The minister, however, observed setting up a special tribunal for the banking sector will be an uphill task
The government has taken an uncompromising stance on realising defaulted bank loans but it cannot recover the non-performing loans immediately as there are procedural tangles, said Planning Minister MA Mannan.
The minister also said though setting up a special tribunal for the banking sector is being considered, it will be an uphill and complicated task.
"Rather the government is mulling to recover the defaulted and embezzled amounts through speedy trials with the existing laws," MA Mannan told a shadow debate contest in Dhaka Friday.
The minister said both growth and plunder are continuing simultaneously. We take pride in the economic development, but not in the health of the banking sector.
He said, "Though the country has made tremendous achievements in infrastructures, per capita income, economic growth, electricity coverage and literacy rate, scams in the banking sector is a blot for us."
"Manipulation in the banking sector is widening up income inequality," Minister Mannan observed.
"Forming a bank commission could be a timely measure though policymakers have arguments over it. For establishing good governance in the financial sector, trust, accountability, and confidence do not have any alternatives," he added.
The debate was held on the topic to form a banking commission for good governance in the sector. Debate for Democracy Chairman Hassan Ahamed Chowdhury Kiron presided over it. Professor Dr Riazur Rahman Chowdhury from Dhaka University's accounting department and Tofail Ahmed, accounting alumni association general secretary, were also present.