The central bank has decided to intensify its drive against irregularities in the country's banking sector by using latest information technology (IT) systems in inspection work.
Officials said the decision was taken at a coordination meeting among the senior officials of different departments relating to inspection and supervision at the central bank headquarters on Monday.
Bangladesh Bank (BB) Governor Dr Atiur Rahman presided over the meeting, where the officials were asked to remain alert against various irregularities, particularly in the state-owned commercial banks (SoCBs).
"We've been asked to take stern actions against deputy managing directors (DMDs), MDs and board of directors of the commercial banks and non-banking financial institutions (NBFIs) in line with the existing Banking Companies Act, if found guilty of any irregularities," a senior BB official told the FE after meeting.
He also said the officials have been also instructed to recommend appointing administrators or observers to troubled banks and NBFIs, if necessary.
"We're showing zero tolerance against irregularities and corruption in the country's banking system," the central banker noted.
The meeting also discussed the use of latest IT systems to check fraudulence and forgery in the sector, considering the latest diversification in foreign exchange (forex) activities.
The officials have been directed to take help from 'dashboard', an electronic system, before starting their inspection, particularly of irregularities related to forex dealings.
The central bank earlier launched the system for monitoring all kinds of forex transactions to check fraudulence and forgery.
"We're strengthening our supervision and monitoring on foreign exchange transactions through coordinating on-site and off-site supervisions of the central bank," another BB official said.
He also said the officials have been asked for taking necessary measures to check diverting loans from one sector to another.
"We've already taken a series of measures to expedite monitoring and supervision of cross-border foreign-currency transactions to check fraudulence and forgery in the country's banking sector," he added.
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