CPD terms banking sector an orphan

Economic Correspondent: Independent think tank Centre for Policy Dialogue (CPD) has termed the current state of banking sector as an ominous sign for the country’s economy.

Dr Debapriya Bhattacharya, distinguished fellow of CPD, said, "The year 2017 was the year of banking scam. Now banking sector has reduced to an orphan and its guardians are now abusing the orphan."

He came up with the remark at a press briefing in the city presenting CPD’s recommendations for fiscal 2018-19 budget.

"The banking sector of the cuntry has been plagued by financial scams, non-performing loans, inefficiency, and slack monitoring and supervision," he added.

“Every time before election, the remittance increases but more money gets laundered”, he said adding that money laundering happens through banking sector, unstable capital market and high import payments.

risingbd/Dhaka/April 17, 2018/Nasir/A K Azad