Investigations into banking irregularities continue

Responding to lawmakers during the question-and-answer session in Parliament, Finance Minister Amir Khosru Mahmud Chowdhury on Sunday said investigations into irregularities, corruption and large-scale financial misconduct across Bangladesh’s banking and financial sector are continuing, with legal action underway against those found responsible.

The minister said restoring financial discipline remains one of the government’s highest priorities, with a sector-wide reform and accountability drive now in progress.

He said the ongoing “cleaning process” covers irregularities across the financial sector, including those involving the Probashi Kallyan Bank.

The remarks came in response to a question from Gazipur-4 MP Salauddin, who alleged that during the previous government’s tenure, hundreds of crores of taka had been siphoned off from the Probashi Kallyan Bank through politically influenced lending, bribery and organised syndicates operating under the guise of loan disbursement.

The lawmaker claimed that around 61 per cent of the bank’s loan portfolio had since become non-performing and alleged that the same networks continue to influence loan approvals and disbursements.

He called for an impartial investigation and the dismantling of those syndicates.

In reply, Amir Khosru said restoring financial discipline is essential for achieving sustainable economic growth and long-term prosperity.

He said investigations are not confined to a single institution but are being carried out across multiple banks and financial institutions.

“Action has already been taken against several individuals,” the minister told Parliament.

“The accumulated irregularities in the financial sector cannot be eliminated overnight,” he said, adding that the government’s financial sector cleanup would continue until accountability is fully established.

Agro-financing expanded
Replying to a separate question from Brahmanbaria-2 MP Rumeen Farhana on long-term, low-interest financing for cold storage facilities and agro-based industries in Sarail, Ashuganj and Bijoynagar, the finance minister outlined a series of measures to support agricultural investment.

He said Bangladesh Bank has increased its refinancing fund for agro-processing industries from Tk1,400 crore to Tk2,000 crore to strengthen food security and create rural employment.

Under the scheme, entrepreneurs are eligible for loans of up to Tk100 crore at an interest rate of 7 per cent, with priority given to projects in rural areas.

The minister also said a Tk10,000 crore refinancing scheme has been established for the agriculture and rural sectors.

“For the 2025-26 fiscal year, the agricultural credit disbursement target has been set at Tk39,000 crore. In addition, concessional loans at a 4 per cent interest rate are being provided for the cultivation of import-substituting crops.

Since these facilities are available nationwide, there is no need to introduce separate loan programmes for specific upazilas,” he said.

No compromise on loan defaulters
During a supplementary question, Rumeen Farhana said between 50 per cent and 70 per cent of loans disbursed by state-owned Sonali, Rupali, Janata, Agrani and BASIC Bank over the past 15 years had become non-performing.

She further alleged that nearly 70 per cent of Janata Bank’s defaulted loans were linked to a small number of large business groups, including S Alam, Beximco, AnonTex Group and Bismillah Group, and sought clarification on the government’s actions against them.

Although noting that the question was outside the original subject, the finance minister described it as an important issue.

“The government will make no compromise with those who looted public money and fled abroad,” he said.

“Cases have already been filed against many individuals, investigations are ongoing, and legal proceedings to seize their assets have begun.”

He added that detailed information on the matter had previously been presented in Parliament and reaffirmed the government’s commitment to pursuing those responsible.

Political influence in banks rejected
Later, Kurigram-2 MP Atiqur Rahman raised concerns over alleged irregularities and institutional weaknesses at Rajshahi Krishi Unnayan Bank, claiming that groups which had previously influenced the bank through political connections were attempting to retain their influence under a different political banner.

In response, the finance minister said there was no scope under the current administration for banks to be controlled or influenced through the BNP or any other political party.

“No appointments are now being made on political considerations. A comprehensive review of the boards of directors and management structures of banks is currently underway,” he said.

The minister expressed confidence that the review process would lead to visible improvements in governance across the banking sector.

Separately, replying on behalf of the government to a question from Chandpur MP Mohammad Abdul Hannan, Posts, Telecommunications and Information Technology Minister Faqir Mahbub Anam said infrastructure development at the upazila service and ICT training centre in Faridganj had been completed and internet connectivity was being expanded to support digital education.

He said the government’s ICT infrastructure initiatives would help generate employment opportunities for young people in rural areas.