Home Today's Paper Most Popular Video Gallery Photo Gallery
Subscription Blog Signin Register
Logo
Friday, November 16, 2018 11:01:19 PM
Follow Us On: Facebook Twitter Twitter Twitter Twitter

News analysis

Motive behind bank heist!

By Special Correspondent
10th-Mar-2014       
Comments
Share your thought
Post a comment »
Read all () »

Another burglary at Sonali Bank's Adamdighi branch in Bogra district happened on Saturday just over one month of a similar burglary cutting a similar tunnel to Sonali Bank's Kishoregonj town branch raising serious question about why it is happening time and again and why the management is consistently failing to protect the vaults.
Burglars took away Tk 32 lakhs from the Adamdighi branch cutting a tunnel from a furniture shop nearby in Friday night. The use of similar technique has also raised the question whether an organized group is at work to prove the Sonali Bank management's failure to raise question about running the bank in the public sector.
Experts made skeptical comments on what may be the possible far reaching motives behind these outwardly plain burglary cases. There is something fishy - either wrong persons are authorized to run the bank or wrong versions are given every time after such theft occurred about the arrest of the culprits. People doubts the statements.  The question is: If there is any influential group working from behind and why Sonali Bank has become a consistent target.  
They have also raised questions about the competence of Bangladesh Bank authorities and the management of Sonali Bank in particular in running the country's biggest bank.
Why both the regulator and the bank itself are consistently failing is the big question. One may tend to suspect, either they may be working for the third party's interest or they must leave the position accepting their capacity shortfall to run big banks.
Political nominees are not good choices to run public sector banks and financial institutions because they remain loyal to party interest or instructions from the party. The present governor of Bangladesh Bank has proved it beyond all doubts.
He had information of the Hallmark scam at least one year before its disclosure to the media and yet he did not act apparently to show his loyalty to party bigwigs who had a hand behind it.    
What is happening now has never happened before in the bank. It started with the disclosure of the swindling of the bank's Tk 36,00 crore by the Hallmark Group allegedly under the cover of a senior adviser to the Prime Minister..
The Anti-Corruption Commission never bothered to question him for the big fictitious loans he reportedly facilitated with the help of some Sonali Bank board of directors who were politically appointed. The ACC also neither  took any board member for questioning which may have facilitated the safe corridor to swindle public sector banks time and again.
Some other big swindling cases were also unearthed on that occasion such as the loan scams of Bismillah Group involving not only state owned banks but also some private sector banks. The big question is why the entire banking sector is target of swindlers. It could never happen if the perpetrators are boasted by a sense of impunity.   
Commenting on the renewed burglary at Adamdighi branch of the Sonali Bank former governor of Bangladesh Bank Dr Salehuddin Ahmed said "It's a flagrant example of management failure. Otherwise, why such incidents occur time and again.
He told The New Nation last night that the authorities of Sonali Bank have not only miserably failed to ensure safety compliance measures within the bank but also showed reluctance in infusing dynamism in its board.  
Not only Sonali Bank but other state-owned banks are also run by inefficient management with highly incapable persons, he said adding that the government political appointment on bank's board of directors is further destabilizing the situation.
He said had the Bangladesh Bank and the government on top of it were able to punish bank officials and board members responsible for previous swindling, the recurrence could have been stopped.
Referring to the Hallmark scam, he said, the officials who helped the unknown business group are yet to be punished.
He held the regulatory bodies responsible for the easy swindling of the bank money. The whole governance system of the public banking sector has collapsed and it requires to renewed build up with dynamic management. Private banks may face similar fate, he feared adding sooner we can rebuild the sysyem the better.

Tariff
Add Rate

News Archive

Inside The New Nation

Editorial »

Mass awareness needed if NBR wants more people under tax net


THE countrywide 'Income Tax Fair -2018' has already drawn a huge crowd. The authorities hope more people would be brought under tax net this year too. Finance Minister AMA Muhith while inaugurating the fair said out of country's 16 crore population, the number of taxpayers is around one crore. There ...

International »

US could lose war against Russia or China, warns panel


AP, Washington :The United States military has "lost its edge" and could potentially lose a war against Russia or China, a report by a bipartisan panel established by Congress says.The report by the National Defense Strategy Commission on November 14 said U.S. military superiority has "eroded to a dangerous degree" ...

Football »

Switzerland`s Kevin Mbabu (left) is challenged by Qatar's Abdelkarim Hassan during an international friendly soccer match between Switzerland and Qatar at the Cornaredo stadium in Lugano, Switzerland on Wednesday.


.

City »

Bangabandhu Sangskritik Jote formed a human chain in front of the Jatiya Press Club on Thursday in protest against setting fire on police van in front of the BNP Central Office in the city's Nayapalton.


.

Entertainment »

Why Shraddha Kapoor likes Chhichhore


Shraddha Kapoor commences the shoot of her upcoming film Chhichhore.  Shraddha took to her twitter handle on Wednesday morning and announced, “Time to get back in to it! Excited to start a new journey. Day 1 for me on #Chhichhore?? @NGEMovies @niteshtiwari22 @itsSSR.” Earlier, The first look poster of Chhichhore ...

Entertainment »

Jaya Ahsan coming with Beauty Circus


Entertainment Report :Jaya Ahsan has already proved herself as an actress not only in Bangladesh but also in Kolkata. Now she is one of the busiest actors in Indian Bangla cinema whose commitment to her craft has taken her places including a circus. Jaya’s latest Bangladeshi film Debi, which also ...

Entertainment »

Bijori takes break on her birthday


Sheikh Arif Bulbon :Bijori Barkatullah was one of the popular TV actresses of her generation. She is not only an actress but also a dance artiste, model and host. Today is her birthday. She takes break on her birthday. Before birthday she also worked. Bijori informed that yesterday she took ...

Sports »

Rooney excited to see what `fearless` England are capable of


AFP, Burton-On-Trent :Wayne Rooney will make his final farewell as England's greatest ever goalscorer in a friendly against the United States on Thursday, but is excited at what a young squad can achieve under "fearless" coach Gareth Southgate in the years to come.Rooney, 33, made the last of his 119 ...

Sports »

Shoulder injury rules Jason Holder out of Bangladesh tour


Agency :Windies suffered a big blow as captain Jason Holder was ruled out of the Bangladesh tour with a shoulder injury. Holder is said to have suffered the injury during the recent tour of India, and will need at least four weeks to recover from the setback."Jason has a partial ...

Editorial »

Time for fixing banking irregularities


THE Bangladesh Bank's role as the custodian of the production and distribution of money and credit in the economy has been eroded by the finance ministry in the past decade. It's not a common people's remark. Rather, it came from a Director of the central bank while addressing a meeting ...

Sports »

Los Angeles Clippers guard Sindarius Thornwell (left) and Golden State Warriors forward Draymond Green scramble for a loose ball during the first half of an NBA basketball game in Los Angeles on Monday.


Football »

Rooney excited for 'great moment' in England farewell


Wayne Rooney says he is honoured to make a final appearance for England and happy for manager Gareth Southgate to decide his playing time Thursday against the United States.Former Manchester United star Rooney, in video comments released Monday by his Major League Soccer club DC United, detailed his excitement at ...

City »

Chief Election Commissioner KM Nurul Huda, among others, at a press briefing for returning officers on the occasion of eleventh parliamentary election in the auditorium of Election Commission Secretariat in the city on Tuesday.


International »

Nobody can stand in its way in Pacific island cooperation: China


Reuters, Beijing :No country can block China's cooperation with island nations in the Pacific and the area is no country's sphere of influence, a senior diplomat said on Tuesday, ahead of a summit between President Xi Jinping and Pacific island leaders.Australia, in particular, has been vying for influence with China ...

International »

Israel-Gaza border facing most serious fighting since 2014 war


Reuters, Gaza :Israel launched more air strikes on Gaza on Tuesday as Palestinians kept up rocket fire on Israeli territory, in the worst surge of violence since a 2014 war.The fighting - that has killed six Palestinians, five of them militants, and a civilian in Israel since Monday -threatened to ...

 
Items that you save may be read at any time on your computer, iPad, iPhone or Android devices.
 
Are you new to our website? Do you have already an account at our website?
Create An Account Log in here
Email this news to a friend or like someone
Email:
Write a comment to this news