“Depositors kept their hard-earned money in banks so efforts will continue in order to ensure that deposits are unaffected,” he added.
The adviser made these remarks today during a press conference at the Secretariat in Dhaka
Having a well-balanced and accountable board is paramount, especially as a bank holds and manages the funds of depositors.
The banking industry as a business is inherently risky.
It is unfortunate that the previous government fell short of its commitments to strengthen the banking sector.
The agency said the banking industry's weaknesses, including a lack of liquidity, thin capital buffers and ailing asset quality, have been exacerbated while the departure of senior central bank officials could delay ongoing structural reforms.
Banking rules were made, but none enforced or followed those, he says
Despite repeated warnings, no effective measures have been taken to rectify the poor governance.
The executive director of PRI Bangladesh says at ERF event
Misgovernance, corruption, nepotism and subsequent bad debts keep plaguing our banking landscape.
Islami Bank, Social Islami Bank and First Security Islami Bank lent about Tk 9,500 crore under suspicious circumstances, as reported by different media. Of the sum, Tk 7,246 crore has been taken from Islami Bank alone.
Why is the amount of default loans increasing day by day?
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.
Around 70 per cent of default loans in the banking sector is concentrated in nine sectors of the economy as many borrowers are finding it difficult to pay instalments for the dragging economic slowdown while willful defaulters are also a major factor.
People do not lack strength; they lack will, the French poet and novelist Victor Hugo once said. The words perfectly describe the government’s attitude thus far towards fixing the banking sector.
The financial health of the banking sector is weakening due to rising non-performing loans, a lack of corporate governance and increasing capital shortfall, according to an Asian Development Bank report released yesterday.
Bangladesh's banking sector faces a number of major challenges including rising nonperforming loans, credit concentrations, poor
The new finance minister, Mustafa Kamal, has vowed to address the longstanding concerns regarding increasing non-performing loans in banks. Khondkar Ibrahim Khaled, a noted banker and former deputy governor of Bangladesh Bank, talks to The Daily Star's Nazmul Ahasan about the issue.
The finance minister has a track record of revealing the truth from time to time, no matter how unpalatable the truth may be. We commend his remarks about a certain Chattogram-based business conglomerate having grown all too powerful in the financial sector.
