The central bank’s governor, Dr. Ahsan H. Mansur, has declared that Tk 70,000 crore is required to address the banking sector issue and that this sum cannot be obtained all at once. He suggested allocating Tk 35,000 crore from the budget for the next fiscal year. In order to recover past-due loans, he also brought forth a proposal to modify the Financial Loan Recovery Act.
He made these remarks on Thursday (4 December) at a meeting jointly organized by BIDA and UNDP in Agargaon, Dhaka, aimed at creating a favorable investment environment in the country.
The Governor said, “Institutions are national assets. We cannot close them for the sake of an individual. These institutions provide employment to people. However, legal action will be taken against individuals through proper procedures. The law will be enforced, and no one will be spared. This has been our policy, and so far, no institution has been closed.”
Noting that the country has many “Lilliput” banks, Dr. Ahsan H. Mansur added, “However, there is no bank of international standard. This will not be possible even in the next 20 years. But with effort, BRAC Bank may possibly reach that level in 10–15 years.”
