Legal reforms
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.
Legal reforms are crucial for bank consolidation and identification of willful defaulters
At this moment, the most discussed issue in the banking sector is weak bank consolidation and willful defaulters being identified and brought under strict penalties. For a long time, the country's economists and bankers have been suggesting reforms for the banking sector, but the authorities have not heeded them. Recently, somewhat unexpectedly, Bangladesh Bank has instructed weak banks to merge with stronger ones in order to consolidate the banking sector. Simultaneously, there have been indications of adopting stringent measures against willful defaulters, who are considered as a 'menace' to the banking sector due to their significant influence and notoriety. Many have raised questions about why Bangladesh Bank has become vigilant regarding willful defaulters of loans and why it is initiating efforts for the consolidation of weak banks. Bangladesh Bank has not taken consistent or self-motivated initiatives to enforce stringent legal measures to address weak bank consolidation and identify willful defaulters of loans.
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