BCB issues clarification on withdrawal of Tk 250 crores
The board issued this clarification after some reports in media claimed there have been some irregularities in financial transactions since Faruque Ahmed took over as the BCB president, the
Daily Star reported.
"Upon assuming the role of BCB President in August 2024, Faruque Ahmed identified the safeguarding of the Board's financial interests as a top priority, especially in the context of
allegations of financial irregularities in previous years and the difficult economic period the
country was experiencing in the months following the mass uprising of July–August 2024,"
said BCB in a press release.
BCB said in order to ensure security of the board's funds, the board took a "strategic decision" to withdraw Tk 250 crore from banks which were categorised as risky by the Bangladesh Bank and reinvested majority of it in banks which were categorised in the Green and Yellow Zones.
"Considering the paramount importance attached to ensuring security, the BCB withdrew BDT 250 crore from banks considered risky and reinvested BDT 238 crore of it in Green and Yellow Zone banks. The remaining BDT 12 crore was transferred to a designated account to facilitate BCB's operational expenses.
"The BCB is also aware that disruptive elements and a vested quarter, both outside and within the cricket administration, remain active with the sole intention of maligning the Board and undermining its efforts. This was another pertinent reason to strengthen the security and safety of BCB's funds
and operations.
"Since September 2024, the BCB has entrusted 13 such banks with the responsibility of holding its funds and fixed deposits. This move not only ensured the security of the Board's finances but also allowed the BCB to leverage partnerships that offered the most competitive interest rates. As a result of this strategy, the BCB has realised an increase of 2–5 percent in interest earnings from its fixed deposits compared to previous periods."
UNI BM
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