The interim government will take necessary steps to recover all laundered money, said Finance and Planning Adviser Salehuddin Ahmed at the Secretariat on Saturday.
To this end, the first step is to take necessary actions based on accurate data and information.
“There is a process. Information will be needed,” Dr Salehuddin Ahmed said while exchanging views with reporters.
Ahmed, who served as governor of the Bangladesh Bank between May 2005 and April 2009, commented on the lack of good governance in the banking sector, stating: “The priority of the interim government now is to bring the law and order situation under control.
“However, it’s not just about the streets; the banking and financial sectors must be given top priority. This government isn’t here for long, so these tasks need to be done quickly.
“Restoring law and order, and ensuring the smooth operation of banking and port activities are the government’s top priorities to jump start the economy.”
However, Ahmed sees a challenge in restoring public trust in the banking sector.
“Many rules and norms of the Bangladesh Bank (BB) were not followed. Those who were supposed to enforce the rules did not, and those who were supposed to comply did not adhere to them.
“There are macroeconomic challenges, and inflation is a major issue. Immediate focus is needed on reviving this sector and working to control inflation,” he added.
“Although our economy has grown, the majority of people have been deprived of its benefits,” he also said.
When asked about the resignation of the central bank governor, he said: “The position of the Bangladesh Bank is sensitive. It is true that he has resigned, but I cannot comment further at this moment. There is a meeting tomorrow (Sunday), and we will make a decision after discussing the matter during the meeting.”
Asked about the possible steps to address the growing trend of Non-Performing Loans (NPLs), the adviser said that the interim government is sincere in dealing with this matter. “But, we will definitely try to address the persisting challenges in the macroeconomy, including inflation. Our immediate focus is to ensure that if the pace of the economy slows down, we are able to address that challenge.
“However, if it comes to a complete halt, it will take much more time and energy to get it started again. We will try to expedite the process by motivating all concerned,” he added.
After assuming office at the Ministry of Finance at the Bangladesh Secretariat, he also said: “It is a significant advantage for the country that it has the endless vigor of the general people, although there are some mismatches in leadership and management. We will have to immediately address these challenges and move forward to create a smooth path for those who will come to leadership in the future.”
Seeking wholehearted support from all concerned, including the media, Dr Salehuddin also welcomed proactive suggestions from all stakeholders, including the media.