Bangladesh Bank governor Dr Ahsan H Mansur has said that the country's foreign reserves have now exceed $20 billion, while remittance inflow was $3 billion in the last five months.
Referring to the banking sector, he said, "Earlier, I mentioned that 10 banks were on the brink of bankruptcy, but they have now turned around. The situation is improving."
Dr Mansur made these remarks while talking to journalists at the opening ceremony of Ghatail Branch of Islami Bank Bangladesh PLC, at Ghatail Upazila Auditorium in Tangail on Saturday afternoon.
Governor Ahsan H mansur said: "Overall, Islami Bank is now leading the banking sector and heading toward achieving international standards. The Islamic banking sector must be further organized," he said.
He said that concerns about a collapse in the banking sector have eased, as banks have now stabilized.
"This recovery is significant. None of the banks will collapse now. The economy cannot progress without the banking sector. To rebuild the economy, the banking sector must also be restructured," he said.
He said the economic challenges faced by Bangladesh, including a large deficit in global trade and declining reserves. "We have largely overcome these challenges. Bangladesh Bank's reserves are no longer decreasing."
The Bangladesh Bank governor further said that the central bank has not sold any dollars since August. So, reserves will not fall but rather increase.
With Islami Bank Bangladesh PLC Chairman Md Obayed Ullah Al Masud in the chair, the inauguration ceremony was addressed by Managing Director Mohammed Monirul Moula, while the keynote paper was presented by Professor Muhammad Abdus Samad.
Apart from bankers, local businessmen and well wishers were present.
