A Shocking Revelation: Massive Bank Scams in Bangladesh
According to the private research organization Center for Policy Dialogue or CPD, more than 92 thousand crore rupees have been embezzled in the banking sector in the country from 2008 to 2023. According to the agency, this money was stolen through 24 major scams in the banking sector in the last 15 years.
Dr.Fahmida Khatun said that the embezzled amount is equal to 12 percent of the national budget of the current fiscal year or 2024-25 fiscal year and two percent of the country’s total GDP. From 2009 to 2017, the government had to spend more than 15,500 crore rupees to provide capital to the failing banks.
Advising to change the current management and board of directors of dying banks, Dr.Fahmida Khatun said, many banks have become clinically dead. These banks will not be able to turn around. They need to be allowed to die naturally. The government is running these banks by replenishing them with money and capital.
Pointing out that the amount of defaulted loans is increasing, he said that in 2009, the amount of defaulted loans was Tk 22 thousand 481 crores. Until March of this year, the amount of which stood at 1 lakh 82 thousand 295 crores. The investigation into the theft of Bangladesh Bank’s reserves in 2016 is still ongoing. The CID took 79 times to complete the investigation. The new time is September 4. See you in the future. We want the investigation report to be made public.
Research has shown that many irregularities have been done in the country’s banking sector due to party influence. For example, Janata Bank has given a loan of Tk 10,000 crore to a company called Anon Tax Group, which is more than a quarter of the total capital of the state-owned bank. Again in 2017, only one business corporation of the country took ownership or control of seven commercial banks due to political influence.
