Economic Reporter :
Finance Minister Abul Maal Abdul Muhith Tuesday said the government has taken various measures for operating the state-owned commercial banks (SOCBs) profitably.
“The government has taken a range of steps to ensure discipline meaning run the state-owned commercial banks profitably,” he said while replying to a written query from treasury bench member Begum Laila Arjuman Banu (women seat-8) in the House.
The steps, he said, include reorganising the board of directors of the SOCBs, signing and supervision of the Annual Performance Contract with them, amendments to The Bank Company Act, 1991 and The Anti-Money Laundering Act,2012.
Muhith said the activities of the banks are being regularly supervised through Bangladesh Bank, the finance ministry and the Bangladesh Security and Exchange Commission.
The minister said a memorandum of understanding (MoU) is being signed with the SOCBs except the BDBL every year for boosting their “operational efficiency”, and Bangladesh Bank is regularly supervising the issue of achieving “target” of the MoU.
As per the directives of the central bank, he said, those banks have already framed the credit policy, internal control and compliance policy and the liquidity risk management policy.
Muhith said directives have been given to the SOCBs for following and regularly monitoring the “risk management guidelines” properly.
Besides, he said, the SOCBs have been directed to strengthen the “internal control and compliance department”, and the central bank is regularly monitoring it.
The minister said a plan has been undertaken for execution of the core banking solution (CBS) in all branches of the SOCBs by this year.
As per the plan, he said, the progress on the CBS implementation is being regularly monitored.
