Shielding banks grows tough even printing cash

Planning Adviser Dr. Wahid Uddin Mahmud has admitted that it has become even tougher to sustain banks by printing out cash. Dr. Wahid Uddin Mahmud was addressing an iftar mahfil and a discussion program organized by Development Journalists Forum of Bangladesh (DJFB) in the capital's Sher-E-Bangla Nagar on Monday. The iftar mahfil was presided over by DJFB President Hamid Uz Zaman while it was moderated by DJFB General Secretary Abu Hena Muhib.

Dr. Wahid Uddin Mahmud said with dismay that a great deal of cash is being printed out almost everyday to save banks but still protecting banks has turned out to be a very complicated job. The government is trying its best to save banks. He laid emphasis on formulating a future roadmap for the country's financial sector. Dr. Wahid Uddin Mahmud told reporters that money laundering has decreased in recent months.

Dr. Wahid Uddin Mahmud further said that it is very difficult to attract foreign direct investment for Bangladesh under the existing circumstances though export earnings have increased and price hike has remarkably come under control.

Dr. Wahid Uddin Mahmud stated that Bangladesh Bank and Finance Ministry are making the best of their efforts to save banks from shutting down and to establish good governance and transparency. He welcomed constructive criticism through mass media for the betterment of financial administration and banking system.