No new bank licenses should be issued on political grounds, a key recommendation made by the 12-member taskforce titled “Re-strategising the Economy and Mobilising Resources for Equitable and Sustainable Development.”
The proposal was shared on Tuesday in a statement released on Chief Adviser Prof. Muhammad Yunus' official Facebook page Chief Advier GOB.
The taskforce emphasised that political influence in the banking sector has significantly weakened it over decades, enabling a powerful vested interest group to dominate. It recommended that the Bangladesh Bank be allowed to function independently as outlined in the Bangladesh Bank Amendment Bill 2003.
To strengthen governance, the taskforce also suggested that no individual or group should be permitted to hold majority ownership in more than one commercial bank.
The statement urged the government to halt the use of public funds for recapitalising poorly governed banks and to develop an exit policy for troubled banks to safeguard depositor interests.
