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BB officials face show-caused for info leak on scams

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BB liabilities

At least 10 officials of the Bangladesh Bank (BB), ranging from department joint directors to executive directors, have been served with show cause notices over media reports on the central bank, according to BB sources.

The notice held the officials responsible for “press leaks”, according to multiple officials who have been served with the show cause notice.

They said an explanation has been sought as to why they shared the information with journalists.

“For around a month, senior officials have been summoning and scolding us whenever a report on the central bank gets published. They are threatening the staff to transfer or even firing from their posts,” said one of the officials while talking to the news report on the condition of anonymity.

The official said the number of central bank staff who face the show cause notice is more than ten.

Subsequently, directors of three departments were served with show cause notices, according to BB sources. At the same time, a deputy governor scolded several officials after summoning them to his office.

The central bank quizzed several officials as a recent media report suggested the Social Islami Bank Limited fakes its 23pc defaulted loans to only 5pc, said central bank sources.

Recently, the central bank has banned journalists from some departments without prior permission. Officials of other departments are also avoiding the press.

“We have been instructed not to let any journalist in, let alone share any information with the press,” An official of the Banking Regulation and Policy Department told on condition of anonymity.

“Even if we don’t talk to reporters, they [senior officials] suspect us,” added the official.

However, Bangladesh Bank spokesperson Serajul Islam said he was unaware of issuing such any show cause notice over media reports.

“Everyday journalists are coming to the Bangladesh Bank and collecting information. No one told me about such an incident,” he said.

 

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Economy

Remittances Top $2bn in First 28 Days of September

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remittance

Expatriate Bangladeshis sent approximately US$ 2.11 billion in remittances during the first 28 days of September in the fiscal year 2024-25, according to data released by Bangladesh Bank on 29 September.

Of this total, state-owned and specialised banks handled $679.10 million, while private banks received $1.43 billion in remittances.

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Economy

Yunus Pledges Swift Reforms and Election in Bangladesh’s Interim Govt

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Yunus

Chief Adviser to Bangladesh’s interim government, Professor Muhammad Yunus, has vowed to expedite reforms and hold elections swiftly. Yunus, who recently assumed the role after the collapse of Prime Minister Sheikh Hasina’s 15-year administration, expressed his commitment during an interview with Tokyo-based news outlet NHK WORLD in New York on Sunday. He was attending the United Nations General Assembly at the time.

Following mass student-led protests that ended Hasina’s long-standing rule in August, Yunus stepped in as the leader of the caretaker government. Known for founding Grameen Bank, an institution providing microloans to the underprivileged, Yunus, along with the bank, earned the Nobel Peace Prize in 2006 for his efforts in poverty alleviation.

During the interview, Yunus emphasized that the interim government’s primary mission is to implement reforms promptly and ensure elections are held as soon as the groundwork is complete. He underscored the importance of success, stating, “Failure is not something that we can accept.”

Addressing the pivotal role of students in the ousting of the Hasina administration, Yunus acknowledged the sacrifices made by young people, referring to their involvement as part of a “revolution.” He highlighted his intention to engage the younger generation in shaping policy.

Furthermore, Yunus called for continued support from Japan, Bangladesh’s largest donor, during this crucial transition period. He stressed that Japan’s assistance is vital to stabilizing Bangladesh’s economy and fostering a democratic foundation in the nation.

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Economy

Polythene Bags to Be Phased Out, Says Environment Adviser Rizwana Hasan

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polythene rizwana hasan

Syeda Rizwana Hasan, the Adviser for Environment, Forests, and Climate Change, announced today that steps will be taken to restrict the use of polythene shopping bags to safeguard future generations.

Starting from October 1, polythene bags will be banned in shopping malls, followed by a ban in kitchen markets from November 1.

“Everyone must take responsibility and stop using polythene voluntarily. Action against polythene producers will begin from November 1,” Rizwana Hasan stated during a seminar.

The Department of Environment (DoE) organized the seminar to raise public awareness about alternatives to banned polythene bags.

Rizwana Hasan highlighted that the restriction on polythene will be executed in phases according to legal provisions, and discussions with shopping centers and store owners are ongoing to ensure a smooth transition.

She also announced plans to make the government secretariat a plastic-free zone by December.

Other speakers at the seminar included Environment Secretary Dr. Farhina Ahmed, DoE Director General Dr. Abdul Hamid, Director Rajinara Begum, President of the Shop Owners Association Muhammad Helal Uddin, and Md. Arifur Rahman Bhuiyan, Assistant Professor of Environmental Science at BUP. They discussed the harmful effects of polythene and the need for alternative products.

Earlier, Rizwana Hasan inaugurated a fair showcasing eco-friendly alternatives to polythene bags and visited 24 stalls. The fair featured products from government and private entrepreneurs, including reusable bags, jute bags, paper bags, and items made from bamboo and cane.

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