Dhaka, Jan 10 (V7N) — Financial Advisor Dr. Salehuddin Ahmed has expressed optimism that he will perform effectively in his current role, stating that he did not fail as a central bank governor and will not fail as an advisor either. However, he acknowledged that accelerating Bangladesh’s economic progress remains a major challenge.

He made the remarks on Saturday while speaking at the release ceremony of the seventh edition of the Banking Almanac at the CIRDAP auditorium in the capital.

Dr. Salehuddin emphasized that inflation cannot be controlled without the cooperation of the business community, urging traders and entrepreneurs to work with the government to stabilize prices.

Commenting on the banking sector, he said the country’s banking system is currently in a stable position, though he admitted that reducing interest rates on bank loans is not feasible at this moment given the prevailing economic conditions.

At the event, several bankers pointed to the indiscriminate issuance of bank licenses in the past as a key reason behind the sector’s existing challenges.

Meanwhile, former advisor Dr. Hossain Zillur Rahman said that although the economy has improved from a previously fragile state, it has yet to reach a satisfactory level, indicating the need for continued reforms and cautious policymaking.

END/SMA/AJ