Published: 12:33 AM, 09 June 2026
Editors' Council concerned over Bank Resolution Act
Editors' Council has expressed deep concern over Section 18(a) of the Bank Resolution Act, which it believes needs further scrutiny for the sake of the banking sector. The apex body of editors of the country's leading print media outlets raised the concern during a meeting with Bangladesh Bank (BB) Governor Md Mostaqur Rahman held at Kazemi Center in the central bank's headquarters on Monday. Members of the council led by its president and New Age Editor Nurul Kabir also discussed a range of issues affecting the country's banking sector with the leadership of the banking regulator. The council members also shared their concerns over the challenges facing the banking sector, particularly the rising volume of non-performing loans, the need to establish good governance in banks, the security of depositors' funds, and the current situation in the foreign exchange market. In response to the concerns, the BB Governor said the section, 18(a) of bank Resolution Act 2026, is not 'maintainable' as none is approached to regain stake of the struggling banks even after two months the act got passed in the parliament, meeting insiders said. Emerging from the meeting, New Age Editor Nurul Kabir said the Governor informed them about various reform initiatives and plans undertaken by BB to address the sector's problems and assured them that necessary measures would be taken.
The meeting also discussed the recent instability surrounding Islami Bank Bangladesh PLC, as well as issues related to inflation control, investment and employment conditions, and various aspects of the proposed national budget. The Editors' Council emphasized the need for effective measures to ensure transparency, accountability, and stability in the banking sector. In a press release, the central bank stated that the BB Governor briefed the editors on its ongoing reform agenda aimed at strengthening the country's banking sector. Key issues discussed included the management of non-performing loans (NPLs), governance reforms, oversight of weak banks, foreign exchange market stability, digital transformation, and measures to ensure overall financial sector stability. Governor Mostaqur Rahman updated them on the merger progress of financially weak banks, noting that some administrative and management-related changes have already been completed.
The process is expected to gain momentum following the upgradation of the banks' Core Banking Systems (CBS). Addressing the challenge of defaulted loans, the governor informed that the amendment and changes in the existing money loan court to ensure faster settlement of the cases linked to defaulted loans is underway. Simultaneously, it said, the governor told them that distressed asset management companies act to also be formulated to deal with unrecoverable assets more effectively. The editors have also been informed that the BB's stolen asset recovery moves help freeze laundered assets worth $25 million in the United Kingdom (UK), which will be brought back soon here. Emphasizing the importance of depoliticizing the banking sector, the governor said the central bank's reform programs focus on ensuring professionalism, accountability, and good governance in bank management and lending practices. Participants were also informed about regulatory measures taken in several large banks, including Islami Bank Bangladesh PLC, involving board restructuring, management changes, and initiatives aimed at protecting depositors' interests. On digital transformation, Mr. Rahman said the central bank is working to build an integrated digital financial ecosystem. Planned initiatives include expanding digital payment services, introducing AI-based credit assessment systems, broadening agent banking services, and implementing the "One Citizen, One Identity, One Wallet" concept to enhance access to digital financial services. The Governor further underscored that wider adoption of Bangla QR could accelerate cashless transactions, improve transaction security, and contribute to higher government revenue collection. In cases where patients require foreign currency exceeding the approved limit for medical treatment abroad, the governor said the regulator is providing approval as quickly as possible upon application through the concerned bank. In addition, the interest rate on funds used for bill discounting under the UPAS (Usance Payment at Sight) facility has been reduced, which is expected to help lower the prices of goods, it said. Other council members attended the meeting like Editor of Financial Express Shamsul Huq Zahid, Editor of Bonik Barta Dewan Hanif Mahmud, Editor of Manab Zameen Matiur Rahman Chowdhury, Editor of Prothom Alo Matiur Rahman, Editor of Daily Inqilab AMM Bahauddin, Editor of Daily Samakal Shahed Mohammad Ali and Editor of Agamir Shomoy Mustafa Mamun.
>>Saiful Alam, AA
