Govt amends bank company act to loot money: Fakhrul

BNP Secretary General Mirza Fakhrul Islam Alamgir today criticised the government for its move to amend Bank Company Act and said it is being done "aiming at looting money from banking sector".

“The ruling party men have already grabbed all banks. Now the government has moved to loot banks through amending the existing law,” he said while addressing a meeting of BNP’s Dhaka City North Unit at Institution of Diploma Engineers.

READ MORE: 4 of a family can be bank directors

The cabinet approved a draft law, which allows four members of a family to be directors of a bank. The existing law permits two members of a family for the director posts.

The directors can serve the post nine years in three phases with a three-year break after each term, Cabinet Secretary Shafiul Alam told reporters after the meeting at the Secretariat in Dhaka earlier in the day. Prime Minister Sheikh Hasina chaired the meeting.

Lambasting the government for this move, Fakhrul alleged banking sector has totally been destroyed as the “ruling party men have looted crores of money”.