United News of Bangladesh

The Islami Bank Training and Research Academy (IBTRA) officially inaugurated its 168th internship programme on Sunday. Md Altaf Hossain, acting managing director of Islami Bank Bangladesh PLC, attended the opening ceremony as the chief guest. Presided over by IBTRA Director General ASM Rezaul Karim, the inauguration ceremony was also attended by IBTRA Director (Training) Mohammad Amir Hossain alongside senior faculty members. A total of 175 students from various public and private universities, including one foreign university, are participating in the 60-day structured internship programme, according a press release.

The Bangladesh Securities and Exchange Commission (BSEC) has taken an initiative to introduce licensed agents to promote mutual funds, aiming to expand investment opportunities and increase participation of retail investors in the capital market, its Chairman Masud Khan said on Monday. "Initiatives have also been taken to reform the initial public offering (IPO) policy, frame rules for direct listing and introduce new investment products," he said at a seminar held at the multipurpose hall of the Dhaka Stock Exchange (DSE) Tower in Nikunja marking "World Investor Week 2026." The BSEC chairman said the draft of the reformed IPO policy will be published within a couple of days to seek public opinion. The DSE and the DSE Brokers Association of Bangladesh (DBA) jointly organised the event. Masud said work is underway on several important initiatives, including IPO policy reform, to develop and deepen the capital market. "Rules for direct listing are also being framed, along with steps to promote open-end mutual funds and launch new investment products." Once implemented, these initiatives will expand capital market operations and widen investment opportunities, he said. Disclosing the plan to introduce licensed agents for the mutual fund sector, the BSEC chairman said arrangements are being made to provide short-term training and certification through the Bangladesh Institute of Capital Market (BICM). "Those who receive the training and certificates will be able to work as mutual fund agents." He said opportunities must be increased for general investors to invest in professionally managed mutual funds instead of buying shares directly. "For this, emphasis is being given to expanding the institutional capacity and activities of the sector." Citing India as an example, Masud said licensed mutual fund agents there play an important role in delivering fund services to investors. "The commission believes that introducing a similar system in Bangladesh could increase public participation in mutual funds." On the IPO policy reform, he said the initiative aims to make the listing process for new companies more effective and investor-friendly. "Views of stakeholders will be sought after the draft of the proposed policy is published." The BSEC chairman said investors must review a company's financial statements, cash flow from operations and actual financial strength before investing in an IPO. To protect investors' interests, emphasis must be given to verifying financial information and analysing fundamentals, he added. Masud also urged investors to refrain from making investment decisions based on promises of abnormal profits or unverified information. He said regulators, stock exchanges, the media and investors must work together to ensure transparency, accountability and investor confidence in the market. According to the BSEC chairman, to make the country's capital market more effective and sustainable, it is necessary to increase alternative investment avenues and deepen the market.  Development of mutual funds, introduction of new investment products and reforms in the listing process can play an important role in this regard, he said. The introduction of mutual fund agents will make it possible to deliver professional investment management to investors, while the IPO policy reform and framing of direct listing rules are aimed at making the entry of new companies into the market more effective, Masud added.

Dhaka Stock Exchange (DSE) Chairman Mominul Islam on Monday warned that investors are being defrauded through fake investment offers, misinformation and promises of doubling their money in a short time on social media. "Investors are suffering financial losses due to these scams, which are run using the logos of stock exchanges and financial institutions," he said at a seminar titled "Digital Deception and Scam Alert" held at the DSE Tower in the capital's Nikunja area. Mominul said public confidence in the capital market is also being eroded, stressing the need for modern surveillance, enforcement of laws, greater investor awareness and stronger communication to tackle the situation. The DSE and the DSE Brokers Association of Bangladesh (DBA) jointly organised the seminar as part of "World Investor Week 2026." The DSE chairman said a key condition for ensuring effective information flow in the capital market is delivering timely, accurate and complete information to investors. “However, with the spread of social media, digital fraud has emerged as a new challenge.” Using the logos of stock exchanges and various financial institutions, many people are posing as registered or licensed financial analysts, he said, adding that such moves are aimed at misleading and influencing investors. Unrealistic promises, such as turning Tk 1 lakh into Tk 2 lakh within two weeks, are being used to lure people into traps, Mominul said. Fraudsters are running various scams, including Ponzi schemes, by exploiting people's desire to get rich quickly, he said, noting that social media has spread such frauds far more widely than before. The DSE chairman further said a huge volume of information unrelated to market fundamentals is circulating on social media. “Some individuals, in the name of technical analysis, are making remarks about the market that have no connection to its fundamentals.” "Vested quarters may be behind such activities," he said, adding that investors are being confused and there is a risk of disruption to the normal functioning of the market. Mominul said the DSE has taken steps to modernise its surveillance and monitoring systems. It is also moving to make investor awareness programmes more effective in coordination with the Bangladesh Securities and Exchange Commission (BSEC), he said. Preventive measures alone cannot stop digital fraud, the DSE chairman said, adding that credible information and positive messages must also be presented to counter misleading campaigns. For this, he stressed building strong brokerage houses, merchant banks and asset management companies in the capital market, saying their institutional capacity and governance must be improved while also focusing on earning public trust. Mominul underlined the need for collective efforts to develop the capital market as a strong and effective pillar of the economy. Effective surveillance, greater awareness and a robust communication system must be built to combat digital fraud and restore investor confidence, he added.

Chinese company Longteng Garment Co Ltd will invest US$17 million to establish a garment factory at Mongla Export Processing Zone (MEPZ), creating employment opportunities for 3,005 Bangladeshis. The Bangladesh Export Processing Zones Authority (BEPZA) signed a land lease agreement with the company at the BEPZA Complex in Dhaka on Monday. BEPZA Member (Investment Promotion) Md Tanvir Hossain and Longteng Garment Chairman Lin Qiangqiang signed the agreement on behalf of their respective organisations. BEPZA Executive Chairman Major General Mohammad Moazzem Hossain witnessed the signing ceremony along with senior officials of the authority. The Chinese company will set up its factory on 16,426.37 square metres of land, with an annual production capacity of 6 million pieces of underwear and bras. The products will be supplied to international brands, including Aerie, Calvin Klein, Zara, Florence & Fred (Tesco), ASOS and Primark. Major buyers will include H&M, Walmart, Marks & Spencer and Gap. The company plans to export its products to major markets, including the United States, the United Kingdom, Europe, Algeria, Brazil, Australia, Chile, Mexico, Iraq, Japan and Canada. Welcoming the investment, BEPZA Executive Chairman Moazzem thanked the company for placing its confidence in Bangladesh and BEPZA as an investment destination. He assured the investor of the authority’s necessary support and cooperation in setting up the factory and ensuring smooth business operations. As of September 2026, 39 enterprises were operating in Mongla EPZ, while another 10 were at the implementation stage, according to a press release. The zone has recorded cumulative exports of $1.7 billion and total investment of $271.74 million, generating employment for 16,212 Bangladeshi nationals.

All scheduled banks will remain closed for five consecutive days from October 20 on the occasion of Durga Puja. According to a circular issued by the Supervised Data Management and Analytics Department (SDAD) of Bangladesh Bank on Sunday, banks will remain closed for three days due to a public holiday from October 20 to 22 (Tuesday to Thursday), followed by the regular weekend holidays on October 23 and 24 (Friday and Saturday). However, banks will operate under normal business hours on Saturday, October 17, 2026. The central bank directive follows a notification issued by the Ministry of Public Administration on October 7, 2026. Meanwhile, bank branches, booths, and sub-branches located in sea, land, and airport port areas will keep operations related to import and export running on a limited scale during the public holidays (October 20-22) and the subsequent weekend holidays (Friday, October 23, and Saturday, October 24). These branches can make necessary arrangements in coordination with local administration and port or customs authorities in line with existing guidelines.

LPG distributors have announced a two-day nationwide shutdown of cylinder sales on October 15 and 16 protesting against “harassment by magistrates” and demanding commission re-fixing. The announcement was made on Monday by Selim Khan, president of the LPG traders cooperative society at a press conference at the Jatiya Press Club. Khan warned that if their core demands are not addressed within the stipulated two-day period, the association will enforce an indefinite nationwide suspension of LPG sales. According to industry leaders, out of numerous licensed operators, only six to seven companies remain actively operational, leaving hundreds of thousands of gas cylinders lying unused across the country.  The association urged the government and active LPG operators to refill these idle cylinders and distribute them through authorised dealers to ensure consumers can purchase cooking gas at fair prices. The distributors' platform also demanded that the Bangladesh Energy Regulatory Commission (BERC) ensure that once monthly prices are fixed, individual companies cannot arbitrarily alter them. Any subsequent price adjustments, they argued, must strictly go through the regulatory body. Furthermore, the association strongly criticised the National Directorate of Consumer Rights Protection (DNCRP) and executive magistrates, accusing them of subjecting dealers and retailers to unreasonable fines and harassment amid ongoing market volatility.  They pointed out that many companies have suspended operations or are struggling to open Letters of Credit (LCs) for raw material imports due to foreign exchange and financial pressures. Selim Khan said the BERC Chairman contacted him and assured that the commission is actively reviewing the traders' demands and will take necessary steps soon.

Asian stock markets showed mixed trends on Monday, while oil prices fell about $1.50 a barrel after US President Donald Trump’s plan to buy diesel from Russia drew criticism from lawmakers. US stock futures rose more than 0.3% after Wall Street ended a record-setting week with gains. Investors are now looking ahead to US inflation and retail sales data, along with quarterly earnings reports from major banks. In Asian trading, South Korea’s Kospi fell 3.1% to 6,416.17, while markets in Tokyo remained closed for a holiday. Hong Kong’s Hang Seng Index edged up 0.2% to 24,253.70, while the Shanghai Composite slipped 0.1% to 3,809.08. Australia’s S&P/ASX 200 jumped 0.9% to 8,790.70. Taiwan’s Taiex lost 0.2%, while India’s Sensex rose 0.1%. On Friday, the S&P 500 gained 0.6%, the Dow Jones Industrial Average rose 0.8% and the Nasdaq Composite added 0.6%. Oil prices have fluctuated amid uncertainty over when the war with Iran will allow the global energy market to return to normal. Trump announced on social media Friday that he had reached a deal with Russian President Vladimir Putin during a phone call to purchase Russian diesel, aiming to bring down rising fuel prices ahead of the November 3 US midterm elections. Trump said Russia would immediately supply more than 300,000 tonnes of diesel to the US and global markets, followed by another 500,000 tonnes in November and 1 million tonnes “immediately thereafter”. Russia would deliver a further 3 million tonnes “within a short period of time”, he added. The plan conflicts with US efforts to limit Russia’s oil and gas revenues, which help fund its war against Ukraine. The announcement came weeks after Congress passed legislation directing Trump to impose substantial tariffs on major importers of Russian oil or natural gas. The law includes an exception for countries importing less than 15% of Russia’s natural gas exports that have taken significant steps to reduce those imports. A bipartisan group of six US senators on Sunday urged the administration to “immediately reverse course” on the plan. Brent crude, the international benchmark, fell 1.4% to $103.31 a barrel early Monday, while US benchmark crude dropped 1.7% to $90.31. Inflation and corporate earnings in focus Stock prices have continued to rise on expectations of strong corporate earnings, even as Americans face growing pressure from high inflation. A preliminary report from the University of Michigan released Friday showed that US consumers expect inflation to reach 4.7% over the next year, up from 4.6% a month earlier and 3.4% in February, before the war with Iran began. Consumer sentiment has fallen sharply among lower-income Americans and those with smaller stock investments, who are less able to cope with rising living costs. Companies face pressure to deliver strong profit growth after their share prices approached record highs despite pressure from elevated bond yields. Major banks, including Citigroup, JPMorgan Chase and Wells Fargo, are scheduled to report their latest quarterly earnings on Tuesday. In currency trading early Monday, the US dollar rose slightly to 158.27 Japanese yen from 158.23 yen, while the euro climbed to $1.1211 from $1.1191.

A seminar titled “Smart Investing: Investor Awareness, Market Integrity and Fraud Prevention” was held on Sunday at the Bangladesh Institute of Capital Market (BICM) multipurpose hall in observance of World Investor Week 2026. Jointly organized by BICM and the Bangladesh Academy for Securities Markets (BASM), the event was designed in alignment with the International Organization of Securities Commissions (IOSCO) World Investor Week theme focusing on investor resilience, digital fraud, and fraud awareness under the global slogan "Invest in your future, secure it today." BICM Associate Professor Faisal Ahmed Khan presented the keynote paper at the seminar. The event was presided over by BICM Executive President Wajid Hasan Shah, while BASM Director General Kamrul Anam Khan and Bangladesh Securities and Exchange Commission (BSEC) Executive Director Mohammad Shafiul Azam attended as special guests. Addressing the seminar, BASM Director General Kamrul Anam Khan urged investors to make well-considered, independent investment decisions. "You must review your own accounts and make informed choices. Following others blindly will only lead to losses; the money is yours, and so must be the investment decision," he noted. BSEC Executive Director Mohammad Shafiul Azam emphasized that market stakeholders must act as vigilant gatekeepers to safeguard investors. Stating that fraudulent activities must be halted immediately upon detection, he noted that suppressing market fraud is essential to protecting investor interests. In his presidential address, BICM Executive President Wajid Hasan Shah observed that a large section of participants in the local share market tend to chase quick, short-term profits. He stressed that the capital market is fundamentally a platform for long-term investments in sound companies, which yields superior returns over time. The seminar was also attended by BICM Director (Administration and Finance) Nazmuch Salekin, alongside faculty members, officials, and invited guests from both institutions, according to a press release.  

Tobacco companies are selling 53 cigarette brands at 12 different price points under the government-approved four-tier pricing system, allowing smokers to switch to cheaper brands according to their affordability, according to a survey by PROGGA (Knowledge for Progress). The rapid survey, conducted among 80 retailers in eight divisional cities in September 2026, found that cigarettes in the low-price tier alone were available at eight different prices, according to a press release issued on Sunday. The highest-priced cigarette in the low tier costs Tk 90, almost matching the starting price of the medium tier at Tk 92, the survey found. Anti-tobacco advocates have long demanded that the number of cigarette price tiers be gradually reduced from four to one, preventing consumers from opting for cheaper brands or switching according to their affordability when prices rise. Global evidence suggests that a single price tier can maximise the impact of tobacco tax and price increases, particularly by encouraging young people and low-income consumers to quit smoking and discouraging smoking initiation. However, in Bangladesh, with cigarettes currently available at 12 different price points, tax and price increases are failing to achieve their full potential in reducing cigarette consumption, PROGGA said. This is largely attributable to the existing flawed cigarette tax structure, it said. Analysis of the survey data reveals that by using the phrase “and above” to each price tier, the government has effectively granted companies the flexibility to utilise price ranges. For instance, the low tier is designated as “Tk 65 and above”, while the medium tier is set at “Tk 92 and above”. In other words, companies can market cigarettes in the low tier at any price point ranging from Tk 65 to Tk 91, while the existing structure allows them to market different brands at numerous price points across the tiers, all the way up to the premium tier. The survey recommends eliminating the “and above” provision from the price tiers, setting a single price point for each tier, and gradually reducing the number of tiers to one to maximise the impact of tobacco tax and price increases.

Bangladesh's ready-made garment (RMG) export earnings grew by 6.10 percent year-on-year to reach US $10.58 billion during the first quarter (July–September) of the fiscal year 2026–27, according to data released by the Export Promotion Bureau (EPB). During the July–September period, the European Union (EU) remained the single largest export destination for Bangladeshi apparel, accounting for 46.36 percent of total RMG exports. Earnings from the EU market stood at $4.90 billion, registering a positive year-on-year growth of 3.33 percent. The United States retained its position as the second-largest individual market for Bangladesh's RMG products. Exports to the USA amounted to $2.22 billion, representing 20.99 percent of total apparel shipments and a strong 10.40 percent year-on-year increase. Meanwhile, exports to the United Kingdom reached $1.29 billion, capturing a 12.21 percent market share with a 5.94 percent growth rate. Canada accounted for $349.65 million (3.31 percent share), posting a 3.85 percent increase compared to the same period of the previous fiscal year. Exports to non-traditional markets demonstrated robust momentum, surging to $1.81 billion. Non-traditional destinations now account for 17.13 percent of total RMG shipments, reflecting a 9.40 percent year-on-year growth. In terms of product categories within the apparel basket, the knitwear sector performed strongly with a 6.88 percent growth, while the woven segment posted a 5.11 percent increase during the July–September quarter. The EPB data analysis by Mohiuddin Rubel, CEO of Apparel Voice, a think tank on RMG market analysis. He said that despite different global and domestic challenges, Bangladesh’s export increased in a positive trend.