BB rejects TK15 lakh fine waivers to 3 banks over CIB reporting violations
Sonali, Islami and Standard banks were fine Tk5 lakh each for submitting incorrect loan classification data to CIB
The Bangladesh Bank board has upheld Tk15 lakh in fines on Sonali Bank, Islami Bank, and Standard Bank for failing to report classified loans accurately in the Credit Information Bureau (CIB) database.
Each bank was fined Tk5 lakh for submitting incorrect loan classification data to the CIB and for not reporting defaulters on time. The banks had requested a waiver of the fines, but the central bank board rejected the requests during its 444th meeting on Monday, chaired by Governor Ahsan H. Mansur, a board official present at the meeting confirmed to TBS.
Apart from the fines, the meeting also discussed the formation of the Shariah Advisory Board (SAB), the approval of the Regulation for Bank Resolution, 2025, and issues related to the dissolution of Premier Bank's board.
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Bangladesh Bank's spokesperson, Arif Hossain Khan, told TBS that in the board meeting, the Shariah Advisory Board (SAB) 2025 policy — covering the formation of the board, appointment and removal of members, and their roles and responsibilities — was approved.
A relevant department official told TBS, "Each bank will have its own Shariah Advisory Board. If any issue arises or there is doubt on a matter, it will be referred to the central Shariah Advisory Board of Bangladesh Bank, and their decision will be considered final.
"If the Bangladesh Bank requires any Shariah-related opinion, it must come from this board. In this context, it is said that the board now has the authority to issue fully Shariah-compliant rulings on relevant matters," the official added.
BB spokesperson Arif said that the board also approved the Regulation for Bank Resolution, 2025, aligned with the Bank Resolution Ordinance, 2025. The minutes of the first meeting of the Board Risk Management Committee were presented, and the draft Distressed Asset Management Ordinance, 2025, was approved for submission to the Advisory Council of the interim government for final approval.
An executive director of the Bangladesh Bank present at the meeting told TBS that in August, the central bank had dissolved Premier Bank's board and formed a new management committee. The former board had applied to reinstate itself, but the board rejected this application during Monday's meeting.
