The IBFB welcomed Bangladesh Bank’s circular, which introduced relief measures for businesses facing financial stress. Under the circular, companies seeking to reschedule their loans are required to submit applications by 31st December 2025.
Manufacturing News
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Factory owners warned that if current conditions persist, nearly half of the country’s textile manufacturers could shut down by 2026, potentially cutting overall manufacturing capacity by around 50%.
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Susheel Kaul, managing director and president of the textiles and apparel business, will continue as managing director and will focus on key strategic initiatives.
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Managing Director Moinul Islam Mukul formally informed the authorities of the closure through a written application submitted to the Deputy Director General of the Department of Inspection for Factories and Establishments.
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The consultation focused on discussions with prospective master developers for three proposed Greenfield PM MITRA Parks in Lucknow (Uttar Pradesh), Kalaburagi (Karnataka) and Navsari (Gujarat).
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Ahamed has over two decades of experience in the textile and apparel industry, with his experience stretching from yarn to fabric manufacturing as well as raw material development and global sourcing.
