Financial sector governance reforms need policy continuity over next 1-3 years: PRI
Dr Moyeen, a BNP Standing Committee member and former minister of economic planning, information, and ICT, warned that Bangladesh’s export performance lags behind competitors due to ineffective tariff negotiations.

The measures and policies taken to restore good governance in Bangladesh's financial sector will require continuity and political commitment over the next one to three years, said Dr Ashikur Rahman, principal economist at the Policy Research Institute (PRI).
He made the statement at the Monthly Macroeconomic Insights (MMI) session held at PRI's conference room today (24 July). The event was organised by PRI's Centre for Macroeconomic Analysis (CMEA) in collaboration with the Australian Government's Department of Foreign Affairs and Trade (DFAT).
Dr Ashikur further stressed the need for the next elected political government to demonstrate "unfettered commitment" to the broader vision of restoring discipline and governance in the banking sector.
The session was chaired by PRI Chairman Dr Zaidi Sattar, with former minister Dr Abdul Moyeen Khan attending as chief guest.
Dr Moyeen, a BNP Standing Committee member and former minister of economic planning, information, and ICT, warned that Bangladesh's export performance lags behind competitors due to ineffective tariff negotiations.
"Bangladesh's export trade heavily depends on effective tariff policies with the United States; but the country lags behind its competitors in securing favourable agreements," he said, highlighting that building trust within governments is crucial for achieving long-term stability.
He also cautioned against governing the state like an NGO or corporate body.
"If the government is run like an NGO or a corporate entity, it will lead to issues. The government and NGOs are not the same," he said. "NGOs work with a segment of the population, not with everyone, while corporate institutions aim for profit. If one believes in democracy, the opinions of all citizens must be taken into account."
Commenting on the foreign exchange rate, Dr Moyeen questioned Bangladesh Bank's effort to prevent the taka from appreciating against the dollar.
"For the first time, I've seen the dollar being devalued against the taka. But why is Bangladesh Bank trying to prevent this devaluation? A stronger taka would improve our ability to repay debt," he noted.
He also criticised the injection of printed money to support weak banks.
Speaking on the issue of reforms, the former minister said, "We have been working on reforms since two years before last July. It is an ongoing process."
Dr Khurshid Alam, executive director of PRI, opened the session by highlighting revenue generation as one of Bangladesh's key structural challenges.
He pointed out that reforms, especially the separation of policymaking from implementation at the National Board of Revenue (NBR), are still a work in progress.
In the keynote address, PRI Chairman Dr Zaidi Sattar stated that Bangladesh's economy remains investment-driven rather than consumption-led.
"A slowdown in private credit growth, reduced imports of capital machinery, and weaker investment – now at about 29% of GDP – are contributing to slower GDP growth, though the macroeconomic framework remains broadly stable," he said.
He also emphasised that Bangladesh has been exporting to the US on the basis of comparative advantage in labour-intensive products such as RMG and footwear and relying on that is no longer sufficient.
"We need a competitive trade deal with the US. If our competitors secure better trade terms, our global competitiveness will be at risk. This is a pressing challenge we must address," he said.
Australian Deputy Head of Mission to Bangladesh Clinton Pobke, who attended as a special guest, said the MMI event "serves as a bridge to understanding complex economic issues and engaging with them effectively".
Present as a panelist, Dr Muhammad Abdul Mazid, former NBR chairman, echoed concerns about Bangladesh's limited fiscal space.
"Reforms in tax policy, debt management, and GDP calculation are essential, even if painful," he said. "Without a clear separation between policymaking and implementation within the NBR, meaningful progress will remain out of reach."
The session concluded with an open-floor discussion on inflation, monetary policy, and the digitalisation of the revenue system.