Financial sector out of ICU, reforms underway: Adviser

Finance Adviser Salehuddin Ahmed on Monday said Bangladesh’s financial sector, once plunged into a deep crisis by the previous Awami League government, is now on a path toward stability.

Speaking at an event to mark July Uprising Day, he said, “It wouldn’t be wrong to say that we’ve moved from the ICU to the cabin, and are now close to going home.”

Salehuddin acknowledged that a full recovery is still in progress. “Financial reforms require time. Corruption and mismanagement are deeply rooted across institutions, processes, and individuals. However, there are still honest and competent people within the system, and we are driving reforms through them.”

The adviser emphasised that the current administration is temporary and focused on creating a roadmap for long-term economic recovery.

Stressing the need for long-term reforms, Bangladesh Bank Governor Ahsan H Mansur said, “We want to build a financial sector that is no longer vulnerable to collapse. This is not a political claim—it’s a just demand.”

He said, “Several reforms are underway, and though change won’t come overnight, the foundation has been laid.”

The governor added that inflation has dropped to 8% and efforts are being made to bring it down to 3%-5%.

He also called for all banking officials to cooperate in ensuring depositors' safety and achieving qualitative improvements in the sector.

A new Bank Company Act is currently being drafted and has been sent to the Ministry of Finance.

Mansur expressed optimism that the legislation, once passed, will guide the sector back to stability and prevent future authoritarian overreach.

Support for July Uprising martyrs' families

As part of the July Uprising Day observance, the government will provide Tk2 lakh each to the families of 852 gazetted martyrs.

In total, 16,000 families of martyrs and the injured will receive gifts from the Bangladesh Bank and scheduled banks. Some institutions have already begun distributing assistance, with more set to follow on Tuesday.