Fintech Academy

22/07/2025

The Rise of Vietnam from the Ashes of War” shows how Vietnam has dramatically transformed from a war-torn country into a rapidly developing economy. There are many valuable lessons that Bangladesh can learn from Vietnam’s progress:

Key Lessons for Bangladesh:

1. Focused Economic Reform & Growth:
Vietnam: GDP grew from $14B (1985) to $476B (2024).

Lesson: Bangladesh can focus on consistent economic reforms, trade liberalization, and industrial policy to accelerate its GDP growth.

2. Boost in Exports & Manufacturing:
Vietnam: Exports rose from $2B (1986) to $375B (2023).

High-tech exports form 43% of manufacturing exports.

Lesson: Bangladesh should diversify beyond garments—into electronics, ICT, and high-tech exports.

3. FDI Attraction Strategy:
Vietnam: FDI grew from $0.18B (1990) to $20B (2024).

Lesson: Bangladesh must improve its ease of doing business, infrastructure, and political stability to attract long-term foreign investment.

4. Human Development Improvements:
Poverty: Fell from 14% to 98%, secondary 80% (2024).

Lesson: Bangladesh needs to invest more in secondary and vocational education aligned with job market needs.

6. Electricity & Infrastructure Access:
Vietnam: Electricity access rose from 14% (1993) to ~100% (2019).

Lesson: Ensure reliable, nationwide power and infrastructure to support industry and rural development.

7. Climate & Sustainability Goals:
Vietnam’s Target: Net-zero by 2050, high-income by 2045.

Lesson: Bangladesh, also vulnerable to climate change, should adopt green growth strategies and long-term sustainability goals.

22/07/2025

29 dead and More than 100 wounded after an Air Force F-7 into Milestone School and College & Government has declared a day of national mourning 😭😭

29 people died and more than 170 were injured after a Bangladeshi air force training jet crashed into a Milestone School and College in the suburb of Uttara, causing a huge fire and thick smoke, after the aircraft slammed into a two-storey building.

04/05/2025

10/12/2024

Israel has carried out hundreds of airstrikes across Syria, including Damascus

According to Syrian media reports, Israeli warplanes have attacked various parts of the country, including the capital Damascus.

The UK-based Syrian Observatory for Human Rights (SOHR) reported at least 100 strikes by Israeli aircraft on various military targets in Syria.

Local media also reported that a research center for chemical weapons production was among the sites attacked.

Israel says it has taken steps to ensure that weapons "do not fall into the hands of extremists" after the fall of the Assad government.

Meanwhile, the United Nations Security Council is set to meet to discuss the situation in the wake of the fall of President Bashar al-Assad.

SOHR says Israeli aircraft have carried out hundreds of strikes in Syria in the past two days, including on a site in Damascus that Iranian scientists were using to develop rockets.

The attack comes as the UN chemical weapons watchdog has warned that Syria must secure its chemical weapons stockpiles.

According to the United Nations Organization for the Prohibition of Chemical Weapons (OPCW), chemical weapons are defined as chemical substances that are intentionally used to cause death or harm.

The use of chemical weapons is prohibited under international law, even when targeting military installations, because these weapons are spread out and not limited to specific targets.

It is not known how many chemical weapons Syria has or where they are located, but former President Bashar al-Assad is believed to have stockpiled such weapons.

Syria signed the OPCW Chemical Weapons Convention in 2013. A month earlier, such weapons were used in a Damascus suburb. The attack involved a nerve agent. About 1,400 people were killed in that incident.

The horrific images of the attack shocked the world. Western powers said only the government could have carried out the attack. But Assad blamed the opposition at the time.

Despite the destruction of the 1,300 tons of chemical weapons declared by the Syrian government by the OPCW and the UN, chemical weapons attacks continue in the country.

BBC analysis in 2018 confirmed that chemical weapons were used about 106 times in the Syrian civil war between 2014 and 2018.

On Monday, the OPCW said it had been in contact with Syria about the security of chemical weapons and facilities.

Also on Monday, Israel released images of its troops entering the Syrian buffer zone, where UN peacekeepers were stationed.

02/12/2024

White Paper reveals how 15 years of corruption bled the economy🥹🥹

20/11/2024

All Important News of Tuesday
19-Nov-2024

1. Chief Adviser Professor Dr. Muhammad Yunus told the Indian daily "The Hindu" that Dhaka will initiate the process to bring ousted Bangladeshi Prime Minister Sheikh Hasina back from India.

2. The High Court has ordered the formation of a high-level committee to re-evaluate and investigate all agreements made with India's Adani Group for power. The Energy and Mineral Resources Secretary has been instructed to do so.

3. Financial Adviser Salehuddin Ahmed said that although some banks are in financial crisis, No bank will be closed.

4. The Russian Defense Ministry has said that Ukraine has attacked Russia with long-range missiles supplied by the United States.

5. Three High Court judges have resigned. They are Justice Salma Masud Chowdhury, Justice Kazi Reza ul Haque and Justice AKM Zahirul Haque.

6. It has been decided to form a committee within seven working days to consider whether it is possible to convert the government Titumir College into a university. In view of this, the students have suspended their programs.

7. BNP Secretary General Mirza Fakhrul Islam Alamgir has said that if elected, the BNP will form a national government and run the country with everyone.

8. The graduation parade of the 40th BCS (Police) batch of Assistant Police Superintendents of the Bangladesh Police Academy has been postponed again. At the same time, the graduation parade of the 40th batch of cadet SIs undergoing training has also been postponed.

9. Legal Advisor Asif Nazrul said that elections will be held soon after completing the much-needed reforms. At the same time, Some amendments to the International Crimes Tribunal Act will be taken up in the Advisory Council tomorrow.

26/10/2024

Energy, power struggle with $1.75b due

According to BPC sources, Bangladesh imported 48.80 lakh tonnes of refined fuel oil and 13.14 lakh tonnes of unrefined fuel oil in the fiscal 2023-24

The country's energy and power sectors are grappling with a significant financial hurdle as dues approach $1.75 billion, mainly from imports of LNG, fuel oil, and electricity, as well as domestic gas extraction.

According to a recent report by the Energy Division, as of 7 July, the Bangladesh Petroleum Corporation (BPC) owes $230 million, while the Bangladesh Oil, Gas and Mineral Corporation (Petrobangla) owes $780 million.

Of Petrobangla's total dues, $450 million is for LNG imports. Chevron is set to receive $250 million for gas supplied from domestic fields, and the lender International Islamic Trade Finance Corporation (ITFC) will receive $80 million. TBS has obtained a copy of the Energy Division report.

Sources indicate that the BPC and Petrobangla have dues attributed to the dollar crisis. While these organisations have sufficient funds, they struggle to secure necessary foreign currency from the Bangladesh Bank and other banks, which leads to increased debts and penalties.

According to sources at the Power Division, India's Adani Group is owed $600 million for electricity supply, and there is also a $100 million outstanding bill for electricity from Tripura state of India.

Additionally, the Energy Division reports pending bills for coal imports.

On 7 July, the state minister for power, energy, and mineral resources convened a meeting with ministry officials to address the ongoing issues.

Upon Prime Minister Sheikh Hasina's return after the China visit, he intends to brief her on these matters. The state minister also plans to take action to secure the needed foreign currency to settle the outstanding dues.

On 8 July, Energy Secretary Md Nurul Alam told TBS over phone, "More gas has been supplied to the power sector this year, and LNG supply has increased due to lower prices in the spot market, which has reduced pressure on fuel oil.

"As a result, the outstanding LNG import bill has increased. This is normal, and we are taking special initiatives to address it."

Petrobangla Chairman Zanendra Nath Sarker also told TBS on 8 July, "The Bangladesh Bank regularly provides us with foreign currency, and this time, there's a bit more of accumulated dues. We expect the central bank to expedite dollar supply, which will resolve the issue promptly."

He added, "There's no cause for concern. During April, May, and June, gas supply was high due to the summer season, leading to increased cargoes and a rise in outstanding amounts.

"We hope Bangladesh Bank's timely provision of dollars in July will enable us to gradually clear these dues."

The central bank was supposed to provide dollars to Sonali Bank for import of essential products such as fuel oil and LNG. However, since mid-May, the Bangladesh Bank has halted dollar supply in this sector.

An official of Sonali Bank, which handles most government imports, said the central bank has not met the demand for dollars, citing the IMF's reserve requirements. The shortage of dollar supply started to worsen in February and effectively stopped in mid-May, leaving Sonali Bank to face fines from different foreign banks.

Bangladesh is securing a $4.7 billion loan from the IMF, in seven instalments based on meeting specific conditions. These conditions are monitored and reviewed by an IMF delegation that visited Bangladesh in late April.

The IMF delegation scrutinised Bangladesh's foreign exchange reserves, aiming for a target of $20.19 billion by the end of June. The Bangladesh Bank later informed the IMF it could not achieve that goal, so the IMF adjusted the target to $14.75 billion.

The central bank has since cut back on all foreign exchange spending to meet this new target, despite ongoing demand from government and private banks.

Originally, the Bangladesh Bank was supposed to pay $25 million daily for fuel imports. Instead, it instructed Sonali, Janata, Agrani, and Rupali Banks to collect dollars. But, these banks do not have enough foreign currency to cover the full fuel import bill, causing the outstanding amount to increase.

According to BPC sources, Bangladesh imported 48.80 lakh tonnes of refined fuel oil and 13.14 lakh tonnes of unrefined fuel oil in the fiscal 2023-24.

Petrobangla procured 21 LNG cargoes from the spot market by 3 July this year, along with an additional 21 cargoes from Qatar and Oman under state contracts during the same period.

22/10/2024

Bangladesh

10 Immediate Measures to Save Bangladesh’s Economy

1. Government Expenditure Control
2. Rebuilding Forex Reserves
3. Checking Corruption & Money Laundering
4. Inflation Control
5. Banking Sector Reform
6. Government Revenue: Addressing Emerging Concerns
7. Revisiting Disaster Management Framework
8. Performing Right to Information Framework
9. Lowering Gas and Electring Prices
10. Prioritizing Empolyment: Strategy for Disposal of Ticking Timebomb

Sorce: EIB

20/10/2024

Instability

Do have any conspiracy behind apparel sector instability? Garments orders are moving from Bangladesh to various countries including India, Pakistan

Due to political instability, government collapse and labor unrest, concern has arisen over the fact that a part of the purchase order of Bangladesh's manufactured garments has gone to the markets of various countries including neighboring India. This situation is seen as a deep crisis for the country's largest export sector.

A company that mediates between buyers of various foreign brands and garment factories in Bangladesh said that ninety percent of the purchase orders of one of its buyers went to India due to not being able to make shipments on time. Syed Mohammad Zakir, a director of the organization named 'No Exit', told the BBC that customers can return only if the situation improves.

“Many of my orders have been placed in India. A customer who used to work here placed his orders in India due to shipment and delivery issues. If we can improve the situation, the customers will come back again.”

Ashulia, Savar and Gazipur areas of Bangladesh where large garment factories are located are the most affected areas. A worker was also killed in a clash with the joint forces during a period of labor unrest and tension

20/10/2024

Women

Most of the women who get sick abroad are suffering from uterine problems

20/10/2024

Sector Bangladesh

The power sector of the country is heading towards great instability.

In the context of dismissal and demands of 24 officers and employees, agitation is going on in rural electricity societies under Bangladesh Rural Electrification Board (BREB).

In the context of dismissal and demands of 24 officers and employees, the movement is going on in rural electricity societies under Bangladesh Rural Electrification Board (BREB). In the meantime, a case has been filed against some of the agitating officers-employees and they have been arrested and remanded. Meanwhile, the employees of the North-West Power Generation Company (NWPGCL) have started a new strike and stay program. In this movement of a large number of officials and employees of two distribution companies of the electricity sector, there is a fear that the ongoing instability in the electricity sector of the country will become bigger.

Due to the shutdown of rural electricity, incidents like severe load shedding and blackouts have occurred in various districts of the country. If this situation does not end, the people concerned fear that there will be a major disruption in the electricity supply system of the country. They even think that there is a big risk of occurrence of events like grid failure due to variations in production and supply.

Two officers of Palli Vidyut Samiti were remanded in the case of destabilizing the electricity sector. They are Deputy General Manager (DGM) of Laxmipur Palli Vidyut Samiti Ali Hasan Mohammad Ariful Islam and Assistant General Manager (IT) of Brahmanbaria Palli Vidyut Samiti SK Shakeel Ahmed. Earlier, on October 18, six officials of the association were remanded for three days. Many officials are still in fear of arrest.

In such a situation yesterday, the agitating workers held a press conference in Dhaka Reporters Unity (DRU) to protest against the arrest, lawsuit, harassment and dismissal of rural electricity workers. At this time four point demands were made on their behalf. The demands are to withdraw the case and return the jobs of 24 people and reinstate the two officers who were released on stand release to restore stability in the rural electricity sector, reform the rural electricity society and board to form a single organization and regularize contractual employees against permanent posts to ensure accountability to the customer. To do, form an independent commission with student coordinators to regulate rural electricity till reforms and bring to justice the officials accused of corruption in BREB.

Abdullah Al Hadi, DGM of Narsingdi Palli Vidyut Samity-1, Tamjidul Islam, Junior Engineer of Dhaka Pobis-1, Abdullah Al Mamun, AGM of Chittagong Pobis-1, Shariful Islam Bhuia, Junior Engineer of Narsingdi Pobis-2 were present in the press conference. , Gazipur POBIS-1 Wiring Inspector Sheikh Rahmatullah Nazir and many others. In response to a question from journalists, the officials said that today (Sunday) they are scheduled to have a meeting with the Special Assistant to the Chief Adviser. Hopefully, there will be a compromise. He assured us that our legitimate demands would be resolved. But even after canceling the program in the meantime, taking disciplinary action and harassment without giving any opportunity to investigate, show cause or defend oneself is saddening. Even now many of our officers are unable to stay at the station due to fear of arrest. By doing this, there is a risk of customer suffering again. According to some of the country's energy experts, the movement of Palli Vidyut Samiti is logical. Also their demands cannot be met immediately but should be resolved at a logical level. Energy expert and BUET professor Ijaz Hossain told Barta, "I support the rural electricity movement." They are not given the same status as they work at the field level. Societies are functioning like distribution companies. So I don't see any harm if they form a company like other distribution companies. The main objective of setting up BREB was to ensure electrification at the rural level. Now 100% electrification is done. REB now has to work in a different way.'

The Consumer Association of Bangladesh (CAB) believes that the country's electricity system is at risk due to the dispute between Bangladesh Rural Electrification Board (BREB) and Palli Vidyut Samiti. A committee has also been formed by CAB to resolve this dispute. In a statement sent to the media on behalf of the organization, it was informed that the power system of the country is at risk due to the dispute between BREB and Palli Vidyut Samiti. On October 17, 60 of the 80 Palli Vidyut Samiti stopped electricity supply. A large number of customers suffered extreme disaster. CAB has already set up a National Committee for Redressal of Consumer Grievances.

Professor M Shamsul Alam is the president of this committee. He told Vanik Barta, "The committee will look into what is the reason for the dissatisfaction of BREB and rural electricity and what is the satisfactory solution." Only the committee has been formed. There is a kind of threat in the electricity supply system in this movement of rural electricity. At the end of the day, consumers will suffer due to their conflict. As a result, this committee will work on what kind of assistance can be provided from the consumer. Even in this crisis in BREB-rural electricity, the role of electricity department is seen to be silent.

In the movement of rural electricity, the officers and employees of the production company NWPGC have started a new movement. They have held a strike and sit-in program since yesterday morning demanding refund of dues, introduction of overtime and two-day weekly holiday on Friday and Saturday (three points). However, according to the previous decision of the agitators, the technical officers and employees involved in the power generation activities did not participate in the program. At least 500 officials-employees of NWPGCL's Sirajganj 675 MW power plant, Bheramara 410 MW, Rupsa 800 MW and Payra 1 thousand 320 coal-based power plants of the country joined the program to realize the three-point demand.

Some officials of the protestors said on condition of anonymity that if the authorities do not take any action to fulfill their demands, they will go for more strict program. There is also a danger of creating deadlock in the important power plants of the country's production sector.

No assurance has been given by the North-West Power Generation Company regarding the demands of the agitating officers and employees. However, senior officials of the organization said that the matter is being viewed with utmost importance. At the same time, they also said that work is going on to ensure that the power plants are operational all the time.

When asked about the matter, Managing Director (MD) of NWPGCL, Engineer Kazi Absar Uddin Ahmed Banik told Barta, "We have taken measures to ensure that there is no problem in the power plants due to the agitation." The agitators have made several demands, but it is not enough for me alone as the top executive of NWPGCL to fulfill these demands. It has to be decided by the board. Earlier a committee has been formed to decide on these issues, they will report within this week. After that, I will talk to the board chairman on an urgent basis and ask to know about raising it to the board. It requires patience. It is not possible to solve it overnight.

When asked whether the production activities of the power plants will be disrupted due to the ongoing unrest in the country's Rural Electricity Association, he further said, "No situation has arisen to disrupt the power generation and transmission activities." However, if you do not fulfill your responsibilities, we are seriously considering violating the employment rules. The chief engineer of each power plant is being contacted to ensure that the power supply is not interrupted. However, so that the situation remains normal, the issue is being given utmost importance.

When asked about the instability and the overall issue of the country's electricity sector, it was not possible to contact the secretary of the electricity department, Farzana Mumtaz.

21/09/2024

Extreme Inflation is responsible for increasing daily necessaries.

Bangladesh's inflation rate is not only higher than Pakistan's but also highest in south Asia. According to Bangladesh Bureau of Statistics (BBS) data, The inflation rate in the country was 11.66 percent in July. In August, this rate decreased slightly and it is still in double digits. Inflation rate in the country last month was 10.49 percent.

According to data from central banks of seven countries, the lowest inflation in this period is now in Sri Lanka. The inflation rate in Sri Lanka was only 0.5 percent in August. Maldives has the second lowest inflation of 1.4 percent. Inflation is 2.04 percent in Bhutan, 3.57 percent in Nepal, 3.65 percent in India and 9.64 percent in Pakistan. Meanwhile, inflation data for Maldives, Nepal and Bhutan are updated to July.