Govt should restore discipline in banking sector: FBCCI president

The government should restore discipline in the banking sector as some banks made abnormal profits by selling US dollars cashing in on the exchange rate volatility, FBCCI President Md Jashim Uddin said today.

"Some banks even have made Tk 200 crore to Tk 300 crore within a short span of time as they sold dollars at an abnormal rate by taking advantage of the situation," he said.

The chief of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) was speaking at a dialogue organised by the Economic Reporters Forum (ERF) at the latter's office in Dhaka.

He also urged the authorities not to withdraw the 9 per cent interest rate on loans now as the investment in the industrial sector will be expensive.

"The trouble facing the industry and the economy may deepen if the electricity and gas crisis can't be overcome soon," Jashim Uddin said.

ERF Vice-president M Shafiqul Alam and General Secretary S M Rashidul Islam were also present at the event.