As foreigners regain trust in the banking system, Bangladesh is on course to set a record in terms of remittances collected through legal channels this year, according to Bangladesh Bank Governor Dr. Ahsan H. Mansur.

The governor made this statement on Wednesday, February 12, in response to recent media reports that claimed an independent director of Islami Bank Bangladesh PLC had committed loan irregularities.

Following an investigation, Bangladesh Bank has not discovered any proof to back up the accusations made against Abdul Jalil, the bank’s independent director.

Dr. Mansur said, “Publishing news in newspapers is not an investigation that proves someone guilty. Sometimes, misleading reports are prepared without proper verification and incorrect information.”

He also commented that vested interests opposing banking sector reforms are running such propaganda.

Stressing the positive trend in the banking sector, especially in collecting remittances, the governor said, “We have confidence in the current board of Islami Bank.” The bank has achieved significant success in areas such as deposit growth, investment and remittance collection.’

Dr. Mansur expressed optimism that remittance inflows through government channels will reach new heights this year. He said, ‘Expatriates’ trust in the banking system has been re-established, which will be reflected in the record-breaking figures of remittance collection.

The governor gave the assurance that Bangladesh Bank is developing policies to safeguard depositors’ interests with regard to small depositors of certain troubled banks. “There’s no reason to be concerned about customer deposits in any scheduled bank,” he stated. Although a stable recovery will require patience, we are striving for a long-term solution.