Banking Sector in Bangladesh
Change of MDs of state-owned banks, when is the policy overhaul?
The Financial Institutions Division under the Ministry of Finance on September 19 issued a circular cancelling the contract-based appointments of Managing Directors and Chief Executive Officers (MDs and CEOs) at six state-owned banks: Sonali, Rupali, Agrani, Janata, BASIC, and BDBL. This unprecedented decision marks the first time in Bangladesh's banking history that so many MD appointments have been revoked simultaneously, sparking intense debate within the sector.
No alternative to practicing ethics in banking sector
As an economist, I have always strived to move beyond theoretical studies and actively engage in implementing development ideas at the grassroots level. Inclusive development has always been at the center of my research. The opportunity to make economic practice relevant for the welfare of the common people is rare. Nonetheless, I have always been eager to apply my research experiences if given a chance in policy-making. In the late 1990s, an opportunity arose when I served as the Chairman of Janata Bank. I had nearly two years to realize the slogan "Janata Bank for the People" and to open up financial transactions for farmers and small entrepreneurs under the initiative "Janata Bank in Every Home." I also focused on bringing banking services closer to the masses by introducing digital technology and internship programs to engage the youth. The way the CEO and all bankers at that time came forward to establish participatory and humane banking was unparalleled. As a result, the bank became the number one bank in Bangladesh by all indicators.
ISPR requests not to get misled by rumours over security of St. Martin’s
Inter Services Public Relation Directorate (ISPR) has urged all not to be misguided by rumours spreading through social media over the security of St. Martin’s island centering Myanmar's ongoing internal conflict near the island.
Individual purchasing power indicates financial strength
There is no substitute for consumer purchasing power when it comes to personal happiness. Although it's often said that money is the root of all evil or that money is dirty, we cannot ignore its necessity in life. The reality is that we cannot get by without money, even for a moment. Money is the medium of exchange that underpins consumer purchasing power and paves the way for peace. Human life revolves around three types of energy: physical strength, mental strength, and financial strength. When these three forces are combined in one's life, one can be considered truly happy.
Bangladesh Bank’s restriction on journalists to help financial oligarchy: CPD
Dr Fahmida Khatun, executive director of Center for Policy Dialogue, a private think tank, on Thursday said that financial sector in Bangladesh suffers from lack of good governance and accountability.
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