Dhaka, May 20 -- Finance Minister Amir Khosru Mahmud Chowdhury says many of the country's banks are caught in a "serious capital deficit", the result of years of money laundering and loan defaults engineered through collusion between boards and management.

The minister made the remarks at the Financial Accounting and Reporting (FAR) Summit 2026 at a hotel in Dhaka on Wednesday.

Addressing the auditors and accountants in attendance, he noted that a massive capital deficit has emerged in the private sector, affecting both banks and previously successful companies.

The veteran leader pointed out that money laundering, misrepresentation of data and insider collusion -- where board members took away money in the name of bank ownership -- ar...