Nation this week
Photo: Collected
The High Court upheld the interim government's decision to merge five Shariah-based banks into a new entity, the Sammilito Islami Bank, summarily rejecting a writ petition that challenged the legality of the move. The bench of Justice Fahmida Quader and Justice Md Ashif Hasan passed the order after hearing arguments on the petition filed by Shahidul Islam, a general investor in the stock market. The petition was rejected on the grounds that the Bank Regulation Ordinance, 2025 - under which the merger took place - contains no provision to safeguard shareholders' interests in the event of a merger.
Meanwhile Bangladesh Bank finalised a draft special scheme to initially refund Tk 2 lakh to the depositors of the five merged banks. The scheme was finalised at a crucial meeting chaired by Dr. Ahsan H. Mansur, Governor of Bangladesh Bank, with Mohammad Ayub Mia, chairman of the new Sammilito Islami Bank PLC, in attendance, as well as four deputy governors, and the administrators of the five troubled banks.
The Appellate Division upheld a decision of the High Court that Bagerhat district will retain its four parliamentary seats, while Gazipur will continue with five. The seven-member full bench, headed by Chief Justice Dr Syed Refaat Ahmed, passed the order. Earlier on November 10, a High Court (HC) ruling restored Bagerhat's four seats and Gazipur's five, rejecting a decision by the Election Commission (EC) to reduce Bagerhat's seats from four to three, in favour of an extra seat in Gazipur.
Shortly after the order, the EC and Md Salah Uddin Sarkar, a candidate from Gazipur-6, filed separate petitions with the Appellate Division seeking a stay order on the ruling. Attorney General Md Asaduzzaman represented the EC, while senior lawyer M Badruddoza Badal appeared for Jabed Ahmed while senior lawyer Mustafizur Rahman Khan represented Salah Uddin Sarkar. Bagerhat Press Club, Bagerhat district BNP, Jamaat-e-Islami, and other groups had submitted petitions challenging the legality of the EC gazette.
The National Citizen Party (NCP) formed an alliance with Amar Bangladesh Party (AB Party) and Bangladesh Rastro Sangskar Andolan ahead of the 13th National Parliamentary Election slated for February 2026. "The platform [alliance] has been named Gonotantrik Songskar Jote," NCP Convener Nahid Islam, who is the spokesperson of the alliance, said at a press conference held at at Dhaka Reporters Unity.
The NCP leader also mentioned that they had earlier tried to reach an understanding with the older political parties to carry out state reforms, but that was a "mistake". AB Party Chairman Mojibur Rahman Monju said the alliance aims to coordinate as a platform for political reforms. "Initially, the alliance has been formed with three parties. It is a political alliance. As the election approaches, the forces of the July uprising will contest under one symbol," Nahid further said, "Any party aligned with the spirit of the July uprising or interested in state reform is welcome to join [the alliance]."
Bangladesh's economy is projected to grow around 5 percent in 2026, supported by easing inflation and strong remittance inflows that are expected to help households despite structural challenges, according to the Mastercard Economics Institute (MEI) 2026 Outlook released this week. Inflation stood at 8.29 percent in November, up slightly from 8.17 percent in October but lower than November of the previous year, which recorded 11.38 percent, according to data from the Bangladesh Bureau of Statistics quoted in the report.
Remittance inflows rose 31.34 percent year-on-year to $2.88 billion in November, the highest in six months. The MEI report said South Asia continues to show solid momentum. India is forecast to expand 6.6 percent, driven by domestic demand, monetary easing, and growth in digital and services sectors. Sri Lanka is expected to grow 3.7 percent as private consumption, rising tourism receipts, and accommodative monetary policy sustain its recovery. Bangladesh's 5 percent projection places it between these two regional peers.


















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