Finance Adviser to the interim government Dr Salehuddin Ahmed has assured the public that no depositor will lose their money, even in financially struggling banks.
Speaking to journalists after a meeting with government officials at the Nabinagar Upazila Parishad auditorium in Brahmanbaria on Saturday, he emphasised the government’s commitment to protecting depositors’ interests.
Dr Salehuddin said, “The government is committed to returning the money of all depositors. No one’s funds will disappear. However, it may take some time because some have taken the money and disappeared. Such incidents are unheard of in most parts of the world.”
He pointed out that Bangladesh Bank is working to rehabilitate underperforming banks, citing Islami Bank as an example of a financial institution where confidence is beginning to return.
A Bank Resolution Act has already been enacted to support struggling banks and to guarantee depositor protection.
On the issue of lowering interest rates on savings certificates, Dr Salehuddin explained the need for balance. He said, “If we increase the profit rate on savings certificates, everyone will buy those instead of keeping their money at the bank. But banks also have liquidity needs. If banks lose deposits, where will they get money from?”
Addressing the unrest within the National Board of Revenue (NBR), the adviser noted, “We are holding discussions with them and will take necessary measures through dialogue. A strong five-member committee has also been formed to resolve the issue.”
Dr Salehuddin also talked about the bureaucratic hurdles that discourage foreign investors, saying efforts are underway to centralise all types of business approvals to reduce unnecessarily complicated rules, regulations, and administrative procedures.
“We’re working to ensure foreign investors don’t have to go to 10–12 different offices. We’re trying to centralise the clearance process,” he added.
Bangladesh Bank has so far provided Tk 52,500 crore in financial support to 12 weak banks in the current fiscal year. This support includes printed currency, government guarantees, and special facilities initiated since September.
According to Bangladesh Bank sources, Tk 33,000 crore has been disbursed through demand loans to 10 banks to ensure repayment of depositors. In addition, Tk 19,000 crore in deficits from current accounts at 9 banks has also been converted into demand loans.
The bank receiving the highest loan is First Security Islami Bank with Tk 14,200 crore, followed by Social Islami Bank (SIBL), National Bank, EXIM Bank, and Global Islami Bank.
In the central bank list, other banks include Islami Bank Bangladesh, AB Bank, BCBL, ICB, BASIC Bank, and Padma Bank.