Bangladesh Bank

By Nadim Naimur Rahman, Dhaka Housing, Shyamoli, Dhaka
21 December 2003, 18:00 PM
I am writing this letter to appreciate the steps taken by the Bangladesh Bank (BB) to fine 13 branch managers of six private banks for providing more than the declared interest rates to depositors.

I am utterly disappointed at what the managers have done and would like to condemn the act to the fullest. I would like to congratulate the BB for taking such a timely step in this regard. Besides all these positive steps, I must say that the fines imposed on them are very minimal compared to the income of the managers. In fact, a fine of only Tk 2,000 makes a mockery of the whole event. I think the BB should rethink their fining policies so that these unscrupulous managers cannot get away lightly.

Finally, I would urge the BB authorities to look into the matter more deeply as there might be more fish still left in the water. I hope that these recent steps would be a deterrent to all dishonest bankers.