2024-06-15 20:31:27
The Bangladesh Monetary Intelligence Unit (BFIU) of Bangladesh Financial institution has ordered the suspension of checking account transactions of Bangladesh Race Asset Administration, the nation’s high asset administration establishment, and the funds managed beneath it.
In line with dependable sources, on June 10, BFIU has ordered the scheduled banks of Bangladesh to droop checking account transactions of races for 30 days.
Funds managed by Bangladesh Race Asset Administration are AB Financial institution First Mutual Fund, EBL First Mutual Fund, EBL NRB Mutual Fund, Exim Financial institution First Mutual Fund, First Bangladesh Mutual Fund, IFIC Financial institution First Mutual Fund, PHP First Mutual Fund, Standard Life First Mutual. Fund, RES Particular Alternatives Unit Fund, Belief Financial institution First Mutual Fund, First Janata Financial institution Mutual Fund and RES Monetary Inclusion Unit Fund.
In line with the directions of the Central Financial institution, your consideration is drawn to the truth that the transactions of all financial institution accounts, FDR and MTDR accounts of Bangladesh Race Asset Administration and the funds managed beneath it in your group beneath Part 23(1)(c) of the Prevention of Cash Laundering Act-2012 Adjournment was ordered for 30 days i.e. from June 10 to July 9.
It’s to be famous that in view of the scandal of asset administration firm Common Monetary Options and Alliance Capital relating to mutual fund cash, the capital market regulatory physique Bangladesh Securities and Alternate Fee (BSEC) has taken the initiative to analyze the actions of all asset managers.
On this regard, the chief govt of Bangladesh Race Administration PCL. Hasan Taher Imam has been accused of assorted irregularities together with cash laundering. As part of this, the BSEC has shaped an inquiry committee to look into the standing of funds managed by the race. BSEC has written to BFIU to freeze all financial institution accounts of Race and its funds in order that there isn’t a alternative to withdraw cash from these funds throughout the investigation. In view of that letter, BFIU has ordered the suspension of the checking account.