The Deep Wounds of Bangladesh’s Financial SystemBy Asif Showkat Kallol (Dhaka Bureau)The banking sector forms the bedrock of a nation’s financial architecture, relying fundamentally on public trust and the security of savings. However, political patronage, lax regulatory oversight, and unchecked ownership by industrial conglomerates have pushed Bangladesh’s banking sector into a profound crisis. Starting with six state-owned banks after independence, Bangladesh witnessed rapid expansion of the private sector in the 1990s. Governance concerns deepened significantly in 2013 when nine new private banks were licensed despite central bank reservations regarding sector capacity. The current turmoil in the banking sector is not merely an economic issue; it represents a direct threat to public confidence and social stability.