Banking, financial sectors in peril: Finance Minister

Economic Correspondent: Finance Minister AHM Mustafa Kamal said, “I personally think that our banking and financial sectors are facing crisis. Country’s development is not possible the way we are operating our banking sectors.”

The finance minister came up with the comment while speaking as the chief guest at the inaugural session of Agrani Bank’s annual conference-2019' in the ballroom of InterContinental Dhaka on Thursday.

Mustafa said, “We can’t allow long-term loan receiving short-term deposit. Those who are thinking of this strategy for development are living in the fool’s paradise. We have to put emphasis on bond market.”

The minister also emphasized on increasing the purview of tax rather than increasing tax for the development of the country.

A total of 16 people have been honored with valued customer award by Agrani Bank for their contributions to various fields of the country, including repayment of loans before the deadline.

Bangladesh Bank’s Governor Fazle Kabir, Financial Institution Division Secretary Asadul Islam, Chairman of Agrani Bank Dr. Zaid Bakht, Managing Director of the Bank Mohammad Shamsul Islam and others were present at the function.

risingbd/Dhaka/Mar 14, 2019/Nasir/AI