THE High Court came down heavily on Tuesday saying Bangladesh Bank has become a safe abode for big financial scammers in banks and other non-bank financial institutions. A section of BB officials are allegedly linked to financial scams in People’s Leasing and Financial Services Ltd (PLFSL) and many other FIs involving money laundering of over several thousand crore taka. An HC Bench has termed SK Sur Chowdhury – a former deputy governor of BB, and Shah Alam — a sitting executive director as “thieves and robbers” who have reportedly received regular bribes and facilitated loan irregularities.
The single judge High Court Bench comprising Justice Muhammad Khurshid Alam Sarkar made the observations during the hearing on a petition earlier filed by the central bank in 2019 seeking permission to liquidate PLFSL following its insolvency. Its observations that BB officials from general manager to deputy governor took bribes between 2002 and 2019 and were silent on loan scams is a strange disclosure. At least 10 out of 36 NBFIs are now reeling from various financial scams.
It is believed that the chief executive of an NBFI, his family members and friends have laundered the bulk of funds from its coffer and several others against fake loans processing, and left the country as the ACC or BSEC were sitting idle. Everyone knows that in the recent past big financial scams hit the central bank like stealing of US$ 100 million from its vault and many other banks. But Bangladesh Bank failed to take credible actions against fraudsters helping scammers at different places.
It appears that the Bangladesh Bank authorities or the government were sheltering such irregularities to make many to raise questions like the police delaying the submission of the money heist case reports now being extended for the 46th time. Why did the central bank still retain its executive director in active service or did not initiate legal action against the former powerful deputy governor risking the image of the central bank. We do not expect an answer. There is no accountability anywhere in public affairs for the criminals to have an open field.
As newspapers when facts of corruption come to light we publish and hope the situation will improve. We cannot all be criminals or protectors of criminals. But the situation is sad and frustrating.
