BB asks banks to devise plan for Beximco, Bashundhara
Thursday, 4 October 2007
Bangladesh Bank (BB) Wednesday instructed a few commercial banks to devise suitable transaction mechanisms for Beximco and Bashundhara groups to facilitate their businesses in absence of the detained owners, reports UNB.
The instruction was given amid requests that the two large business conglomerates were facing enormous difficulties in running their day-to-day business affairs, a senior central bank official said.
Sources said, the groups have formed interim managing committees to run the business affairs, as their owners were detained under the government's anti-corruption drive on heavy corruption charges.
But, they added, the committees have no authority to sign the bank documents, particularly the cheques, causing immense sufferings to the businesses.
"We've instructed five to six banks to do as much as possible for the business groups to help continue their business affairs," BB Governor Dr Saleh Uddin Ahmed told the reporters.
Replying to a question, he said, even more legal complexities might emerge to operate the banking activities of the business groups, which could be sorted out later. "We'll sit together for finding out suitable solutions of the problems."
The instruction was given amid requests that the two large business conglomerates were facing enormous difficulties in running their day-to-day business affairs, a senior central bank official said.
Sources said, the groups have formed interim managing committees to run the business affairs, as their owners were detained under the government's anti-corruption drive on heavy corruption charges.
But, they added, the committees have no authority to sign the bank documents, particularly the cheques, causing immense sufferings to the businesses.
"We've instructed five to six banks to do as much as possible for the business groups to help continue their business affairs," BB Governor Dr Saleh Uddin Ahmed told the reporters.
Replying to a question, he said, even more legal complexities might emerge to operate the banking activities of the business groups, which could be sorted out later. "We'll sit together for finding out suitable solutions of the problems."