Bangladesh is on track to set a record for inward remittances through legal channels this year, as expatriates regain trust in the banking system, said Bangladesh Bank Governor Dr Ahsan H Mansur.
The governor made the remarks while addressing concerns over recent media reports alleging loan irregularities involving an independent director of Islami Bank Bangladesh PLC.
Following an investigation, Bangladesh Bank found no evidence to support the claims against Abdul Jalil, an independent director of the bank.
“Publishing reports in newspapers is not a probe that proves someone guilty. Sometimes, misinformation and lack of proper verification lead to misleading reports,” said Dr Mansur.
He suggested that vested groups opposing banking sector reforms might be spreading such propaganda.
He, however, emphasised the positive trajectory of the banking sector, particularly in remittance collection. “We have confidence in the current board of Islami Bank. The bank has made a remarkable turnaround and is excelling in areas such as deposit growth, investment, and remittance collection.”
Dr Mansur expressed optimism that remittance inflows through official channels would hit a new high this year. “Expatriates now have renewed confidence in the banking system, and this will reflect in record-breaking remittance figures,” he added.
About small depositors in some troubled banks, the governor reassured that Bangladesh Bank is working on policies to safeguard depositors' interests.
“There is no reason to worry about customer deposits in any scheduled bank. We are working on long-term solutions, but people need to be patient for a steady recovery,” he said.
With increasing trust in the banking system and ongoing reforms, Bangladesh is expected to see strong economic gains from its remittance-dependent financial sector.
