The Anti-Corruption Commission (ACC) has requested Bangladesh Bank Governor Ahsan H Mansur to take necessary steps to temporarily freeze all bank officials' safe deposits in lockers in its vault. A letter, signed by ACC Director Kazi Sayemuzzaman, has been sent to the central bank governor on Tuesday, ACC Deputy Director Akhtarul Islam told UNB. Finance Adviser Dr Salehuddin Ahmed agreed on the need to freeze the lockers at a meeting with ACC Chairman Dr Mohammad Abdul Momen on January 30. As per the ACC letter, ACC officials, in the presence of an executive magistrate, found 55,000 euro, $1.70 lakh, FDR worth Tk70 lakh, over one kilogram of gold in three sealed cans of former BB deputy governor Sitangshu Kumar Sur Chowhdury. The information of the assets were not mentioned in the income tax returns, it said. A review of the locker registers revealed sealed safes operated by some other BB officials as well, the ACC said in the letter. On 27 January, a Dhaka court showed SK Sur arrested in a money laundering case filed by the ACC. ACC finds foreign currency, gold, FDR documents in Sur’s lockers The case was filed by the ACC on 26 December 2018 against Hallmark Group employees Tusher Ahmed, Mohammad Aslam Uddin and Sumon Bhuiyan for making suspicious transactions of Tk13.50 crore, allegedly amassed illegally, transferring the money to conceal its source. Sur was detained by the ACC with the help of the Detective Branch (DB) of police from Dhaka's Segunbagicha area on 14 January while the ACC recovered documents of Tk16.25 lakh and fixed deposits worth Tk4.5 crore from SK Sur's Dhanmondi house on January 19. In response to a letter from the ACC on January 23, the central bank informed the agency that SK Sur had kept valuables in three lockers at the bank. SK Sur retired as the deputy governor of the central bank in January 2018. As per rules, personal valuables of retired or working employees are kept in Bangladesh Bank's lockers, in packets or boxes in their names, sealed for 20 years from the date of the deposit.

Bangladesh Bank Governor Dr Ahsan H Mansur has called on businesses across the country to ensure proper compliance with regulatory frameworks, emphasising that the central bank will remain vigilant in monitoring adherence to financial guidelines. Dr Mansur made the remarks during a courtesy meeting with the Board of Directors of the Dhaka Chamber of Commerce & Industry (DCCI), led by its President Taskeen Ahmed, at the Bangladesh Bank headquarters on Thursday. Businesses’ Concerns During the meeting, DCCI President Taskeen Ahmed highlighted the difficulties faced by businesses, particularly in light of the recent hike in VAT and tax rates, which he said have intensified economic pressures. “The high bank interest rates are significantly increasing the cost of doing business,” he remarked. Taskeen Ahmed suggested that lowering interest rates could facilitate the flow of credit to the private sector and stimulate investment. NBR reforms possible, but can’t be done overnight: Mazid He also addressed the challenges encountered by small and medium-sized enterprises (CMSMEs), pointing out that complex documentation requirements for accessing the Credit Guarantee Scheme often leave entrepreneurs struggling to secure necessary funding. Proposals for Economic Relief In response to the current economic climate, Taskeen Ahmed proposed extending the loan classification period by at least three to six months to provide businesses with more time to adjust and improve repayment capabilities. Additionally, he called for relaxing some of the stringent policies surrounding the establishment of overseas business offices, which he believes would encourage export and investment activities. Bangladesh Bank's Response Governor Dr Mansur assured the DCCI delegation that Bangladesh Bank has been taking proactive measures to manage inflation and stabilise the market. He expressed optimism that these efforts would soon yield positive results, especially with inflation expected to decrease in the coming months. "We have directed banks to open letters of credit (LCs) without margin requirements to help stabilize the prices of essential goods, particularly ahead of Ramadan." Bangladesh Bank considering policy rate hike as living costs soar Regarding currency stability, Dr Mansur reassured the business community that there is no shortage of dollars in the market. He noted that while Bangladesh Bank does not control the exchange rate, it closely monitors the market to ensure dollar price stability. “The exchange rate is determined by the forces of supply and demand, but we are committed to ensuring the stability of the dollar in the market,” he said. Interest Rates The Governor mentioned that if inflation falls to around 7% by June-July 2025, bank interest rates could potentially decrease, benefiting businesses in the long term. In response to the DCCI President's request, Dr Mansur confirmed that Bangladesh Bank would review the possibility of extending the loan classification deadline and relaxing the conditions for setting up overseas business offices. Savings Certificate sales resume While expressing his commitment to supporting the business community, Dr Mansur urged businesses to strictly adhere to regulatory frameworks to ensure the stability and growth of the economy. “We will be strict about compliance, and businesses must adhere to regulations to maintain a healthy financial ecosystem,” he said. Senior officials from both Bangladesh Bank and DCCI, including DCCI Senior Vice President Razeev H Chowdhury and Vice President Md Salem Sulaiman, were present at the meeting.  

Bangladesh Bank (BB) Governor Dr Ahsan H Mansur on Saturday said that money laundering from the country has been halted due to the implementation of good governance in the banking sector. “Despite political unrest, remittance inflows have increased by $3 billion and exports by $2.5 billion over the last five months, marking a historic milestone in December,” said Dr Mansur while speaking at a programme titled ‘Branding Bangladesh: NBR and UN Peacekeepers Leading the Way’, held at a hotel in the capital on Saturday. BB Governor reveals laundered money figures, reaffirms efforts to recover  Besides, he said, the government is spending Tk 7,000 crore annually on a 2.5 percent incentive to encourage remittances through official banking channels. The Governor highlighted that remittance inflows through legal channels could rise further if intermediaries benefitting from the system are eliminated. “At present, expatriates are sending remittances equivalent to around Tk 4,000 crore on average each day. This figure could double if middlemen are removed and the skills of Bangladeshi workers are enhanced,” he said. Dr Mansur urged expatriates to send money directly through banking channels, cautioning that Dubai has overtaken Saudi Arabia as the leading source of remittances. “This is not a positive trend, as money from Saudi Arabia is being routed to Dubai before reaching Bangladesh. Certain institutions in Dubai are exploiting this opportunity to manipulate currency exchange rates.” In response to a question from journalists, the governor revealed that “a single group based in Chittagong has laundered $20 billion abroad. Efforts are underway to recover these funds, with foreign assistance being provided.” Former ED Ahsan Ullah joins central bank as advisor to the Governor He said discussions are going on with international agencies, including the Federal Bureau of Investigation (FBI) in the United States, to repatriate the laundered money. Foreign lawyers are also being appointed to support the process. Highlighting progress, Dr Mansur mentioned that 80 percent of the stolen reserve money has already been recovered, and legal proceedings are underway to retrieve the remaining funds. “I am confident that Bangladesh will win the case,” he said. Foreign Affairs Adviser Md Touhid Hossain also addressed the event.

Bangladesh Bank Governor Dr Ahsan H Mansur has said that several banks, which were on the brink of bankruptcy, are now making significant strides in recovery due to strengthened regulatory measures and improved management practices. “Banks are not private or family entities; they belong to everyone. Depositors are the true owners of banks. Among the 10 banks that were on the brink of bankruptcy, many have managed to bounce back,” Dr Mansur said while speaking at the inauguration of Islami Bank Bangladesh PLC’s 400th branch in Ghatail, Tangail, on Saturday. The Governor also addressed issues of money laundering, assuring that efforts are underway to retrieve assets from those who have fled abroad with illicit funds. Bangladesh Bank sets maximum age limit to join NBFI jobs at 32 years  About inflation, Dr Mansur said, “Inflation remains high, but we are working to bring it down. By June next year, we aim to stabilise the rate to a more acceptable level.” Islami Bank Praising Islami Bank’s achievements, Dr Mansur said, “Islami Bank is the leading bank in the country. It holds the trust of millions, and its progress is vital for the nation’s economy. Within the last five months, Islami Bank has substantially improved its position, attracting Tk 7,000 crore in new deposits and maintaining its top position in remittance collection. This bank will not look back.” The Governor expressed optimism about reinstating foreign investors, emphasising that Islami Bank has the potential to grow tenfold and reclaim its status as an international institution. Bangladesh Bank ready to ensure enhanced cash flow: Dr Yunus The inauguration ceremony, presided over by Islami Bank Chairman Obaid Ullah Al Masud, highlighted the bank’s expansive network, with 400 branches, 265 sub-branches, over 2,800 agent outlets, and more than 3,000 ATMs and CRM machines across the country. Islami Bank Bangladesh PLC continues to set a benchmark in the banking sector, driving rural and urban economic growth while upholding its commitment to Shariah-based and welfare-oriented banking.