Dhaka, Bangladesh (BBN) - Dr Ahsan H Mansur, the newly appointed governor of Bangladesh Bank, today issued a stern warning to those involved in money laundering, stating that they "will not be allowed to sleep peacefully" as they will be held accountable under the law.
"Efforts will continue to recover laundered money. We will coordinate with the government to stop money laundering, leveraging both national and international laws," Mansur told reporters shortly after taking charge of the central bank.
Addressing the country's pressing economic issues, Mansur identified high inflation and the foreign exchange reserve crisis as the two "headline challenges" facing the economy.
"Bangladesh Bank's central responsibility is to control inflation," he emphasized on his first day in office.
Dr. Mansur, who brings nearly three decades of experience at the International Monetary Fund, succeeded Abdur Rouf Talukder, who resigned last week amid protests.
Acknowledging the central bank's own weaknesses in light of the current economic situation, Mansur pledged transparency and accountability.
"There is no longer any scope to keep central bank reports or audit findings in the drawer. Data manipulation will not be tolerated," he declared.
He also committed to uncovering the true state of the banking sector, noting that defaulted loans in many banks are likely much higher than reported. "These figures can no longer be kept secret," he said.
Mansur pointed to governance failures as a major issue in the banking sector, describing the central bank's moral responsibility as the custodian of the sector.
He highlighted that eight banks have been dominated by a specific group responsible for loan irregularities.
The new governor also stressed the importance of addressing inflation and rebuilding foreign exchange reserves.
While acknowledging that the twin crises may not be fully resolved within a year, Mansur pledged to "normalize the situation as soon as possible" through the highest level of effort.
BBN/AN/AD