Constitute commission free of BB influence: TIB
Transparency International Bangladesh has demanded constitution of a banking commission completely free from the influence of the central bank.
The anti-graft agency made the demand in a media statement issued on Thursday (Nov 7).
The statement described the decision to form a banking commission to bring reforms in the sector, plagued by defaulted loans and irregularities, as positive but said the decision will be ‘meaningless and imprudent’ if it is constituted under Bangladesh Bank.
Referring to media reports, TIB Executive Director Dr Iftekharuzzaman said the government is going to form a banking commission under the central bank for reforms in the sector.
“We believe the commission under Bangladesh Bank will be a careless, meaningless and imprudent decision. Because Bangladesh Bank has failed to play an effective role in controlling the banking sector, which has now on the verge of collapse, he said.
Iftekharuzzaman said the commission under the central bank will lead to a conflict of interest and frustrate the objectives of the commission.
Observing that the banking sector has been hostage to vested interest groups, he said the commission must be independent and comprise experts in the sector.