Dollar price issue: BB sends show-cause notice to 6 bank MDs

The Bangladesh Bank issued show-cause notice to managing directors (MDs) of six banks for their involvement in destabilizing the country’s foreign exchange market.

Sources from the central bank confirmed the matter on Thursday (August 18).

The six banks are- Brac Bank, Southeast Bank, The City Bank, Prime Bank, Dutch-Bangla Bank and Standard Chartered Bank.

Bangladesh Bank spokesperson and executive director Md. Sirajul Islam said, the central bank sent the show cause letter to the MDs of the banks. Bangladesh Bank teams will also visit other banks too to monitor the them. If any irregularities found in this regard, action will be taken. Besides, the BB said that extra profit from the sale of dollars cannot be taken into the bank's income.

Earlier, the treasury chiefs of the six banks were removed following the same issue.