Tk 92,000cr embezzled in banking sector: CPD

Tk 92,261 crore have been embezzled from the banking sector through 24 major loan scams in last 15 years from 2008 to 2023, according to the Centre for Policy Dialogue (CPD).

The independent think-tank revealed the information at a media briefing held at its office in the capital’s Dhanmondi on Saturday (December 23) to share its observation on the state of Bangladesh’s economy in the fiscal year 2023-24.

The CPD prepared the assessment report of fund embezzlement by compiling reports published in the media between 2008 and 2023.

CPD Executive Director Fahmida Khatun Fahmida Khatun said that loan defaults have increased almost three and a half times since 2012 due to irregularities.

The consequences of these defaults ripple through both public and private banks, intensifying liquidity crises and escalating provision deficits.

Dr Fahmida drew attention to state-owned banks, particularly the specialised banks, indicating a worrying trend in the overall banking system.

She stressed the need for implementing and reforming the rules and regulations in the banking sector to prevent the embezzlement of this huge money.