Economic Reporter :
Bangladesh Bank Governor Fazle Kabir on Monday underscored the need for coordinated steps to face newer challenges in financial sector for sustaining the economic growth and maintaining stability in price level.
“If international markets face any unfavorable situation due to further globalisation and inter-connection, the situation will also be a source of country’s financial volatility,” the governor said while addressing a programme with BB officials and chief executives of banks and financial institutions on Monday.
The programme was organised at the central bank Headquarters to launch BB’s annual “Financial Stability Report 2015”.
Fazle Kabir also advised the banking sector to strengthen efforts to tackle the cyber risk as cyber risk has been creating a new worries globally.
The central bank has already taken many steps including financial projection model, interbank transaction matrix, bank health index, contingency planning and bank resolution framework to know the real stability of the banking sector, he added.
The governor also said BB has already introduced Domestic Systemically Important Banks (D-SIBs) and Risk Management Guidelines which will play effective role to stable financial sector and measure the financial risks.
“The borrowers and banks are providing accurate information through CIB-online,” he added.
The governor mentioned that BB has introduced Central Database for Large Credit (CDLC) for monitoring further the large loan and building a developed credit culture in the country.
He also said BB is monitoring and researching on credit utilization and real estate price index for credit risk management properly.
Among others, BB Deputy Governor Shitangshu Kumar Sur Chowdhury and Association of Bankers, Bangladesh (ABB) Chairman Anis A Khan spoke on the occasion.
SK Sur Chowdhury said “Like earlier editions, we tried to include new ways to look at different issues of our financial system and to inject new ideas in FSR 2015.”
He expressed the hope that the stakeholders will get deep insights regarding the stability of the financial system from this report.
Bangladesh Bank Governor Fazle Kabir on Monday underscored the need for coordinated steps to face newer challenges in financial sector for sustaining the economic growth and maintaining stability in price level.
“If international markets face any unfavorable situation due to further globalisation and inter-connection, the situation will also be a source of country’s financial volatility,” the governor said while addressing a programme with BB officials and chief executives of banks and financial institutions on Monday.
The programme was organised at the central bank Headquarters to launch BB’s annual “Financial Stability Report 2015”.
Fazle Kabir also advised the banking sector to strengthen efforts to tackle the cyber risk as cyber risk has been creating a new worries globally.
The central bank has already taken many steps including financial projection model, interbank transaction matrix, bank health index, contingency planning and bank resolution framework to know the real stability of the banking sector, he added.
The governor also said BB has already introduced Domestic Systemically Important Banks (D-SIBs) and Risk Management Guidelines which will play effective role to stable financial sector and measure the financial risks.
“The borrowers and banks are providing accurate information through CIB-online,” he added.
The governor mentioned that BB has introduced Central Database for Large Credit (CDLC) for monitoring further the large loan and building a developed credit culture in the country.
He also said BB is monitoring and researching on credit utilization and real estate price index for credit risk management properly.
Among others, BB Deputy Governor Shitangshu Kumar Sur Chowdhury and Association of Bankers, Bangladesh (ABB) Chairman Anis A Khan spoke on the occasion.
SK Sur Chowdhury said “Like earlier editions, we tried to include new ways to look at different issues of our financial system and to inject new ideas in FSR 2015.”
He expressed the hope that the stakeholders will get deep insights regarding the stability of the financial system from this report.
