Prevailing irregularities in banking sector harming economy: FBCCI

Irregularities in banking sector’s credit management will continue to keep the overall economy under pressure this year.

Federation of Bangladesh Chambers of Commerce and Industry’s (FBCCI) President Md Shafiul Islam Mohiuddin said it on Monday.

"We, apart from that, have seen irregularities in credit management in the banking sector which is not good for economy," he said.

Rohingya influx and natural calamities like flood last year may also somewhat dent the country’s economic growth, said the apex body’s president.

Mohiuddin, however, feels in spite of all those odds country's GDP will continue to grow in 2018.

"We have witnessed continued growth and there have been success in achieving the targets of Gross Domestic Product (GDP). This growth trend will continue this year, too," said he.

The FBCCI President, while talking to UNB, also said many new entrepreneurs have emerged and there is visible progress over establishment of special economic zones.

"These are good signs. But we need energy supply and improved transportation system. These areas need to be addressed in this year," said Mohiuddin.

Developing an alternative port or augmenting Chittagong port’s efficiency and activities is a big challenge as entrepreneurs are dependent on just one port, added he.