12:00 AM, December 12, 2012 / LAST MODIFIED: 12:00 AM, December 12, 2012

Upgrade banking system to int'l standard

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Tabassum Fahima Zaman, Muslima Sharif , On e-mail

The banking system of Bangladesh needs to be upgraded to the international standard, according to the World Bank. The framework followed for the banks in our country needs to be upgraded. Although there are many private and public banks in the country, most of them lack efficiency and stability. There is lack of active state involvement in the financial sector, which if ensured can help maintain the economic stability of the country, stimulate growth and also create employment opportunities. Moreover, the various services provided by the banks like loan classification, provisioning, rescheduling, etc., need to be strengthened in order to reach the global standard. The role of the state needs to be adjusted from direct intervention to less direct involvement as the crisis subsides.

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