Cenbank bars officials from foreign trips funded by suppliers, service providers

The Bangladesh Bank has imposed stricter rules on the participation of its officials and employees in local and overseas training programmes, seminars and workshops in a move aimed at strengthening transparency and accountability within the financial sector.

Under a new office order issued on Wednesday, officials and employees of the central bank will no longer be allowed to attend training sessions, seminars, symposiums or workshops at home or abroad if those are financed by banks, financial institutions, organisations receiving services from Bangladesh Bank, or companies supplying goods and services to the central bank.

The directive also bars Bangladesh Bank officials from serving as trainers or examiners in training programmes or workshops financed by banks and financial institutions.

According to the order, officials will also be prohibited from participating in overseas seminars or training programmes funded by organisations that either receive services from Bangladesh Bank or maintain business relationships involving the supply of goods and services to the central bank.

However, officials may take part as speakers or trainers in seminars or discussions held in the country with prior approval from Bangladesh Bank's Human Resources Department-2.

The order further states that officials will not be allowed to accept any honorarium or financial benefit from organising institutions in such cases.

Bangladesh Bank said the directive was issued to avoid conflicts of interest and maintain the neutrality of the central bank's operations. The order takes immediate effect.

Sources concerned said officials from several Bangladesh Bank departments had previously travelled abroad at the invitation of supplier and service provider companies.

Allegations had also been raised against some officials for providing undue advantages to those companies in procurement processes, prompting the central bank to introduce the new restrictions.