source: prothom alo
Director general of Bangladesh Institute of Bank Management (BIBM), said that Toufique Ahmad Chowdhury should stop private irregularities in Fermer Bank. According to him, the closure of a bank to reduce the irregularities of banks and financial sector would be an example.
He said this at a function organized by the Bangladesh Institute of Economic Cooperation in the liberation war memorial auditorium of the diploma engineer's institute in the capital on Saturday. Ten essays were presented in the work-session titled 'Economics and Ethics: Finance and Financing'.
Toufiq Ahmad Chowdhury said that once the government gets a license from the bank, it is the responsibility of the government to keep it alive. But what has happened in the Farmers Bank, this bank must definitely die.
However, Finance Minister Abul Maal Abdul Muhith said on Thursday that Fermars Bank will not be allowed to die. The government will sustain it.
The director general of BIBM commented that there is no alternative to strengthening the central bank in ensuring good governance in the bank and financial sector. He said, no matter how much, the financial sector can not be controlled without a strong Central Bank.
The financial condition of the private sector, which got approval for political consideration, has been going bad for months. The bank's board of directors has also changed. The bank is lending from another bank. Because of this, taking high interest deposits has to be taken. In the last one year, the bank fined Taka 18.5 million for not paying the money in the central bank due to rules. The bank does not even have the capability to repay the liabilities of the depositor.
Former Home Minister Mohiuddin Khan Alamgir was chairman of Fermers Bank. He recently resigned from the post.
Bank of Bangladesh appointed observer on January 13, 2016 But the situation did not improve.
According to the report of financial institutions department of the Ministry of Finance, within a few days of the start of the activities, the bank has made irregularities in disbursing the loan. Its internal control system is also relaxed. The bank has given loans to its own banks and other bank managers to break the existing and non-existent and signboard institutions and rules. Even the bank lends to the defaulting customers and they also buy default bank loans. The bank has made irregularities in appointing manpower. As a result, the bank has been facing many problems.director general of Bangladesh Institute of Bank Management (BIBM), said that Toufique Ahmad Chowdhury should stop private irregularities in Fermer Bank. According to him, the closure of a bank to reduce the irregularities of banks and financial sector would be an example.
He said this at a function organized by the Bangladesh Institute of Economic Cooperation in the liberation war memorial auditorium of the diploma engineer's institute in the capital on Saturday. Ten essays were presented in the work-session titled 'Economics and Ethics: Finance and Financing'.
Toufiq Ahmad Chowdhury said that once the government gets a license from the bank, it is the responsibility of the government to keep it alive. But what has happened in the Farmers Bank, this bank must definitely die.
However, Finance Minister Abul Maal Abdul Muhith said on Thursday that Fermars Bank will not be allowed to die. The government will sustain it.
The director general of BIBM commented that there is no alternative to strengthening the central bank in ensuring good governance in the bank and financial sector. He said, no matter how much, the financial sector can not be controlled without a strong Central Bank.
The financial condition of the private sector, which got approval for political consideration, has been going bad for months. The bank's board of directors has also changed. The bank is lending from another bank. Because of this, taking high interest deposits has to be taken. In the last one year, the bank fined Taka 18.5 million for not paying the money in the central bank due to rules. The bank does not even have the capability to repay the liabilities of the depositor.
Former Home Minister Mohiuddin Khan Alamgir was chairman of Fermers Bank. He recently resigned from the post.
Bank of Bangladesh appointed observer on January 13, 2016 But the situation did not improve.
According to the report of financial institutions department of the Ministry of Finance, within a few days of the start of the activities, the bank has made irregularities in disbursing the loan. Its internal control system is also relaxed. The bank has given loans to its own banks and other bank managers to break the existing and non-existent and signboard institutions and rules. Even the bank lends to the defaulting customers and they also buy default bank loans. The bank has made irregularities in appointing manpower. As a result, the bank has been facing many problems.