There’s no place for corrupt and inefficient employees in state-owned banks, said Finance Minister AHM Mustafa Kamal.

“It’s not difficult to mark the dishonest employees,” he said on Wednesday (Mar 13) during Janata Bank’s conference at the capital.

“The current government’s weakest point is the banking and finance sector,” he said and pledged to take the GDP to 25 percent from the current 25 percent.

The minister said that it is imperative to find the bank employees who aid dishonest, loan defaulters.

He said that the dishonest businessmen will not be put behind bars if they confess and return the embezzled money. The banking officials, however, won’t be spared.

The finance minister asked the country’s banks to introduce the ‘Blockchain’ technology to reduce operating costs and ensure security.

“We know that automation is essential. The latest technology in the banking sector is ‘Blockchain’. We will have to introduce a comprehensive system instead of small technologies,” he said.

Blockchain is a technology that resembles a large accounting ledger allowing all kinds of data and transactions to be secured, stored and transferred.

He said that the banks must introduce internal control system through to identify any mistake and irregularities and ensure transparency.