Bangladesh Bank Governor Dr. Ahsan H. Mansur announced that the country has received an additional $3 billion in remittances over the past five months.
“In the last five months, we have received an additional $3 billion in remittances. Good governance has also reduced money laundering,” Dr. Mansur said.
He made the statement while speaking to journalists after inaugurating Islami Bank Bangladesh PLC’s 400th branch in Ghatail, Tangail, on Saturday afternoon.
The country’s foreign exchange reserves have surpassed $20 billion, signaling a positive shift in the nation’s economic landscape, he also said.
Dr. Mansur noted significant progress in stabilizing the banking sector, which he had previously warned was on the verge of collapse, with ten banks nearing bankruptcy.
“The scenario is now changing,” he said. “Many were worried about the collapse of the banking sector. However, the fact that the banks have turned around is the big thing. They will not fall again.”
Dr. Mansur said, “Bangladesh cannot move forward in its economy without addressing the issues in the banking sector. To restructure the state’s economy, this sector must be revamped. Islamic banks, in particular, are emerging as leaders and are on the path to meeting international standards.”
“We had several crises in our economy, including a significant trade deficit and depleting reserves. However, we have made substantial progress. Since last August, Bangladesh Bank has not sold any dollars, and reserves are no longer decreasing—they are set to increase.”
