Bangladesh Bank (BB) has asked the directors, managing directors and employees of two subordinate stages under them and their families to submit wealth statements to their respective board of directors every year.
“They will have to submit information regarding their business, source of income even if they own any business or wealth inherently,” the central bank said.The central bank issued a circular on Thursday asking the MDs, directors and their subordinates to submit the wealth statements by January 20 every year.
However, Bangladesh bank asked to submit the statement of the current fiscal year by February 28 instead of January 20.
BB came up with such directives amid the massive allegations of irregularities and corruption against the top officials of different banks in recent time.
According to the Banking Company Act, providing such wealth statement by the top officials of the banks is mandatory but they did not follow the law.
According to section 18 of Bank Company Act 1991, all directors, managing directors and employees of two subordinate stages under them will have to submit in writing their commercial, financial, agricultural, industrial and other business description and that of their familial and commercial involvement of interest to the management board.