Bangladesh Bank has withdrawn the action it had taken against the treasury heads and managing directors (MD) of six major banks for allegedly making excessive profits in dollar trading. At the same time, they have been given the opportunity to take the profit they made from the dollar market in the last May-June as bank income. And through this, Bangladesh Bank has moved away from strict and ‘wrong policy’ regarding dollar price and dollar market.
Before this, however, several misguided policies led to chaos in the dollar market. At one point multiple dollar rates were also fixed. As a result, the cost of imports increases, which has an impact on inflation. Again, due to taking action against six banks, there is a crisis of confidence in the banking system of Bangladesh. It increases the crisis.
The banks against which action was taken are private sector Prime Bank, BRAC Bank, The City Bank, Dutch-Bangla Bank, Southeast Bank and foreign sector Standard Chartered Bank. In a letter signed by the Director of Banking Regulations and Policy Department of Bangladesh Bank, Bank Six was informed yesterday of the new decision.