2024-09-12 03:53:26
Published: 19:25, 11 September 2024 Updated: 19:26, 11 September 2024
Bangladesh Bank has formed a six-member task force to reform the banking sector. The overall work of the task force will be coordinated by the Governor of Bangladesh Bank.
The members of the task force are the Special Envoy for International Affairs of the Chief Adviser to the Interim Government. Lutfe Siddiqui, former Deputy Governor of Bangladesh Bank Muhammad A (Rumi) Ali, Chairman of BRAC Bank Mehriar M Hasan, former Chief Economist of World Bank Group’s Dhaka Office. Zahid Hossain, Vice Chancellor of ZNRF University of Management Science. M. Zubaydur Rahman and Sabbir Ahmed, Partner of Huda Vasi Chowdhury & Co.
The task force mainly assesses the current situation of the banking sector, bad assets and major risks to protect financial stability; Financial index review of weak banks, determination of the actual condition of loans, determination of provision deficiency, review of liquidity situation, determination of net capital, determination of the true value of assets, will conduct activities related to separation of bad assets of the respective banks. Also, to achieve crisis resilience through the task force, under the process of strengthening bank governance and risk management, regulatory framework development, limiting political and corporate influence in bank decision-making, bank ownership reform, etc., preparation of recovery, resolution framework and related guidelines for troubled banks, Various policy measures or steps will be taken. The task force will propose various laws related to the financial sector, such as: Bank Companies Act and Bangladesh Bank Order etc. reforms, asset management companies, bank acquisitions, mergers legislation, reform and modernization and take steps to publish the banking sector white paper.
NF/Rafiq