The central bank boss said that the new Shariah-compliant commercial bank from merging five others is dropping this week. Ahsan Mansur told a business summit that the next elected government needs to let the Bangladesh Bank run independently if they want actual good governance, and he thinks central bank workers should get their own pay scale like 130 other countries already do.
The governor mentioned businesses can open letters of credit without limits because dollar reserves are looking decent, but he noticed something weird where fewer LCs are getting opened even though more stuff is being imported. Turns out the bank cracked down on people laundering cash through fake invoicing schemes.
Mansur said the country desperately needs better bond and capital markets for industrial funding because relying only on banks for investment money is what creates all these defaulted loans.
The governor mentioned businesses can open letters of credit without limits because dollar reserves are looking decent, but he noticed something weird where fewer LCs are getting opened even though more stuff is being imported. Turns out the bank cracked down on people laundering cash through fake invoicing schemes.
Mansur said the country desperately needs better bond and capital markets for industrial funding because relying only on banks for investment money is what creates all these defaulted loans.
