Nation leaning too much towards consumerism: BB governor
Sunday, 27 April 2008

HTML clipboardBangladesh Bank governor Salehuddin Ahmed has said the country is leaning too much towards a consumer society, and the affluent spend too much on luxuries instead of aiding the poor, reports agency.

He asked banks and major companies Saturday to start directly benefiting society instead of concentrating only on profit, in view of the added hardships being faced by the poor.

Speaking as chief guest at an award ceremony organised by the Bankers' Forum at CIRDAP auditorium in the city, Salehuddin said: "Banks, financial institutions and corporate houses will have to conduct their activities now in a way that benefits the ultra poor sections of society."

"They should do this as part of their social responsibility." Describing his recent visit to the northern region, the central bank governor said: "The banks are not investing to help the vulnerable people of monga-affected areas such as Rangpur.

That is why no employment opportunity has been created there, no development has occurred." The governor said he had a meeting with chief executives of banks working in the monga-hit areas where he urged them to invest more for the development of deprived sections of society.

Salehuddin said: "I don't know why we are leaning so much towards consumerism. I have many friends who spend money unnecessarily on staying in five star hotels and such."

"We must come out of this mentality. The affluent will have to come forward in aid of the poor. We will have to work for the good of the people."

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