Bangladesh Bank is the central bank of Bangladesh. It has a responsibility to regulate the banks and financial institutes of the country. It is said that the Bangladesh Bank have been relatively successful in regulating the private banks. But on the contrary the recent Hallmark scam has questioned the central bank’s role in the financial sector. Many experts have said that the central bank does not have enough control on state owned banks.
The governor of the central bank has said that central bank has to safeguard the people’s money which is deposited on state owned banks. He said now it’s time to run banks by professional bankers. The Bangladesh Bank needs more authority to regulate the state owned banks. He said, the prevalent dual authority in public banks should be stopped.
He asked the bankers to admit their faults and stop playing with people’s money. Governor Atiur Rahman was appointed by the present government and his tenure will end on May next year.