Penalty waiver: BB rejects application from Premier, Trust Bank

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Penalty waiver: BB rejects application from Premier, Trust Bank

 

The Bangladesh Bank (BB) has rejected penalty waiver applications from two banks that were fined for breaching rules.

The applications by Premier Bank and Trust Bank were presented before the central bank’s board of directors during a meeting on Thursday, sources familiar with the discussions said.

Without naming any banks, Bangladesh Bank Executive Director Md Sirajul Islam also confirmed The Business Standard that penalty waiver applications by several banks were rejected at a board meeting on the day.

“A few banks were fined for concealing Credit Information Bureau reports and lending money to defaulting organisations,” Sirajul said.

“The banks sought waiver of the imposed fines. But the board rejected their applications after a detailed discussion on the matter,” he added.

The BB directors also discussed the issue of paying the dues of a legal firm appointed to represent Bangladesh in a case filed with a United States court over the central bank’s reserve heist. However, no decision was taken in this regard.

BB Governor Fazle Kabir presided over the meeting attended by the bank’s deputy governors, board members and other senior officials.

 

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