Staff Reporter
Rtnn: Business leaders and economists have warned against forced merger between weak and strong banks.

Speaking at a pre-budget discussion in the capital on Sunday (10 March), Aftab ul Islam, former president of the American Chamber of Commerce in Bangladesh, said, "There is fear and confusion among people about the merger of banks centring what kind of problems will arise if there is a merger with a weak bank.

In the meeting, General Secretary of Bangladesh Economic Association Dr Aynul Islam also said there has been panic among the people regarding the merger of the banks.

Finance Minister Abul Hassan Mahmood Ali, also present at the "Pre-Budget Discussion 2024-25", said the next budget will be encouraging for the private sector.

Among others, National Board of Revenue (NBR) Chairman Abu Hena Md Rahmatul Muneem, Bangladesh Bank deputy governor and other business leaders also attended.

AK Azad, former president of the Federation of Bangladesh Chambers of Commerce & Industries, demanded disclosure of names of willful defaulters and those who've taken the money abroad rather than investing it in their businesses.

He said, "If their [defaulters] names are disclosed, they will come under social pressure and will be forced to pay the money."

Azad, also a current member of parliament, said, "Why should Sonali Bank and Rupali Bank be subsidised with taxpayers' money?"

Addressing the finance minister, he said, "Banks are saying the dollar is Tk109, but we are buying it at Tk124. The NBR is collecting tax on our imported goods at Tk124."

The meeting, organised by the Dhaka Chamber of Commerce & Industry, was chaired by its President Ashraf Ahmed.