In order to prevent the scam, Bangladesh Bank must be given full autonomy for monitoring the activities of state-owned banks as is done in case of private commercial banks. The Banking Division of the Ministry of Finance should not intervene in the operation of the state-owned banks for the betterment of the banking sector as well as businesses and economy of the country. ICCB Vice President Latifur Rahman said this at a workshop on New ISBP (International Standard Banking Practices) 2013 and URBPO (Uniform Rules for Bank Payment Obligation). The incidents of recent scam in the banking sector took place in collaboration with a group of bank officials and influential group, he said adding, “Though the Bangladesh Bank is taking measures to prevent the scams, the incidents are growing faster than actions. The International Chamber of Commerce (ICC), the world business organisation has been formulating various rules followed worldwide for international trade, he added. The ICC revised the International Standard Banking Practices (ISBP) which has become effective from July 2013 and also formulated the United Rules for Banking Payment Obligations. As the workshop will be dealing with these important topics, he urged upon participants to take full advantage of the presentation by the expert and get clarified on all issues. He said the companies engaged in international trade are facing growing threat from fraud and forgery. Besides, the recent scam in some of the state-owned banks have shaken entire banking sector, he mentioned. The commercial banks are now taking extra precautionary measures in opening LCs, which shows less import in the recent past. If this trend continues, the much needed development of the country’s industrial base will be in jeopardy, said the ICCB vice president. To face these challenges, concerned officers and authorities must be skilled about trade finance practices, said the ICCB vice president said adding, “The ICC Bangladesh often gets information on fraud activities both from local exporters, importers, institutions and also from the counterparties.” Vincent O’Brien and Digby Bennett who conducted the workshop and ICCB Secretary General Ataur Rahman also spoke on the occasion. A total of 166 participants from banks, financial institutions and export oriented industries attended the workshop and around 49 participants are expected to attend the workshop on the same topic to be held in Chittagong today (Sunday). News:Daily Sun Bangladesh/25-Aug-2013