Some banks are recovering well and others may continue to struggle, but no bank will be closed, financial advisor Salehuddin Ahmed said today (November 19).

“Corrections are being made to address negative syndromes in the banking sector. Islami Bank, the largest bank, is recovering. The caretaker government has no intention of closing banks,” he said during a press conference in the conference room of the Ministry of Finance. at the secretariat in Dhaka.

He said one of the main objectives of the caretaker government was to stabilize the banking sector and restore lost confidence while ensuring protection of depositors.

Stressing that honest businessmen have no reason to be afraid, the financial advisor said those who repay their loans properly and pay their taxes will not face any problems.

“Those who exploited various loopholes during the previous government’s tenure are the ones who are afraid today,” he said.

Speaking at the press conference, Secretary of the Financial Institutions Division Nazma Mubarak said prompt measures would be taken to ensure that weak banks, currently unable to return depositors’ money, could return this money.

Salehuddin also focused on fiscal management, saying steps were being taken to reduce public spending. “The salaries and allowances of civil servants will not be impacted,” he assured.

Referring to the annual development program, he mentioned that projects deemed unnecessary or influenced by political considerations are being examined for possible adjustments.

Finance Secretary Muhammad Khairuzzaman Mozumder, Secretary Economic Relations Division Md Shahriar Kader Siddiqui and Chairman National Board of Revenue Md Abdur Rahman Khan were also present in the press conference.