“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
The finance minister recently told the chairpersons and directors of state-owned banks that those who highlight the sorry state of the banking sector—the culture of loan default, the flouting of set banking norms, etc—are all uninformed. Such a remark coming from him is disappointing, given the fragile state of the banking sector as a whole.
The Centre for Policy Dialogue yesterday came down hard on the finance ministry for the host of moves it made earlier this month to
The deteriorating health of banking sector has become a major concern for the economy, the World Bank said yesterday.
Transparency International Bangladesh yesterday termed the Bangladesh Association of Banks' proposal of formulating the Bank Reporting Act as illegal and expressed deep concern over it.
Parliament yesterday passed the Banking Companies (Amendment) Act 2017 amid criticism from various quarters that the revised law will help a single family tighten its hold on a private bank.
Finance Minister AMA Muhith tells parliament that the government has given subsidy to state-run banks in a bid to avoid any possible disaster in banking sector. Amid criticism that there is no good governance in banking sectors, Muhith says his government is working very seriously for ensuring good governance in banking sector and money market.
Default loans have dogged the country's banking sector for nearly three decades now, despite various reform efforts -- an alarming pattern that has damaged the economy and deprived honest borrowers of funds.
Political unrest, vulnerability in the banking sector and low investment stand in the way of higher GDP growth and economic development, the World Bank said.
