The Centre for Policy Dialogue (CPD) on Saturday (December 23) revealed that approximately Tk92,261 crore has been plundered from the country’s banking sector over the past 15 years from 2008.

The independent think-tank revealed the facts in a media briefing titled 'Economy of Bangladesh 2023-24: Ongoing Crisis and Actions' at its Dhanmondi office in the capital on Saturday morning.

The country’s banking sector has been plunged into the grip of a certain section of people and the issue is getting worse gradually. Despite the worsening situation, there has been a lack of effective action to address the issue, CPD said.

While addressing the press briefing, CPD Executive Director Fahmida Khatun said that the financial irregularities including sanction loans with fake documents, loans under the name of non-existent institutions, and embezzlement of money took place during the period.

The CPD said the burden of higher inflationary pressure is affecting the low-income group adversely while an organised syndicate is fueling the inflation through market manipulation.

The country’s overall economy is passing through a tough situation due to the increasing global inflation against the backdrop of the Russia-Ukraine war, CPD said in its findings.

Besides, the local revenue collection is not meeting the desired goal while the people’s suffering is mounting alarmingly due to the faulty internal management process, it said.   

The government’s dependency has increased on savings bonds to meet the budget deficits, it said.

BDST: 1807 HRS, DEC 23, 2023
MN/SMS