Some 51 corrupt officials of 13 private banks have misappropriated Tk. 29.67 crore over the last 15 years, according to a document obtained by The Independent from the Bangladesh Bank (BB). Of the total amount, banks’ stake is Tk. 19.52 crore, Tk. 6.34 crore of the government and Tk. 3.63 crore of clients of the banks.

Some of the officials involved in alleged misappropriation of the huge money are still in service while some others are under ‘temporary suspension.’ Departmental cases are pending with the courts. 

Meanwhile, the Anti Corruption Commission (ACC) is investigating into all the cases.

While talking to The Independent last week, ACC chairman Ghulam Rahman said officials of the commission are working on it and the next course of actions will be initiated after completion of investigations.

He told The Independent that the commission was often receiving complaints of misappropriation of money by bank officials which is alarming with regard to discipline of the country’s financial sector.
“Recently, complaints against bankers regarding services and honesty is on the rise and I think the respective management of each bank should strengthen the functions of supervision to check it,” Rahman said.

Regarding the investigation, the ACC has informed officially the ministry of Finacne and Public Administration. Later, the ministry of finance has sent a letter to the central bank requesting to dig out the severity of corruption in other banks. 

A BB official, seeking anonymity, said the central bank accordingly has asked managements of all the banks to take initiatives to check embezzlement of public money and that of the bank clients; and to save respective bank from incurring loss of money.

“The BB is constantly monitoring the ‘stress testing’ strength of the banks and it is a routine duty. But, bank itself should take appropriate initiatives in this regard,” said the official.

Meanwhile, a top official of a private bank has said recovery of the embezzled money could not be commenced because of non-disposal of cases.

“In my view, it will not be possible for a bank management to check such corruption without proper training on integrity and proper discharge of duties by its officials,” said the official, wishing not to be named.  

Meanwhile, banks incurred loss of money due to corrupt officials are Uttara Bank Ltd, AB Bank Ltd, Islami Bank Ltd, Pubali Bank Ltd, United Commerce Bank Ltd, Prime Bank Ltd, Social Investment Bank Ltd, Southeast Bank Ltd, Bangladesh Commerce Bank Ltd, Bangladesh Development Bank Ltd, Commerce Bank of Ceylon and Jamuna Bank Ltd and Al Baraka Bank.      

Besides, three Grameen Bank (GB) officials have embezzled around Tk. 20 lakh by preparing fake documents. The report does not mention whether the sum is owned by GB itself or its clients.

The Independent/Bangladesh/ 12th April 2012