Public Service Day

Banking sector plagued by scam: UN

MNA Business Desk: The banking sector in Bangladesh has been plagued by financial scams, non-performing loans and weak monitoring problems, which might cause a macroeconomic risk in the near term, says a UN report.

The report says, robust growth has been supported by domestic demand, especially large infrastructure projects and new initiatives in the energy sector, reported news agency.

Remittance flows have also started to increase with the increase in global oil prices, according to the Economic and Social Survey of Asia and the Pacific 2018.

Mobilising financing for development remains a fundamental priority in the Asia-Pacific region, said the report.

The robust growth registered by the region in 2017 and forecast to continue this year provides the opportunity to meet this objective, according to a major United Nations report launched in Bangkok on Monday.

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