BFIU seeks bank details of former BB governors, deputies

The Bangladesh Financial Intelligence Unit (BFIU) has asked banks to provide the account details of three former governors of the Bangladesh Bank, four deputy governors and two BFIU heads for the first time in history.

The three former governors are Atiur Rahman, Fazle Kabir and Abdur Rouf Talukder. The four former deputy governors are Shitangshu Kumar Sur Chowdhury, SM Moniruzzaman, Kazi Sayedur Rahman and Abu Farah Md Nasser.

The two former BFIU heads, who held the deputy governor rank, are Abu Hena Mohammad Razee Hassan and Md Masud Biswas.

The anti-money laundering agency sought the bank account details at the request of the Anti-Corruption Commission and the Criminal Investigation Department of police, said a senior official of the BFIU seeking anonymity.

The letters, which were sent to the banks last week, specified that information, including account opening forms, KYC (Know Your Customer) documents, transaction histories and related data, must be provided.

Massive irregularities in the banking industry during the Awami League's 16-year rule came to light after the political changeover on August 5, 2024.

The nine individuals led the banking industry as regulators during the AL regime.

In 2009, when the AL came to power, the government appointed Atiur Rahman as the BB governor, a period that coincided with the onset of political influence and irregularities in the banking sector.

During his tenure, new banks were given approvals and loan restructuring facilities were extended based on political decisions.

 Following the reserve heist in 2016, he stepped down.

He was replaced by former finance secretary Fazle Kabir.

During his tenure, one bank after another came under the control of new owners, who went on to indulge in largescale irregularities in their institutions, central bank reports showed.

During his tenure, the approval of new banks and the relaxation of loan policies were also used as strategies to conceal defaulted loans.

In 2022, another former finance secretary, Abdur Rouf Talukder, was appointed governor, and the previous trend continued.

Amid the tenures of the three governors, bad loans in the banking sector rose from Tk 22,481 crore to Tk 345,000 crore, data showed.

However, stressed assets in the sector scaled past the Tk 600,000 crore-mark.

Besides, deputy governors of the central bank served the purposes of politically affiliated business groups and businesspersons, as per industry people.