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Sunday | November 08, 2026 | Dhaka

BPC probes Tk4,813cr deposits in troubled banks

 Staff Reporter
 Published: 12:01 AM, 08 November 2026  Updated: 11:23 PM, 07 November 2026
Panel to investigate possible corruption, irregularities and financial mismanagement

Questions over financial management and accountability in the energy sector have come under renewed scrutiny after the Bangladesh Petroleum Corporation (BPC) formed a seven-member investigation committee to examine Tk4,813.32 crore deposited by the state-owned corporation and its subsidiaries in financially distressed private banks.

The inquiry will look into how such a substantial amount of public money came to be placed with troubled lenders, who recommended the deposits and what considerations influenced the decisions.

It will also examine whether the transactions involved personal benefits, bribes or commissions through unethical dealings, particularly in connection with unusually high interest rates offered by the banks.

According to an office order issued on November 3 and signed by BPC Secretary Shahina Sultana, the committee has also been directed to recommend measures for recovering the funds deposited in fixed deposit receipts (FDRs) with the troubled banks.

Naznin Parveen, BPC director (finance), has been appointed convener of the committee, while Shahina Sultana will serve as a member.

The other members are Reza Md Riazuddin, general manager (marketing) of Meghna Petroleum Limited; Md Shafiul Azam, deputy general manager (audit) of Padma Oil Company PLC; Kabir Uddin Ahmad, deputy general manager (cost and management) of Eastern Refinery PLC; and Mohammad Abu Said, manager (accounts) of Jamuna Oil Company PLC.

Md Al-Amin, BPC manager (accounts/fund), has been appointed member secretary.
The committee has been asked to submit a comprehensive report to the BPC chairman within one month of its formation.

Probe to scrutinise deposit decisions
Under its terms of reference, the committee will trace the entire decision-making process behind the deposits, identify the officials who recommended placing the funds in the banks and determine the reasons for selecting those particular financial institutions despite their distressed condition.

It will also investigate whether officials involved in the decisions pursued personal interests, accepted bribes or benefited from commission-based arrangements and other unethical dealings linked to the banks’ unusually attractive interest rate offers.

A major part of the inquiry will be to identify effective ways to recover the Tk4,813.32 crore currently held in FDRs with the financially troubled banks.

The committee will also recommend safeguards to prevent similar risks to BPC and its subsidiaries’ deposits in the future. These are expected to include a framework for selecting banks based on their financial condition, stability and reliability.

The investigation comes amid growing concerns over the management and security of public funds by state-owned entities in the energy sector, particularly the decision to place substantial deposits with financially distressed private lenders.

The outcome of the inquiry is expected to shed light on the rationale behind the investment decisions, the extent of any possible irregularities and the accountability of officials involved.