The crash involved a Sonar Bangla Express train travelling from Chittagong to Dhaka, and caused five coaches to derail, Dhaka Tribune reported.
Train services between the two cities have been suspended while officials clear away the wreckage.
Early reports suggest that a signal failure may have been the cause of the crash. An investigation into the incident is ongoing.
According to local reports, the incident occurred around 7:30 pm, and train movement on the Dhaka-Chittagong route was halted immediately after the accident.
Hasanpur station master's whereabouts have not been known since the incident. Nangalkot Railway Station Master Jamal Hossain confirmed the collision and stated that a rescue train has been dispatched from Laksam in response to the report. Further information about the incident will be shared later, he added.