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Dollar manipulation: Six banks' MDs served show-cause notices

Published : Thursday, 18 August, 2022 at 2:59 PM  Count : 751

Dollar manipulation: Six banks' MDs served show-cause notices

Dollar manipulation: Six banks' MDs served show-cause notices



Bangladesh Bank (BB) has issued show cause notices to the managing directors (MDs) of six banks for their alleged involvement in dollar manipulation.

Besides, investigation is going on against 12 other banks on the same allegation.

After the removal of the treasury head of 6 banks, the central bank issued the show- cause notices against the MDs.

The BB took a week for examining the authenticity of the collected documents and then issued the show -cause notices on Wednesday. According to a BB source, a dozen more banks have been brought under the investigation. For this, foreign exchange transaction information has been sought from all these banks.

Md Sirajul Islam, executive director and spokesperson of BB told UNB that action is being taken against the MDs of six banks due to their involvement in the dollar manipulation.

The six banks are: Dutch-Bangla Bank, The City Bank, Prime Bank, Southeast Bank, Brac Bank and Standard Chartered Bangladesh.

"Some other banks have been brought under investigation. Action will be taken against those banks if found guilty in the central bank investigation," he said.

TF








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