We don't have any functional institutions: Prof Rehman Sobhan
Pointing out the inequality in the country’s banking system, he stated, “If you go to the banking system, who gets the loan rescheduled, who gets the loan written off, who can carry on defaulting?
Bangladesh does not have any functional institutions, eminent economist and the Founding Chairman of Centre for Policy Dialogue (CPD) Professor Rehman Sobhan said today (18 April).
"We are taking development forward, but there are gaps and continuing weaknesses of our institutions. This is a very central element," he said at the launching event of the book "Fifty Years of Bangladesh: Economy, Politics, Society and Culture" he co-authored in Dhaka at the CPD office.
Speaking about the country's judicial system, he said, "Is this functioning in a way that gives equal rights to everyone? If you go to the police to file a case, will they treat everyone in the same way?"
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Similarly, pointing out the inequality in the country's banking system, he stated, "If you go to the banking system, who gets the loan rescheduled, who gets the loan written off, who can carry on defaulting?
"We don't have any functioning institutions. It's the same case with the Election Commission and the Anti Corruption Commission."
Further speaking about the banking system, he said, "We are looking at an advanced stage of deterioration in the banking system. It has turned into a serious structural crisis now."
The economist stated that the tax-default is now at the centre of the governance crisis.
The book "Fifty Years of Bangladesh: Economy, Politics, Society and Culture" was published by Routledge, London, in November 2023. The event was organised by the CPD.
