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Money laundering inquiry in Bangladesh
9/4/2002 12:27:00 PM
Bangladesh's central bank has found that illegal loans have been made to local businessmen by 4 commercial banks.
A senior official from Bangladesh Bank has stated, "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".
Last week, a survey by the business-funded lobby group Transparency International listed Bangladesh as the most corrupt country in the world for the second year running.
The managing directors of the banks have been given 15 days to reply to the served notices asking them to explain why they should not be held responsible for sanctioning the loans.
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