STAR BUSINESS REPORT

The Bangladesh Association of Banks (BAB) has welcomed the government’s effort to recapitalise banks by spending over Tk 40,000 crore in the current fiscal year, but said the move needs to be matched by swift legal recovery of misappropriated assets for lasting effects.

Finance Minister Amir Khosru Mahmud Chowdhury disclosed the figure in his budget speech on Thursday, saying the government had committed the funds to restore the financial health of weak banks.

In a statement on the proposed budget, the BAB, which represents bank sponsors, demanded The