More than Tk 922 billion was embezzled in 24 major loan scams involving 19 public and private banks, according to the Centre for Policy Dialogue, or CPD. The private research institute reported that the defaulted loans in the banking sector were Tk 220 billion until 2008. Speaking at a briefing at the think-tank’s office in Dhaka’s Dhanmondi on Saturday, CPD Executive Director Fahmida Khatun blamed irregularities for the scams. She emphasised the importance of strengthening the central bank, noting that despite significant losses from bad debts, the amount recovered has been "insignificant." “People entrust their money to banks, and it's our duty to ensure transparency in its use,” she said.

Source: bd News24 December 23, 2023 22:28 UTC