According to Bangladesh Bank, the ongoing dollar crisis is not expected to last long as they will take measures to let the market dictate the greenback’s exchange rate.
But there is a difference between banks making profits and businesses making profits. They [banks] have to maintain many responsibilities and regulations. Encouraging sustainable banking for promoting sustainable growth became particularly crucial in this circumstance where adoption of technology became a necessity. With the evolution of technology, the entire industry has undergone a massive transformation that has changed the way financial procedures are carried out, and the way financial institutions operate.
A good compliance culture can benefit banks in several ways by covering more adequately organizational and individual risk; better shielding reputational risk; confidence among employees while performing their jobs; help to attract and retain talent and ensuring employee engagement; improved transparency which enables better decisions; enhanced relationship with regulators and other stakeholders; and enhanced valuation of the entity among investors.