Unnayan Onneshan concerned over financial sector

Independent think-tank Unnayan Onneshan has expressed concern that the country’s financial sector is  facing multifarious problems, particularly high rate of interest, excess liquidity and decline in the growth of credit flow to the private sector. In its latest monthly economic update, the multidisciplinary think-tank also noted that high fraudulence due to lax oversight is resulting in truncated profits to shareholders. It observed that politically determined directorship for the state-owned banks as well as nepotism in the appointment of directors of boards of private financial institutions are hindering the maintenance of any prudential system of management in the sector, according to a news agency.