Dhaka, Bangladesh (BBN)- The central bank of Bangladesh has decided to present its inspection report on commercial banks within three months to check irregularities and fraudulence in the banking sector, officials said.
The Bangladesh Bank (BB) has taken the decision to reinforce its monitoring activities for strengthening discipline in the banking sector, a senior central banker said.
He also said the quick presentation of inspection report would help identify irregularity and fraudulence and to take corrective measures in short time.
The central Bank teams inspect the commercial banks regularly to find out the instance of irregularity and fraudulence and submit report to their authority.
Officials said the inspection teams in most of the cases take six to nine months to present final report. For this reason, the central bank fails to take effective steps in time as recommended in the report.
BBN/SSR/AD-15Mar13-11:30 am (BST)
