The central bank, through issuing a circular on Sunday, directed the banks to send the report within three days of the suspension
The commercial banks, from now on, will have to send the Bangladesh Bank a report of any official's suspension on charges of money embezzlement, corruption, note forgery and moral degradation.
The central bank, through issuing a circular on Sunday, directed the banks to send the report within three days of the suspension.
Details of the suspended person, including his or her name, father's name, mother's name, date of birth, national identification card, passport no, permanent address, date and reason of suspension, should also be mentioned in the report, as per the circular.
Earlier, the Bangladesh Bank would record the violation of banking rules by officials and directors of banks and other financial institutions through a web-based corporate memory management system.
Developed in 2015, the software would also preserve the information regarding the punishment of those violators.
If a court or authorities concerned curtail the punishment of suspended officials or acquit them, it should also be informed to the secretary's department of the central bank with the copy of those documents to have the previous information deleted.
Prior to recruit experienced officials in the banking sector, their information preserved in the software must be checked, said the circular.