Interim Government’s Finance and Commerce Adviser Dr. Salehuddin Ahmed has warned that increasing the profit rates on savings certificates could discourage people from keeping their money in banks, potentially affecting liquidity in the banking sector.
“If the return on savings certificates goes up, people will prefer buying those instead of depositing money in banks,” he said. “Banks rely on liquidity. We have to maintain a balance. If savings certificates are sold excessively, where will banks get the money from?” he questioned.
Dr. Salehuddin made the remarks on Saturday afternoon while responding to questions from reporters following a views-exchange meeting with government officials at the Nabinagar Upazila Parishad Auditorium in Brahmanbaria.
Addressing the ongoing efforts to stabilize the country`s banking sector, he said, “Bangladesh Bank is trying to rehabilitate underperforming banks. Islami Bank is one such example, and public trust is gradually returning to it.”
He further added that a Bank Resolution Act has been introduced to protect depositors’ money. “The first commitment under this act is that those who deposit money in banks will get it back. No one will lose their money,” he assured.
However, he acknowledged that restoring the system will take time. “It may take a while, as a lot of money has already been taken out by some. Such incidents are rare even globally,” he added.
Speaking about the current unrest within the National Board of Revenue (NBR), the adviser said discussions are ongoing to resolve the issues.
“We are in dialogue with them and will take necessary steps through mutual understanding. A five-member strong committee has already been formed to address the matter,” he said.
Also present at the event were Brahmanbaria Deputy Commissioner Mohammad Didarul Alam, Nabinagar Upazila Nirbahi Officer Rajib Chowdhury, and Additional Superintendent of Police (Nabinagar Circle) Piyas Basak, among others.
