Loan scam: BB to intensify monitoring, ACC launches probe against Ananda

FE Team | Published: April 29, 2014 00:00:00 | Updated: November 30, 2026 06:01:00

Bangladesh Bank (BB) is strengthening its monitoring adopting the latest IT (information technology)-based system to make foolproof its surveillance on the banking sector, report agencies.
"The central bank initiated strengthening of its monitoring after some big credit scams by Hallmark and some others," BB executive director Mohammad Naushad Ali Chowdhury told the news agency.
He said the on-going monitoring would be strengthened further with the latest information technology so the central bank can efficiently and effectively check irregularities in the banking sector.
As part of the initiatives, modern information technology would be adopted in the current monitoring system to take it to the global standard, the executive director said.
The central bank in October last year introduced Integrated Supervision System (ISS), a web-based monitoring tool, to prevent irregularities in the banking sector.
Using the software, the BB integrated information of banks' overall activities including balance sheet exposure, off-balance sheet exposure, credit operation, foreign exchange business, money market operation and regulatory compliance. The ISS also helps the central bank collect the financial statements on monthly basis from all bank branches across the country.
Besides introducing the online monitoring system, the central bank started providing its staff with global-standard training so they can operate the latest IT- based monitoring system, the executive director said.
He said the central bank also constituted some strong groups of skilled high officials for stronger monitoring.
Meanwhile, the Anti Corruption Commission (ACC) has launched a probe into the allegation of swindling out about Tk 13 billion (1,300 crore) from 14 commercial banks and financial institutes by Ananda Shipyard, a ship exporter.
The ACC recently appointed its deputy director Zainal Abedin Shibly as an inquiry officer to conduct the probe into the graft allegation," ACC deputy director Pranab Kumar Bhattacharya told UNB.
According to the graft allegation received by the ACC, Ananda Shipyard took loans of Tk 13 billion from 14 commercial banks and financial institutes showing fake documents. The banks disbursed the loans violating banking rules where the ship exporter had no experience to build ships.