Bangladesh Bank changing policy on bank activities monitoring: Atiur

The Bangladesh Bank’s governor, Atiur Rahman, on Tuesday said that they had started to change the strategic policy for monitoring the banking system.

‘The BB is now giving the highest importance to gear up supervision activities in the banking system,’ he said at a programme to launch the web-based agriculture credit-MIS software at the central bank’s headquarters.

He said that the BB was giving great importance to the use of information technology in supervising the activities of banks.

The governor’s comments on bank monitoring were made at a time when the BB is facing criticism by various groups for its failure to take proper measures to stop the Hallmark Group loan scam.

The Hallmark Group and five other companies recently embezzled around Tk 3,606 crore from the Rupashi Bangla Hotel branch of Sonali Bank with the help of many corrupt bank officials and politicians.

Referring to the new software, Atiur said that there was no alternative to information technology for monitoring the qualitative and quantitative performance in disbursement of agriculture credit to the farmers.

‘We hope that the new software will play a significant role in collecting agriculture credit-based information in a short time,’ he said.