Ethical failures in the financial sector

Professor Dr Rehman Sobhan on Thursday in a conference identified ethical failures in a number of areas of financial sectors, including the capital market, banking sector and commodity market. He also found ethical failures in other sectors like apparels, public service, access to healthcare and quality education, and even the country's democratic system. Criticising the political patronage behind gross financial anomalies, he said, “Had such money-based politics existed, leaders like Bangabandhu and Tajuddin wouldn't have emerged.”

Highlighting the “ethical void” in the capital market, he said the market operates based on speculations, and that it is like a casino. Being an investor in stocks and mutual funds, I can say that Professor Sobhan's remarks are absolutely correct. The speech, in my opinion, fully reflects the current situation in Bangladesh.  

Luthfe Ali, By e-mail