Dhaka: Finance Adviser to the interim government, Dr. Salehuddin Ahmed, announced today that the government is prepared to confront the challenges it faces, alongside managing internal and external factors, to advance the nation. Speaking at a "Policy Dialogue on Financial and Economic Reforms in Bangladesh" at BRAC University, Dr. Ahmed emphasized that the nation is not in a financial crisis but is navigating political and economic challenges. According to Bangladesh Sangbad Sangstha, Dr. Ahmed highlighted that the country had previously faced and efficiently managed economic hardships during the 2007-08 periods. He addressed the issue of money being laundered abroad, asserting that efforts are underway to repatriate the funds and ensure that such activities are curtailed in the future. The interim government aims to set a precedent for successive governments to follow through with reforms in the financial and banking sectors. Dr. Ahmed, a former central bank governor, shared that the government is impleme nting short-term reforms in financial sectors, while long-term reforms are expected to be continued by future political administrations. He noted that the banking sector has witnessed some restoration of discipline due to proactive steps. He also pointed out that merely focusing on growth as a development strategy may not be effective and suggested a shift in strategy. Dr. Debapriya Bhattacharya, Distinguished Fellow at the Centre for Policy Dialogue, accused the previous regime of providing misleading growth figures and highlighted issues such as illicit financial flows and inter-sectoral imbalances. He warned that without dismantling the power base of existing oligarchs, meaningful reforms would be difficult. BSEC Commissioner Farzana Lalarukh expressed the desire for the commission to act as a facilitator rather than a regulator, while addressing the need to build trust in the capital market through transparency and accountability. BRAC Bank's CEO, Selim RF Hussain, emphasized the immediate need for tax compliance and regulatory reforms to prevent financial malpractices. The event, hosted by BRAC University, gathered key policymakers, financial leaders, and academics to discuss necessary reforms for strengthening Bangladesh's financial framework.
