B Mirror Report:  Bangladesh Bank (BB) Governor Dr. Ahsan H. Mansur today emphasized that the country’s graduation from Least Developed Country (LDC) status should not be treated as a mere timeline, but as a driver for enhancing economic efficiency and global competitiveness.

Speaking as the chief guest at a roundtable on “Implications of LDC Graduation for the Banking Industry: Bangladesh Perspective” at a city hotel, Dr. Mansur said, “The policies required for graduation are essentially aligned with a robust national development strategy, requiring improvements in logistics, infrastructure, and human capital.”

Organized by ICC Bangladesh in association with Bengal Commercial Bank PLC, City Bank, Mutual Trust Bank PLC, and Shahjalal Islami Bank PLC, the event highlighted the challenges and opportunities of the post-LDC era.

The BB Governor urged stakeholders to prioritize preparation over fixed timelines, noting that whether graduation occurs in 2026 or later is less important than readiness. He stressed that Bangladesh should aspire to the standards of developing countries like Thailand, Malaysia, and India, rather than comparing itself to struggling nations.

Dr. Mansur underlined that macroeconomic stability, including exchange rate steadiness and foreign reserves, is crucial for sustainable development. He set targets of at least $35 billion in reserves by June and $40 billion by the following June, noting that the BB has injected approximately $4 billion recently to maintain exchange rate stability and liquidity.

He also emphasized the importance of breaking inflation expectations, improving port systems, road networks, ICT, education, and reducing power and labor costs to make the economy competitive.

ICC Bangladesh President Mahbubur Rahman presided over the event, while its Banking Commission Chairman Muhammad A. (Rumee) Ali delivered the welcome speech. Professor Shah Md. Ahsan Habib of BIBM gave the keynote address.

Speakers including Bangladesh Association of Banks (BAB) Chairman Abdul Hai Sarker, ICC Vice President A K Azad, and CEOs from leading banks highlighted the need for domestic banks to support infrastructure development and priority sectors as concessional external financing declines post-graduation.

Mahbubur Rahman noted that post-LDC Bangladesh will face higher compliance expectations, increased trade and export finance risks, and will need to align banking portfolios with ESG standards, climate resilience, and sustainable finance.

Executives from Mutual Trust Bank, Prime Bank, Plummy Fashions, Picard Bangladesh, Transcom Group, and Eskayef Pharmaceuticals also participated, sharing insights on how the financial sector can prepare for the emerging middle-income economy status.