No mismanagement in financial sector will be tolerated: Kamal

Staff Correspondent

3 April, 2019 12:00 AM printer

Finance Minister AHM Mustafa Kamal on Tuesday has warned that he won’t allow any kind of mismanagement in the country’s financial sector.

 “I’m with good people, borrowers and bankers and I want to run everything in a proper and rightful way,” said AHM Mustafa Kamal.

 “All sorts of mismanagement, distortions and erosion of resources here and there should have to be contained, Kamal added.

 “I will follow her ideals. I will never allow any distortion and mismanagement here and there,” he said referring to strict instruction of the Prime Minister regarding streamlining financial sector. 

 Kamal said this while addressing the first Annual Business Conference of the newly-launched Padma Bank Limited at a city hotel in the capital.

 Noting that Bangladesh has notched 42nd slot in the global economy over the last 10 years down from the 58th slot, he said the objective is now is to topple one country every year and by 2041, to be included in the list of top 20 countries.

 Mentioning that everybody is safe in the country economically, Kamal said, “If  you trust me, you will not be loser. I am always with the good people, good bankers and good borrowers.”

Wishing utmost success of the Padma Bank, the Finance Minister said that the Padma Bank would become victorious in the coming years adding, “Based on my belief and findings, every bank and every financial institutions in the country would become victorious.”

 He said that Padma Bank has got its own destination while the bank would get a longer life in a better way since the bank is young. “I do believe that the Padma Bank has now have the requisite management.”

 The Finance Minister said it is now the time for Bangladesh to go forward and the next 25-30 years is the time for Bangladesh. “We’ll definitely build Sonar Bangla as dreamt by our Father of the Nation Bangabandhu Sheikh Mujibur Rahman,” he added.

Bangladesh Bank Governor Fazle Kabir, National Board of Revenue (NBR) Chairman Md Mosharraf Hussain Bhuiyan, Financial Institution Division Secretary Mohammad Asadul Islam were guests of honour in the conference. Chairman of Insurance Development and Regulatory Authority Mohammad Shafiqur Rahman Patwary and Padma Bank Chairman Chowdhury Nafeez Sarafat also graced the occasion.

Bangladesh Bank Governor Fazle Kabir suggested the Padma Bank high ups to refrain from aggressive lending side by side give attention to recovery.

 He also advised the bank management to ensure credit quality, avoiding excessive expenditure, upholding image of the Bank and practicing the culture of corporate governance.

 NBR Chairman Md Mosharraf Hussain Bhuiyan said that the banks would have to continue their efforts to gain the trust and confidence of its consumers.

 Urging all to join their hands of cooperation to the NBR to boost revenue collection, Mosharraf said those who launder money abroad would be continued to be brought to book.

 Chairman of Agrani Bank Dr. Zaid Bakht Chairman of Investment Corporation of Bangladesh Dr. Mojib Uddin Ahmed while chairmen, managing directors and chief executives of different banks and financial institutions and dignitaries were also present on the occasion.  Padma is a unique bank in Bangladesh’s history wherein four state-owned commercial banks, Sonali, Janata, Agrani and Rupali, and state-run non-banking financial organisation, Investment Corporation of Bangladesh (ICB) are in ownership structure.