BPC probes Tk 4,813cr deposits in troubled banks

 
The Bangladesh Petroleum Corporation (BPC) has formed a seven-member committee to investigate Tk 4,813.32 crore deposited by the state-owned corporation and its subsidiaries in financially distressed private banks, amid concerns over possible irregularities and the safety of public funds.

The committee will examine how the deposits were made, who recommended the transactions and what considerations influenced the selection of the banks. 

It will also investigate whether officials involved received personal benefits, bribes or commissions through unethical dealings, particularly in connection with unusually high interest rate offers.

According to an office order issued on November 3 and signed by BPC Secretary Shahina Sultana, the committee has also been tasked with recommending measures to recover the funds held in fixed deposit receipts (FDRs) at the troubled banks.

Naznin Parveen, BPC director (finance), has been appointed convener, while Shahina Sultana will serve as a member.

The other members are Reza Md Riazuddin, general manager (marketing) of Meghna Petroleum Limited; Md Shafiul Azam, deputy general manager (audit) of Padma Oil Company PLC; Kabir Uddin Ahmad, deputy general manager (cost and management) of Eastern Refinery PLC; and Mohammad Abu Said, manager (accounts) of Jamuna Oil Company PLC.

Md Al-Amin, BPC manager (accounts/fund), has been appointed member secretary.

The committee will also recommend safeguards to protect BPC and its subsidiaries' deposits in the future, including a framework for selecting banks based on their financial health and reliability.