Finance sector remains vulnerable: Wahiduddin Mahmud

Wahiduddin Mahmud, a noted economist and former adviser to a caretaker government, said that the finance sector is the most sensitive sector for the economy, yet this sector remains defenceless due to irregularities, corruption and lack of management. 

"Unfair advantages were given to several quarters who are related to politics. In situations such as this, management of the economy collapses, the environment to invest is disrupted and investors are discouraged. Therefore, to improve the situation, some sectors including the financial sector should be kept away from politics," he said. 

The economist made the remarks while speaking at a discussion on the proposed budget for the fiscal year 2024-25 at the Pan Pacific Sonargaon Hotel in Dhaka on Monday. The Editors' Council and the Newspaper Owners' Association of Bangladesh (Noab) organised the event. 

He added, "The country has entered an unethical financial system. Smart Bangladesh was mentioned in this budget. But if smart people are devoid of ethics, the outcome will be even worse."

Fahmida Khatun, executive director of the Centre for Policy Dialogue (CPD), Hossain Zillur Rahman, executive chairman of the Power and Participation Research Centre, Salehuddin Ahmed, a former governor of the Bangladesh Bank, and Ahsan H Mansur, executive director of the Policy Research Institute of Bangladesh, also spoke at the event.