No leniency for banks violating rules, says BB governor
Mostaqur also instructed officials to keep him regularly informed about the latest developments in the banking sector and the actions taken against irregularities through periodic meetings.
Bangladesh Bank Governor Mostaqur Rahman has directed banking supervisors to adopt a zero-tolerance approach towards violations of banking laws and regulations, instructing them to take the toughest possible action against non-compliant banks.
The directive was issued during a meeting today (20 June) between the governor, two deputy governors, executive directors and directors of departments responsible for bank supervision at the central bank.
According to meeting sources, the governor instructed officials to play the strictest possible role in supervising banks and ensuring compliance with regulatory requirements.
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Mostaqur said Bangladesh Bank should show no leniency in cases where banks violate laws or regulatory provisions and should instead follow a zero-tolerance policy in dealing with such offences.
The governor also instructed officials to impose the maximum penalties permitted under relevant laws whenever violations are identified.
The governor emphasised the importance of effective bank supervision and directed supervisory departments to closely monitor whether banks are complying with all applicable rules and regulations.
Mostaqur also instructed officials to keep him regularly informed about the latest developments in the banking sector and the actions taken against irregularities through periodic meetings involving directors, executive directors and deputy governors overseeing bank supervision.
