Ahsan Mansur’s reflections extend far beyond central banking. His message is that meaningful reform cannot be achieved through administrative measures alone. It requires political consensus, institutional independence, rigorous accountability, and a commitment to the rule of law.
The least we owe her is the same chance we have always extended to men with far worse track records. If we spent even a fraction of the energy currently aimed at her job title on the officers who signed off on S Alam's loans, we might actually get somewhere.
Unless we bail out bank depositors, we might experience bank runs, which could lead to economic collapse.
It is tempting, to view such a crisis as an aberration, an unfortunate deviation from an otherwise sound system. What has occurred at Islami Bank Bangladesh was not accidental; it was the predictable outcome of unchecked authority and weakened institutions
