MK Alamgir's rejoinder, our reply
Muhiuddin Khan Alamgir, chairman of the Farmers Bank, has sent a rejoinder to a news analysis titled "Bangladesh Bank vs MK Alamgir" published in The Daily Star on January 20, 2016. Following is the full text of the rejoinder sent in his personal letterhead pad and signed by Muhiuddin Khan Alamgir, also chairman of the parliamentary standing committee on Public Accounts:
Dear Editor,
As an avid reader of the Daily Star I have read with interest your news analysis titled 'Bangladesh Bank VS MK Alamgir' as was published on Jan 20, 2016. In my assessment there are three incorrectness in your analysis: First, there is no truth in the report that Parliamentary Standing Committee on Public Accounts has formally enjoined or requested the Comptroller and Auditor General to conduct a special audit on the functions of the Central Bank. It was not an agendum of the meeting of the Standing Committee on January 17, 2016 as mentioned by you nor recorded in the proceedings of the meeting.
Second, the Farmers Bank does not come under the purview of the Public Accounts Committee. Only government organisations and parastatals or outfits having government's savings or investments are to be audited by the Comptroller and Auditor General. The Farmers Bank has no relevance or does not constitute an element in functions and duties of the Comptroller and Auditor General as prescribed under the Constitution of the country. Therefore, there is no room for conflict of interest in my role as Chairman of the Standing Committee on Public Accounts and as Chairman of the Board of Director of this private bank.
Third, The Farmers Bank was not given a licence to operate as a Bank when I was the Minister of Home Affairs of the Government. I did not serve or act as the Chairman of The Farmers Bank when I was the Minister of Home Affairs either.
The other issues and matters pertaining to litigation are matters of record and sub-judice and may not call for any comment or suggestion from any non-judicial person or body. I would request you therefore to publish these in your esteemed daily to remove any doubt or misconception.
OUR REPLY
Mr Muhiuddin Khan Alamgir's claim that the parliamentary standing committee has not "formally enjoined or requested the Comptroller and Auditor General (CAG) to conduct a special audit on the functions of the Central Bank" contradicts the official press release issued by the parliament secretariat.
The official press release issued by the parliament secretary following the committee's meeting held on January 17 clearly stated that the committee has asked the audit office [CAG] to submit a report after conducting a special audit on the functions of Bangladesh Bank.
The Bangla media release reads: " ˆeV‡K †`‡ki wewfbœ RvZxq ˆ`wb‡K evsjv‡`k AvIqvgx jx‡Mi mvavib m¤úv`K ˆmq` Avkivdzj Bmjv‡gi e³…Zvi Dci 17 Rvbyqvwi 2016 wLªt Zvwi‡L Òevsjv‡`k e¨vsK I A_© gš¿Yvjq RwÛ‡m fzM‡QÓ wk‡ivbv‡g cÖKvwkZ msev‡`i Dci Av‡jvPbv nq Ges ‡m Av‡jv‡K welqwU m¤ú‡K© evsjv‡`k e¨vs‡Ki Kvh©µ‡gi Dci AwWU Awdm‡K GKwU we‡kl AwWU cwiPvjbv K‡i wi‡cvU© cÖ`v‡bi mycvwik K‡i KwgwU|"
Alamgir's second claim is that there is no room for conflict of interest between his role as chairman of the standing committee on Public Accounts and as chairman of the board of directors of his bank.
Although he is technically correct, the fact remains that the Public Accounts Committee (PAC) asked the CAG office to conduct a special audit on Bangladesh Bank within four days after the central bank appointed an observer to the Farmers Bank (FB). The central bank's appointment of an observer came after it was found that the FB had broken rules in approving and giving loans.
The PAC has not made such a move in recent years. That's why this move drew criticism and was labelled as the abuse of power.
We are confused about the third point Mr Alamgir has tried to make. He claims the FB was not given license to operate as a bank when he was the minister of the home affairs. This claim contradicts the records of the government on his swearing-in as a minister and also the record of his FB.
Alamgir had taken oath of office as a minister on September 13, 2012. He was given charge of the home ministry and continued to hold the portfolio until a polls time cabinet was formed in November 2013.
Bangladesh Bank gave FB a license on April 21, 2013 to operate as a bank and an approval for opening its first branch, Gulshan Corporate Branch, on May 30, 2013. The bank started functioning from June 3, 2013, according to the FB's annual report of 2013.
Thus, his claim that FB was not given license when he was the home minister stands in contradiction to the records of the government and also of his own bank.