Request for surrender of 2 central bank directors rejected

The request for remission of sentences imposed on two co-directors of Bangladesh Bank was rejected at a meeting of the bank’s board of directors held on Thursday.

The two administrators – Abdullah Al Mabud and Almas Ali – were allegedly involved in fraud during a central bank recruitment test in 2020, and banking authorities rescinded their raise for violating bank policies.

Later, they asked the bank’s HR-1 department to waive the sentence.

Sources said that a recruitment test was held for 26 vacancies of the bank’s CCTV operator in 2020, when Almas Ali and Abdullah Al Mabud worked in the human resources department.

They used to tell candidates where their exam would take place and who would be on the interview panel. They even used to divulge questions and lobby for the interview. The central bank investigated these cases and took disciplinary action against them.

Bangladesh Bank Governor Fazle Kabir chaired the meeting which also discussed monetary policy for the new fiscal year. The central bank will announce its monetary policy for the new fiscal year on June 30.

Currency swap contract with a Russian bank

The meeting also discussed the request sent by the central bank in December 2020 for a currency swap agreement with a Russian bank, which was rejected. However, no decision was taken at the meeting in this regard.

The swap agreement proposed that the Russian bank would pay the price of goods imported from Russia with the income of the amount that Bangladesh would export to Russia each year. Whatever the remaining amount, it will be paid in the currency of another country.

Also, the meeting was supposed to discuss the case filed in a US court to recover the money stolen through cyber hacking from the Bangladesh Bank reserves, but the issue was not discussed due to lack of time.

On February 4, 2016, $8.1 crore was stolen from the reserves of Bangladesh Bank, held at the US Federal Reserve in New York. The money was quickly withdrawn when it went to Rizal Bank in the Philippines.

The Bangladesh Bank filed a lawsuit in a New York court three years ago to recover the money.

About William G. Patrick

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