing shipment deadlines.

The container, numbered MRSU-8692827, was carrying 668 bales of fabrics imported for Gold Star Garments Ltd, a garment manufacturer based in Kaliakoir, Savar.

The container arrived aboard the MV MCC Danang and was discharged at Chattogram Port's NCT-2 berth on 15 August, according to documents seen by The Business Standard and sources familiar with the shipment.

After completing customs clearance and paying all applicable port charges, the clearing and forwarding (C&F) agent went to the Chattogram Container Terminal (CCT) yard on 30 August to take delivery.

But port officials could not locate the container.

The C&F firm, SRS Syndicate, was later asked to search for it. The firm said it searched for several days and repeatedly contacted the terminal manager, assistant terminal officer and transport officer, but failed to locate it.

It then submitted a written complaint to the Chattogram Port Authority (CPA) chairman on 2 September, seeking urgent action to locate and deliver the container.

According to the complaint, the shipment consisted of one 40-foot full-container load containing 668 bales of fabrics imported for a 100% export-oriented garment manufacturer.

Customs records show that SRS Syndicate filed the bill of entry through the ASYCUDA World system on 22 August. The bill of entry number is C-1209166, while the bill of lading number is 802015128A.

The complaint states that all customs and port charges had been paid before the agent went to collect the container on 30 August. However, the CPA could not hand it over, although it was supposed to be in the CCT yard.

SRS Syndicate proprietor Md Hafizur Rahman told The Business Standard that the fabrics were urgently required by Gold Star Garments to meet export deadlines.

"We cleared all customs and port fees to collect the container, but it was nowhere to be found. More than a week has passed," he said.

He added that the missing 100% export-oriented fabric, valued at around Tk3 crore, puts Gold Star Garments in a critical position. Without the material, the exporter risks missing its scheduled delivery deadline to the buyer.

CPA Secretary Syed Refayet Hamim confirmed that the port authority had received the complaint.

"The CPA formed a committee four days ago to look into the matter," he told TBS, adding that there was no further update yet.

Not an isolated incident

The latest case comes amid growing concerns over the traceability and security of containers inside Chattogram Port.

In August 2025, The Business Standard reported that two fabric-laden containers worth around Tk1.5 crore had disappeared from the port within six months.

In one case, a customs-auction buyer paid Tk85 lakh for 27 tonnes of fabric and another Tk22 lakh in duties, VAT and port charges, only to find that the container was missing when he went to collect it. The CPA later acknowledged that the container could not be traced.

Another buyer had also paid Tk42 lakh for auctioned fabrics but could not take delivery because the container was missing, according to the report.

Meanwhile, in April this year, the CPA filed two separate criminal cases over the disappearance of two other loaded containers.

Port Police recovered an empty container from Halishahar after investigators alleged that it had been removed from the port using forged seals, fabricated signatures and fraudulent gate-clearance documents. However, the imported fabric, valued at about Tk2 crore, was missing.

Police have arrested four people, including two port employees, while another suspect remains absconding.

Another container carrying imported fabric worth about Tk2.5 crore also disappeared earlier this year and remains untraced.

The incidents raised concerns among traders and port experts over possible collusion involving insiders, as containers normally pass through multiple documentation and gate-clearance procedures before leaving the port – worries that have since deepened across the industry.

In July this year, customs officials told TBS that they could not physically locate 250 high-risk import containers at Chattogram Port that had been flagged for suspected smuggling, misdeclaration or revenue evasion.

Customs had repeatedly asked the CPA to identify their locations so the consignments could be inspected, but had not received the required information.

Investigations into some of the earlier cases also found discrepancies between physical container locations and digital cargo records.

In one case, the CPA's Oracle-based cargo management system continued to show a missing container as being stored at the CCT yard even though investigators could not find it physically.

The latest case raises fresh questions about the effectiveness of container tracking and yard management at the country's principal seaport.

For Gold Star Garments, however, the immediate concern is recovering the fabrics. Any prolonged delay could disrupt its production schedule and affect its ability to meet export commitments.

Oil prices extended gains on Monday as tit-for-tat strikes between the US and Iran on vessels sailing in the Strait of Hormuz and other areas heightened concerns of a prolonged supply disruption from the Middle East.Brent crude futures climbed 79 cents, or 0.82 percent, to $97.07 a barrel by 0512 GMT while US West Texas Intermediate crude was at $92.28 a barrel, up 80 cents, or 0.87 percent.
Brent rose 7.8 percent last week while WTI gained nearly 10 percent after the US and Iran resumed attacks and caused a reduction in oil flows through the Hormuz strait where a fifth of the world's oil supply used to transit.US forces struck three Iranian oil tankers on Saturday, US Central Command said, including one off the coast of Kharg Island, near Iran's key oil export hub.The navy of Iran's Islamic Revolutionary Guard Corps said on Saturday it targeted three oil tankers that were travelling through unauthorized routes in the Strait of Hormuz as well as three additional US vessels in other areas.

The Saturday attacks represented a "major escalation in the maritime conflict", maritime intelligence firm Marisks said.

"Commercial tankers are now being deliberately used as instruments of reciprocal economic pressure, substantially weakening the previous distinction between military confrontation and commercial shipping," it added.

An average of 10 commodity ships transited the Strait of Hormuz per day over the past 10 days, the lowest since May, data from analytics firm Kpler showed on Monday.

"If tanker traffic begins to slow materially, the market could price in a much larger supply shock. And there are already signs that this is happening," said Priyanka Sachdeva, head of market insights at Phillip Nova.

A restricted zone will be announced outside the Strait of Hormuz in coming days, Mohsen Rezaei, the secretary of Iran's Supreme National Security Council, said on Sunday, according to state media.

OPEC+ kept its oil output policy unchanged for October at a meeting on Sunday, the producer group said in a statement, as it needs to agree new quotas before deciding its next output steps.

A prolonged standoff, punctuated by calibrated military action by the US and Iran, appeared to be the most likely scenario and was likely to delay the path to full recovery of Middle East supply, ANZ analysts said in a note.

"We then expect exports to remain constrained through the rest of 2026, before a gradual reopening late in Q4 2026," they said, adding that a return to pre-war throughput is not expected until late first quarter or early second quarter of 2027.

Inflation fell for the second consecutive month in August, dropping to 8.26 percent, its lowest level in the past ten months, according to the data published by the Bangladesh Bureau of Statistics (BBS).

Food inflation fell sharply, while non-food inflation edged up. In August, food inflation stood at 7.02 percent, down from 7.16 percent in July, according to BBS data.

Non-food inflation, meanwhile, rose to 9.32 percent last month from 9.28 percent in July.

Point-to-point inflation of 8.26 percent means goods or services that cost Tk 100 in August last year cost Tk 108.26 in August this year.

The government has set a target of keeping annual average inflation at 7.5 percent in fiscal year 2026-27, which began on 1 July.

‘WHERE HAS COST OF LIVING FALLEN?’

AHM Shafiquzzaman, president of the Consumers Association of Bangladesh, said the latest figures do not reflect the reality of price increases.

“Electricity, fuel and essential commodity prices have all increased. There should be some reflection of that,” he said.

He pointed to recent price increases in sugar and rice, and noted that the pay scale for government employees has not yet been implemented.

“Where has the cost of living actually fallen?” he questioned, stating that people are cutting back on many things, including healthcare and medicines.

“In reality, people are simply eating less. If children do not receive adequate nutrition, we are creating an unhealthy generation,” he added.

SLOWER GROWTH DOESN’T MEAN FALLING PRICES

A BBS official, speaking on condition of anonymity, explained that the lower year-on-year rate does not mean commodity prices are declining.

“Prices are continuing to increase, but the rate of increase is comparatively slower than it was a year ago,” the official said, adding that prices had risen across almost all 12 major expenditure groups, with only isolated, seasonal exceptions.

Residential hotel rents fell in some cases due to the off-season, some electronics saw seasonal clearance discounts, and certain winter clothing items were marked down as they moved out of peak season.

The official, however, said these were isolated cases that did not change the broader trend of rising prices, and that a detailed sector-wise analysis would be needed to pinpoint the precise drivers of current inflation.

NO CLEAR SIGN INFLATION IS EASING

Md Deen Islam, professor of economics at the University of Dhaka, cautioned against reading the year-on-year dip as a sign that inflation is genuinely coming down.

“I would say that it is coming to a steady state,” he said, adding that the effects of the central bank’s contractionary monetary policy may still be working their way through the economy due to a lag in policy transmission.

The professor also commented that the rise in monthly inflation was concerning.

If the government wants to meet its FY27 inflation target of 7.5 percent, he said, the monthly rate would need to fall to around one percentage point.

If the monthly rate remains around two percentage points, achieving the government’s inflation target will become difficult, he added.

The economist linked elevated non-food inflation partly to the prolonged energy crisis, and warned that recent wage increases for lower-income government employees could add further demand-side pressure on prices in the coming months.

He called for better coordination between the government’s energy, monetary and exchange-rate policies, along with clearer efforts to manage inflation expectations.

“The government needs to demonstrate that the policies are actually working and that the problems are being addressed. At this point, we are still not seeing any clear sign that inflation expectations are coming down,” he said.

The initial public offering (IPO) drought is showing no sign of easing. More than two years after the last approval, the Bangladesh Securities and Exchange Commission (BSEC) has yet to greenlight a new share offering, despite various initiatives to revive the capital market.

The commission last approved an IPO in March 2024 for Techno Drugs.

Even now, six months after the new government took office and three months into the new BSEC commission's tenure, no company has formally applied to raise funds through an IPO.

This renders the prospect of a new company listing on the stock exchange in the near future increasingly unlikely.

Market stakeholders had anticipated fresh IPO filings with the start of the new fiscal year, as companies seeking capital must submit audited financial statements covering the preceding 180 days.

The prolonged drought has effectively blocked a key avenue for businesses to raise long-term expansion capital, forcing growing reliance on bank loans and internal revenues.

More importantly, there are currently no IPO applications or proposals awaiting approval at the BSEC, according to officials familiar with the matter.

This signals that the issue extends beyond regulatory delays. The deeper concern is that potential issuers are failing to progress from initial interest to formal applications.

Interest exists, but applications do not

Market stakeholders note that while several well-established, financially sound companies wish to raise long-term capital through the stock market, this interest has yet to yield formal applications.

Speaking on condition of anonymity, several merchant bankers told The Business Standard they are preparing several candidate firms for IPOs; however, many are waiting for regulatory clarity before submitting paperwork.

Prominent groups including BRB, DBL, City, and Confidence have surfaced in market discussions as prospective issuers.

This has created a paradoxical impasse: corporate interest exists and merchant bankers are preparing deals, yet no formal filings are reaching the regulator.

New government, new commission, new rules

The new government took office on 17 February, while the new BSEC commission assumed charge on 4 June.

Since assuming charge, the current commission has placed a strong emphasis on attracting large, high-quality issuers to the capital market. BSEC Chairman Masud Khan noted recently that Bangladesh boasts numerous well-established domestic and multinational corporations whose listings could significantly strengthen the market.

He further said the regulator aims to bring several prominent flagship companies to the exchange over the next six to twelve months, hinting that legal mandates could be considered if voluntary listings stall.

However, BSEC spokesperson Abul Kalam told TBS that the commission has not asked any company to refrain from applying for an IPO because of its initiatives to reform the regulatory framework.

"No IPO application will proceed unless an issue manager or company formally submits one," Kalam noted, adding that direct listing rules are now active alongside ongoing efforts to simplify the overall IPO framework.

Nearly Tk1,000 crore worth of proposals withdrawn

According to market sources, around 18 public offering proposals, including IPO applications, have been cancelled or withdrawn at various stages since March 2024.

These proposals could have raised around Tk1,000 crore from the capital market.

The contraction in the primary market is also evident from annual fundraising figures. In 2024, four companies raised Tk645 crore through IPOs. In 2023, four companies raised around Tk202 crore.

Earlier, six companies raised Tk626.26 crore in 2022, while 15 companies raised Tk1,858.44 crore in 2021.

Why are companies staying away?

Market stakeholders point to several factors driving the prolonged IPO drought. Valuation remains a primary concern, as entrepreneurs fear diluting ownership at unfavourable prices.

Regulatory uncertainty further fuels caution, with frequent changes to the IPO framework leaving prospective issuers hesitant to submit filings.

Additionally, companies are wary of post-listing compliance burdens, including stringent requirements for financial reporting, auditing, corporate governance, and independent director appointments.

Business owners are also seeking greater flexibility in how IPO proceeds are utilised – specifically for expanding operations and retiring expensive bank debt.

The problem is now the pipeline

The IPO problem has shifted from approval to pipeline. There are currently no IPO applications awaiting approval at the BSEC.

Although Bangladesh has 66 licensed merchant bankers engaging with prospective issuers, many firms are holding off until a more stable and predictable regulatory landscape takes shape.

To address this, the capital market reform task force has recommended streamlining the IPO process, lowering regulatory fees, reducing compliance hurdles, and implementing digital filing systems.

The key challenge for the government and BSEC is therefore to create a stable framework that encourages quality companies to move from initial interest to formal IPO applications and rebuild the market's pipeline of new issuers.

At the same time, the government has adopted a cautious approach towards taking new loans.

Emphasis is being placed on obtaining foreign loans only after considering the necessity of projects, their economic feasibility, investment benefits and the country’s future debt-servicing capacity.

According to the latest data from the Economic Relations Division (ERD), the government repaid US$453.23 million in principal and interest on foreign loans in July 2026. The amount was US$446.68 million in the same month of 2025.

On the other hand, foreign loan disbursement stood at US$180.1 million in July, compared with US$208.04 million in the same period of the previous year. The commitment for new foreign loans during the month stood at US$14.05 million.

The figures show that alongside regularly servicing its legacy debt, the government has also maintained restraint in taking new loans.

Priority is being given to using borrowed funds for projects capable of generating investment and employment, particularly by creating momentum in productive and manufacturing sectors.

The pressure of foreign debt repayment has increased significantly in recent years.

According to ERD data, the amount of principal and interest repaid against foreign loans in fiscal year 2025-26 increased by around 10 percent from the previous fiscal year to US$4.49 billion. The amount was US$4.09 billion in FY2024-25.

The main reason is that loans taken for large infrastructure and mega projects during the previous Awami League government have now entered the repayment phase.

As the grace periods for many of these project loans taken over the past one and a half decades have expired, repayment of principal and interest has begun.

As a result, the burden of debt servicing has increased during the tenure of the current government.

Talking to BSS, Prime Minister’s Adviser on Finance and Planning Professor Dr Rashed Al Mahmud Titumir said that the Awami League government borrowed extensively between 2009 and 2024 in the name of infrastructure and mega projects.

At the time of taking such loans, the government did not adequately consider the ‘value for money’ from the projects and the interest rates, he said.

He said a huge burden of loans and subsidies was also created in the power sector due to various factors, including capacity charges.

“The current government now has to deal with the additional pressure of repaying those loans. However, the government is servicing these liabilities,” he said.

Saying that the Awami League government had left a debt burden on future generations by taking loans indiscriminately, he said the present government has adopted an extremely cautious approach to borrowing from both domestic and foreign sources.

“We’re prioritising the use of loans to increase momentum in investment, particularly in the manufacturing sector. When taking a loan, we are considering what return it will generate and how much employment it will create before making a decision,” he said.

According to ERD data, repayment of principal and interest on medium-and long-term foreign loans stood at US$2.67 billion in FY2022-23. It increased to US$3.37 billion in FY2023-24 and further rose to US$4.09 billion in FY2024-25.

During the previous Awami League government, substantial foreign financing was obtained for implementing large infrastructure and mega projects.

Foreign assistance was also used significantly in various development programmes.

According to historical ERD data, foreign aid commitments stood at US$10.74 billion in FY2023-24, while disbursement amounted to US$10.28 billion.

Dr Zahid Hossain, former lead economist of the World Bank’s Dhaka office, told BSS that there had been a tendency in the past to take as much foreign borrowing as was available.

Now, decisions on obtaining foreign assistance should be based on assessing the actual necessity of various development projects, he said.

He said financing from the World Bank’s International Development Association (IDA) and Japan was no longer available on terms as easy as before.

Therefore, he said, the government must also consider whether the country has the capacity to repay such loans in the future.

“The government must be extremely cautious in selecting development projects, taking into consideration the country’s capacity to repay both the principal and interest on loans,” Dr Zahid Hossain added.

At the same time, he stressed the need to genuinely implement financial-sector reform initiatives and ensure that their benefits become visible.

According to him, before undertaking a project, its potential financial and economic benefits and the expected return against the investment need to be considered seriously.

Meanwhile, total foreign aid disbursement stood at US$8.07 billion in FY2025-26, down from US$8.57 billion in the previous fiscal year.

Disbursement of project assistance declined to US$8.02 billion from US$8.52 billion. However, grant disbursement increased to US$553.95 million from US$454.56 million in the previous fiscal year.

The World Bank was the largest source of foreign assistance in FY2025-26, disbursing US$2.07 billion during the period. The Asian Development Bank (ADB) followed with US$1.91 billion.

Economists believe that an increasing portion of the loans taken during the previous government has now become repayable.

Therefore, it is essential to accelerate implementation of ongoing projects, complete them within the stipulated timeframe and ensure the expected economic benefits from those projects.

They also recommended negotiating with development partners for loans on better terms and, where possible, prioritising concessional or soft-term financing.

The Dhaka Stock Exchange (DSE) has held an awareness and consultative session with market stakeholders on introducing financial derivatives on its exchange-traded platform to deepen the market and diversify investment products.

Top executives from brokerage firms, merchant banks, asset management companies, and market institutions attended the session, where DSE outlined its roadmap—approved by the Bangladesh Securities and Exchange Commission (BSEC)—to launch derivative products by January 2028.

BSEC Commissioner Nafeez Al Tarik said the regulator supports the introduction of derivatives but stressed that robust infrastructure, strong risk-management systems and an operational central counterparty (CCP) through Central Counterparty Bangladesh Limited (CCBL) are essential prerequisites.

"Derivatives offer crucial hedging and risk management tools against liquidity and volatility risks. However, without proper readiness, they can introduce systemic exposure," Tarik said, stressing timely regulatory amendments and capacity building for brokers.

BSEC Executive Director Abul Kalam said index derivatives are relatively easier to introduce via cash settlement, provided real-time margining, mark-to-market mechanisms, and updated Exchange Derivatives Rules are established.

DSE Managing Director Nuzhat Anwar acknowledged BSEC's guidance and reiterated plans for phased stakeholder workshops.

Saied Mahmud Zubayer, GM of DSE's Market Development Division, presented the product roadmap: launching stock index futures in the first phase, followed by single stock deliverable futures, and eventually an options market in the long term.

The United Arab ​Emirates is building alternative routes for its energy exports and trade to ensure they are not "held ‌hostage" by the ongoing war between the US and Iran, UAE presidential adviser Anwar Gargash said on Monday (7 September).

The conflict has had a significant impact on Gulf Arab states, including the UAE, after Tehran fired missiles at the country and attacked its oil tankers in the Strait ​of Hormuz.

"Our energy exports will not be held hostage, nor will our trade and economic activity," Gargash ​told the Hili Forum in Abu Dhabi.

The UAE has been expanding port capacity along its eastern ⁠coast, as well as developing pipelines, railways and trade routes for alternative corridors, he said.

While acknowledging that relations with Iran ​could eventually recover, Gargash warned that rebuilding trust after the attacks could take decades.

He also criticised Gulf Arab states ​for failing to mount a coordinated response to Iran, saying they had been unable to translate shared concerns into a unified strategy.

US alliance not enough

Qatar's foreign ministry spokesperson echoed similar concerns at the policymakers' forum, saying Gulf Arab countries should not rely solely on ​their strategic partnership with the US for security.

"We need to realise in the Gulf that having international forces ​in the region, having a strategic alliance with the US is very important but is not enough," Majed al-Ansari said.

"Self-sufficiency when it ‌comes ⁠to security is the only way forward."

Gargash argued that while the partnership with the US is essential, the six-month conflict has exposed the importance of national capabilities.

"Our security is our first priority. When we depend entirely on others, we cannot always assume it will be their priority," he said.

Hormuz remains a sticking point

Iran followed through on its ​threat to close the Strait ​of Hormuz, once a ⁠conduit for a fifth of global energy supplies. The disruption sent energy prices soaring and sparked a global economic crisis.

The waterway's status remains a central obstacle in negotiations between ​Washington and Tehran, mediated by Qatar and Pakistan, with Iran claiming the strait ​belongs to Iran ⁠and Oman — a position Gulf states broadly reject.

"Freedom of navigation is not a concession to be granted, nor a principle to be renegotiated under pressure," Gargash said, adding that any long-term resolution must include credible guarantees against further Iranian attacks ⁠on Gulf ​Arab states.

The conflict, sparked by US and Israeli strikes on Iran ​on February 28, remains deadlocked. A preliminary ceasefire reached in June has unravelled, and little progress has been made in efforts to revive the ​peace process.

The Bangladesh Securities and Exchange Commission (BSEC) has called for a share buyback provision for listed companies in the proposed draft amendment to the Companies Act, 1994.

The capital market regulator also urged modernising corporate reporting standards, mandating regulatory consent for mergers involving listed firms, and extending the validity period of financial statements used in prospectuses.

BSEC Executive Director Abul Kalam placed the proposals at a views-exchange meeting on the draft amendment to the Companies Act at the FBCCI Board Room in the capital today (7 September).

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) organised it, with its Administrator Fazlul Hoque in the chair. Commerce Minister Khandakar Abdul Muktadir attended the event as the chief guest.

Representing BSEC, Kalam stated that targeted revisions across various sections are essential to align the law with modern business practices. He noted that despite submitting specific recommendations on 18 December 2025, key proposals – such as share buybacks – were omitted from the current draft.

Highlighting Section 58 of the existing act, which restricts companies from purchasing their own shares, Kalam urged policymakers to allow listed entities to buy back shares under specific conditions to improve capital management and safeguard shareholder interests.

Addressing Section 183, he emphasised updating statutory terminology – replacing "balance sheet" with "annual financial statements" and "board report" with "annual report" – while enabling digital publication and distribution of corporate reports.

Regarding mergers, acquisitions, demergers, and restructuring under Sections 228 and 229, Kalam advocated for formal BSEC involvement whenever a listed company merges with an unlisted entity to protect general investors, citing similar regulatory frameworks in India.

Furthermore, the BSEC representative proposed extending the time limit for using financial statements in prospectuses from 180 days to 270 days. Under current rules, financial data older than 180 days cannot be included in a prospectus for IPOs, rights shares, or bonds. However, Kalam explained that since the audit process alone can take up to 120 days, the remaining 60-day window is often insufficient to complete the approval and filing processes at the Registrar of Joint Stock Companies and Firms.

The government is losing around Tk4,000 crore in annual revenue due to illegal charging of battery-run autorickshaws, with more than 48,000 informal or illegal charging points operating in Dhaka alone, Home Minister Salahuddin Ahmed told parliament today (7 September).

Although an estimated 50-80 lakh battery-run autorickshaws operate nationwide, there are only around 3,300 legal charging points, he said.

The minister disclosed the figures in response to an urgent public-importance notice under Rule 71 of the Rules of Procedure in parliament. Reserved women's seat MP Rehana Akhter Ranu submitted the notice on the "uncontrolled operation of autorickshaws".

Salahuddin said battery-run autorickshaws, e-rickshaws and other electric three-wheelers have become an important part of urban and rural transport over the past decade. But their rapid and largely unregulated growth has increased pressure on the power system, roads and environment.

The electricity needed to charge the vehicles could account for around 5% or more of the country's total generation, he said. Large-scale simultaneous charging is also putting pressure on local distribution networks, while illegal commercial use of residential connections is overloading transformers and distribution lines.

Road safety and environmental concerns

Salahuddin said the unregulated operation of autorickshaws is also increasing traffic congestion and road accident risks.

According to data presented by him, battery-run autorickshaws accounted for 13.54% of the vehicles involved in 6,729 road accidents recorded in 2025.

Unregistered vehicles, untrained drivers, faulty designs, defective brakes and lights, speeding and the operation of slow-moving vehicles on highways are among the factors increasing accident risks, he said.

The minister also raised concerns over unsafe handling and informal recycling of lead-acid batteries, which can cause soil and water pollution. Child labourers face particular health risks, while agriculture and poultry production are also being affected, he said.

Autorickshaws to come under regulation

The government is formulating a policy to bring autorickshaws under a regulated system. Authorised vehicles will have number plates and QR codes, while drivers will be registered, trained and gradually brought under licensing.

Routes, vehicle numbers and movement will also be regulated, with a digital system planned to track vehicles and batteries.

Ranu said she did not seek a ban on autorickshaws but their regulation. She proposed moving them from major roads to secondary routes, introducing solar-powered charging, making BRTA registration mandatory and introducing zone-based operation in Dhaka.

Salahuddin said the policy would balance employment, environmental protection and traffic management.

The minister also informed the parliament that 50 AI-based traffic cameras are operating at 17 intersections in Dhaka, with another 200 being installed under the Ramna and Tejgaon traffic divisions.

The Bangladesh Bank has enlisted 131 valuation firms and companies to assess collateral or mortgaged assets against loans taken or to be taken from scheduled banks.

The central bank issued a circular today (7 September), informing the managing directors and chief executives of all scheduled banks about the enlistment.

According to the circular, the firms were enlisted as eligible under the Enlistment Policy for Collateral Valuation Firms or Companies, issued by Bangladesh Bank on 28 November 2023.

Of the 131 enlisted firms, 98 have been classified under Group A, while 33 have been placed in Group B.

Scheduled banks have been advised to use the enlisted firms to assess collateral provided by their customers against existing or prospective loans.

Banks have also been instructed to follow valuation-related guidelines issued by Bangladesh Bank from time to time.

The enlistment will remain valid for three years. The enlisted firms have been advised to apply for renewal at least six months before the expiry of their enlistment.

However, Bangladesh Bank may cancel the enlistment of any firm before the three-year period if it fails to comply with the conditions of the policy.

The firms have also been instructed to submit their annual reports to Bangladesh Bank by 15 January every year.

Bangladesh has resolved 48 of 61 non-tariff barriers identified in bilateral trade with the European Union (EU), while work is underway to address the remaining 13, Commerce Minister Khandakar Abdul Muktadir said today (6 September).

He disclosed the information at a joint press briefing at the Commerce Ministry in Dhaka following a meeting with officials of the EU Delegation to Bangladesh.

EU Ambassador Michael Miller, Adviser to the Finance and Planning Ministry Rashed Al Mahmud Titumir, State Minister for Foreign Affairs Shama Obaid, State Minister for Planning Zonayed Abdur Rahim Saki and senior officials of the commerce and foreign ministries attended the briefing.

The commerce minister said the EU had earlier raised concerns over several non-tariff barriers affecting bilateral trade. Of the 61 issues identified, 48 have been resolved, while efforts are continuing to address the remaining 13.

He said an EU delegation led by the bloc's ambassador had raised several specific trade-related obstacles in March after the government took office.

Since then, coordinated efforts involving the National Board of Revenue (NBR) and the agriculture, fisheries and livestock, and shipping ministries, among others, had helped resolve most of the issues.

Among the barriers addressed were complications over licence renewals for 100% foreign-owned logistics companies, an increase in the annual limit for importing commercial samples from $10,000 to $20,000, and customs valuation issues involving scanning smart cards used for export traceability.

The minister also said Bangladesh had formally sought EU support for its proposal to defer graduation from the least developed country (LDC) category by three years.

He expressed hope that the EU would support the proposal and that it would eventually be approved.

Muktadir said the issue is expected to come up for a decision at the 81st session of the United Nations General Assembly this month.

He said Bangladesh had therefore sought EU cooperation in support of the proposal.

The minister added that recommendations from the UN Committee for Development Policy (CDP) and the Economic and Social Council (ECOSOC) regarding the deferment proposal had been positive.

Preparations are also advancing for talks with the EU on a free trade agreement (FTA) and an investment protection agreement.

EU Ambassador and Head of Delegation Michael Miller said the European Commission had responded positively to Bangladesh's formal proposals for both agreements.

He said joint technical discussions could begin as early as this week once the necessary approvals from EU member states are completed.

Miller said a transparent, stable and competitive business environment would be necessary to deepen economic cooperation between Bangladesh and the EU.

He added that both sides would benefit from greater transparency and fair competition in public procurement.

The ambassador also expressed hope that discussions on Airbus procurement would move forward as part of efforts to expand aviation and trade cooperation between Bangladesh and the EU.

Responding to a question on imports from the United States, the commerce minister said Bangladesh makes import decisions based on national interest, economic rationale and public need.

He said government procurement decisions involving energy, including LNG, and foodgrains are approved after considering competitive prices, product quality and wastage rates.

Bangladesh's trade policy is not driven by the influence of any particular country, he said, adding that the country's economic interests and public welfare remain the main considerations behind such decisions.