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Rigid actions against culprits to prevent anarchy in banking sector


OurtimeBD.com
11.06.2018

Prof. Dr. Mustafizur Rahman, Distinguished Fellow, CPD

Prof. Dr. Mustafizur Rahman, Distinguished Fellow, CPD : It is important to ensure good governance in the banking sector. We have to maintain strong position to prevent the anarchy we are witnessing in this sector.
The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) has expressed a very positive outlook by saying that the criminals will be brought under fair investigation.
The banking sector has become the subject to anarchy because of a handful of people. These are criminal offences and do not comply with our policy. Both Center for Policy Dialogue (CPD) and FBCCI are standing side by side in the decision to bring them to justice.
I was not able to find anything positive in the government’s policy to bar the corruption of the banking sector. Instead, the evil practice is being patronized. The government approved a 2.5% tax rebate in the budget for this sector, but failed to send a strong signal which was necessary to prevent the disruption.
Corporate tax was reduced for a benefit of some specific people of a special sector. This is done to enable an extensive opportunity for the big debt defaulters, who are being investigated. You might have noticed that there are no clear speculations regarding the outcome of lowering the corporate tax. How will this affect the banking sector? By increased liquidity or increased bad debt?
Based on an interview by Ashiq Rahman, translated by Sofian Khan


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