Again Sonali Bank robbery!
THIS is becoming very repetitive and the mode very predictable. It seems that the treasury bank of the government is free for all and no one seems to have bothered to wake up to the serious sap of public confidence in the largest public bank. If it is not robbery it is illegal loans amounting to thousands of crores of public money given out like manna to little known business firms under undue political pressure, or hackers siphoning off thousands of dollars due to lax back up and oversight procedures.
Very soon after more than 16 crore taka was robbed by tunneling into the vault of its main branch in Kishoreganj a similar robbery has caused another of its branches to lose more than 30 lakh taka on Saturday, not a small amount for small branch in Bogra, applying the same method. It seems that there are no other alternatives to make Sonali Bank branches safe from robbers except to build a wide moat or a fortress around them!
For a long time the bank has been performing poorly, resulting in loss of profit. It was also ticked off by the central bank for management lacuna. Its management has been plagued by political interference including the formation of its board of directors. And this is so with most other public banks too. The finance ministry and the Bangladesh Bank must come down heavily on the management of Sonali Bank, revamps its systemic failures including its security mechanisms to revive confidence of the public in it.
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