Our banking woes

The banking sector is in dire straits. According to reports, more than 60 banks are operating in Bangladesh, which is a relatively small country. And every year a good number of these banks are expanding operations across the country.

And the amount of default loans is also increasing by the day. And instead of clamping down on the defaulters, the central bank is making things easier for them by making repayment terms of bad loans easier.

We are concerned by this attitude of the central bank, because the increasing amount of defaulted loans is going to hurt the economy in the long run. The central bank should immediately look into this matter and take stringent measures to recover the bad loans; otherwise our banking sector may collapse and the damages will be irreversible.

Md Zillur Rahaman, Dhaka