BB data becomes less accessible

FT ONLINE

Amid the poor performance of the banking sector, data by the Bangladesh Bank has become less accessible, said a recent report by the Centre for Policy Dialogue (CPD).

According to the CPD report titled "State of the Bangladesh Economy in Fiscal Year 2019-20", in recent months, data on the banking sector of the country has become less accessible and less frequently available.

The CPD said, two annual reports and four quarterly reports are overdue, including the report on banks and financial institutions for FY2018, the report on banks and financial institutions for FY2019 and the Bangladesh Bank Quarterly July-September 2019.

In its report, the think tank stated that four private commercial banks have failed to publish their mandatory disclosures as required under the Basel III regulation.

Most of the financial institutions do not submit their mandatory reports to the central bank on time. Still, no punitive action is being taken against them by the Bangladesh Bank, the CPD added.

For instance, Reliance Finance Limited has not been submitting their report to the Bangladesh Bank for some time now.

On the other hand, the central bank has totally failed to provide leadership in guiding commercial banks and financial institutions, and upholding its sovereignty, says the report.

The report also commented that the Bangladesh Bank has been cowed down not only by the Ministry of Finance but also by influential individuals with political connections.