BBC NEWS Americas Africa Europe Middle East South Asia Asia Pacific
BBCi NEWS   SPORT   WEATHER   WORLD SERVICE   A-Z INDEX     

BBC News World Edition
 You are in: Business  
News Front Page
Africa
Americas
Asia-Pacific
Europe
Middle East
South Asia
UK
Business
E-Commerce
Economy
Market Data
Entertainment
Science/Nature
Technology
Health
-------------
Talking Point
-------------
Country Profiles
In Depth
-------------
Programmes
-------------
BBC Sport
BBC Weather
SERVICES
-------------
EDITIONS
Wednesday, 4 September, 2002, 11:44 GMT 12:44 UK
Bangladesh money laundering inquiry
Dhaka Bank office
Dhaka Bank was one of four banks named
An investigation by Bangladesh Bank, the country's central bank, has found that four commercial banks have made illegal loans to local businessmen.

"An investigation has found that four local private banks have sanctioned 3.3bn taka ($57m) loans to three businessmen and their companies through illegal process," a senior central bank official said.

The investigation also found that the companies and their executives were involved in money laundering, he added.

Last week, Bangladesh has topped a survey by the business funded lobby group Transparency International as the most corrupt country in the world for the second year running.

Time to reply

The managing directors of the banks have been served with notices asking them to explain why they should not be held responsible for sanctioning the loans, the official said.

They have been given 15 days to reply.

The central bank named National Credit and Commerce Bank Limited (NCCBL), Dhaka Bank, National Bank Limited and One Bank as the banks involved.

One Bank is a private bank but the remainder are listed on Bangladesh's main Dhaka Stock Exchange and the Chittagong Stock Exchange.

Shares in NCCBL ended down 0.13% at 189.75 taka while Dhaka Bank fell 0.81% to 244 taka.

See also:

29 Aug 02 | Business
19 Aug 02 | Business
Internet links:


The BBC is not responsible for the content of external internet sites

Links to more Business stories are at the foot of the page.


E-mail this story to a friend

Links to more Business stories

© BBC ^^ Back to top

News Front Page | Africa | Americas | Asia-Pacific | Europe | Middle East |
South Asia | UK | Business | Entertainment | Science/Nature |
Technology | Health | Talking Point | Country Profiles | In Depth |
Programmes