During the regime of Sheikh Hasina government, some unscrupulous businessmen and influential people embezzled money from the banking sector with anonymous loans, said the chief adviser of the interim government. Muhammad Yunus.
This information was informed in a press release sent from the Press Wing of the Chief Adviser on Wednesday (August 28).
According to the notification, some unscrupulous businessmen and influential persons have embezzled huge amount of money anonymously and smuggled it abroad through extensive corruption and fraud in the banking sector in recent years. The exact amount of which is ongoing. The amount of this embezzled money can be estimated to be more than lakhs of crores of rupees.
Without mentioning the names of the influential people, it is said there, reform activities have already started in the banks and financial institutions associated with such corruption and money laundering. Meanwhile, the boards of Islami Bank, Social Islami Bank, National Bank, United Commercial Bank, Global Islami Bank, Union Bank have been reconstituted. Reforms will begin in the remaining banks and financial institutions.
“Actual data of these embezzled money will be collected through the new management authority and audit activities will be started to determine the actual amount of money embezzled through them.”
Indicating the strict attitude of the government towards the prosecution of money embezzlers, the press release of the Office of the Chief Adviser said, with the help of the new management authority of the banks, Bangladesh Bank BFIU, CID and ACC, work has started to recover the embezzled money by acquiring the local assets of the embezzlers and bringing back the money smuggled abroad. The government has already started contacting various foreign organizations for help in bringing back the money.
Referring to the formation of the banking commission soon, the chief adviser’s office said, the commission will reveal the true picture subject to investigation in each bank concerned and formulate an implementable roadmap for the restructuring of the banks within six months.
It is mentioned in the circular that the aim of Bangladesh Bank and Government is to build a strong banking sector capable of complying with all international standards. But making it a success will require time, international technical assistance and money from start to finish. Bangladesh Bank and the government are taking action to restructure the banks by acquiring local and foreign assets of money embezzlers and bringing back the money smuggled from abroad.
It is said that restructuring of banks and structural reforms of the financial sector will take time. However, the government is determined to make Bangladesh’s financial sector of international standards.
