The financial sector in Bangladesh is grappling with a significant issue stemming from the unchecked proliferation of “sister concerns” within large local business groups.
The media has been abuzz with concerns about the rampant abuse of Bangladesh’s financial sector for more than a decade.
Bangladesh has been experiencing a severe forex crisis for the past two years. Our two main sources of foreign currency are exports and remittances. While we have devoted significant attention to increasing exports, we have largely neglected the potential of remittances. In the past fiscal year, exports have been in the range of $47 billion.
Bangladesh Bank Governor Ahsan H Mansur has reassured that the central bank will provide liquidity support to assist struggling banks, which is a positive step.
The financial sector in Bangladesh is grappling with a significant issue stemming from the unchecked proliferation of “sister concerns” within large local business groups.
The media has been abuzz with concerns about the rampant abuse of Bangladesh’s financial sector for more than a decade.
Bangladesh has been experiencing a severe forex crisis for the past two years. Our two main sources of foreign currency are exports and remittances. While we have devoted significant attention to increasing exports, we have largely neglected the potential of remittances. In the past fiscal year, exports have been in the range of $47 billion.
Bangladesh Bank Governor Ahsan H Mansur has reassured that the central bank will provide liquidity support to assist struggling banks, which is a positive step.
