10 banks of the country on the verge of bankruptcy: Governor

At least 10 banks in the country have gone bankrupt. The governor of Bangladesh Bank said that the government is trying to save them. Ahsan H. Mansoor.

The governor said this in a press conference at Bangladesh Bank on Sunday (September 8). However, he did not name the banks.

The governor said, it has been decided to increase the amount of deposit insurance from one lakh to two lakh. Through this, about 95 percent of the depositors' deposits have been fully secured. No country in the world can guarantee 100 percent depositor's money. Neither can we. If a bank goes bankrupt, small depositors will get their money back immediately. There is nothing to panic. Reforms have already started in the banking sector. Something is working. Right now our main objective is to restore the confidence of the depositors. So the governor advised not to panic.

Regarding the seizure of bank accounts, the governor said, so far we have not seized the account of any organization. Be it S Alam or Salman F Rahman. No organization's bank account has been seized. All individual accounts whose accounts have been frozen. We don't want to join any business. We don't want job loss and production disruption.

The Governor of Bangladesh Bank said, We do not expect any bank to go bankrupt, but at least 10 banks have gone into a bad state of bankruptcy. The government is trying to save them.

He said Bangladesh Bank has money for SME loans. But I can't give to small entrepreneurs. Not only that, the World Bank and the IMF go to invest in small entrepreneurs. But due to some problem these loans are not being distributed through the bank. We have asked the banks to explain the cause and solution of this problem in writing. He is hopeful that the flow of microcredit will increase very soon.

The governor confirmed that the task force will begin its work within the next ten days. He said that through the task force, the problems of the banking sector will be assessed and the previous policies will be reviewed. If it is found that a policy is made only for a few businesses then it will be cancelled. And if needed, it will be there. He assured that the family system of the banking sector will be broken.

Bandhan/Ciecha/Saa