Four senior officials of Bangladesh Bank are facing allegations of misappropriating cash from a fund intended for small and medium enterprises (SMEs) under the guise of foreign training programmes. Reports indicate that a total of BDT 2 crore was withdrawn in cash, which was never remitted abroad and was allegedly shared among the officials themselves.
Under the project’s regulations, funds allocated for foreign training are required to be transferred via official banking channels, accompanied by proper documentation. The accused officials, however, are reported to have circumvented this process, directly obtaining cash instead. Multiple senior sources within the central bank have confirmed these irregularities.
Officials and Training Details
With approval from Bangladesh Bank’s top management, the four officials undertook training trips to five countries over a two-month period, in three separate phases. Details of the officials and their travel are as follows:
| Official Name | Designation | Training Destinations | Duration |
|---|---|---|---|
| Munira Islam | Director | Thailand, Maldives, Malaysia, Singapore, South Korea | Two months |
| Tarikul Islam | Additional Director | Thailand, Maldives, Malaysia, Singapore, South Korea | Two months |
| Tutul Hossain Malik | Additional Director | Thailand, Maldives, Malaysia, Singapore, South Korea | Two months |
| Prashanta Mohan Chakraborty | Joint Director | Thailand, Maldives, Malaysia, Singapore, South Korea | Two months |
Sources revealed that instead of processing funds through the Forex Reserve and Treasury Management Division, the officials reportedly withdrew cash and distributed it among themselves. In response, the Accounts and Budgeting Division has initiated an internal investigation to ascertain the full extent of the misuse.
A spokesperson for Bangladesh Bank, Arif Hossain Khan, stated:
“The withdrawals from the fund were approved by senior management for training purposes. However, the standard procedure for remitting funds abroad was not followed. The officials have reported that all arrangements were handled through third parties. Given the allegations, we will examine the matter thoroughly.”
Background of the Training Fund
The training fund was created under the SMEDP-2 refinancing project in 2017, with a corpus equivalent to nearly USD 24 million. Its primary goal was to provide low-interest loans to rural and urban small entrepreneurs while generating new employment opportunities. The original project concluded in 2024, and in 2025, a new fund of BDT 1,200 crore was established.
A brief summary of the fund’s utilisation is provided below:
| Category | Amount (BDT) | Usage / Investment |
|---|---|---|
| Government Treasury Bill Investment | 950 crore | Interest income generation |
| Interest Earned | 46.74 crore | 40 crore: government & bank; 2.74 crore: research; 4 crore: staff training |
To date, the four officials implicated in the alleged misappropriation have not provided direct statements, and all commentary has been issued by the bank’s spokesperson.
The incident has raised serious questions about transparency and fund management within Bangladesh Bank. All eyes are now on the outcomes of the ongoing internal inquiry, which could have far-reaching implications for institutional governance and accountability.