The previous governor of Bangladesh Financial institution. Saleh Uddin Ahmed stated, Bangladesh Financial institution can’t take a call on its own now. Businessmen name for selections, politicians name. Made up our minds within the morning, modified within the afternoon. The location is such that Bangladesh Financial institution has now change into a cooperative society.
He stated these items in a spherical desk dialogue arranged on fresh problems with the banking sector at a lodge within the capital on Thursday (Might 23).
Dr. Saleh Uddin stated, Bangladesh Financial institution isn’t in a position to come to a decision on its own. As a result of they may be able to make selections themselves, they’re converting their selections often lately. We additionally persevered, didn’t trade such a lot of selections, didn’t give such a lot of circulars. Now if any individual defaults considered one of his establishments may not get the mortgage, however the others will – I do not perceive why. After spending 12 billion bucks from the reserve, now arms at the head. We need to repair our coverage first, take tricky selections.
Learn extra
He stated that defaulted loans have change into a industry fashion. Because of loss of excellent governance, the central financial institution isn’t in a position to regulate it because of political-commercial causes. By no means been in such unhealthy situation earlier than. This example will have to be suppressed with strict arms, banking fee will have to be shaped to deliver excellent governance. Differently, regardless of how a lot the central financial institution needs to strengthen the placement with cashless society, contractionary financial coverage, crawling peg, it isn’t conceivable.
The previous governor stated that the regulatory government will have to take strict measures. Bangladesh Financial institution now makes some regulations within the morning, and adjustments it once more within the afternoon after being attentive to any individual else. Every so often those selections are taken through sitting with businessmen and politicians. Bangladesh Financial institution has now change into a cooperative society.
Learn extra
He additionally stated that the legislation has given autonomy to Bangladesh Financial institution, however now its lack is being spotted. It will have to be accomplished. Now the rate of interest, buck charge will have to have larger way back. By way of now not doing that, the power on other people to do higher is expanding. Contractionary financial coverage on my own, elevating the buck or elevating rates of interest is not going to result in expansion. For expansion, credit score will have to be larger in small, medium industries, agriculture.
Former Making plans Minister MA Mannan, former Chairman of Affiliation of Bankers Bangladesh (ABB) Nurul Amin, CPD Honorary Fellow Professor Mustafizur Rahman, CPD Government Director Dr. Fahmida Khatun, Member of Parliament Barrister Anisul Islam Mahmud and others have been provide.
