Bangladesh Financial News

Uttar Pradesh took out a protest march on Sunday over attacks on Hindus in Bangladesh. People in Varanasi took out a protest march in the city. In Ayodhya, Mahants and Hindu organisations took out a protest march in the city. Former BJP leader Pandit Sunil Bharala said, «The Hindu minority in Bangladesh is under threat at the moment. The temples and mutts are not secured and at night they are guarding it. Our daughters are also not safe. I condemn these attacks and appeal to the Bangladesh interim government to protect them. Our Prime Minister Narendra Modi has taken a strong stand on it. There is anger in the country. India should take a strong decision on this issue if this continues.»

In recent weeks, Bangladeshi garment-factory owners have been on the phone with Western clothing brands, making the case that their country is a stable link in their supply chains. It has been a tricky sell. The world’s second largest garment producer has been rocked in recent weeks by protests and instability triggered by anger over grim employment prospects.

Sheikh Hasina has alleged that the USA aimed to oust her from power due to her refusal to cede control of Saint Martin Island, which would have allowed the USA to exert influence over the Bay of Bengal. Hasina, in a message conveyed through her close associates and made available to ET, claimed that by surrendering the sovereignty of Saint Martin Island, she could have stayed in power. However, she chose not to compromise on the island's sovereignty, highlighting the island's strategic importance and the potential geopolitical influence it represents in the region.

Bangladesh, an interim government is now in place to begin the difficult work of bringing stability and order to the South Asian nation. Nobel laureate Muhammad Yunus will helm the temporary government made up of a team of 16 other advisers, including two leaders of the student-protest movement that swept the country in recent weeks. The inauguration of the temporary government on Thursday brought to an end a four-day power vacuum after former Prime Minister Sheikh Hasina fled to India following street protests that left hundreds dead.

Bangladesh will travel to Pakistan ahead of schedule to hold practice sessions in Lahore before their two-test bilateral series, the Pakistan Cricket Board (PCB) said late on Saturday. Ongoing political turmoil in Bangladesh has disrupted the team's training, local media reported. Prime minister Sheikh Hasina fled the country following weeks of protests, with an interim government led by Muhammad Yunus taking charge. The Bangladesh Cricket Board did not immediately reply to a request for comment on reports practice session has been disrupted by the unrest.

economy back on track so that it does not come to a standstill, finance and planning adviser Salehuddin Ahmed has said. Former Bangladesh Bank governor Ahmed was entrusted with the charge of the finance and planning ministries by interim leader Muhammad Yunus, who announced the portfolios of his 16-member council of advisors on Friday. The interim government was formed after the fall of the Sheikh Hasina-led Awami League government on August 5 following widespread protests against her government over a controversial quota system in jobs. Talking to reporters on Saturday for the first time after assuming office, Ahmed said the government's priority is to restore the trust of common people in the banks while resuming the operations of the central bank.

Bangladesh Nationalist Party (BNP) leader and PM-in-waiting Tarique Rahman allegedly held meetings with Pakistani intelligence agency ISI in a Gulf nation where a plan was hatched to organise a campaign for ousting the Sheikh Hasina government, said people in the know. Rahman allegedly travelled to the Middle Eastern country a few months ago for meeting the ISI officials where the plot was hatched for launching the campaign and creating conditions in Bangladesh for ousting Hasina, ET has reliably learnt. ET had reported last week how the Pakistan Embassy in Dhaka allegedly played a role in instigating the move to hijack the student movement.

Protesters carried American and Bangladeshi flags and held posters demanding that Bangladeshi minorities be «saved.» They chanted slogans of «We want justice» and called for peace amid the recent surge in violence. The crowd, which included activists from various human rights organizations, members of the Bangladeshi diaspora and Indian-American Hindu allies, came from Washington, Maryland, Virginia, and New York.

Nirmala Sitharaman on Saturday said lenders need to focus on raising smaller deposits that come in “trickles,” but are the “bread and butter” of the banking system. She commented on the widening gap between deposits and credit, which has become a cause for concern, at a media briefing after the Reserve Bank of India (RBI) board meeting in the capital on Saturday. Sitharaman said deposits and lending are the two wheels of a cart, but “deposit is moving slowly.” RBI governor Shaktikanta Das said the banking regulator had sounded out banks on this as a matter of proactive caution as the trend can lead to potential liquidity issues.

Michael Kugelman, Director of the South Asia Institute at The Wilson Center, said on Saturday that the longer Bangladesh's interim government stays in power, the higher the chances of the military assuming a more definitive role in the country's politics. His remarks come amid ongoing political unrest in Bangladesh, following the ousting of former Prime Minister Sheikh Hasina, which has left the timing of general elections uncertain. Kugelman emphasized that the Awami League, Hasina's party, is currently sidelined, with no representation in the interim government. However, he noted that if unrest persists, the Awami League might regain favour in future elections.

study abroad platforms including CollegeDekho, iSchoolConnect, Leverage.biz, Career Mosaic, among others told ET that Indian colleges have lately become safer bets or at least a back-up option for students considering international markets for education. The reasons: protests escalating into violence, political unrest, tighter visa policies, geo-political tensions and economic slowdown in many of the study abroad destinations for Indian students, said experts. Nations like Canada, Australia and the UK that are home to the bulk of Indian students have tightened visa policies leading to higher rates of rejection. Others like Russia, Ukraine, Bangladesh and even some regions in the UK and the US are grappling with either public unrest or geopolitical tensions, making them unattractive.

Vice President Jagdeep Dhankhar has condemned recent remarks by Congress leaders comparing the unrest in Bangladesh to potential scenarios in India. Speaking at the platinum jubilee celebrations of the Rajasthan High Court in Jodhpur, Dhankhar expressed his disapproval of these comparisons, which he believes undermine national stability. “Be on watch out!!! Efforts by some to infuse a narrative that what happened in our neighbourhood is bound to happen in our Bharat, is deeply concerning. How can a citizen of this country having been a Member of Parliament, and the other who has seen enough of Foreign Service takes no time in saying that what happened in the neighbourhood will happen in India!” Dhankhar said.

Muhammad Yunus condemned recent attacks on minority communities in the country, calling them «heinous,» and called on the youth to protect Hindu, Christian, and Buddhist families. Speaking at Begum Rokeya University in Rangpur, Yunus urged students to ensure the safety of minorities and not let their efforts be undermined. These remarks come following the fall of Sheikh Hasina's government on August 5, which led to at least 205 incidents of attacks on minority communities across 52 districts, according to the Bangladesh Hindu Buddhist Christian Unity Council and the Bangladesh Puja Udjapan Parishad. Thousands of Bangladeshi Hindus are attempting to flee to neighboring India to escape the violence. Yunus, addressing students who are leading protests, assured them that many were watching their efforts and encouraged persistence in their cause. «There are many standing by to make your efforts futile. Don't fail this time,» Yunus stated during his speech.

Bangladesh was hailed as an economic miracle. Its singular focus on exporting textiles and apparel delivered rapid growth, lifting millions out of poverty and winning the country's prime minister, Sheikh Hasina, fame and admiration. But Hasina's abrupt exit from power this week has exposed the limitations of that strategy, as Bangladesh struggles to combat steep inflation and joblessness that economists say are largely the result of poor policy decisions. Her increasingly authoritarian rule and Bangladesh's widespread corruption only added to the frustration that boiled over and forced her ouster. Now, Bangladesh must decide its future.

Bangladesh Prime Minister Sheikh Hasina Sajeeb Wazed Joy has expressed gratitude to Prime Minister Narendra Modi for his government's quick action following the developments in the neighbouring country which led to her departure. Sheikh Hasina's son also dismissed media reports of a revocation of her visa stating that no one has revoked the visa of the Awami League leader and neither has she applied for political asylum anywhere. In an exclusive interview with ANI, Wazed said «No one has revoked her visa. She has not applied for political asylum anywhere. Those are all rumors.»

Bangladeshis gathered across Sitalkuchi in West Bengal, seeking to cross over to India, and many more are moving towards the border amid reports of attacks on minorities, people aware of the matter told ET on Friday. Bangladeshis were seen trying to cross Kharpa river near Pathantuli village of Sitalkuchi block in Coochbehar district, they said. BSF is dealing with this «emerging challenge (that) is new to BSF». «Guwahati Frontier of Border Security Force successfully addressed a significant and different kind of challenge at the India-Bangladesh border in Coochbehar district. Approximately 1,000 individuals, reportedly Bangladeshi nationals, approached the international border, seeking refuge in India,» BSF said on Friday.

Sheikh Hasina's escape to India following a coup, her arch rival Khaleda Zia, a former prime minister whose Bangladesh Nationalist Party (BNP) is the main opposition party in the country, has been released from years of house arrest. Her party is likely to win the elections which the interim government will now hold.

Nobel laureate Muhammad Yunus was sworn in as the head of Bangladesh's interim government on Thursday. This follows protests that led to the ouster of former Prime Minister Sheikh Hasina earlier this week.

BSF) in co-ordination with Border Guard Bangladesh (BGB) facilitated the return of 17 Indian workers who were stranded in Bangladesh since the turmoil started. A BSF spokesperson said that the 17 workers, who were employed by Afcons Infrastructure Pvt Ltd for the construction of 52 km four-lane road from Akhaura to Kishoreganj in Bangladesh, returned to Tripura through the Agartala-Akhaura (Bangladesh) Integrated Check Post (ICP) on Wednesday night. The official said that BSF Tripura Frontier Inspector General Patel Piyush Purusottam Das received a call regarding stranded Indian workers in Bangladesh requiring assistance.

Bangladesh borders, a top BSF official said that the condition is improving «rapidly» and «no major incidents» of violence have been reported so far. He said that at some places, build-up of locals was reported due to rumour mongering. The situation has been defused with cooperation from the Bangladesh Army, border guarding forces and local administration. India and Bangladesh share 4,096.7 km of border running through West Bengal (2,217 km), Tripura (856 km), Meghalaya (443 km), Assam (262 km) and Mizoram (318 km). On being asked about the deployment, the official said «reinforcements» were sent on the first day and additional troops were mobilised to augment BSF's presence in the area. BSF is also organising village coordination meetings to sanitise locals about the present situation in Bangladesh in the presence of prominent locals, sarpanch and pradhan to create a sense of security, the official clarified. BSF said late Wednesday night Bangladeshi nationals gathered near the borders in two sectors. «These gatherings were prompted by fears of attacks by protestors within Bangladesh. BSF personnel swiftly responded to these situations, ensuring the security of the border and the safety of the gathered Bangladeshi nationals.»