B Mirror Report: Finance Adviser Dr. Salehuddin Ahmed today reaffirmed the government’s commitment to safeguarding depositors’ interests while highlighting key corrective measures undertaken in the banking sector.
Speaking to reporters after chairing a meeting of the Advisers Council Committee on Government Purchase at the Bangladesh Secretariat, Dr. Ahmed urged stakeholders to adopt a balanced and constructive approach when evaluating the sector.
I request you to highlight issues positively as well. If there are mistakes, we will try to correct them that is the most important thing, he said.
The Finance Adviser noted that the government has taken difficult but necessary decisions to address irregularities and restore discipline in the financial system. Reflecting on his prior experience as Bangladesh Bank Governor during the 1/11 caretaker government period, he said regulatory actions are not always convenient but are sometimes essential.
“Many actions taken at that time were not comfortable or palatable, but they were required,” he remarked.
Dr. Ahmed stressed that protecting depositors remains the government’s top priority. “Those who have deposits or fixed deposits in banks will receive their money. We have ensured that,” he added.
Assessing the interim administration’s 18-month tenure, he said the government had managed to stabilise the economy despite significant inherited pressures. “In the last 18 months, we’ve tried to place Bangladesh in a stable position. Considering the country’s 54-year journey, the overall achievement is not poor,” he said. He further highlighted the country’s sustained economic growth and capacity to support a population that has grown from 75 million at independence to around 180 million today.
Dr. Ahmed also reflected on systemic challenges in previous administrations, citing weaknesses in institutional transparency and accountability, misuse of discretionary powers, and misallocation of credit as factors contributing to economic distortions. He emphasised that neither he nor his colleagues personally benefited from such practices, saying, “At least in my case, I have lived modestly. I have always lived in a flat. I have no personal gains from these matters.”
On proposed amendments to the Bangladesh Bank Order and changes to the governor’s status, Dr. Ahmed said structural reforms must go beyond symbolic measures. “Simply upgrading the governor’s status is not enough. Broader banking sector reforms and governance changes are required,” he noted, adding that board composition adjustments or reduced government representation involve complex policy decisions.
Regarding compensation for shareholders of troubled banks, he described the issue as technically complex, saying options are being explored to provide partial relief where feasible. “It may be possible in some cases to offer a portion in shares of consolidated banks or through other mechanisms. But this requires careful financial calculation,” he said.
Dr. Ahmed concluded by underlining that institutional reforms take time and require sustained efforts from future governments to strengthen financial stability and consolidate progress.
