Dhaka:Bangladesh Bank Governor Md. Mostaqur Rahman has stated that the banking sector will require an annual allocation of Tk 60,000 crore from the national budget over the next five to eight years. This funding is essential to help the sector recover from significant financial looting and structural damages.
According to United News of Bangladesh, Governor Rahman disclosed that when he assumed his position, one-third of the funds in the banking system had already been misappropriated. He described the extent of capital flight and financial irregularities as alarming.
Governor Rahman made these remarks during a campaign event promoting Bangla QR transactions organized by ONE Bank PLC at United International University in the capital. He highlighted the severe opportunity costs of this financial drain, noting that the misappropriated funds could have supported 2.0 crore families or financed two mega infrastructure projects like the Padma Bridge.
He strongly criticized those responsible for the systemic drain on liquidity, stating that referring to it as simple theft would be an understatement, as it amounted to outright plundering of public money.
The Governor assured that stringent legal actions are already in progress to hold the perpetrators accountable and to recover the misappropriated assets.