United News of Bangladesh

Bangladesh Bank Governor Mohammad Mostaqur Rahman on Monday asserted that Islami Bank Bangladesh PLC (IBBL) will no longer operate under the influence of any specific group, political party, or family, marking a departure from its functioning during the previous Awami League regime. The Governor made these remarks during a high-level meeting at the central bank headquarters with the Chairman of Islami Bank, four board members, and the top 10 executives of the Shariah-based bank. "Islami Bank was once an exceptionally strong institution, but it later suffered from a severe lack of good governance," the Governor reportedly told the officials.  He assured that the central bank would provide all necessary cooperation to restore the bank’s stability and maintain its performance, an official present in the meeting told this to UNB. The meeting comes amid ongoing protests by thousands of terminated IBBL officials seeking reinstatement. When asked if the Governor addressed these human resource grievances, a meeting attendee confirmed the matter was not raised during today's session. The Shadow of S. Alam Group According to a Bangladesh Bank report recently submitted to the Anti-Corruption Commission (ACC), the S. Alam Group exerted significant influence over eight banks, four of which were directly or indirectly under its control. The group reportedly withdrew Tk 1.90 lakh crore in loans from these four institutions. Data from the Bangladesh Financial Intelligence Unit (BFIU) reveals that Tk 93,364 crore was laundered from these banks through fraudulent means and shell companies. Notably, Tk 1.05 lakh crore was taken from Islami Bank alone.  The report highlights that Saiful Alam Masud, head of S. Alam Group, used his influence to secure these funds either in his own name or through various intermediaries. Financial Performance in 2025 Despite past governance challenges, Islami Bank reported significant operational growth over the last year. By the end of 2025, the bank's total deposits stood at Tk 1.83 lakh crore, marking an increase of over Tk 22,000 crore within a single year. Deposits in the agent banking sector also rose by Tk 5,000 crore to reach Tk 22,000 crore. In terms of international trade and remittances, the bank collected Tk 76,000 crore in expatriate income over the past year. During the same period, IBBL’s import and export trade volumes reached Tk 60,000 crore and Tk 32,000 crore, respectively. The bank’s customer base has expanded to 30 million, with 5 million new customers joining in the last year alone. Islami Bank board meeting discusses business performance, takes policy decisions While the bank’s non-performing loans (NPLs) stood at a high of Tk 1.06 lakh crore (58 percent of total loans) as of September last year, the bank managed to recover Tk 14,159 crore in the final quarter. Currently, the bank's total defaulted loans stand at Tk 92,115 crore, accounting for 47 percent of its total loan portfolio.

The National Board of Revenue (NBR) has introduced an online system allowing individual taxpayers to apply for an extension to submit their income tax returns for the 2025–2026 tax year. The revenue authority has made online submission of income tax returns mandatory for most individual taxpayers, with a few exceptions. According to the NBR, nearly five million individual taxpayers have already registered on its e-Return system, while around 4.1 million have submitted their returns for the current tax year. The deadline for filing returns for individual taxpayers has been extended until 31 March 2026, the NBR said in a press release on Monday. However, taxpayers who submit a written request before the deadline may receive an additional extension of up to 90 days, subject to approval by the respective tax commissioner. To make the extension process easier, faster and more transparent, the NBR has launched a dedicated online facility within its e-Return system. Taxpayers can now log in to the system and apply for additional time through the “Time Extension” menu. The concerned tax commissioner will review the application online and either approve or reject it. If the request is approved, taxpayers will be able to submit their returns within the extended deadline without any penalty or additional tax, the NBR said. However, taxpayers must be registered in the e-Return system and submit the extension request before 31 March 2026 to use the online facility. Those taxpayers for whom online filing is not mandatory may apply for an extension either online or by submitting a written application directly to the relevant tax circle. The NBR has urged all individual taxpayers to submit their income tax returns for the 2025–2026 tax year through the e-Return system by 31 March 2026, or within the additional time approved by the tax commissioner.

Bangladesh Bank (BB) on Sunday issued a comprehensive policy for credit cards, doubling the loan limit to Tk 40 lakh from the previous Tk 20 lakh to encourage a cashless ecosystem. The central bank also capped the maximum interest rate on credit card loans at 25 percent. According to the new circular, banks can now provide up to Tk 20 lakh in unsecured loans (without collateral) and up to Tk 40 lakh against collateral. Previously, these limits were Tk 10 lakh and Tk 20 lakh, respectively. The policy further specifies that cardholders can withdraw a maximum of 50 percent of their total credit limit in cash. The central bank stated that the updated policy aims to reduce complexities as the use of credit cards as an alternative to cash continues to rise. The guidelines are designed to strengthen risk management, protect consumer rights, and encourage responsible lending. The policy clarifies that the maximum 25 percent interest rate can only be applied to the outstanding balance, not the total bill amount. While interest-free periods apply to purchases, no such facility will be available for cash withdrawals. Regarding fees, the central bank directed that no charges can be levied before a card is activated. Late payment fees can only be imposed once per billing cycle. Furthermore, banks must notify cardholders via written or electronic means at least 30 days before changing interest rates or other charges. To prevent harassment, the guidelines strictly prohibit banks or recovery agents from physically or mentally harassing or threatening customers. The privacy of the cardholder's family, friends, or referees must be maintained. Recovery-related communication, whether via phone or in person, must be restricted to standard office hours. Banks are also required to maintain 24-hour helplines to allow customers to block cards immediately in case of loss or theft. To obtain a credit card, applicants must be at least 18 years old, possess an e-TIN certificate, and have a clean Credit Information Bureau (CIB) report. Students aged 16 who are dependents of a primary cardholder are eligible for supplementary cards. This new policy replaces the previous guidelines issued in 2004.

The National Board of Revenue (NBR) on Sunday extended the deadline for companies to submit their income tax returns by one month. The new submission date is now April 15. The extension applies specifically to the 2025-26 tax year, according to an NBR notification issued on Sunday. The decision comes in response to formal requests from various business sectors that sought additional time to complete the mandatory filing process. Under the previous schedule, the deadline for corporate tax return submissions was set to expire on March 15.

The price of gold has been reduced by Tk 2,683 per bhori in the local market, with the new rate for 22-carat gold set at Tk 262,265 per bhori, the Bangladesh Jewellers Association (Bajus) announced on Saturday. In a statement issued in the morning, Bajus said the decision was taken considering the overall market situation following a decrease in the price of pure gold (tejabi gold) in the local market. The new rates came into effect immediately. According to the revised prices, 21-carat gold will cost Tk 250,368 per bhori (11.664 grams), while 18-carat gold has been fixed at Tk 214,618 per bhori. The price of gold produced through the traditional method has been set at Tk 174,785 per bhori. Bajus last adjusted gold prices on March 13, when the price of 22-carat gold was reduced by Tk 2,158 to Tk 264,948 per bhori. So far in 2026, gold prices have been adjusted 43 times in the country, including 26 increases and 17 reductions. Along with gold, the price of silver has also been cut this time. The price of 22-carat silver has been reduced by Tk 292 to Tk 6,065 per bhori. Under the new rates, 21-carat silver will cost Tk 5,774 per bhori, while 18-carat silver has been set at Tk 4,957 per bhori. Silver produced through the traditional method will cost Tk 3,732 per bhori. With this latest revision, silver prices have been adjusted 27 times in the local market so far this year, including 16 increases and 11 reductions.

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) on Thursday urged the government to ensure policy continuity in the upcoming national budget for FY2026–27 to facilitate business expansion and maintain investor confidence amid ongoing global economic uncertainties. The call came during a pre-budget consultation meeting with FBCCI’s member bodies held at the apex trade body's Motijheel office in the city, where recommendations for the next fiscal budget were discussed. In its proposals, FBCCI emphasised rationalising interest rates, increasing the tax-to-GDP ratio, full implementation of one-stop services for businesses, and modernising port and logistics management. The organisation also called for ensuring uninterrupted power and energy supply, developing priority sectors to diversify exports, establishing a central bonded warehouse, and enacting stakeholder-based legislation. During the open discussion, business leaders advised the government to expand the tax net to raise the country’s tax-to-GDP ratio. They also urged the National Board of Revenue (NBR) to strengthen transparency and accountability through automation and integration in tax policy, procedures and administration. FBCCI Administrator Md Abdur Rahim Khan said the government aims to increase the tax-to-GDP ratio to 15 percent. Assuring the business community, he said efforts to increase revenue collection would not necessarily lead to higher tax burdens on existing taxpayers. “Revenue growth will rather come through expanding the tax base.” Rahim Khan also said FBCCI will present the rational proposals from the private sector at the 46th advisory committee meeting of the NBR. Earlier, in his welcome remarks, FBCCI Secretary General Md Alamgir said the FY2026–27 budget is being prepared at a time when the global economy remains unstable, the energy market volatile and investment prospects uncertain. “In such circumstances, preparing the national budget will be challenging for the new government,” he said, urging the business community to support the government by offering constructive and realistic proposals. The meeting was attended by former NBR member and FBCCI Budget Expert Committee member Md Farid Uddin and Aminur Rahman, along with former FBCCI directors, leaders of various chambers and associations, and officials of the organisation.

The Board of Directors of Islami Bank Bangladesh PLC held a meeting on Thursday to review the bank’s recent business performance and deliberate on key strategic matters. The meeting, held at the Islami Bank Tower in the capital, was presided over by Professor Dr. M. Zubaidur Rahman, Chairman of the bank. The session was attended by the heads of the bank's specialized committees and top management, including Mohammad Khurshid Wahab, Chairman of the Executive Committee. Md. Abdus Salam, FCA, FCS, Chairman of the Audit Committee, Professor Dr. M. Masud Rahman, Chairman of the Risk Management Committee, Md. Abdul Jalil, Independent Director, Md. Omar Faruk Khan, Managing Director, Md. Habibur Rahman, Company Secretary. According to a press release, the board conducted a comprehensive review of the bank’s current operational status and financial health. Following the discussions, several important policy-related decisions were adopted to strengthen the bank's governance and market position. The board expressed its commitment to maintaining the bank's growth momentum while ensuring compliance with regulatory frameworks.

The Bangladesh Petroleum Corporation (BPC) has decided to continue supplying fuel oil on weekly holidays (Friday and Saturday) to ensure market stability and maintain uninterrupted supply across the country. In a message signed by BPC Deputy Secretary Shahina Sultana on Thursday, the corporation said the move aims to keep the supply of fuel oil normal in line with public demand. According to the statement, the government has already scheduled fuel imports from abroad and shipments are arriving regularly as part of the planned supply chain. At the same time, fuel is being distributed from the main installations to depots across the country through rail wagons and tankers on a regular basis to ensure smooth delivery to dealers. Following directives from the Energy and Mineral Resources Division and BPC, the depots and main installations of the corporation’s marketing companies will remain open on government holidays to continue fuel distribution nationwide. Earlier on Wednesday, BPC issued another directive to ease fuel supply pressure in divisional cities and meet public demand. The corporation reduced the previous restriction on fuel allocation cutting the reduction in average sales of octane and petrol in divisional cities from 25 percent to 15 percent. Under the revised instruction, filling stations will now receive fuel supplies based on the updated allocation chart to ensure smoother distribution.

The price of gold in Bangladesh dropped by Tk 3,324 per bhori on Thursday, following two consecutive hikes, according to the Bangladesh Jewellers Association (BAJUS). In a notification issued on morning, BAJUS said the new price of 22-carat gold has been fixed at Tk 267,106 per bhori (11.664 grams), effective immediately. The association said the price adjustment was made as the price of pure gold (tejabi gold) declined in the local market. Under the new rates, 21-carat gold will cost Tk 254,975 per bhori, while 18-carat gold has been priced at Tk 218,583 per bhori. The price of gold produced through the traditional method has been set at Tk 178,401 per bhori. BAJUS last adjusted gold prices on March 11, when the price of 22-carat gold was increased by Tk 2,216 per bhori to Tk 270,430. So far in 2026, gold prices have been adjusted 41 times in the local market: raised 26 times and reduced 15 times. Alongside gold, the price of silver has also been reduced this time. BAJUS lowered the price of 22-carat silver by Tk 350 per bhori, setting the new rate at Tk 6,357. In 2026, silver prices have been adjusted 26 times so far, with 16 increases and 10 reductions.

Gold prices in Bangladesh have increased again within a day as the Bangladesh Jewellers Association (Bajus) on Wednesday raised the price of 22-carat gold by Tk 2,216 per bhori. With the latest adjustment, the price of 22-carat gold has been set at Tk 270,430 per bhori (11.664 grams), according to a Bajus notification issued in the morning. The association said the price of tejabi gold (pure gold) has increased in the local market, prompting the revision of gold prices. The new rates have taken immediate effect across the country. Under the revised pricing, 21-carat gold will cost Tk 258,124 per bhori, while 18-carat gold has been fixed at Tk 221,266 per bhori. The price of gold produced through the traditional method has been set at Tk 180,617 per bhori. Just a day earlier, on Tuesday, Bajus had increased the price of 22-carat gold by Tk 3,266 per bhori, setting it at Tk 268,214. So far in 2026, gold prices have been adjusted 40 times in the country, including 26 hikes and 14 reductions. Alongside gold, the price of silver has also been increased. Bajus raised the price of 22-carat silver by Tk 175 per bhori, setting it at Tk 6,707. The price of 21-carat silver has been fixed at Tk 6,415 per bhori, while 18-carat silver will cost Tk 5,482 per bhori. Silver produced through the traditional method has been priced at Tk 4,082 per bhori. This year so far, silver prices have been revised 25 times, including 16 increases and nine decreases.