TIB: People’s tax money is being looted

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TIB: Bangladesh Bank has virtually been held hostage in the hands of a well-established interest-oriented corporation, proving illegal opportunities for creditors to repossess. As a result, people using this sector have been taxing people’s money.

Transparency International Bangladesh (TIB) responded in a press release on Friday (September 13).

Executive Director of the company said. Iftekharuzzaman says, “The way the governing groups and the authorities concerned are protecting business groups getting redistributed through unfair or unfair advantage, it seems that the culture of deflationary credit has become institutionalized in the country. In recent years, the use of the banking sector has led to a hike of people’s tax money.”

The statement, titled Beximco by the Prime Minister’s Private Industry and Investment Advisor, Salman F Rahman said, The way in which Beximco Limited is being offered loan refinancing is unprecedented and is a proof of the fact that Bangladesh Bank has failed to fulfill its role of the regulator in the banking sector.

In a press release, TIB also noted, “Only a part of the robbers has the opportunity to become law enforcement again with the unjust benefit of debt refinancing.” The central bank has been repeatedly failing to fulfill its regulatory role amid the alarming reality of billions of crores of debt, the dire liquidity crisis.”

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