Finance Adviser stresses strengthening capital market to reduce bank dependency

Finance Adviser Dr. Salehuddin Ahmed on Monday said Bangladesh's financial sector is overdependent on banks and underscored the urgent need to strengthen Bangladesh's capital market and expand Sukuk bonds to reduce the dependency for financing both public and private projects. "Bangladesh's financial sector suffers from an over-reliance on bank borrowing where both private and public sector entities take loans, often default, and walk away without facing consequences. That is the tragedy of Bangladesh,"he said at a seminar in the capital. The seminar on "Unlocking Bangladesh's Bond & Sukuk Markets: Fiscal Space, Infrastructure Delivery and Islamic Money Market Development" was jointly organised by Bangladesh Securities and Exchange Commission & Dhaka Stock Exchange PLC. He stressed that a functional capital market with...