Bangladesh Association of Banks (BAB) Chairman Abdul Hai Sarker has questioned the necessity of having over 60 banks in the country, given the size of its economy.
“Does Bangladesh really need more than 60 banks?” Sarker, who also chairs Dhaka Bank, said during a media interview. “Previously, the country had just four or five state-owned banks. Later, four private commercial banks were allowed in the first phase, followed by ten more in the second. But licenses kept being issued.”
He criticised the previous government for granting banking licenses based on political considerations rather than economic needs.
“Many of these approvals were politically motivated. If business groups need internal financial arrangements, they can form cooperatives. Banks are not playthings, they are serious financial institutions,” he said.
Bangladesh currently has 62 banks, in addition to over 100 non-bank financial institutions and several foreign bank branches.
Emphasising that customer trust is the most vital asset for any bank, Abdul Hai Sarker said, “If customers lose trust, banks will collapse. No amount of capital injection can restore that trust. Earning and retaining customer confidence must be the top priority.”
LND/SAE
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