The crisis in the banking sector could hamper achieving the sustainable development goals by 2030 and other targets, he warned. The Sanem quarterly review said the banking sector was in a huge crisis as the number of non-performing loans was rising amid weak regulation and shaky institutional structures. “Political patronage further debilitates the banking sector,” it said. The crisis was a culmination of the prolonged structural problems in the banking sector, the review points out. The recommendations include implementation of tax reforms for high revenue generation, reforms in the banking sector, better foreign exchange rate management, and diversification of export-products.

Source: Dhaka Tribune May 09, 2019 16:07 UTC