The Bangladesh Bank on Thursday withdrew its instruction of removing heads of treasury departments of six banks.
Therefore, the six banks can now reinstate their suspended treasury heads to their positions as the central bank withdrew its allegation against them, BB officials said.
BB spokesperson and executive director Serajul Islam told New Age that the central bank disposed the issue of the treasury heads of six banks on condition that the banks would calculate 50 per cent of profits from dollar sales in financial statements while the other 50 per cent to CSR.
The alleged people will not commit such crime further, he said.
On August 8, the BB asked six banks to remove the heads of their treasury departments amid allegation of dollar price manipulation.
The banks are Standard Chartered Bank, BRAC Bank, Dutch-Bangla Bank, City Bank, Southeast Bank and Prime Bank, said central bank officials. They said that the treasury chiefs preserved large amount of dollars in order to raise the price of the bank note.
Banks buy dollars from exporters at a lower rate and sell those at a much higher rate to importers to make huge profits.
Bangladesh struggled with dollar shortage due to higher imports compared with exports. The current Russia-Ukraine war has escalated the current economic crisis in the country due to the global supply chain disruption.
Bangladesh’s trade deficit hit a historic high of $33.25 billion in the financial year 2021-22 amid surge in imports and commodity prices on the global market.
