Humayun Kabir from Bengal Group awarded CIP

Anisur Rahman, Managing Director of Basic Bank, has had his contract extended for another year amidst discussions of merging the state-owned bank with City Bank. The extension was approved by the Financial Institutions Department of the Ministry of Finance.

Arun Kumar Chowdhury has been appointed as the Managing Director of Karmasangsthan Bank, effective April 9, as per the Financial Institutions Division, Ministry of Finance. Previously, he served as Deputy Managing Director at Bangladesh House Building Finance Corporation (BHBFC).

The US Department of Agriculture (USDA) predicts that rice prices in Bangladesh won't decrease in the marketing year (MY) 2024-25 due to high production costs. Labor wages increased by 30-40% during the Boro paddy planting season compared to the previous year. Coarse grain prices rose by 6.25% year-on-year, reaching Tk 50 to Tk 52 per kilogramme in Dhaka.

BRAC Bank recently promoted three senior leaders to Senior Executive Vice President (SEVP) positions in its Distribution Network and Finance Divisions, effective from April 1, 2024. A.K.M. Tareq, previously Senior Zonal Head - North, and Md. Taher Hasan Al Mamun, previously Senior Zonal Head - South, have been promoted within the Distribution Network. Mohammad Abdul Ohab Miah FCA, who served as Financial Controller, has also been elevated.

Following Eid and Pahela Baisakh, Khatunganj, the main wholesale market, has resumed operations. Sugar prices have declined by Tk 120 per maund within days, now trading at Tk 4,780 to Tk 4,800 per maund. Reduced transactions post-holidays and suspension of goods transportation have led to the drop.

The price of potatoes in Hili, Dinajpur, has surged by Tk 10 per kg within a week due to low supply and increased wholesale prices. Katinal potatoes now sell at Tk 45/kg, up from Tk 35 before Eid, while small varieties are priced at Tk 50/kg, previously Tk 40. The closure of import-export during Eid and New Year has impacted local markets, with Indian prices rising.