Bangladesh Bank Governor Dr Atiur Rahman hands over a crest to M Abdul Mannan, Managing Director of Islami Bank Bangladesh Limited, at a function organised by the Centre for Non Resident Bangladeshis (NRBs) at a hotel in Dhaka on Saturday. US Ambassador to Bangladesh Dan W Mozena is also seen. Sun photo

Bangladesh Bank governor Dr Atiur Rahman on Saturday said having a good forex reserve is not a matter of concern or disappointment as he surplus will be used during ‘rainy days’.

“I’m sure investment will pick up soon and the surplus reserve will be used properly. But there’s no room for complacency as we need more foreign reserves if we compare it with India’s size of reserve,”

he said.
Despite being a trade deficit country, Atiur said, Bangladesh enjoyed a positive balance in current account during the last five years, particularly due to continuation of impressive growth in remittances.

“Aided by robust growth in exports and remittances, and moderate growth in imports, foreign exchange reserve in Bangladesh is now more than US$ 16 billion. This demonstrates our strength. In a decade, literally, it has become double,” said the BB governor.

The central bank chief was addressing a function in the city as the chief guest.

Centre for Non Resident Bangladeshis (NRBs) arranged the event, titled ‘Recognition of NRBs and Supportive Organizations in Bangladesh’, at Sonargaon Hotel with its chairperson MS Shekil Chowdhury in the chair.

US Ambassador Dan Mozena, President of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) Kazi Akram Uddin Ahmed,

Dhaka Chamber of Commerce and Industry (DCCI) President M Sabur Khan, Islami Bank Bangladesh Limited Managing Director M Abdul Mannan,

Managing Director and CEO of Pubali Bank Ltd Helal Ahmed Chowdhury, MD and CEO of NCC Bank Nurul Amin and a good number of NRBs spoke on the occasion.

The central bank chief said despite adverse impact from global economic crisis and political turmoil in the Middle East, the inflow of remittance maintained a healthy growth.

“Financial and external sector of Bangladesh remained resilient in the face of recent global financial crisis and economic slowdown mainly for these inflows,” he added.

On NRB’s role, he said the contribution of NRBs has been at the heart of policy framework in Bangladesh’s mission of becoming a middle-income country within the next few years. —UNB