The banking sector has been the worst hit in Bangladesh, Bangladesh Bank Governor Ahsan H Mansoor said, saying the country’s financial sector is the weakest, even compared to Pakistan. This weakness of the financial sector has affected the country’s economy. He has to be followed. The situation is such that nothing forward-looking can be done so far; Rather, we have to do corrective work for the past.

There will be no economic recession in Bangladesh. But he also commented that it was inevitable that the growth rate in the country has decreased.

Ahsan H Mansoor also said, have we become Sri Lanka, of course not; Our growth has not been negative; The economy didn’t collapse either. It could have, but it didn’t. There must be some sense that Bangladesh has avoided recession. There should be praise for that.

Ahsan H Mansoor said these words at the third Bangladesh Economic Conference-2024 organized at Pan Pacific Sonargaon in the capital on Monday (November 11). Daily Banik Barta organized the conference titled ‘Disparity, financial crime and the cure of the economy of Bangladesh’.

The central bank is now trying to achieve macroeconomic stability. Ahsan H. Mansoor commented that the growth rate in the country will decrease somewhat in this reality. He also said that the central bank has held discussions with banks and traders’ organizations to achieve stability. The boards of directors of the affected banks have been replaced. There is regular communication with the new board. Bangladesh Bank is monitoring the cash flow of these banks every day. If a family takes 23 thousand crore rupees from a bank, what does that bank have? Something new has to be done in these cases.

The governor said that the Bank Resolution Act will be enacted, through which all powers will come to the hands of the central bank, legally. As a result, everything including bank mergers and acquisitions will be possible. Capital will be transferred to some banks, new investments will be brought to some banks. A legal framework is needed to do this; That work is being done now. Meanwhile, the asset quality of the bank is being reviewed.

Finance Advisor Salehuddin Ahmed, Institute of Inclusive Finance and Development (INM) Executive Director Mustafa K Mujeri, Unilever Bangladesh Limited Chairman and Managing Director Mohammad Javed Akhtar, Dhaka University Vice-Chancellor (Education) Professor Saima Haque and others also spoke on the occasion.