Experts at an event on Saturday opined that the country's commercial banks have lost their ability to contribute to the economic growth as because the central bank is failing to play its regulatory role with due efficiency.
They said the decision of merger among banks has also been taken without the necessary preparations and it created an unstable situation in the whole banking community.
The remarks were made at a shadow parliament debate organised by the Debate for Democracy at the city's FDC auditorium.
CPD Executive Director Dr. Fahmida Khatun attended the event as chief guest with Chairman of the Debate for Democracy, Hasan Ahmed Chowdhury Kiron in the chair.
While addressing, Dr, Fahmida said Bangladesh Bank has lost its ability to take decision straight and strictly, rather the regulatory body has been laying importance much more on implementing decision that come from outside.
"Many of the regulatory bodies, including Bangladesh Bank, have been losing their culture of transparency and accountability as a result they are failing to perform their designated duties", Dr. Fahmida added.
She said the whole banking sector is now passing through a troublesome situation moreover new challenges have been added because of the decision of merger without having required preparations.
"The total banking sector has lost ability to contribute to the economy due to the lack of good governance, general people also have lost their trust upon banks, depositors are concerned over the security or safety of the deposited money" Dr. Fahmida added.
Addressing as chair of the session, Hasan Ahmed Chowdhury Kiron said forgery, loan defalcation, money flight are the biggest constraints of banking sector of Bangladesh.
He said the central bank cannot avoid the responsibility of financial sector instability of the country. It has helped banks to turn into family organizations through providing various opportunities.
Kiron said Bangladesh Bank should withdraw all sorts of restrictions for access to Journalists into it's premises.
