Private banks' directors slam CPD report

Bangladesh Association of Banks, a platform of the directors of private banks, yesterday heavily criticised the Centre for Policy Dialogue (CPD) report that claimed Tk 22,000 crore was embezzled from the country's banking sector in the last decade.

In a statement, the BAB termed the CPD's report "false and misleading", expressing concern over its release ahead of December 30 polls.

The observation was made at the BAB's 25th annual general meeting in Dhaka, presided over by the platform's Vice-Chairman Professor Md Nazmul Hassan, the statement said.

Speaking at the programme, members of the association said more than Tk 8 lakh crore was invested in the banking sector in the last decade.

They alleged that the dissemination of negative information would hurt the financial sector at a time when it was moving forward.

The reaction of the BAB came six days after the CPD launched its report claiming scams in 14 banks cost Tk 22,502 crore in the last decade.

However, the CPD refuted the BAB's allegations saying the report had no connection with the upcoming polls.

"We have been analysing banking and other sectors as a part of our research work. There was no political motive behind it," Fahmida Khatun, executive director of the think-tank, told The Daily Star.

She said the CPD had launched reports in January, April and June where the condition of the banking sector had been prominently discussed.

On Wednesday, the Association of Bankers, Bangladesh, a platform of managing directors of banks, also defended the banking sector at a sudden press conference, saying no big financial scam took place in the recent past.