11 more banks to face asset quality review

Staff Reporter :

The banking sector reform task force has decided to conduct asset quality reviews (AQR) of 11 more banks that were hit by irregularities and scams during the 15-year regime of the Awami League-led government.

The 11 Banks are Islami Bank Bangladesh, Al-Arafah Islami Bank, National Bank, Bangladesh Commerce Bank, United Commercial Bank, IFIC Bank, AB Bank, Premier Bank, NRB Commercial Bank, NRB Bank, and Meghna Bank, central bank officials said, seeking anonymity.

The World Bank will provide support for the asset review, which will be conducted by global audit firms.

The task force-formed by Bangladesh Bank to bring discipline to the banking sector after the interim government came to power-took the decision at a meeting held at the central bank headquarters in Dhaka on Monday. Bangladesh Bank Executive Director and Spokesperson Arief Hussain Khan told the media about conducting the AQR of 11 banks, but he did not disclose their names.

The Bank Restructuring & Resolution Unit, a newly formed unit of the central bank established by the banking sector reform task force, is now working on this issue.