Taskforce formed for banking reforms

The Bangladesh Bank has formed a six-member taskforce to carry out reform initiatives in the country’s banking sector.
The taskforce will mainly assess the current financial situation of the banking sector and estimate the amount of distressed assets.
It will also identify major risks and review financial indicators of weak banks, according to a press release of the central bank.
Besides, it has also been tasked with assessment of the actual condition of loans, provision deficit, net capital, actual value of assets and review of liquidity situation.
The taskforce members are Lutfey Siddiqi, special envoy on international affairs to the chief adviser, Muhammad A (Rumee) Ali, former deputy governor of the Bangladesh Bank, Meheriar M Hasan, chairman of BRAC Bank, Zahid Hussain, former lead economist of World Bank Group, Dhaka office, Prof M Zubaidur Rahman, vice-chancellor of the ZNRF University of Management Sciences, and Sabbir Ahmed, partner of Hoda Vasi Chowdhury & Co.