Bangladesh needs Tk 60,000 crore annually for the next five to eight years to recover its banking sector from financial looting and structural damage, Bangladesh Bank Governor Md. Mostakur Rahman has said.

He made the remarks while speaking at an event marking the launch of Bangla QR at ONE Bank.

The governor said the banking sector had suffered extensive damage due to financial irregularities and mismanagement. A substantial amount of funding would be required over several years to restore stability, rebuild institutional capacity and strengthen the sector.

He stressed the need for effective measures to restore confidence in the banking system and ensure sustainable development.

The launch of Bangla QR at ONE Bank is part of efforts to promote digital transactions and expand cashless payment services in the country.