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US State Department Recommends Eight Reforms for Bangladesh’s Fiscal Sector

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US State Department Recommends Eight Reforms for Bangladesh’s Fiscal Sector

The US State Department has put forward eight recommendations to enhance transparency and bring Bangladesh’s financial sector in line with international standards. The suggestions were outlined in its recently published Fiscal Transparency Report.

According to the report, the interim government has retained the previous administration’s budget framework while introducing some reforms to increase transparency. Although budget proposals and approved documents were made public online, the year-end financial statements were not released on time. While debt, revenue, expenditure, and resource mobilization data were included in the budget, key gaps remained, particularly the absence of separate reporting on executive branch spending.

The report also raised concerns over the independence of Bangladesh’s supreme audit institution, as it lacked the ability to conduct full audits. Information on public procurement was also limited, although transparency was maintained in contracts and licensing related to natural resources.

The State Department’s eight recommendations include: publishing year-end financial statements on time, aligning budget documents with international standards, separately reporting executive expenditures, presenting a complete picture of revenues and expenditures, ensuring the independence of the supreme audit institution, releasing full audit reports with proposals and details, publishing contracts related to natural resource extraction, and making public procurement information widely accessible.

The report noted that the interim government has already halted direct procurement practices and made natural resource extraction activities more transparent.

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Economy

Giant 32-kg Poa Fish Caught Near St Martin’s; Fisherman Demands Tk 600,000

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Giant 32-kg Poa Fish Caught Near St Martin’s; Fisherman Demands Tk 600,000

A 32-kg giant poa fish was caught in the net of fisherman Abdul Goni near Saint Martin’s Island in Teknaf on Saturday morning (22 November). The fish was caught around 10:30am and is now being negotiated for sale, with Goni demanding between Tk 500,000 and Tk 600,000.

Goni, a resident of Ward-5 in Saint Martin’s Union, said he was out fishing as usual when the large poa fish became trapped in his net. The catch has drawn crowds of locals eager to see the rare specimen, though it has not yet been sold.

He added that large poa fish have been appearing in his nets for several years, enabling him to become financially independent. Locals now call him “Poa Goni” for his frequent big catches.

According to Teknaf Upazila Fisheries Officer Md Delowar Hossain, the fish contains a valuable organ called “padna” or “fola,” which is dried and exported as raw material for pharmaceutical use. This makes poa fish significantly more valuable than regular fish.

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Economy

Late-Night Fire at Grameen Bank in Magura; Quick Response Prevents Major Damage

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Late-Night Fire at Grameen Bank in Magura; Quick Response Prevents Major Damage

A fire broke out at the Grameen Bank branch in Mohammadpur upazila of Magura in the early hours of Monday, around 3:30am. Quick action by the police, the fire service and local residents brought the blaze under control, preventing major damage to the institution.

According to Billal Hossain Mridha, sub-officer at the Mohammadpur Fire Service Station, the fire originated at the bank located beside Aminur Rahman Degree College. Several essential documents and pieces of furniture were damaged before firefighters managed to douse the flames. The cause of the fire has not yet been confirmed, and an investigation is underway.

Mohammadpur Police Station Officer-in-Charge Md Abdur Rahman said officers reached the scene immediately upon receiving the alert. With the joint effort of police and firefighters, the fire was brought under control. He added that investigators are working to determine whether the fire was accidental or deliberate. The extent of the damage will be assessed after the investigation.

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Economy

Wave of Arson Hits Grameen Bank Branches as Attacks Spread to Kishoreganj

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Wave of Arson Hits Grameen Bank Branches as Attacks Spread to Kishoreganj

A series of arson attacks targeting Grameen Bank branches has expanded from Gazipur and Bogura to Kishoreganj, where masked assailants set fire to the institution’s Jashodal branch on Sunday night. CCTV and mobile footage showed a man shouting “Joy Bangla” before igniting the ground floor of the building. Locals quickly extinguished the flames, preventing major losses.

Earlier the same night in Pakundia’s Sriramdi area, a large litchi tree was felled across the road, blocking traffic on the Kishoreganj–Pakundia route. Witnesses alleged that activists of the banned Awami League arrived on motorcycles and cut the tree while chanting political slogans. Police later cleared the road and restored movement.

At dawn on Monday, a deserted ambulance parked in front of the Kishoreganj Civil Surgeon’s Office was set ablaze, with similar slogans heard during the attack. Fire service officials reported that much of the vehicle had already burned before they arrived.

Police have confirmed all three incidents in Kishoreganj.

The attacks follow previous arson attempts on Grameen Bank branches in Gazipur’s Maona–Sripur area and Bogura’s Sherpur, where petrol bombs damaged signage and important documents. Authorities say security measures around bank branches in affected districts have now been tightened.

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