10 BB officials show-caused for ‘sharing info’ with media

The Bangladesh Bank has issued show-cause notice to at least 10 of its officials, ranging from joint directors to executive directors, alleging that they shared information with journalists.

Such type of action against the central bank officials had not been taken under any tenure of the previous governors, said BB officials who are panicked due to the unprecedented measure.

The BB officials said that at least 10 officials from banking inspection department, off-site supervision department, forex reserve & treasury management department and banking regulation and policy department have been asked to explain why they had shared information with journalists.

However, it was not proved that they had shared information with the journalists, claimed the central bank officials.

A deputy governor of the Bangladesh Bank issued the show-cause notices when the country’s media outlets are publishing reports about forex reserve, volatility in foreign exchange market and other banking issues in the recent times, as per the industry insiders.

Contacted, Bangladesh Bank Executive Director and Spokesperson Md Serajul Islam told The Business Post, “Journalists are collecting information from both the central bank and other banks but I do not know why such show-cause notice was issued by the BB high ups.”

The Business Post correspondent contacted three high official of central bank and two chief executives of private commercial banks. They said that the practice is not very good sign for the country and country’s economy.

Preferring not to be named, they said that such type of measure against the BB officials had not been taken before. This action might be taken by the BB high up being influenced by some influential groups, they said.