Saturday, 21 April 2018
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State-Owned Commercial Banks Losing Grip From Foreign Economy

Reported by: Jafar Ahmad

Written by: Eshan Maitra

State-Owned Commercial Banks are becoming inapt in putting any contribution in foreign economy. 27% of the import expenses were wired through these banks in 2011. But it has come down to 7% only. Whether, other private commercial banks’ use in the import expenses wiring increased from 64-85%.

Bangladesh Institute of Bank Management (BIBM) shared such reports yesterday, at the ‘Trade Service Operations of Banks’ review workshop at BIBM Auditorium. BIBM General Director Dr. Towfiq Ahmad hosted the event. Including Bangladesh Bank Deputy Governor SK Sur Chowdhury as the chief guest of the event, many other were present as well.

Dr. Towfiq Ahmad strongly stated that, the State-Owned Commercial Banks has lots of scope to improve about. BIBM also reported alarming facts about, how massively this diversity is letting the smuggling of country’s currency through these private commercial banks. Corruptions & economic crimes are getting safe-passage opportunities. Falsified invoice, shipment and descriptions of the imported items, being occurring often.

BB Deputy Governor agreed of these conditions mentioned by Dr. Towfiq Ahmad. SK Sur said that, authorities are aware & at strict stance to tackle any kind of irregularities.

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