Allegations of financial misconduct have surfaced against four senior officials of Bangladesh Bank, relating to training funds allocated for the Small and Medium Enterprise (SME) sector. According to the claims, a sum of BDT 20 crore was withdrawn in cash under the guise of foreign training programmes. However, the funds were reportedly never transferred abroad and were allegedly distributed among the officials involved.
Under the project’s regulations, funds earmarked for foreign training must be routed through official government banking channels, accompanied by proper documentation. A report indicates that these procedures were bypassed, with the officials directly withdrawing the cash. Multiple high-ranking sources within the central bank have confirmed these irregularities.
Officials Involved and Training Details
With approval from Bangladesh Bank’s top management, four officials undertook training tours across five countries over two months in three phases. Their names, positions, and travel details are summarised below:
| Official Name | Position | Training Destinations | Duration |
|---|---|---|---|
| Munira Islam | Director | Thailand, Maldives, Malaysia, Singapore, South Korea | 2 months |
| Tarikul Islam | Additional Director | Thailand, Maldives, Malaysia, Singapore, South Korea | 2 months |
| Tutul Hossain Malik | Additional Director | Thailand, Maldives, Malaysia, Singapore, South Korea | 2 months |
| Prasant Mohan Chakraborti | Deputy Director | Thailand, Maldives, Malaysia, Singapore, South Korea | 2 months |
Sources indicate that instead of processing the funds through the Forex Reserve and Treasury Management divisions, the officials allegedly withdrew cash and distributed it among themselves. The Accounts and Budget Department has initiated an internal investigation to probe the matter.
A spokesperson for Bangladesh Bank, Arif Hossain Khan, stated:
“The withdrawals were made with top management approval. However, the usual procedure for transferring funds abroad was not followed. The officials have claimed that all arrangements were managed through third parties. We will thoroughly verify all allegations.”
Background of the Training Fund
The fund was originally established in 2017 under the SME Development Project-2 (SMEDP-2) refinancing programme, with a total allocation equivalent to approximately USD 24 million. Its purpose was to provide low-interest loans to rural and urban small entrepreneurs and to promote job creation. The initial project concluded in 2024, and in 2025, a new fund worth BDT 1,200 crore was established.
Fund Usage Summary
| Category | Amount (BDT crore) | Purpose / Investment |
|---|---|---|
| Investment in Government Treasury Bills | 950 | Generate interest income |
| Interest Earned | 46.74 | 40: Government & Bank; 2.74: Research; 4: Staff Training |
None of the four officials have issued direct comments; all responses have been conveyed through the bank’s spokesperson.
This controversy raises serious questions about fund management and transparency within Bangladesh Bank. The outcome of the ongoing internal investigation is now closely watched, with potential implications for the institution’s governance and accountability.