Finance
Fazle Kabir Dollar crisis and inflation are big challenges: BB Governor
Own Correspondent, Dhaka, May 28: Bangladesh Bank Governor Fazle Kabir said, "The dollar crisis and inflation have become a major challenge. Due to this there has been a huge trade deficit. In order to meet this challenge, not only the central bank, but all public and private commercial banks have to work collectively."
He said this while speaking at the Al-Arafah Islami Bank Scholarship Awarding Ceremony at the Officers Club in Dhaka on Saturday (May 28).
The governor said, "We have imposed a number of restrictions on imports. If we abide by them, we will be able to meet the challenge. Refrain from importing luxury goods at this time. In case of LC Open, we have given some margins, you will comply with these. We are providing dollars directly from the central bank's reserves to ease the crisis. It will continue. Besides, we have provided opportunity to import food, baby food, fertilizer, energy and electricity, agriculture and other necessary products. We're discouraging products that aren't really needed."
He added, "I hope that we will be able to face the existing challenges in the same way as we did during the Corona period."
"We had to face the challenge of the pandemic in 2020," said Fazle Kabir, adding that "189 bankers had died of Covid-19. At that time the activities of the bank had to be kept active. The banks were in the front row. There have been some losses in tackling the challenge."
Al-Arafah Islami Bank Chairman Selim Rahman presided over the programme, which was attended by the bank's managing director and CEO Farman R. Chowdhury, board members, senior officials, scholarship students and their guardians.
According to the bank, among the meritorious, Al-Arafah Islami Bank is giving scholarships for higher education to 200 meritorious students who have passed the HSC examination every year under its social responsibility programme. As part of this, scholarships are being given to 200 meritorious students who have passed HSC and equivalent examinations in 2019.
