Parliamentary Committee's meeting on BASIC Bank today

KMA Hasnath: A special meeting of the parliamentary standing committee on the finance ministry will be taken place today (Tuesday).

The overall banking activities will be discussed in the meeting. Besides, some directions over  BASIC Bank would be given.

Sources said that the present management of the bank prepared a report for today's meeting. Once the state-owned bank was hundred percent profitable. In 2009, the net profit of the bank was Tk 64.89 crore. But, BASIC bank turned into a default bank within five years making loss Tk 110 crore. Unlimited irregularities and corruption are main reason behind this, said the current authority of the bank.

On January 21, 1989, BASIC Bank started its journey officially. From the very beginning the bank was introduced as a fair and profitable one. But, a huge number of corruptions took place in 2010-14. As a result, the capital deficit of the bank stood at Tk 3,516 crore in 2014.

Anti Corruption Committee (ACC) is investigating over the money scam of BASIC Bank. ACC already has quizzed former chairman of BASIC Bank Board of Director. 



risingbd/Dhaka/Dec 19, 2017/Hasnath/Nasim/Mukul