About Tk 133 crore has been withdrawn from The Bangladesh Development Bank (BDBL). Huge amounts of money are digested through various techniques including non-existent business, overvaluation of security and submission of fake Memorandum of Understanding. The bank took the money through 14 separate loans but did not get it back. All loans are now defaulting.
Bangladesh Development Bank is a public specialized bank in Bangladesh. Learn bank detail with branch information, atm booth locations and career in …
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Corporate Address: BDBL Bhaban, 8 Rajuk Av…
Established: 2009
The loans were issued in violation of the Bank Companies Act, the central bank’s BRPD circular and the loan policy. In the audit report of the government, there are cases of loan fraud. According to the report, some officials of the bank are involved in these incidents. This information has been found in the relevant sources.
No bank has the power to issue loans outside the policy. But at the field level, the bank officials issue many loans without proper verification about the security and the person before giving the loan. The additional secretary (commercial audit, internal and external audit) of the Financial Institutions Division thinks that the danger is happening there. Harun-or-Rashid Mollah. “We instruct the concerned banks to take action if we get a reply from the CAG office on the audit objections,” he said. When the banks responded to us about the action, it was sent to the CAG office. But the ministry has not given any instructions regarding the audit reports that are presented in the Parliamentary Accounts Committee.
The audit report highlighted 14 loan cases of BDBL. It said that there was a deficit in the amount of co-security against the loan. In some cases, non-statutory loans have been renewed against insufficient collateral, including loan sanction, by over-evaluating the collateral. In addition, the branch manager concerned has worked beyond his capacity in the approval and disbursement of loans.
