Information and Broadcasting Minister Zahiruddin Swapan announced that the bank sector will be reformed, changed, and repaired under a commission. He questioned why the important bank sector should be left out of reforms when commissions have been formed for media, anti-corruption, and administrative reforms. Swapan made these remarks as the chief guest at a seminar titled 'Good Governance in the Banking Sector and the Role of Media' organized by the Economic Reporters Forum (ERF) in Paltan, Dhaka.
Swapan emphasized that good governance in the banking sector is not an isolated issue and cannot be achieved solely through media presence without overall good governance in the state and political system. He accused state statistics of being used as political tools in the past, leading to data distortion and concealment of real situations. He also highlighted the need to reduce reliance on bank financing and strengthen the capital market.
United Commercial Bank's Managing Director Mamdudur Rashid noted the importance of the banking sector in the country's economic and social reality but pointed out that it has faced various crises due to long-term governance deficits. He revealed that the actual non-performing loan (NPL) rate has become visible after the central bank's directive to disclose real data, reflecting a long-standing reality rather than a one-year decline.
The seminar's main paper highlighted that the banking sector remains the primary source of financing in the country, with the capital market and bond market failing to play their desired roles. It stressed the interconnectedness of banking sector governance with the overall stability of the economy. The paper also underscored the crucial role of media as the 'fourth pillar' in ensuring good governance and preventing corruption, despite occasional government attempts to suppress constructive criticism.
