Banking sector on the brink : TIB
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Dhaka, Dec. 6 -- The Transparency International Bangladesh (TIB) has expressed its deep concern over the withdrawal of thousands of crores of taka in the name of loans against false addresses and non-existent companies from at least three private banks, including Islami Bank.
In a written statement issued the TIB on Monday said, "It has pushed the banking sector, which already plagued by skyrocketing bad loans, on the brink of default, anonymous loan and money laundering."
In order to prevent a deeper crisis, the TIB strongly urged the government to enact a law titled 'Beneficial Ownership Transparency' immediately.
At the same it is needed to join the 'Common Reporting Standard (CRS)' to monitor financial transactions in the privately...
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