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
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
United News of India
an hour ago
- United News of India
MoD inks Rs 2,000 cr deal with BEL for Air Defence Fire Control Radars
New Delhi, July 25 (UNI) Defence Ministry today signed a contract with Bharat Electronics Limited (BEL) for the procurement of Air Defence Fire Control Radars for the Indian Army, worth around Rs 2,000 crore. The deal is under the Buy (Indian-Indigenously Designed Developed and Manufactured) category, a Defence Ministry statement said. The contract was inked and exchanged by senior officials of MOD and BEL in presence of Defence Secretary Rajesh Kumar Singh here. With minimum 70 per cent indigenous content, these Fire Control Radars will be able to detect all forms of air-borne threats, including fighter aircraft, attack helicopters and enemy drones. This would mark a significant milestone in the modernisation of the Air Defence Regiments and enhance the Indian Army's operational readiness, while contributing to the economic growth of the nation. The procurement marks a pivotal step towards empowering indigenous defence industries by encouraging Indian MSMEs through components' manufacturing and raw material supply. UNI RBE ARN
United News of India
an hour ago
- United News of India
I am working on my speed and attacking abilities: Boxer Hitesh Gulia
New Delhi, July 25 (UNI) India's 70 kg boxer Hitesh Gulia who won the Gold and Silver medal respectively at the World Boxing Cup Brazil 2025 and World Boxing Cup -Astana, Kazakhstan 2025, says he is working on increasing his speed and sharpening his attacking abilities in order to further improve his game. In an exclusive interview to UNI on the sidelines of the felicitation function held for the Indian boxing contingent that participated in the two events, Gulia said: "My footwork is quite good. I am working further on my attack and on increasing my speed." Gulia characterises his boxing style as slow-paced and tactical. "I like to assess the opponent during bouts and mould my game accordingly. Every opponent is different; hence one needs to be flexible." The 20-year-old said that the two tournaments were of very high quality, and added that his match against Brazil's Kaian Oliveira was the toughest he has played so far. Gulia lost 0-5 to Oliveira in the Gold medal match in Astana. 'All matches in Brazil and Astana were tough, but the final match against the Brazilian in Astana was the toughest game I have ever played.' The Jhajjar native said that he will now be preparing for the 'World Boxing Championships 2025' that will be held in Liverpool, England, from September 4-14. "I will now be preparing for the upcoming World Championships that will be played in September. I will be leaving for the camp in NIS (National Institute of Sports) Patiala." Gulia idolises veteran boxer-turned-coach Suranjay Singh and Beijing Olympics Bronze medallist Vijender Singh. UNI RKM RN
United News of India
2 hours ago
- United News of India
SEIL energy distributes 1000 bicycles to school-going children
Nellore, July 25 (UNI) In a significant step towards promoting education and enabling better access to schools for rural students, SEIL Energy India Limited, one of the largest independent power producers (IPP) in India, has donated 1,000 bicycles to school-going children in Addanki, in Bapatla District of Andhra Pradesh, under its Corporate Social Responsibility (CSR) initiative on Friday. This initiative, aligned with SEIL Energy's CSR key focus area on Education, aims to reduce school dropout rates, particularly among children from underprivileged backgrounds and girl students who often face mobility challenges in remote areas. Energy Minister of Andhra Pradesh, Gottipati Ravi Kumar, formally handed over bicycles at Zilla Parishad High School (ZPHS), Makkenavaripalem. The Minister also handed over 452 cycles to the students of ZPHS, Medarametla. Speaking on the occasion, Minister Gottipati Ravi Kumar said, 'We are immensely grateful to SEIL Energy for their generous contribution of 1,000 bicycles. This initiative is a critical enabler in the Government of Andhra Pradesh's larger vision to distribute 10,000 bicycles to underprivileged children, ensuring that no child is denied access to education due to lack of transportation.' Mr. Janmejaya Mahapatra, CEO, SEIL Energy India Limited, said, 'At SEIL Energy, we believe that education is the most powerful tool for community transformation. Through this initiative, we are not just donating bicycles ---we are helping unlock the future potential of 1,000 children. We are proud to partner with the Government of Andhra Pradesh in advancing this noble and meaningful cause.' All 1,000 beneficiaries are underprivileged school students from rural areas, and many of them are first-generation learners. This project is part of SEIL Energy's broader CSR commitment across four key pillars: Education, Health, Decarbonisation and Skill & Entrepreneurship Development. Over the past decade, SEIL Energy's CSR efforts have positively impacted about one million lives through sustainable, inclusive, and community-driven initiatives. UNI DP ARN
