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The government should take proper, visible and fast actions to ensure good governance in the banking sector, said economists at a discussion.
They spoke at the unveiling of the fourth edition of Banking Almanac, a source of information on financial institutions in the country, in the capital on Saturday.
The government should publish all activities that have happened in the banking sector. Though it may face some criticism if the government does so, it will help remove the problems, said Salehuddin Ahmed, former governor of Bangladesh Bank.
To ensure good governance in the banking sector, all necessary steps should be taken fast and they should be visible, he also said.
Ahmed, the chairman of the editorial board of the Banking Almanac, urged the government to take strong measures for the betterment of the banking sector.
The activities and the process of the formation of rules and regulations in the financial sector should come under accountability, said Hossain Zillur Rahman, a former adviser to a caretaker government.
He said bona fide data was necessary for the improvement of the economy but some problems remain in getting the real data.
Rahman, also the executive chairman of the Power and Participation Research Centre, cited the example of homeless people living on footpaths.
Regarding the interest rate ceiling in the banking sector, the economist said what is happening regarding the deposit and lending rates are unacceptable.
Planning Minister MA Mannan said the global economic turmoil had impacted most countries, including Bangladesh.
“We will be able to overcome the situation without any big losses, hopefully,” he added.
Mohammad Nurul Amin, a former chairman of the Association of Bankers, Bangladesh, Md Khalilur Rahman, a former chairman of the Bangladesh Leasing and Finance Companies Association, Syed Ziauddin Ahmed, executive editor of Banking Almanac, and Abdar Rahman, publisher of Banking Almanac, also spoke.
The Almanac has been published since 2016 – a research project of Shikkha Bichitra, an education-related weekly magazine.
(DT)
