Most banks getting rid of foreign currency crisis: ABB

Association of Bankers, Bangladesh Limited (ABB) has informed that many banks are now regular in foreign payments as foreign currency crisis in the country has eased compared to earlier.

Chairman Selim RF Hussain said this while addressing a press conference on "Bangladesh Banking Sector Outlook 2023" at BRAC Bank head office in Dhaka on Monday.

He said, “The foreign currency crisis in the country has eased to some extent compared to the previous year. However, the situation is yet to get back to complete normalcy.”

Among others, ABB Managing Director & CEO of City Bank Limited Mashrur Arefin, Managing Director & CEO of Dutch-Bangla Bank Limited Abul Kashem Md. Shirin and Managing Director & CEO of First Security Islami Bank Limited Syed Waseque Md. Ali also spoke on the occasion.

Selim RF Hussain said the foreign correspondent who withdrew the limit before are now coming back as they are satisfied with the country's current state.

Mashrur Arefin, also vice chairman of the ABB, said net opening position of dollar holdings of banks turned to positive from the negative trajectory as remittance inflow and deposit is increasing.

"Besides, the dollar rate is now higher in the formal and informal markets, which means the banking sector has returned to stability," he added.

"The Bangladesh Bank's intervention helped to stabilise the market," he said.