The government has approved the Bank Resolution Ordinance on Thursday to stop looting of bank fund and restore discipline in the financial sector. The move comes after a powerful industrial group monopolized multiple banks and siphoned off depositors' money.
Speaking to reporters at the Foreign Service Academy, Adviser Syeda Rizwana Hasan said the ordinance will secure public deposits and punish financial criminals. A special committee will investigate and prosecute offenders. The decision was finalized during an Advisory Council meeting chaired by Chief Adviser Prof Muhammad Yunus at his Tejgaon office.
Alongside the banking reforms, the council also cleared ordinances on revenue policy, Grameen Bank amendments, and judicial modernization. Outdated court procedures will be scrapped-verdicts will now include execution orders, eliminating separate rulings. Notices will be sent via SMS, phone calls, email, and WhatsApp to speed up trials.
Rizwana emphasized that the new Grameen Bank law will strip past political control, redesignating it as a public-interest institution. The previous government had weaponized the bank to target Dr Yunus, she said.
The reforms aim to end corporate exploitation of banks, protect depositors, and overhaul sluggish legal processes. Strict enforcement will follow.
