Dhaka, Bangladesh (BBN)– The central bank of Bangladesh is going to expedite its drive against irregularities in the country’s banking system by using latest information technologies in inspection works, officials said.
The decision was taken at a coordination meeting among the senior officials of different departments relating to inspection and supervision at the central bank headquarters in Dhaka on with Monday with Bangladesh Bank (BB) Governor Dr Atiur Rahman in the chair.
The meeting was discussed different technique and strategies to check irregularities in the banking system through strengthening monitoring and supervision of the central bank.
The officials at the meeting were asked to remain alert against various irregularities particularly in the state-owned commercial banks (SoCBs).
The BB governor instructed the officials to take stern action against deputy managing director (DMD), MD, even board of directors, of the commercial banks and non-banking financial institutions (NBFIs) in line with the existing Banking Companies Act if found guilty of any irregularities.
“You (officials) send file with recommendation of appointing administrators or observers to troubled banks and non-banking financial institutions (NBFIs), if necessary,” BB Governor Dr. Rahman noted.
The latest financial situation on some NBFIs was discussed at the meeting, a senior official said, adding that the governor ordered the officials concerned to take effective measures to improve the financial health of the NBFIs.
The meeting also discussed the use of latest information technologies to check fraud and forgery in the country’s banking sector, considering the latest diversification in foreign-exchange activities.
“The BB is showing zero tolerance against irregularities and corruption in the country’s banking system,” the central banker noted.
He also said the BB is strengthening its supervision and monitoring on foreign-exchange transactions through coordinating on-site and off-site supervisions of the central bank.