State of the Bangladesh Economy in FY2023-24 (First Reading) slide image

State of the Bangladesh Economy in FY2023-24 (First Reading)

Independent Review of RBD Bangladesh's Development Instances of reported irregularities in banks ā˜ Compilation of published news reports outlines 24 major irregularities in the banking sector between 2008 and 2023, amounting to over BDT 922.61 billion or more than BDT 92,261 crore which is equivalent to 2% of GDP FY23 and 12% of national budget FY24. ā˜ Please see Annex Table 4.1 in the main IRBD report of CPD for details of these incidences where dates of incidences, banks/institutions where those incidences took place, measures taken and why these are considered irregularity are presented. Serial no. 1 21 3 4 LO 5 Table: News compilation of major irregularities in banks during 2008-2023 Amount of money lost Irregular activities Proprietor of Fahim Attire Limited borrowed BDT. 5.89 crores with forged land documents Embezzlement of BDT. 4,500 crores through fake companies and dubious accounts Hallmark Group Managing Director Tanvir Mahmud and 26 others were accused of misappropriating around BDT 4,357crore from state-owned Sonali Bank through various means, including fraud and deception Fraudulence by Crescent and AnonTex involving BDT 10,000 crores. Embezzlement and laundering of BDT 1,174.46 by Bismillah Group and its fake sister concerns worth crores. CPD (2023): State of the Bangladesh Economy in FY2023-24 (First Reading) 58900000.00 45000000000.00 43570000000.00 100000000000.00 11744600000.00 52
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