CPD for introducing integrated financial system

Center for Policy Dialogue (CPD) today laid emphasis on introducing an integrated financial and transaction system combining all kinds of financial and banking operations among the banks, NBFIs, stock exchanges, foreign exchange dealers, and land and other asset related offices.

The think tank also suggested that public procurement system should be thoroughly revised both at pre-procurement and post-procurement levels, revising the existing e-procurement system, harmonizing with international standards, engaging citizen’s in all public procurements and engaging citizens in project implementation.

CPD made the suggestions at a media briefing on “Bangladesh Business Environment Study 2023: Findings from the Executive Opinion Survey” at CPD office in the city.

CPD Research Director Dr Khondaker Golam Moazzem briefed the journalist about the outcome of the survey.

In his speech, Khondaker Golam Moazzem said all public offices should immediately announce their 100-day, one-year, three-year and five-year plan of action based on the political commitments.

This announcement should be made public as well as available in their websites, he added.

He said all action plan should be “outcome-oriented, time-specific, proper delegation of responsibilities and monitor able”.

Moazzem also mentioned that the government should take initiative for setting up an independent office of Ombudsman or Ombudsperson with proper legal, institutional and operational responsibilities and facilities.

All public offices should introduce an office of Ombudsman or Ombudsperson to address the governance related issues, he added.

He also laid emphasis on setting-up short-term commissions for banking, stock market and financial sector reform and take measures according to their suggestions.

He recommended setting-up office for regulatory, institutional and operational reforms that affect the operations of the businesses.

He called for strengthening public offices which has a role in market competition: Competition Commission, Securities and Exchange Commission, Financial Reporting Commission, Financial Integrity and Customer Services Department, Financial Intelligence Unit etc. (BSS)