BB fines Janata Bank Tk 50,000

The central bank fined Janata Bank Limited (JBL) Tk 50,000 Tuesday for its failure in timely settlement of acceptance bills against imports, officials said.
The Bangladesh Bank (BB) has sent a letter to JBL in this connection.
"We've imposed the fine for the first time on the state-owned commercial bank due to its non-compliance with the rules and regulations relating to settlement of bills of acceptance against imports," BB deputy governor Nazneen Sultana told the FE.
"We're now monitoring all kinds of foreign exchange transactions using 'dashboard', an electronic system to know the actual position of the transactions instantly," she explained.
The dashboard provides summary of export, import, inland back to back letter of credit (LC), inward and outward remittance with categorically separated details.
The central bank earlier warned the commercial banks that it would impose fine on them, if they fail to settle their inland and foreign bills of LCs timely.
Talking to the FE, another BB official said the central bank has taken the measures to improve the country's image in the global market.