BNP Secretary General Mirza Fakhrul Islam Alamgir on Friday Bangladesh's economy is now in shambles due to extreme mismanagement in the banking sector, rampant corruption, and money laundering. Speaking at a press conference, he also said many local private banks established purely on political considerations are giving main focus on plundering
Tag: Economy
Bangladesh economy is on right track: IMF
Mentioning various measures of the government to address macroeconomic challenges, the International Monetary Fund (IMF) has observed that Bangladesh economy is on the right track. "I think, the economy is on right track in terms of meeting the objective of programme, getting inflation under control and addressing macroeconomic challenges given in
Govt hopes to restore pre-Covid momentum in economy
The government is hoping to return the economy to its pre-COVID growth momentum by the end of the current fiscal (2023-24), although that presents a significant challenge in the face of a clutch of economic headwinds. The government's vision for economic recovery is outlined in the "Medium Term Macroeconomic Policy Statement
Country’s economy to grow slightly faster: ADB
Bangladesh's gross domestic product (GDP) is expected to grow by 6.5 percent in fiscal year (FY) 2024, compared to the 6.0 percent growth in the FY 2023, according to the latest Asian Development Bank (ADB) report released Wednesday. The slightly faster growth forecast reflects an improvement in domestic demand and better
Concerted efforts needed for transition to circularity: BGMEA
Circular economy presents a clear pathway toward achieving greater environmental sustainability while fostering economic growth, said Faruque Hassan, President of Bangladesh Garment Manufacturers and Exporters Association (BGMEA). He said, “The readymade garment industry has historically followed a linear business model. However, it is evident that this trajectory needs to change if
Transition to circular economy can unlock potential for Bangladeshi textile industry
Speakers at a panel discussion stressed the need for collaborative approach of the industry stakeholders, innovative business model, and financial support mechanism to foster a circular industrial ecosystem in order to drive transition of Bangladesh’s RMG industry to circular economy. The discussion was as a part of a dialogue titled “Switch
Digital transformation sweeping across Bangladeshi banks
Bangladesh has entered the superhighway of digital transformation with its financial sector gaining momentum in recent years. The banking sector is considered to be the backbone of the financial system in most economies, and it plays a critical role in achieving economic growth and expansion. The development of the banking
DOUR : Bangladeshi bankers run for a cause
Banking is all about serving the people. Bankers always strive to find ways to contribute to the economy, keep people’s savings safe, help them prosper and include them in the nation's development. However, they also have another role to play, the social role. They go beyond their banking duties, come
Economy offers reasons for optimism despite problems
Economists are hopeful that Bangladesh's economy will regain the growth momentum while reducing inflation and stabilising the exchange rate in the New Year. Despite higher inflation and fluctuating currency exchange rate, record defaulted loans, they are optimistic about the overall growth of the domestic economy, which is predicted by the
