Dhaka, May 12 -- Finance Minister Amir Khosru Mahmud Chowdhury has described Bangladesh's current state of investment amid the internal and global economic headwinds of the past few years as "painful".

Speaking at the inauguration ceremony of the Bangladesh Startup Investment Company (BSIC), established under the ownership of 39 commercial banks in the country, he said: "We are going through a painful time for investment. Everyone knows that major problems have arisen in the country's banking sector.

"We want to resolve the problems of the banking sector. These are all a part of the economy. We will solve them by working together. We have a political commitment to that."

The startup company was inaugurated at a hotel in Dhaka at 11am o...