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Agrani Bank, a state-owned commercial bank, was found involved in showing inflated profit through ‘window-dressed’ accounting during the year 2012. A central bank inspection team detected the ‘massive accounting fraud’ while scrutinising the bank’s balance sheet recently, official sources said yesterday. According to the inspection report, Agrani Bank showed an operating profit of Tk 1314.61 […]

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The Agrabad Branch of Mercantile Bank Ltd. (MBL) in Chittagong city has approved a loan of Tk 120.37 crore to a director of the bank in the name of his company breaking the rules of the central bank, officials said. A special inspection team of Bangladesh Bank (BB) found the irregularity in a recent spot […]

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The Anti Corruption Commission has found some 41 commercial banks were involved in the non-funded part of the Sonali Bank loan scam, according to a news source. “During our investigations, we’ve so far found that 41 commercial banks were involved in the non-funded part of the Sonali Bank loan scam. The banks released loans to […]

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DHAKA, MAR 14: Three new banks – South Bangla Agricultural and Commerce Bank Limited, Union Bank and NRB Commercial Bank – have been cleared by Bangladesh Bank to start commercial operations. South Bangla bank was given the clearence last Thursday while Union Bank and NRB banks got their approvals on Sunday. Earlier, the apex bank […]

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The Bangladesh central bank has withdrawn a proposal to make counterfeiting currency notes a capital offence after Germany’s central bank said it would suspend a plan to help the Bangladeshi bank because of the death penalty threat. Bangladesh Bank governor Atiur Rahman said a proposal to impose the death penalty for forgery had been forwarded […]

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Banks pass a gloomy year

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Scams and dull stocks eat into their profit; state banks the worst sufferers Banks ended 2012 on a gloomy note as the recent scams and a sluggish stockmarket brought down their operating profit growth to only 0.56 percent. A total of 34 banks made a profit of Tk 18,660 crore, which was Tk 18,556 crore […]

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35 officials of Sonali, other business entities sued

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The Anti-Corruption Commission on Tuesday filed 26 cases against 35 top officials of Sonali Bank and five business entities for misappropriating more than Tk 345 crore of depositors' money. The names of Hall-Mark Managing Director Tanvir Mahmud and General Manager Tushar Ahmed were also included in the cases on charge of abetting the five companies […]

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Misdeeds at BASIC Bank

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Top auditor finds anomalies cost the state bank Tk 100cr The BASIC Bank rules did not allow a branch manager to create any temporary overdraft (TOD) opportunity in favour of current account holders without approval from the head office. But that is exactly what the bank's Gulshan branch manager did in 2005. The manager made […]

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BB opens gateway to e-commerce

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Launches National Payment Switch to facilitate online transactions; new system to bring credit/debit cards of all banks under a single network Bangladesh Bank Governor Atiur Rahman shows a banknote at the launch of a national payment switch at the central bank in Dhaka yesterday. The new system will accelerate e-commerce in Bangladesh. The central bank […]

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The government appointed 31 directors of seven state-run banks and financial institutions yesterday. Former government officials, at the level of joint secretaries, dominated the appointment. With this, 21 out of 26 vacant posts of directors at Sonali, Agrani and Janata banks are now filled. However, 15 directorial posts at state-run banks and financial institutions are […]

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JS probe finds up to Tk 400cr invested, rest of the money remains traceless; suggests grilling Hall-Mark boss for answer Sajjadur Rahman and Shakhawat Liton Controversial business group Hall-Mark invested only Tk 300-400 crore from the nearly Tk 2,700 crore it had fraudulently taken in loan from Sonali Bank. A government probe committee that was […]

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Analysts at the roundtable say the service needs further promotion, coordination Participants take part in a roundtable on mobile financial services at The Daily Star Centre in Dhaka yesterday.Photo: STARStar Business Report Bangladesh can use mobile financial services not only to accelerate financial inclusion, but also to bring more than 85 percent unbanked population to […]

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