Bangladesh to attain double-digit growth in 4 years: FM

Finance Minister AHM Mustafa Kamal on Monday said he is optimistic that the country will achieve double-digit GDP growth within the next four years. 

“Achieving double-digit growth will be possible if we all work together,” he said at the annual conference of Sonali Bank at the Institute of Diploma Engineers, Bangladesh in the capital.

The minister said Bangladesh’s current GDP growth is 8.13 percent and per capita income is $1,909. “Bangabandhu could not achieve his goal but his daughter Sheikh Hasina is expected to build a ‘Sonar Bangla’ by 2041,” he said.

“Bangladesh will able to bring poverty level down to zero by 2030. It will obtain the 30th economic position in the world and overtake Australia, Singapore and Malaysia,” he added.

‘Iconic bank’

Sonali Bank Chairman Md Ashraful Mokbul said they have moved away from big loans after the Hall mark scam. “We’re now focusing on SME,” he said.  

“The bank’s operating loss was Tk495 crore in 2016. Now, we have taken second position as profitable bank after Islami Bank. We want to take the first position,” Mokbul said. 

Bangladesh Bank Governor Fazle Kabir described Sonali Bank as an “iconic bank”. “So, you have more responsibility,” he told the conference. 

“The bank made good profits last year but it has huge provision deficit. All of you have to work with cordiality,” he said.

He suggested the bank to attempt resolving cases. “Loans should be used properly and credit quality should be ensured. Utilise modern technology,” he told the bank officials. “We should also ensure good governance.”

Source: unb