The National Board of Revenue issued a notification hiking value-added tax (VAT) and supplementary duty (SD) on nearly 100 goods and services, despite concerns that it could stoke inflation further at a time when reining it in has proved the greatest challenge for the interim government. New rates of VAT and SD, revenue collection channels that target consumption, will be applicable to mobile phone usage, internet, tissue paper, grapes, apples, melons, readymade clothes, eating out, sweets, LP gas, spectacles, and hotel stays.

Consumers will be required to pay up to 15 percent VAT on most of these items, up from as low as 5 percent. The NBR also increased the rate of VAT at the point of sale for medicines to 7.5 percent from 5 percent. VAT on printing, cinema tickets, repair and servicing, and cleaning services will rise to 15 percent from 10 percent. The SD on mobile phone use will rise to 23 percent from 20 percent.

The managing directors of six banks, including four that came under the control of S Alam Group during the Awami League regime, were sent on leave ahead of Asian Development Bank-funded forensic audits of the institutions. Syed Waseque Md Ali of First Security Islami Bank, was the first to be sent on leave for three months on Saturday (Dec. 4). The MDs of Exim Bank, Global Islami Bank, Social Islami Bank, ICB Islamic Bank, and Union Bank were also sent on leave a day later. First Security, Global Islami, Social Islami and Union were previously controlled by the S Alam Group.

According to central bank officials, a foreign audit firm is initiating forensic audits of the six banks with funding from the ADB. To ensure the audits are conducted transparently, it prefers that none of the current managing directors remain in office during the process, they said. For this reason, the central bank has verbally instructed them to place them on mandatory leave, the officials said.

The majority of the 267 candidates excluded from the 43rd Bangladesh Civil Service (BCS) recruitment process after being gazetted initially, are expected to get back their appointments, according to Senior Secretary of the Ministry of Public Administration Md Mokhlesur Rahman. "The investigation (into why they were excluded) has been completed, and we are working to finalise the process promptly," Dr Mokhlesur said following a meeting with the affected candidates on Thursday (Jan. 9).

Earlier the Public Service Commission (PSC) had recommended 2,163 candidates for recruitment to various cadres under the 43rd BCS. Initially 99 of them were excluded based on intelligence reports, and thereafter a further 168 were excluded. Over 40 percent of the second excluded batch (71 out of 168) belonged to religious minorities, raising eyebrows. Of the total, 40 were excluded for being absent from medical examinations and 227 were flagged for adverse remarks. The senior secretary expressed his optimism about the reinstatement of most of the excluded candidates.

A draft ordinance published on the website of the Financial Institutions Division under the Finance Ministry indicates the government's stake in Grameen Bank is set to be decreased from 25 percent to 5 percent. The ordinance also proposes other amendments to the Grameen Bank Act of 2013, including a reduction in the number of government-appointed directors on the bank's board from three to one. Additionally, it eliminates the government's authority to appoint the chairman of the bank. Instead, a 12-member board, which includes representatives of the microfinance institution's borrowers, would elect the chairman independently.

The changes aim to strengthen Grameen Bank's autonomy by limiting government interference, thereby increasing control for the bank's microfinance recipients over its governance. Grameen Bank was founded by Nobel Laureate and currently the chief adviser to the interim government, Professor Muhammad Yunus, who served as the bank's managing director till the Awami League government forced his resignation in 2011, citing his age as the reason.