Tk 92,000cr embezzled from Bangladeshi banks since 2008

  • December 24, 2023

According to the Center for Policy Dialogue (CPD), more than Tk 92,000 crore has been taken out from the banking system through 24 large scale loan scams since 2008. The independent think-tank found that money was stolen from the financial sector by going through news stories from 2008 to 2023. The think-tank spoke with the media today at a meeting to share its thoughts on the state of Bangladesh’s economy in the fiscal year 2023–24.

Non-performing loans (NPLs) are still not being checked which is bad for the health of the financial system, according to CPD. Bangladesh’s banking industry has always been weak. This is mostly because of bad governance and a lack of reforms.

“Regrettably, the government’s commitments to safeguard the banking sector remain unmet,” said CPD Executive Director Fahmida Khatun. It is said that the total volume of bad loans has increased by more than 3 times in the last 10 years, from Tk 42,725 crore in the fourth quarter of the fiscal year 2011-2012 to Tk 156,040 crore in the fiscal year 2022-23.