Dhaka, Dec 21 (V7N) — Financial Advisor Salehuddin Ahmed has emphasised the importance of transparency in the banking and financial sectors to address the current economic challenges. Speaking at the Bank Almanac publication ceremony on Saturday, he highlighted the shift in the government's approach towards providing accurate data, noting that past tendencies to underreport figures, such as inflation, are no longer prevalent.

"Currently, the inflation rate is 11 to 12 percent. Previously, it would have been shown as 9 percent," he remarked. He also acknowledged the significant issues in the banking, financial, and capital markets, attributing some of the problems to insiders and the responsibilities of previous regulatory bodies.

Ahmed stressed the importance of presenting accurate information to both domestic and international investors and hinted at upcoming reforms in the financial sector to stabilise the economy.

Former caretaker government advisor Dr. Hossain Zillur Rahman also addressed the gathering, calling for increased investment and inflation control to overcome economic challenges. "Investment must be increased to address economic challenges. At the same time, inflation must be brought under control to accelerate economic growth," he said.

Senior Secretary of the Ministry of Finance Khairuzzaman Majumder outlined ongoing reforms in the banking sector, assuring that their impact will soon be visible in the broader financial landscape.

The event highlighted the urgency of structural reforms and the role of transparency in restoring investor confidence and fostering economic stability.

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