Economic reforms cannot be effectively implemented without first undertaking political reforms, said Bangladesh Bank Governor Dr Ahsan H Mansur.
"We are striving to ensure that every depositor receives every penny they are owed. If everyone rushes together, no one will get their money. Withdraw only what is absolutely necessary, and proceed step by step," he said during a press conference held at Bangladesh Bank on Wednesday (28 August).
Urging depositors to remain patient, the Governor stated, "We are making every possible effort to normalise the banking sector. Until now, no depositor in Bangladesh has lost their money. The errors and discrepancies of the past will be rectified impartially."
The governor also disclosed that steps have been taken to establish a Banking Commission to oversee the reform of the banking sector.
This will not be done haphazardly but in an effective manner, with foreign assistance where necessary. The experiences of countries such as Sri Lanka will be studied in this context, he added.
Dr Ahsan H Mansur said that it is too early to say whether the prices of goods will decrease in the next two to three months. Efforts are being made to keep the exchange rate relatively stable.
