Tuesday, May 07, 2024
The Transparency International Bangladesh (TIB) has expressed deep concerns over the imposition of restrictions on the access of journalists to the financial sector regulatory body Bangladesh Bank.
This anti-theft watchdog has called for immediate withdrawal of such action citing unprecedented obstacles in the way of the media's professional responsibility in disclosing banking and financial sector information in the public interest.
According to news reports published in the media, journalists have been facing obstacles for almost over a month in accessing the central bank to collect information about the banking and financial sector.
Under the circumstances, help from the central bank governor was sought to solve the problem, but there has been no positive results as yet.
Referring to this as an unethical and arbitrary step towards ensuring the legitimate right of the public to know information, TIB Executive Director Dr Iftekharuzzaman pointed out, “When the banking sector is plagued by various crises including bad loans, financial fraud and fraud and lack of overall good governance, the top of Bangladesh Bank decided to stop the free flow of information.
“What message do they want to convey to everyone? What does the Bangladesh Bank seek to achieve through this move? Is this an initiative to hide information of their failure to establish good governance in the banking sector that has reached the edge of the abyss? Is it an attempt to protect the interests of those who are responsible for the crisis in this sector, including defaulters and fraudsters?”
In the past few years, most of the information about the financial sector scams involving thousands of crores of taka has been published by the media in the public interest.
Dr Iftekharuzzaman said, “However, should we assume that the Bangladesh Bank is working to ensure the continued protection of criminal circles involved in the irregularities of this sector like debt settlement, fraud and money laundering, and has taken such reprehensible steps to hide the fact that the Bangladesh Bank's policies and leadership have become hostages in the hands of the gang.”
The TIB believes that when the question of trust in the banking sector is swirling in the public mind, or when the central bank itself is visibly confused about bank consolidation in the name of protecting the interests of bank customers, then the siege of privacy can cause greater danger.
TIB is worried that the Bangladesh Bank is avoiding the issue of allowing journalists to gather information freely. Instead of addressing the problem, they're using bureaucratic hurdles under the guise of training the media on sensitive banking information.
Media professionals are seeking the central bank governor's help as they feel helpless in this situation.
“Which is not only an expression of arbitrariness, but also an introduction of colonial mentality,” says the TIB executive director.
He points out, “Without solving the problem, the governor is talking about introducing a pass-based system, offering training, whatever else, the professional responsibility of media workers, especially investigative reporting.
“Not only is there an insurmountable ban on the collection of information, but as a result, Bangladesh Bank officials at any level will want to refrain from giving interviews to journalists.”
Dr Iftekharuzzaman added, “It goes without saying that the official will face harassment in the name of administrative accountability if the concerned journalist publishes the report after the meeting.
“That is, access to information will be practically blocked. People will be deprived of the right to know what is happening in the banking sector, why and who are benefiting from the loss of people's money. This in no way can be a sane act. The Bangladesh Bank authorities should remember that they are supposed to play the role of protecting public interest and not responsible for the crisis in the banking sector.”
Taking into consideration the overall situation, the Bangladesh Bank leadership will ensure unhindered access of journalists to the central bank by announcing the immediate withdrawal of the said ban, hopes TIB.
