BRAC Bank MD clarifies his recent statement on CenBank officials

BRAC Bank Managing Director and CEO Selim RF Hossain has clarified his comments on Bangladesh Bank officials he made at an event in Dhaka on 4 December.  

In a statement sent to the media today (6 December), Selim said, "At the event, I mentioned the lack of accountability of the boards of directors of various banks as well as the top officials of the central bank during the pre-August period for the fragile situation in the banking sector. 

"The white paper submitted to the government on the banking sector also mentioned the lack of accountability and good governance. The governor has also spoken in various forums about the need for transparency, accountability and good governance in the banking sector." 

"Some top-level officials, who are not currently in the central bank, used to use their positions to recommend jobs, promotions and transfers in various banks. At that time, a very small number of top-level officials of the central bank were involved in the abuse of power," he said. 

He continued, "Those who had committed various irregularities in the past while holding responsible positions were involved in lobbying. They used to try to dominate various commercial banks along with the central bank. As a result, some commercial banks were in chaos, creating opportunities for irregularities. 

"Most of them were dismissed after 5 August. In fact, except for a few officers, all the officers of Bangladesh Bank are very honest, talented and smart. They are working with great sincerity to keep the country's economy dynamic and to run the banking sector in a disciplined and orderly manner." 

"My comments have been wrongly presented and misinterpreted in some media outlets and social media. I protest such wrongly presented news. If anyone has been hurt by my recent statements, I sincerely apologise," Selim added. 

On 4 December, at an event organised by the Bangladesh Institute of Bank Management, Selim, in the presence of the central bank governor, alleged that some Bangladesh Bank officials were "blackmailing" commercial banks. 

He also mentioned the alleged pressure exerted by central bank officials on appointments, transfers and promotions. 

Meanwhile, central bank officials have warned of legal action against the BRAC Bank MD, if he does not withdraw his statement. 

At a meeting held yesterday, they requested the central bank governor to take immediate administrative action against him.