Corruption the main enemy

Corruption is a pervasive problem in Bangladesh, severely undermining the nation's growth and development. It diverts public funds intended for infrastructure, education, healthcare, and social welfare into private pockets, resulting in shoddy development work. Businesses face increased operational costs due to bribery and bureaucratic delays, discouraging both local and foreign investments. Corruption also weakened the public institutions, leading to poor service delivery in critical sectors and fostering widespread inequality, as the most vulnerable are often unable to pay for access to essential services.

The economic impact of corruption has extended to government revenue and overall financial stability. Tax evasion and illicit financial flows, fueled by bribery and weak oversight, deprive the government of crucial funds needed for development. In sectors such as banking and public procurement, corruption exacerbates inefficiency and mismanagement, as resources are allocated based on favouritism rather than merit. The lack of transparency and accountability deters foreign direct investment, reducing opportunities for job creation and economic diversification, which are vital for sustainable growth.

Md. Kasfee Hoque

Student

North South University

kasfee.hoque@northsouth.edu