Staff Reporter :
The Chattogram Port Authority (CPA) has decided not to accept any pay orders, checks, or bank guarantees from nine private banks.
The banks are Global Islami Bank Plc, Union Bank Plc, Bangladesh Commerce Bank Plc, Islami Bank Bangladesh Plc, First Security Islami Bank Plc, Social Islami Bank Plc, Padma Bank Plc, National Bank Plc, and ICB Islami Bank Plc.
The decision was made in the face of the ongoing liquidity crisis in banks as well as reports of instability within banks managed by the S Alam Group.
On Thursday, Chief Finance and Accounts Officer Mohammad Abdus
Shakur issued a letter to all department heads within the Chattogram Port Authority.
The letter stated that they refrain from accepting any pay orders, checks, or bank guarantees from the specified banks until further notice.
According to the Chattogram Port Authority, the port has been facing financial difficulties due to the lack of interest returns on its investments in these banks.
Despite issuing notices to the banks requesting interest payments, there has been no response, which the port authority considers contrary to standard banking practices.
Consequently, the port authority said it felt unsafe keeping its deposits in these troubled banks and was unable to withdraw its money.
A letter has been sent to the central bank outlining the obstacles in funding ongoing development projects due to these issues.
The concerned ministry has also been contacted for assistance in resolving this matter.