Bangladesh's Banking Crisis: The Way forward

The effort to recapitalise failing banks repeats the shameful history in which ordinary people paid for the failure of banks, the salvation of which, after being looted under political protection, required large sums of taxpayers’ money, speakers said. The banking sector crisis is owed to systemic problems sustained by years of banking data manipulation by the past AL government, political lending, widespread corruption in the banking sector and bankers’ failure to uphold professional ethics, the speakers. The situation of the banking sector was not so bad before 2017, Nurun Nahar ,Deputy Governor, Bangladesh Bank and Chief Guest said, recalling that the fall started taking place after certain Islamic banks were taken over. The decision to merge several banks and their...