https://www.profitableratecpm.com/ceq5bqk6?key=d2a447bad94d2fcf6ee51b0af544c773
In just eight years, careless looting erodes once-strong banks.
In the past, Islamic banks were the best in the nation. Compared to dozens of banks below, they were more active in remittance collecting, overseas commerce, investments, and deposit flows.
The banking industry was devastated during the final eight years of the Awami League government. Under the state's support, the bargis directly intervened to remove thousands of crores of taka from the banks during this period. In the past, the bargis shared the public's deposits with the highest governmental and regulatory authorities. No regulations were followed. Anyone might withdraw money from the banks at any time. Consequently, the nation's leading banks experienced a period of weakness. The regular operations of Bangladesh Bank were halted because of the political appointment of the bank's governor and deputy governor, who showed apathy and favoritism. The banks' supervisory efforts fell apart. Some banks' wishes influenced the central bank's supervisory efforts. The central bank would consent even if crucial information was concealed. In actuality, it was necessary to demonstrate that the sensitive data from the bankrupt institutions was of high quality.
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In the past, Islamic banks were the best in the nation. In terms of foreign commerce, investment, deposit flow, and remittance collection from the bottom up, the bank had more partners than dozens of other banks. However, the bank was taken over in secret by the infamous tycoon S Alam in 2017. He was backed by the state apparatus. S Alam, a once-regular businessman, became the banking industry's mafia as a result. He was good friends with Hasina, the former prime minister, and her family. As a result, he was given control of eight of the nation's well-known banks one by one. He started acting recklessly as soon as he gained ownership. Overnight, he dismissed the bank's tried-and-true officials. The officials who stopped him from taking money like water were arbitrarily sacked by him. In addition, a number of police enforcement organizations harassed him. At one point, Mifta Uddin and his PS Akij Uddin took on the position of the head sipahsalar in order to take his money out. JQ Habibullah Gangra, the company secretary, was also involved. Additionally, 1 lakh 13 thousand crore taka was extracted from the Islamic Bank through them. Union Bank, First Security Bank,
At one point, Exim Bank was likewise regarded as a good bank. However, Nazrul Islam Majumder, the bank's former chairman and a dependable businessman of the late Prime Minister Sheikh Hasina, was sitting on Exim Bank like a rock. No attention was paid to dissident directors. Nobody else dared to comment on Majumder's remarks. And for that reason, by pulling money out of it in an anonymous manner, the bank has placed its name among the weaker banks. The Bangladesh Bank report states that Exim Bank's default loan rate is currently at 50%. After Exim Bank borrowed over 4 billion taka from Bank Asia and failed to return the loan, the court ordered the bank's head office to be seized. Exim Bank is one of the five Islamic banks that Bangladesh Bank plans to merge.
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Salman F. Rahman, the counselor to the late Prime Minister Hasina, embezzled funds from IFIC Bank, same like Exim Bank did. Additionally, he stole enormous quantities of money from Janata Bank, which is owned by the state. In this manner, the entire bank was acquired by the Sikder Group from National Bank, HBM Iqbal from Premier Bank, and a group of directors who were somewhat supported by the government.
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