The manager director of the non-public analysis group Heart for Coverage Discussion (CPD). Fahmida Khatun mentioned, ‘Just right governance, transparency and responsibility within the banking sector have deteriorated greatly. Oligarchs were created within the banking sector to give protection to their very own pursuits. This development is growing mistrust amongst depositors.
He mentioned those whilst presenting the keynote on the discussion arranged through CPD at the banking sector on the Lakeshore Lodge in Gulshan within the capital on Thursday (Would possibly 23).
Honorary Fellow of CPD Dr. Below the supervision of Mustafizur Rahman, former making plans minister Abdul Mannan, Anisul Islam Mahmud, former governor of Bangladesh Financial institution Dr. Saleh Uddin Ahmed, former banker Mohammad Nurul Amin, senior journalist Syed Ishtiaq Reza and plenty of others.
Within the authentic article, Fahmida Khatun mentioned that the distressed debt on the finish of 2022 was once Tk 3 lakh 78 thousand crores. Upload to this the 1 lakh 77 thousand crore rupees caught within the court docket case, the dangerous debt is much more.
He mentioned that the rustic’s monetary sector relies on banks. The position of this sector is essentially the most within the construction of the rustic. However fragility has seemed within the banking sector. There was a lack of excellent governance and responsibility. Mortgage approval, rescheduling, foreclosures are all being carried out in their very own method. Central banks don’t seem to be performing independently beneath exterior drive or through their very own will. This example must be stepped forward.
Fahmida Khatun mentioned, ‘When mistaken data is revealed, the coverage is mistaken. Actual time data is equipped on the internet sites of central banks of advanced international locations. On the other hand, with out confirming it right here, the door to gathering data has been closed.’
The previous governor of Bangladesh Financial institution. Saleh Uddin Ahmed mentioned that the regulate government will have to take strict measures. Bangladesh Financial institution now makes one rule within the morning and adjustments it once more within the afternoon after paying attention to any individual else. Bangladesh Financial institution has been given autonomy in legislation, it needs to be completed.
He additionally mentioned, ‘Rate of interest and greenback charge must were larger way back. Via now not doing that, the drive on other people to do higher is expanding. Contractionary financial coverage on my own, elevating the greenback or elevating rates of interest won’t result in expansion. Credit score must be larger to small, medium industries and agriculture for expansion.’
