Bangladesh Bank Governor Dr Ahsan H Mansur has clarified that no bank accounts belonging to any companies, including S Alam Group or Beximco, have been frozen.
"First, Bangladesh Bank does not want to diminish the value of any business establishment. Second, we will not take any action that could harm employment, salaries, livelihoods, or economic activities associated with these businesses," Dr Mansur said during a press briefing on the recent financial sector developments on Sunday (8 September).
He further criticised the spread of misleading or malicious reports in the media, stating that such news is entirely unexpected and unwarranted.
The governor reassured that no company’s bank account will be frozen in the future either.
He acknowledged that while some banks might have overzealously taken such steps, they were not acting under instructions from Bangladesh Bank.
To restore public confidence, the central bank has implemented several measures, including raising deposit insurance coverage from Tk1,00,000 to Tk2,00,000. This increase will ensure the protection of deposits for 95% of account holders, Dr Mansur noted.
He also mentioned that a task force focusing on the banking sector will begin operations within the next ten days, with support from international organisations such as the World Bank, IMF, and ADB.
On the subject of small and medium enterprises (SMEs), the governor expressed concern that many entrepreneurs in this sector were struggling to obtain loans.
"We are investigating why this is happening, even though Tk25,000 crore is still available for this sector," he added.
Regarding foreign currency reserves, Dr Mansur highlighted a positive trend.
"Previously, our reserves would decrease by $1.1 billion every month, but now they are stabilising and even increasing. This improvement is due to higher remittances and increased liquidity in the banking system," he stated.
