BB asks banks to report land purchase in 7 days

All commercial banks have been asked to report to the central bank in seven days about the amount of any land purchased in the last two years, or under process of purchase by those.
Following the alleged involvement in such malpractice, Bangladesh Bank (BB) in a letter issued to the banks on Monday made this directive.
Pointing out that such land purchase is a violation of the Banking Companies Act, the letter had asked all managing directors of the banks concerned to submit reports detailing about the locations of the lands, prices and the purposes of such purchases.
“Banks cannot participate in this business,” a BB official said, referring to the law. He also pointed his finger at the hike in land prices in recent times, which he thinks a sequel to banks' involvement in such business.