Dhaka, Aug. 20 -- Bangladesh Bank Governor Ahsan H Mansur has warned that the country's financial sector is in "serious risk", stressing the need for urgent measures to stabilise banks, control inflation, and expand financial literacy.

On Wednesday, Mansur said the government was taking initiatives to improve the sector.

"First, inflation must be controlled. Without stable prices, nothing else is possible. Second, financial stability must be ensured, which is currently in serious jeopardy," he said.

He acknowledged the fragile state of the banking system and ongoing economic challenges.

"We all know the country's development status and the banking sector's vulnerable condition. We have a plan to stabilise it, which may take three to f...