TIB decries proposal to gag media for reporting on banks

FT ONLINE

Terming the proposal by Bangladesh Association of Banks (BAB) to formulate Bank Reporting Act as illegal, Trans-parency International Bangladesh (TIB) expressed deep concern over it.

In a statement, TIB Executive Director Dr Iftekharuzzaman said BAB proposed the act to prevent media from disclosing any kind of negative news on the banking sector as it thinks such news affects the confidence of the clients.

Terming it as a dreadful move and anti-public proposal he said such act will encourage irregularities and corruption in the banking sector.

"Bank Reporting Act is needed, but not to create obstacles on the way to disclosing information on corruption, irregularities and frauds, rather to create an environment so that such information can be disclosed freely," said the TIB executive director.

Claiming that the people has the right to get all sorts of information of corruption as well as positive ones of private banks, he said, the bank sector has no right to confuse people and spread corruption by creating obstacle to disclose information.

TIB also stressed the need for forming an unbiased advisory committee to take effective measures and to identify short term, mid-term and long term strategy ensuring participation of all stakeholders to solve the ongoing crisis of private banking sector.