Address banks' issues to continue Bangladesh's dev journey: Qazi Kholiquzzaman

The development model achieved by Bangladesh is unique in the world, despite the country facing various challenges such as geographical limitations and a high population, said Dr Qazi Kholiquzzaman Ahmad, chairman of Palli Karma Sahayak Foundation (PKSF).

However, he said that there are certain issues in the country's banking sector that must be addressed to ensure the continuity of the development journey and to achieve the goal of Bangladesh Vision 2041.

He highlighted that the amount of bad loans in banks across Bangladesh is on the rise. Additionally, there have been cases of bank money being smuggled.

During a round table discussion titled "World's Enthusiasm for the Development of Bangladesh," which was organised by the Editors Guild at the Dhaka Gallery in the capital on Saturday, the prominent economist also said that the sustained development progress in Bangladesh is largely attributable to the long-term political regime in the country.

He further added that despite other countries such as Sri Lanka and Zimbabwe also had long political regimes, they have not been able to achieve similar levels of development as Bangladesh, making the country unique in this regard.

The economist noted that one of the significant geographical challenges facing Bangladesh is its 710-kilometre coastal area, which is inherently dangerous. Additionally, Bangladesh is situated under the basin of three large rivers.

He also pointed out that the high population in Bangladesh poses a significant challenge to development.

However, the government has effectively addressed this challenge by ensuring people's participation in development through proper planning, he said.

Abul Hasan Chowdhury, former state minister for foreign affairs, Abul Kalam Azad, former chief secretary of the Prime Minister's office and former chief secretary of SDG affairs, Professor Dr Imtiaz Ahmed, international relations analyst, Mohammad Abdur Razzaq, chairman of Research and Policy Integration for Development were also present at the event.

Abul Hasan Chowdhury, former state minister for foreign affairs, highlighted Bangladesh's significant success in social and economic development over the past 14 years.

He noted that the country transitioned from a low-income to a lower middle-income country in 2015, fulfilling the World Bank's criteria, and has consistently met all the conditions of transition from a least developed country to a developing country as per the United Nation's criteria in the review from 2018 to 2021.

Bangladesh is also one of the fastest-growing economies in the world, he added.

Abul Kalam Azad, former principal secretary of the Prime Minister's Office, further remarked that Bangladesh has surpassed neighbouring India and Pakistan in per capita income and most of the social indicators.

The country has made great strides in achieving the Millennium Development Goal and has made outstanding achievements in poverty alleviation, he maintained.

According to Professor Dr Imtiaz Ahmed, an international relations analyst, Bangladesh's socio-economic development has greatly improved over the last two decades under the current government's regime.

Citing the latest global research by Hong Kong Shanghai Banking Corporation - HSBC, he stated that Bangladesh is expected to become the 26th largest economy in the world in terms of gross domestic product (GDP) by 2030, up from 42nd currently.

Nayeemul Islam Khan, emeritus editor of the daily Our New Time, further attested that Bangladesh's economic and social indicators have received praise even from its biggest detractors.

Economists note that Bangladesh's achievements in 50 years are remarkable, and the country has shown what the world could not imagine, he concluded.

Editors Guild President Mozammel Babu moderated the round table.