No scope for money launderers to return to bank boards: BB
The clarification follows concerns raised in the media and among the public about whether controversial figures previously accused of financial irregularities, loan scams, and money laundering could be rehabilitated into the banking sector.
The Bangladesh Bank has clarified that any individual or group facing allegations of money laundering abroad will be barred from returning to the board of directors of any bank.
Arief Hossain Khan, executive director and spokesperson of the central bank, gave this clarification yesterday to address public confusion regarding certain provisions of a recent ordinance related to banking sector reforms.
The clarification follows concerns raised in the media and among the public about whether controversial figures previously accused of financial irregularities, loan scams, and money laundering could be rehabilitated into the banking sector.
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"The information presented in some media outlets regarding the recent reform ordinance has sparked various questions," said Arief.
"There are fears that individuals or groups involved in past irregularities might find a way back into bank ownership or management," he added.
Explaining the ordinance, the spokesperson noted that while former directors or sponsors could potentially regain ownership by paying a specific amount – 7.5% of their dues – this is not an "automatic or indiscriminate" opportunity. Instead, the entire process will be subject to rigorous scrutiny and regulatory oversight.
