State-owned banks have fallen behind in the country’s international trade transactions while the private commercial banks have dominated around 74 percent export transaction in 2018, says a study.

The study, conducted by Bangladesh Institute of Bank Management (BIBM) have found that only 7 percent export was done through the state-owned banks while the remaining 19 percent was done through foreign commercial banks.

The report, unveiled during a workshop at the BIBM auditorium on Wednesday (Mar 20), said, In 2011, 71 percent export was through the private commercial banks while 18 percent through the state-owned commercial banks and the rest through foreign commercial banks.

BIBM Executive Committee Chairman and BB Deputy Governor SM Moniruzzaman was present at the workshop as the chief guest while Executive Director of the central bank Sylhet Office Syed Tariquzzaman, former Dhaka University Professor Barkat-e-Khuda and BIBM supernumerary professors Md Yasin Ali and Helal Ahmed Chowdhury addressed the workshop among others.

BB Executive Director and BIBM Director General M Abdur Rahim chaired the program where BIBM Professor and Director (Training) Dr Shah M Ahsan Habib presented the research paper titled “Trade Services Operations of Banks”.

Considering the concerning issues of trade based money laundering, compliance requirements, and other financial crimes, SM Moniruzzaman said, BB has strengthened requirements to enhance the trade quality.

“Our policies are now developing according to market needs and risks. The ‘New Guideline for Foreign Exchange Transaction’ has already been published,” he said.

He said integration between supervisors and the schedule bankers made the policies more operationally effective.

“Introduction of online reporting and monitoring system by the central bank has brought positive changes in terms of decline in irregularities by banks and improvement in data accuracy,” he added.

Professor Barkat-e-Khuda said, “In order to face new challenges in the banking sector, we need to train up more people.

Helal Ahmed Chowdhury said, “The bankers must be watchful so that businessmen cannot show higher prices of products than they really are.”

Senior bank executives, academicians, media representatives, faculty members, officers of BIBM participated in workshop.

The workshop was broadcasted to the Bangladesh Bank (BB) Sylhet office through video conferencing.