BB denies Shahabuddin probe
Bangladesh Bank (BB) has ruled out launching a separate investigation targeting former President Mohammed Shahabuddin over allegations of financial irregularities, saying its supervisory role is limited to examining banks and their governance rather than investigating specific individuals.
The clarification came on Sunday after a report aired by private television channel Ekhon TV suggested that the central bank would not investigate allegations involving the former president.
Speaking to journalists, Bangladesh Bank spokesperson Arief Hossain Khan said the report had misinterpreted his remarks.
He explained that Shahabuddin had previously been associated with Global Islami Bank and Islami Bank Bangladesh, and that any investigation undertaken by the central bank would focus on the institutions concerned and any regulatory breaches identified within them.
“We will investigate if there is any irregularity in the bank. We will not target any individual for investigation,” Arief told reporters, adding that he would request the television channel to remove the report.
The spokesperson reiterated that Bangladesh Bank conducts investigations as part of its supervisory and regulatory responsibilities over the banking sector.
“If any irregularity is found during investigation, Bangladesh Bank takes action regarding that. If an individual commits an irregularity, whether the board is involved in that irregularity is also looked into,” he said.
Arief added that ongoing investigations into banks, being carried out as part of broader financial sector reforms, would continue, and anyone found to have been involved in irregularities would face legal action in accordance with the law.
He also noted that commercial banks are subject to multiple layers of scrutiny, including audits by their internal auditors, Bangladesh Bank and external audit firms.
“The central bank will not do this targeting any specific individual. There is no scope for it to be working with special priority or by targeting someone,” he said.
The clarification comes amid heightened public scrutiny over allegations of financial misconduct involving former officials, as regulators continue efforts to strengthen governance and accountability in the banking sector.
