Home Today's Paper Most Popular Video Gallery Photo Gallery
Subscription Blog Signin Register
Tuesday, September 25, 2018 12:16:36 AM
Follow Us On: Facebook Twitter Twitter Twitter Twitter

News analysis

Motive behind bank heist!

By Special Correspondent
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.

Add Rate

News Archive

Inside The New Nation

Editorial »

Maldives' people reject authoritarian rule and voted for democracy

MALDIVES strongman President Yameen Abdul Gayoom conceded that he lost Sunday's election to his challenger Ibrahim Mohamed Solih, in a speech broadcast live on television Monday, according to the international media. Mr Yameen congratulated Solih and said, "I know I have to step down now."  The Election Commission said voter ...

Cricket »

'Rashid is best but not unplayable' says Mahmudullah

Mahmudullah Riyad sorted out a vigorous 74 against Afghanistan rescuing Bangladesh from a plausible downfall.Mahmudullah Riyad and Imrul Kayes stood tall in the middle when the team was languishing losing all five in the top order in a score of 87 on the board. The duo added 128 runs in ...

International »

Thousands attend funeral for Iran attack dead

AFP :Tens of thousands of mourners attended a funeral on Monday in the southwestern Iranian city of Ahvaz for soldiers and civilians killed in an attack on a military parade.Four militants attacked the Saturday parade marking the start of the 1980-1988 Iran-Iraq war, spraying the crowd with gunfire and killing ...

International »

Hong Kong pro-independence party formally outlawed in first such move since handover

Reuters, Hong Kong  :Hong Kong authorities formally banned on Monday a group promoting independence from China - the first outlawing of a political organization since Britain handed its former colony back to Chinese rule in 1997.The city's Secretary for Security John Lee announced the ban on the Hong Kong National ...

City »

Prime Minister Sheikh Hasina addressing a reception accorded to her by the expatriate Bangladeshis at a hotel in New York on Sunday.

Entertainment »

Mehazabien, Apurba in Puja special play

Sheikh Arif Bulbon :Popular pair of the small screen of present time Mehazabien Chowdhury and Ziaul Faruk Apurba worked together in a special play of Durga Puja for the first time. Title of the play is Priyo Tumi. Directed by Mahmudur Rahman Himi story of the play is written by ...

Editorial »

Attack on Iran`s elite guards

IRANIAN Supreme Leader Ayatollah Ali Khamenei accused US-backed Gulf Arab states of carrying out a shooting attack on a military parade that killed 25 people, almost half of them members of the country's elite Revolutionary Guards. Khamenei ordered security forces to bring to justice those responsible for one of the ...

Sports »

Bertens defeats Tomljanovic to secure Korea Open win

AFP, Seoul :Kiki Bertens defeated Australia's Ajla Tomljanovic in the Korea Open final on Sunday, securing her third WTA Tour singles title of the season to continue her career-best year.The second-seeded Bertens came back from break down in the deciding set to defeat the Australian in two hours and 22 ...

International »

World leaders gather at UN under threat from unilateralism

AP, United Nations :With rising unilateralism challenging its very existence, the United Nations convenes its annual meeting of world leaders Monday and will try once more to tackle problems together as a community of nations, addressing threats ranging from Mideast conflicts to the effects of global warming - and also ...

City »

National Professor Anisuzzaman seen among others at the cover unveiling ceremony of a book marking the 80th birthday of eminent writer Hasan Azizul Haq organised by Bangladesh Culture at Jatiya Press Club yesterday.

Entertainment »

Nazira Mou to debut in film with Indraneil

Sheikh Arif Bulbon :Viewers’ choice popular actress Nazira Mou has been acting in small screen for many days. She got many offers for acting in big screen. But she did not agree to act due to disliking stories and her roles in those works. When Mou got the proposal from ...

Editorial »

CPJ reveals weakness of journalists by appealing to President

THE Committee to Protect Journalists (CPJ) in a letter to the Bangladesh President has expressed deep concern about the Digital Security Act 2018, which was passed by the Parliament on September 18, and urged him to return it to Parliament for a review afresh.   If this legislation was allowed to ...

International »

Modi faces calls for resignation over French jet deal

Reuters, New delhi :Indian Prime Minister Narendra Modi faced calls for his resignation over allegations of corruption in a military jet deal with France after former French president Francois Hollande was quoted as saying New Delhi had influenced the choice of a local partner.Indian political parties have been gunning for ...

International »

US official in Russia probe suggested taping Trump: Report

Reuters, Washington: The US official who oversees the federal investigation into Russia's role in the 2016 U.S. election suggested secretly recording President Donald Trump last year and recruiting Cabinet members to invoke a constitutional amendment to remove him from the White House, the New York Times reported on Friday.Deputy Attorney ...

Football »

Tabarez renews with Uruguay until Qatar World Cup

AFP, Montevideo :Despite failing health the veteran coach Oscar Tabarez has signed a four-year contract extension to remain at the Uruguay helm until the end of the 2022 World Cup in Qatar, the South American country's football federation said on Friday.Tabarez, who suffers from a nerve disorder that forces him ...

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
Write a comment to this news