TIB airs concern over proposal to formulate Bank Reporting Act

Terming the proposal of Bangladesh Association of Banks (BAB) for formulating the Bank Reporting Act as illegal, Transparency International Bangladesh (TIB) expressed deep concern over it, reports UNB.

In a statement, TIB executive director Dr Iftekharuzzaman said on Monday BAB proposed the act to prevent media from disclosing any kind of negative news on the banking sector as it thinks such news affects the confidence of the clients.

Terming it as a dreadful move and anti-public proposal, he said such an act will encourage irregularities and corruption in the banking sector.

"Bank Reporting Act is needed, but not to create obstacles on the way to disclosing information on corruption, irregularities and frauds, rather to create an environment so that such information can be disclosed freely," said the TIB executive director.

Claiming that the people have the right to get all sorts of information of corruption as well as positive ones of private banks, he said, the banking sector has no right to confuse people and spread corruption by creating obstacle to disclose information.

TIB also stressed the need for forming an unbiased advisory committee to take effective measures and to identify short term, mid-term and long term strategy ensuring participation of all stakeholders to solve the ongoing crisis of private banking sector.