TDS Desk

Dr Ahsan H Mansur, governor of Bangladesh Bank, said remittance inflows over the past five months have reached $3 billion.

He added that foreign reserves currently exceed $20 billion in Bangladesh.

Commenting on the banking sector, he said: “Initially, I mentioned that ten banks were on the brink of bankruptcy, but they have now recovered. The situation is improving.”

Dr Mansur made these comments on Saturday afternoon while addressing journalists at the inauguration of Islami Bank Bangladesh PLC’s 400th branch, held at the Ghatail Upazila Auditorium in Tangail.

Dr Mansur said that concerns about a collapse in the banking sector had eased, as banks have now stabilized.

“This recovery is significant. None of the banks will collapse now. The economy cannot progress without the banking sector. To rebuild the economy, the banking sector must also be restructured. Overall, Islami Bank is now leading the sector and is on its way to achieving international standards. The Islamic banking sector must be further organized,” he said.

He further added that the economic challenges faced by Bangladesh, including a large deficit in global trade and declining reserves. “We have largely overcome these challenges. Bangladesh Bank’s reserves are no longer decreasing.”

The Bangladesh Bank governor added that since August, the central bank has not sold any dollars, meaning reserves will not fall but rather increase.