Finance Minister declares for retirement in December

Special Correspondent: Finance Minister Abul Maal Abdul Muhith has declared to go on retirement in the upcoming December.

He said, "I as a minister want to go on retirement in December this year. Corrosion touches if someone remains too much time at one place, which does not often bring good results for the country. Now I really will go on retirement."

He, however, did not clear whether he will retire from the politics along with ministry.

Finance Minister came up with the disclosure while addressing the Annual Conference 2018 of Agrani Bank Limited as the chief guest at a city hotel on Saturday.

Muhith also reiterated his suggestion to bankers for properly evaluating any project proposal before allocating loans to help the banking sector flourish further.

"I'm repeating again. Before giving banking services, you'll have to keep in mind two things - you have to properly evaluate any project (loan) proposal and you have to know your clients properly," he said.

About scrutinizing project proposals for loans and other services, Muhith said many banks and financial institutions keep consultants to make evaluations and even a certain section of officials within the bank work as experts over this.

"You'll have to continue and nurture such 'expert culture' in every bank so that you can properly evaluate any project proposal," he said, suggesting the bank officials to try to amend the flaws and loopholes, if any, in project proposals.

The finance minister also underscored the need for properly following the 'know your clients' formula to have adequate information about individuals or organizations seeking the banking services.

"Try to build a relationship of soul with the clients because from that both you and your clients can benefit. On the whole, the prosperity of the clients will contribute immensely to your development and prosperity," he told the bank officials.

Putting emphasis on further raising the number of branches of banks across the country, he said: "The more we'll be able to involve the larger section of people in the banking system, the more the financial and economic activities will be enhanced and strengthened in the country."

The veteran minister also suggested for giving due importance to taking more corrective steps on various operations of the banks based on their experiences.

He also suggested the bank high-ups to be more compliant by following the banking rules and regulations properly.

risingbd/Dhaka/February 17, 2018/Hasnat/A K Azad