United News of Bangladesh

Bangladesh’s banking sector is experiencing a profound transformation, with a notable surge in small and lower-medium deposits coinciding with a sharp withdrawal of funds by the nation’s wealthiest depositors following the political changeover in August 2024. According to Bangladesh Bank (BB) data, total deposits rose to Tk19.14 lakh crore by the end of September 2025, up from Tk17.41 lakh crore a year earlier, marking a year-on-year growth of 9.98 percent—the second-highest in 18 months. August had recorded a slightly higher increase of 10.02 percent, a 17-month peak. Experts suggest that this paradoxical growth—rising overall deposits despite the exodus of ultra-rich clients—reflects renewed public confidence in the formal banking system amid ongoing economic uncertainty. Abdul Mannan, former executive director of Bangladesh Bank, told UNB, “Fixed-income groups and private sector pensioners are returning to the banking sector because banks are offering 10 to 11 percent returns on different term deposits. These depositors had previously left due to the single-digit interest rate policy of the former regime.” Read more: BB orders strict loan data updates to bar defaulters from election race Wealthy Depositors Withdraw Capital While aggregate deposits are climbing, accounts holding Tk50 crore or more have plunged from 72 to 26 within a year. Similarly, accounts in the Tk25-50 crore range have been halved to 78. Bangladesh Bank officials attribute this outflow to political and structural changes. “Large asset holders always make decisions based on the political environment. Therefore, it is natural for their funds to rapidly move elsewhere when the environment changes,” a senior official said. The main drivers include: ·         Political Vulnerability: Individuals associated with the previous government are reportedly seeking safe havens amid potential investigations. ·         Bank Mergers and Uncertainty: The new government’s consolidation of weaker banks has prompted large withdrawals. ·         Asset Diversification: Funds are moving to less-regulated avenues such as real estate, gold and informal transfers abroad (Hundi). ‘Deposit Protection Ordinance’ issues to boost confidence in banking sector Syed Mahbubur Rahman, MD and CEO of Mutual Trust Bank, observed that the ultra-rich tend to monitor political stability closely and return to investment once confidence is restored. Small Depositors Form the New Pillar In contrast, small and middle-class depositors are becoming the backbone of the sector. BB statistics reveal significant growth in smaller accounts: ·         Accounts holding Tk0-2 lakh rose to 14.76 crore from 13.28 crore in June 2024. ·         Accounts holding Tk2-25 lakh increased to 1.02 crore from 88.77 lakh. ·         Accounts in the Tk25-50 lakh bracket rose to 4.09 lakh from 3.64 lakh, while Tk50 lakh-1 crore accounts increased to 1.72 lakh from 1.59 lakh. ·         Overall, the number of millionaires with Tk1 crore or more grew by 8,552 over the past year, although ultra-rich accounts have declined, suggesting a shift towards medium-level wealth accumulation. Read more: Bangladesh shifts fiscal gears as bank debt falls Government Measures Reinforce Confidence To strengthen depositor confidence, the government introduced the Deposit Protection Ordinance, 2025, guaranteeing refunds up to Tk2 lakh in the event of bank liquidation or bankruptcy. The Deposit Insurance Department issued directives detailing the framework on November 23, emphasising swift disbursement and enhanced risk management for small depositors. “This has restored trust among small depositors, encouraging them to return to the banking system following the political transition,” Rahman said. The developments indicate a structural shift in Bangladesh’s banking sector, as smaller depositors increasingly form the foundation of growth while the ultra-wealthy recalibrate their exposure in response to political and economic changes. Read more: NPLs soar to 35.73% of disbursed loans as irregularities under AL get exposed

A Swiss court has granted a six-month “stay of bankruptcy” to the operating company for the never-opened Nord Stream 2 pipeline, which was built to bring Russian gas to Germany but put on ice shortly before Russia invaded Ukraine in February. The company’s stay was extended from Jan. 10 through July 10 by a regional court in the Swiss canton (state) of Zug, according to a notice published Wednesday in the Swiss Official Gazette of Commerce. Nord Stream 2 AG, a subsidiary of Russia’s Gazprom, is based in Zug. Nord Stream 2′s court-appointed administrator, Transliq AG, sought the extension. German Chancellor Olaf Scholz’s government halted the certification process for the pipeline on Feb. 22, after Russia recognized the independence of two separatist regions in eastern Ukraine. Russian President Vladimir Putin ordered sent troops into Ukraine two days later, and U.S. President Joe Biden President then directed his administration to impose sanctions on the Nord Stream 2 operating company. The pipeline project had long drawn resistance from Ukraine and eastern European countries, as well as bipartisan opposition in the United States. Red more: All you need to know about Nord Stream 2 gas pipeline At the beginning of March, the operating company said it had dismissed all its employees in Zug, who numbered up to 110, according to local officials. Russia once accounted for more than half of Germany’s natural gas supplies but started reducing deliveries in mid-June, citing alleged technical problems with the parallel Nord Stream 1 pipeline. It hasn’t delivered any gas to the country since the end of August.   Putin has periodically taunted the West by raising the prospect of sending gas through Nord Stream 2, a political nonstarter for the German government and others. Read more: Nord Stream 1 resumes gas deliveries to Germany after maintenance In September, undersea explosions damaged both Nord Stream 1 and Nord Stream 2. The prosecutor leading Sweden’s preliminary investigation said last month that investigators found traces of explosives at the site where the pipelines were damaged in an act of “gross sabotage.” Investigators have not given indications of whom they think might be responsible.  

Taking a swipe at the government for frequent power outages across the country, Jatiya Party Chairman GM Quader on Tuesday feared that the country was heading towards bankruptcy. “The people of the country are facing unbearable load-shedding for 4 to 10 hours. There’re preparations to produce 20,000 MW of electricity, but the government is not capable of buying fuel for lack of money,” he said. Although the price of gas has fallen in the world market, the Jatiya Party chief said the government is also unable to procure gas as the exchequer does not have money. He said Sri Lanka was facing load-shedding, a sharp rise in dollar price, a shortage of money to buy fuel and unusual price hikes of daily essentials before going into bankruptcy. “Exactly the same picture is now here in Bangladesh.” He came up with the remarks at a programme at the Jatiya Party Chairman’s Banani office. At the programme, Executive Secretary of Bangladesh Human Rights Commission (BHRC) Mirza Shahadat Hossain and BHRC General Secretary (International Special Representative) Golam Kibria Mollah joined Jatiya Party by presenting a bouquet to GM Quader. GM Quader voiced concern that production of all goods is decreasing since it is not possible to keep industrial factories functioning for the lack of electricity. As a result, he said many people have lost their jobs and become unemployed while the prices of essential commodities have increased several times. Amid such a situation, the Jatiya Party chief said crores of takas are being allocated for mega projects like Sri Lanka and thousands of crores of taka are being laundered abroad,” he observed.  “The government had earlier said the power situation will be normal from September. They’re now saying it will be normal in November. No one knows when the electricity system will be back to normal. So, the country’s people can’t trust the words of the government,” he observed. Read: JaPa won't be slave to any party: GM Quader GM Quader also said people are going through limitless suffering in the current economic reality of the country. “Though the government pledged to prove jobs in all houses, it has now created unemployment in every house. The government also announced to give per kg rice at Tk10, but now the rice is 70 taka per kg. People want to get free from such a miserable situation.” He said the by-polls to the Gaibandha-5 set will be held on Wednesday, but the leaders and activists of his party there are not able to stay at home due to attacks and false cases. “Supporters of the government are committing various types of criminal activities, but they’re filing cases on false charges against Jatiya Party people implicating them with those offences… in fact, the country's electoral system has collapsed and people are no longer showing interest in elections” the Jatiya Party chief observed.

Shops closing, companies going bankrupt and pharmacies with shelves emptying — in Lebanon these days, fistfights erupt in supermarkets as shoppers scramble to get to subsidized powdered milk, rice and cooking oil.

Barraged by hundreds of sex-abuse lawsuits, the Boy Scouts of America filed for bankruptcy protection Tuesday in hopes of working out a potentially mammoth victim compensation plan that will allow the hallowed, 110-year-old organization to carry on.