The central bank governor made this remark while inaugurating the Golden Jubilee Celebration of Bangladesh Institute of Bank Management (BIBM) in the city.
“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 government’s overdependence on the banking sector to finance its budget deficit will affect the financial sector as well as hurt private sector investment and employment generation, according to experts.
The FY 2024-25 budget falls short of assessing the depth of the economically challenging time.
Nine banks, including four state-run ones, were in the “red zone”, meaning their financial health was fragile,
How long till Farmers Bank pays back what’s due?
Appellate Division’s observation on defaulted loans is right on the mark
It seems there exists a nexus among the policymakers, bank directors, and defaulters which facilitates the process of swindling depositors’ money.
While the government’s latest monetary policy for the first half of fiscal year 2023-24 shows an attempt to be rational for the market, it lacks vigour to solve inflation and the dollar crisis.
In the ever-evolving realm of global finance, the transition towards cashless societies has emerged as a transformative force, unlocking a myriad of benefits for nations embracing digital currencies.
Bangladesh’s banking sector now requires comprehensive reforms for the financial sector to become strong enough to augment a transition to an upper middle-income country by 2031, said Edimon Ginting, country director of Asian Development Bank (ADB), yesterday.
On edge -- is what best describes the sensation surrounding the banking sector. But the Bangladesh Bank higher-ups were warned as early as October 2021 that such a situation might transpire. Yet, no definitive action was taken then.
