BASIC Bank being probed for money laundering
Bangladesh Bank is investigating whether any money laundering crimes were committed by BASIC Bank when it gave out loans using forged documents.
BB's financial intelligence unit is looking into the matter and will forward the findings to the Anti-Corruption Commission (ACC), Abu Hena Mohammed Raji Hasan, deputy governor of the central bank, yesterday told reporters while announcing the monetary policy.
The move comes after investigations by other departments of the central bank concluded that the bulk of the amount that was taken out through forged documents has already been siphoned out of the country.
Hasan said a number of money laundering activities took place, but they would not be made public as of now for the sake of a comprehensive and independent investigation.
Meanwhile, SK Sur Chowdhury, another deputy governor of the central bank, said the BB has kept the ACC in the loop about BASIC's irregularities from the onset, adding that even this month many investigation reports were forwarded to it.
“Now it is the responsibility of the ACC to take proper action in this regard.” He went on to thank the media for their role in bringing the various irregularities at BASIC Bank out to the front and centre.
“Otherwise, the case of BASIC Bank might not have gotten such importance,” he said, while acknowledging BB's robust measures in unearthing the irregularities as well.
“We just did not bury these under ashes. Had we done so, they would have never been disclosed.” The enhanced authority given to the BB over the appointment and dismissal of senior management in state-owned commercial banks in the 2013 revisions to the Bank Companies Act has been exercised, providing a clear signal to the industry, BB Governor Atiur Rahman said.
The central bank has removed the managing director of a state bank and disbanded its board and the government cooperated in this regard, he said.
Rahman said the board members of state banks would have to be appointed after conducting the 'fit and proper test' according to the central bank guidelines.
“We have conveyed this to the government and it has accepted the suggestion.”
Comments