The prospect of five Islamic banks in Bangladesh being merged into one “New Bank” has raised a general concern over whether such a move is the most effective solution to their problems. Merger memories exist in our banking history. My central argument is that restructuring each bank individually offers a more sustainable path forward.
The banking sector in Bangladesh is at a crossroads. Non-performing loans, the near absence of corporate governance, weak risk management practices and a lack of accountability have all prompted urgent calls for reform. International models are often considered key solutions, and consultants from abroad are brought in as preferred advisers. Yet, the real strength of sustainable reform lies in the knowledge, experience and contextual understanding of local professionals.
Readers may agree with my supposition that the current financial misfortune of Bangladesh is largely caused by white-collar crimes. Edwin Sutherland, a US sociologist who coined this terminology, defined white-collar crime as “a crime committed by a person of respectability and high social status in the course of his occupation”.
Recently I was listening to a YouTube preacher calling all bankers as sinners. A section of people in our society have similar perceptions about bankers. This encouraged me to explore further on this claim. The result I got is something that I like to share.
There is no single and straight answer to this question. The causes of failure are multiple and complex. We shall try to analyse some of them and see if we can arrive at a rational outcome.
Corporate executives usually control their business operations through a standard operating procedure. However, on some occasions, executives act differently under the influence of an unseen force referred to as institutional imperative.
The fascinating story of the dollar has taken a new turn that is widely known as de-dollarisation. Countries are cutting their reliance on the US dollar as the reserve currency, the primary medium of exchange and the unit of account.
Recent bank failures in the US and Switzerland have raised many questions regarding bankers’ role in the financial world. Questions are being asked: Can societies manage without banks even if their failure causes so much misery?
The prospect of five Islamic banks in Bangladesh being merged into one “New Bank” has raised a general concern over whether such a move is the most effective solution to their problems. Merger memories exist in our banking history. My central argument is that restructuring each bank individually offers a more sustainable path forward.
The banking sector in Bangladesh is at a crossroads. Non-performing loans, the near absence of corporate governance, weak risk management practices and a lack of accountability have all prompted urgent calls for reform. International models are often considered key solutions, and consultants from abroad are brought in as preferred advisers. Yet, the real strength of sustainable reform lies in the knowledge, experience and contextual understanding of local professionals.
Readers may agree with my supposition that the current financial misfortune of Bangladesh is largely caused by white-collar crimes. Edwin Sutherland, a US sociologist who coined this terminology, defined white-collar crime as “a crime committed by a person of respectability and high social status in the course of his occupation”.
Recently I was listening to a YouTube preacher calling all bankers as sinners. A section of people in our society have similar perceptions about bankers. This encouraged me to explore further on this claim. The result I got is something that I like to share.
There is no single and straight answer to this question. The causes of failure are multiple and complex. We shall try to analyse some of them and see if we can arrive at a rational outcome.
Corporate executives usually control their business operations through a standard operating procedure. However, on some occasions, executives act differently under the influence of an unseen force referred to as institutional imperative.
The fascinating story of the dollar has taken a new turn that is widely known as de-dollarisation. Countries are cutting their reliance on the US dollar as the reserve currency, the primary medium of exchange and the unit of account.
Recent bank failures in the US and Switzerland have raised many questions regarding bankers’ role in the financial world. Questions are being asked: Can societies manage without banks even if their failure causes so much misery?
Redundancy in the corporate world, technology, business, or sports is commonplace. Although redundancy always conveys a negative connotation, it is inevitable. Then how can redundancy be praiseworthy? It all depends on how we look at it.
An acclaimed entrepreneur and banking legend is no more. Abdur Rouf Chowdhury, former chairman of Bank Asia and visionary of Rangs Group passed away around midday on February 18, 2023.
