President Mirza Fakhrul Islam Alamgir on Thursday called on bank owners and bankers to work devotedly to restore public confidence in the country’s banking system.

The President made the call when a delegation of the Bangladesh Association of Banks (BAB), led by its President Abdul Hai Sarker, paid a courtesy call on him at Bangabhaban this afternoon, according to President’s Press Secretary Md. Sarwar Alam.

The delegation comprised chairmen, managing directors, and chief executive officers of 26 state-owned and private banks.

"When we were struggling for democracy and good governance, unfortunately hundreds of thousands of crores of Taka were siphoned off from the country with the support of powerful people. As a result, the banking sector has become extremely fragile. To overcome this situation and restore the confidence of customers in the country’s overall banking system, everyone must work responsibly," he said.

The President expressed hope that banks would be able to overcome the fragile situation within a short time through sincere efforts by the government and all concerned.

"During the previous fascist rule, control of the banks was taken and shares were forcibly acquired by using influence of the intelligence agencies," he lamented. "No political person is being appointed as a director of any bank by the present government. This initiative will play a positive role in curving irregularities in the country’s banking sector," he hoped.

The President also urged bank owners to spend money from corporate social responsibility (CSR) funds for social development and public welfare.

He called upon the leaders to ensure loan facilities for new and young entrepreneurs and encourage investment in various innovative sectors, including agro-processing industries.

During the meeting, the leaders stated that the banking sector is the main driving force of the country’s economy.

However, as powerful groups siphoned off money from banks in the past, thousands of crores of Taka have turned into defaulted loans.

Their inability to protect the interests of depositors is humiliating for them, they said.

The leaders stressed increasing employment in the banking sector, opening rural branches of banks, maintaining the existing rules regarding paid-up capital, regular payment of dividends, and ensuring law and order.

They also apprised the President of the current problems, challenges, and prospects of the banking sector. The President’s secretaries were present during the audience.