The Financial Institution Division under the Ministry of Finance (MoF) on Thursday directed the BB in this regard, to restore financial discipline in the economy, and to strengthen the ailing banking sector. Quoting the reform pledges with regard to banks, included in the 13-point AL manifesto, the Division in its instruction asked the BB for immediate effective measures. Quoting the AL manifesto, the finance ministry asked the BB to undertake initiatives to tackle illegal capital flight to foreign countries, and to combat money laundering effectively. The pledge also spoke of bringing culprits in the banking sector to book. As of September, 2018, NPLs in the banking sector stood at nearly Tk 1,00,000, crore or 11.45% of total disbursed loans.

Source: Dhaka Tribune January 05, 2019 16:52 UTC