Bangladesh Bank restricts entry for journalists

The central bank has imposed a strict restriction on journalists' access to its building.

From now on, journalists will only be able to visit the spokesperson of the bank at its building using a specific permit issued by the bank, Mezbaul Haque, the Bangladesh Bank spokesperson, told The Business Standard on Thursday (25 April).

"Journalists will also be able to visit other officials of the bank if the officials issue them a permit. Journalists will no longer be able to freely enter any department of the central bank as before," he added.

According to journalists, this is the first time such a restriction has been imposed.

The central bank's decision comes as its various departments are scheduled to sit with a team of the International Monetary Fund (IMF) regarding the international lender's $4.7 billion loan package for Bangladesh.

Journalists have condemned the restrictions and protested in front of the office of the Bangladesh Bank Governor Abdur Rouf Talukder earlier on the day.

Economic reporters from various news outlets staged a sit-in programme in front of the building from 11am to 12:30pm.

Economic reporters stage a sit-in protest in front of the Bangladesh Bank governor's office. Photo: Collected

Economic Reporters Forum (ERF) President Refayet Ullah Mirdha and General Secretary Abul Kashem met with the central bank governor over the announced restriction.

However, the meeting was inconclusive.

Economic reporters have alleged that such restrictions were imposed as Bangladesh Bank Governor Abdur Rouf has failed to take effective measures in controlling inflation and curbing the volatility in the dollar market.

"As these issues are being published by the media, he has imposed strict restrictions on journalists' entry to the Bangladesh Bank," an economic correspondent of a private news outlet told TBS on condition of anonymity.

Earlier, on 10 March, some newspapers published the list of weak banks in the country. The Bangladesh Bank has identified 38 banks, including six state-owned banks, as weak lenders out of the 54 analysed.

Of the 54 banks, 12 are in critical condition, of which nine have already moved to the red zone. The other three out of 29 banks in the yellow zone are very close to the red zone.

Immediately after the publication of the reports, the governor of the central bank stopped allowing journalists to enter any of its buildings to collect information. Besides, central bank officials who issued passes to journalists in the last one month had been show-caused.

Bangladesh Bank said that 7-10 banks may be merged this year to reform the country's banking sector and overcome the crises of the sector. However, the five weaker banks that have taken the initial decision to merge so far have not been given a chance to decide on the merits. The central bank informed which banks will be merged with which banks.

Meanwhile, the decision to force mergers caused panic among bankers and customers so the central bank retreated from more mergers.

There are many speculations about the reason for this policy of the central bank. Although there should have been voluntary mergers this year, the decision-making officials of four banks that will be merged said they had to come to such a decision under the pressure of the central bank.

At such a time, the central bank has imposed the restriction on journalists' access to its building.

Terming the restriction as "unacceptable", Sushasoner Jonno Nagorik (Sujan) Editor Badiul Alam Majumder said, "Journalism is a profession recognised by the state. As a state institution, Bangladesh Bank should be accessible by journalists to obtain information. People get information through journalists. What is the governor trying to hide now?"

He said, "Transparency, accountability is necessary everywhere. Any action contrary to good governance is not desirable. Denying journalists access is unacceptable, it needs to stop."