Finance minister asks bankers to fix their problems

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Finance minister AHM Mustafa Kamal addressing the annual conference of the branch managers of Bangladesh Development Bank Limited (BDBL) at its auditorium in Dhaka on Thursday. Photo: PID

Finance minister AHM Mustafa Kamal on Thursday asked bank officials to fix their own problems before any tougher action starts coming from the higher level of the government, reports UNB.

The minister came up with the remark while addressing the annual conference of the branch managers of Bangladesh Development Bank Limited (BDBL) at its auditorium in the capital.

Mustafa Kamal said he was never a loan defaulter in his business career but he is now being criticised in parliament due to the present condition of the banking sector.

“All bankers are not bad. Banks have to face problems due to some bad bank officials,” he said.

The minister said cooperation is needed from all concerned to improve the banking sector as all other areas of the economy are in good shape. Bangladesh is performing well amid the bad global economic situation, he added.

“Bangladesh is now the 39th in the world economy. We hope the country can reach the 24th position by 2027. We’ll achieve the status of a developed country by 2041 and fulfil the dream of Bangabandhu Sheikh Mujibur Rahman,” Mustafa Kamal said.

The minister said banks have been set up in the country to contribute to the industrial sector and industries. “So, you’ve a responsibility to society for creating jobs.”

Kamal said the country will make further progress under the leadership of prime minister Sheikh Hasina as her government is committed to serving the nation. “So, your support is needed to build ‘Sonar Bangla’.”

Bangladesh Bank governor Fazle Kabir urged the bank officials to disburse loans properly so that the number of loan defaulters cannot increase in the future.

“BDBL is an important bank in the sector. So, you’ve to perform well here. You should increase your deposits. Now banks are dependent on technology. You all should adopt technology and acquire skills in it as per the global standards,” he added.

Fazle Kabir said the loan flow to private sector will increase after April when the single-digit interest rate policy will come into effect.

“BDBL has been able to reduce classified loan to 38 per cent from 50 per cent. The default loans should further be reduced,” the central bank governor added. 

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