Macroeconomic stability at satisfactory level: Hossain Zillur
Former adviser to the caretaker government, Hossain Zillur Rahman, has identified five major challenges in the economy.
He said efforts are underway to restore discipline in the financial sector, and macroeconomic stability has reached a satisfactory level.
Hossain Zillur Rahman believes that if appropriate measures are taken, positive progress will be visible in the other three areas by 2025.
The five major economic challenges identified by Hossain Zillur Rahman include controlling inflation, creating employment opportunities and reducing the influence of the oligarchic business class.
Hossain Zillur Rahman made these comments during his address as the chairperson at the launch of the sixth edition of the Banking Almanac at the CIRDAP auditorium in Dhaka on Saturday morning.
Finance adviser Salehuddin Ahmed attended the event as the chief guest.
Special guests included finance secretary Md Khairuzzaman Majumder, deputy governor of Bangladesh Bank Nurun Nahar, and chairman of the Bangladesh Association of Banks (BAB) Abdul Hai Sarker.
The organizers mentioned that the Banking Almanac contains up-to-date information on all banks and financial institutions in the country, covering data up to 31 December 2023.
The almanac has been published since 2016, in collaboration with Shikkhabichitra, an educational weekly, and includes details about the workforce, branches, and products of banks and financial institutions.
Hossain Zillur Rahman emphasized the need to accelerate the economy and stated that this is not solely the responsibility of the finance ministry but also requires the equal involvement of other sectors.
He pointed out that investment has stalled and that there is much work to be done, including improving law and order.
He also highlighted the importance of creating trust at the grassroots level, particularly in small and medium-sized enterprises (SMEs), and protecting families from inflationary pressures.
He also noted that visible steps have been taken to reduce the market control of oligarchs.
In his speech, finance adviser Salehuddin Ahmed said that the Banking Almanac would be useful not only to those in the banking and financial sectors but also to investors.
He mentioned that there are often questions regarding exports, GDP calculations, and other related issues, and that data discrepancies are sometimes due to incorrect calculations or the negative role of politicians.
Finance secretary Khairuzzaman Majumder mentioned that he had never seen the Banking Almanac before and had only seen it for the first time recently. After reviewing it, he felt that it would also be useful for depositors.
Editor of the book and chairman of Global Islamic Bank, Nurul Amin, stated that it was not possible to provide fully updated information in the book. Although the almanac covers information up to December 2023, it has not included data from Padma Bank, though other institutions have contributed.
The Banking Almanac is now available both in print and online. It can be purchased from Amazon.com, Rokomari.com, and from the sales centers of the publishing company Pathok Samabesh at a price of Tk 1,250.