Bangladesh Bank ‍Forms Task Force to‍ Reform⁣ Banking Sector

Bangladesh Bank ⁢has recently⁤ formed a six-member task force headed ⁤by​ the ‍governor to reform the banking sector. The program⁣ is conducted by appointing 14 Bangladesh ⁢Bank officials as well as some⁤ foreign ‌inspectors. The task force will assess the assets of 9 banks in three stages.

After the second meeting ‌of the task force⁣ on Monday (September 23), Bangladesh ⁣Bank Governor Dr. Ahsan H. Mansoor provided an update on the ⁤progress. ⁤Husne Ara Shikha, Executive ⁣Director ‍and‌ Spokesperson of Bangladesh Bank was present on the occasion.

The governor said that two meetings of ‍the task force had already been held.⁣ 14 officials of‌ Bangladesh Bank have‌ been designated⁤ for investigation.​ Furthermore, ​some foreign ⁣inspectors will be appointed. A task force made up of all ⁢the inspectors will begin to⁤ operate.

The ‌task force ⁣will focus ⁣on ⁣three key areas: identifying ⁤damaged assets, locating the assets, and recovering ⁣them. In the first ⁤phase, the ​assets of ‌3 banks, ​including⁣ Islami Bank, will be assessed. The second and third phases will cover an additional 6 banks, bringing the total ⁢to‌ 9 banks.

To achieve this, 14 ‍officers of Bangladesh Bank​ have been divided into 3 divisions and given responsibility. The teams will investigate and identify instances of money laundering and work to recover the funds‌ in accordance with international ⁣law.

The⁣ governor⁣ also mentioned that the board of 11 banks has been dissolved, and transfer flows are increasing. This‌ is⁢ expected to improve⁤ the liquidity flow of these banks, enabling them to make better payments and ultimately recover.