2024-09-05 19:01:30
Governor of the central bank. Ahsan H Mansoor said that a lot of money has been laundered from Bangladesh through banks. A huge amount of money has been looted from the banking sector. As a result, many banks faced liquidity crisis. Liquidity assistance will be provided to distressed banks. That is why we have asked the 8 distressed banks to provide liquidity support as needed. Bangladesh Bank will act as guarantor. We intend to provide limited liquidity support. The government will think of the depositors and stand by them.
He said these things at a press conference after the bankers’ meeting at Bangladesh Bank on Wednesday (September 4). Senior officials including Deputy Governor Nurun Nahar were present at this time.
The governor said, we will not provide liquidity support to any bank by printing new money. Because, to return money to the depositors, now 2 lakh crores have to be printed. In this, the country’s currency market, foreign currency market, inflation will go out of control. For this reason, I have asked the 8 banks in crisis to provide liquidity support as needed.
He said, these banks will not distribute any kind of loan for now. Only depositors will be refunded some money. However, there is nothing to panic about. Because, we will preserve the rights of the depositors. In that case we have to give some time.
Ahsan H. Mansoor said, a lot of money has been laundered from the country through eight banks. This has led to a liquidity crisis in these banks. We want to provide limited liquidity support. The government will think of the depositors and stand by them. These banks have been in trouble for a long time. Depositors knew it too. Still you keep money there for various reasons. Because of this looting has become easy. However, we will look after the interest of the depositor, so that they get their money back.
He said, we request the depositors, you should not withdraw money together. Withdraw as much as you need. Give us some time. We hope the banks will turn around. I want to make one thing clear that the entire banking sector will not be affected because of these 7 to 8 banks.
The governor said that he will recover the assets of the smugglers in the country. First we will take this initiative. Besides, assistance has also been sought from some countries in bringing back the smuggled assets abroad. Don’t have high hopes for outside money to be brought back, but we’ll hold on tight.
He said, the traffickers mainly smuggled the most money in Dubai, Singapore, United States and United Kingdom. That is why we will initially take measures to recover money from these countries. Talks have already been held with the United States and the United Kingdom about bringing back the foreign laundered money. They have assured our assistance in bringing back the assets. We will help them according to international law.
Meanwhile, Ahsan H. Mansoor has announced the formation of three task forces for bank reforms. He said, the country’s banking sector is very fragile. We will have to work extensively for several years to fix this. It will not be limited to one or two banks. We will see and work with all the banks. A task force will work for this. While we will have some experienced people from Bangladesh, we will also hire experienced people from abroad. In this regard, the United States and the United Kingdom have assured us of their assistance.
Another task force will work to strengthen Bangladesh Bank, the governor said. Whatever we say, the central bank has a major responsibility for the weakness of the banking sector. The task force will work on various issues including management, operations, political pressure, asset management institutions of Bangladesh Bank. In short, it will work to strengthen the central bank.
Ahsan H. Mansoor said the third task force would be to lift Ates. That is, ACC, CID, BFIU and courts will coordinate all matters for recovery of bad assets. In this case, the government will need some policy changes or assistance.
Since the fall of the Awami League government, the central bank has dissolved and reorganized the board of directors of 11 banks. These are – Islami Bank Bangladesh, Social Islami Bank, Global Islami Bank, Union Bank, National Bank, First Security Islami Bank, Al-Arafah Islami Bank, Bangladesh Commerce Bank. These 8 banks were owned by S Alam Group. Apart from this, the central bank has restructured the ranks of UCB, Exim Bank and IFIC Bank.