Action being taken against corrupt individuals, not institutions: Prof Mustafizur
Money laundered under political patronage, he says
Action is being taken against corrupt individuals, not institutions, Professor Mustafizur Rahman, a distinguished fellow of the Centre for Policy Dialogue (CPD) said today (24 August).
"There is no reason for businesses to be concerned if authorities ask for financial details of industrialists. Action is being taken against corrupt individuals only rather than institutions," he said while speaking at the shadow parliament event organised by Debate for Democracy held at Dhaka's FDC.
"There is no need for depositors to worry as banking sector reforms are underway," he added.
Keep updated, follow The Business Standard's Google news channel
Debate for Democracy Chairman Hasan Ahmed Chowdhury Kiron presided over the event.
The distinguished fellow of the CPD further pointed out that political patronage in the past led to money laundering from banks, and the amount of non-performing loans has increased.
He emphasised that the political government must take responsibility to ensure that the ongoing reforms in the banking and other sectors initiated by the interim government are sustainable.
"Young people must continue to act responsibly in the future to benefit from The Anti-Discrimination Student Movement," he added.
At the event, Debate for Democracy Chairman Kiron stressed the need to stop the bleeding in the financial sector and called for visible punishment for loan fraudsters and money launderers by bringing them under the justice system.
"The upcoming white paper on the financial sector by the government would disclose all financial irregularities and corruption," he added.
In the shadow parliament titled "Political Goodwill Can Ensure Good Governance in the Financial Sector," organized by Debate for Democracy, the team from Bangladesh University triumphed over their counterparts from BGMEA University of Fashion and Technology.
Professor Abu Muhammad Rais, Dr SM Morshed, Professional Accountant Md Abdus Sattar Sarker, Journalist Delot Akhter Mala, Journalist Iqbal Ahsan were the judges of the competition. At the end of the competition, the champion team was given a trophy, crest and certificate.
