New government will continue ongoing banking reforms: governor
The new government will continue the ongoing reform programmes in the banking sector, Finance Minister Amir Khosru Mahmud Chowdhury told Bangladesh Bank (BB) Governor Ahsan H Mansur today.
Mansur shared the information with reporters after a meeting with the finance minister at the secretariat.
For all latest news, follow The Daily Star's Google News channel. “He (Chowdhury) has emphasised the need to continue these reforms,” the governor said, describing the minister as “very positive” about the measures.
Responding to questions, Mansur said he briefed the minister on the latest updates regarding the reform initiatives undertaken by the central bank.
The minister expressed support for the steps taken by the central bank to reduce non-performing loans, he added.
Speaking about Sammilito Islami Bank, the governor said depositors are gradually getting back their money, and fresh deposits are also coming in.
The person who had been selected as managing director of the bank would not be able to join due to health reasons, the governor noted, and a new managing director will be appointed soon.
Bangladesh Bank has undertaken several reform initiatives in the banking sector, including the merger of five troubled shariah-based commercial banks into a single entity, and a Tk 20,000 crore restructuring programme aimed at rehabilitating troubled lenders.
This plan involves international asset quality reviews, mergers of troubled banks, equity injections, recapitalisation, and strengthened resolution tools to deal with failing lenders under a new legal framework.
The central bank has also drafted 45 amendments to the Bank Company Act, aimed at tightening governance and regulatory oversight across the banking sector.
Comments