Banking sector plagued by graft, mismanagement: Salehuddin

Former Bangladesh Bank (BB) governor Salehuddin Ahmed has said the economic disparity is widening in the country day by day despite development attainments.

“In absence of good governance, corruption and mismanagement have affected the entire banking sector,” he told a roundtable on Saturday.

An organisation named 'The Dhaka Forum' organised the roundtable titled ‘Development, Democracy and Good Governance’ at the National Press Club.

Salehuddin, also its president, said any development based on equity is not taking place.

He pointed out that the whole banking sector is not being run in compliance with relevant policies, laws and international standards.

Salehuddin, however, said the financial indicators of overall economy are satisfactory, and the growth of the gross domestic product (GDP) has come out of the cycle of 6 per cent.

He regretted that political activities are not there in accordance with the expectations of the people."There is rather a serious lack of political tolerance," he added.

Salehuddin said there is no rule of law, and a country cannot achieve economic emancipation without it.

Former advisors to the caretaker government, M Hafizuddin Khan and Mainul Hosein, former cabinet secretary Ali Imam Majumdar, political science professor Dilara Chowdhury, economist Abu Ahmed and engineer Enamul Haque also spoke.