The governor of the central bank of Bangladesh has voiced his concerns over the trend for banks in developed countries to terminate correspondent banking relations with banks in less developed countries.

Governor of Bangladesh Bank, Dr Atiur Rahman, expressed his concerns during the annual general meeting of the Bank for International Settlements held recently in Basel, Switzerland.

Call for action

Rahman is calling on the governors of central banks in the developed world to extend their help and cooperation in reversing the so-called de-banking trend that has become evident in some quarters of the global financial system.

He also said that the World Bank and the IMF should play a role maintaining banking correspondent banking networks.

Risk reduction

The governor added that Bangladesh has been working hard to reduce money-laundering risk.

Rahman has also participated in the Steering Committee of the Alliance for Financial Inclusion.