The Bangladesh Cricket Board (BCB) has moved Tk 2.38 billion worth of fixed deposits across 14 different banks. However, news of the transfer reached the media even before the BCB officially announced it. When initially questioned about the matter, influential BCB director Nazmul Abedin Fahim struggled to provide a clear answer.
Later, after intense discussion, BCB President Faruk Ahmed clarified the situation to the media. Following that, the BCB also released an official statement explaining the entire matter.
Now, Youth and Sports Advisor Asif Mahmud has spoken up about it. Responding to a question on Saturday (April 26), he said, “I have spoken with the BCB. FDRs (Fixed Deposit Receipts) are a source of income for them. They have moved the funds from risky banks to ones offering better interest rates. We will look into whether any irregularities occurred in the process. I advise any government institution to deposit funds only in reputable banks.”
Earlier, justifying the move, the BCB President said, “We shifted the money from red zone banks to green and yellow zone banks. We have Tk 120 million deposited with Standard Chartered Bank. In total, it’s about Tk 2.5 billion. From Standard Chartered, we have received sponsorships worth close to Tk 120 million and have also secured a commitment for an additional Tk 250 million toward infrastructure development.”
In an official statement released on Saturday, the BCB said, “After taking charge in August 2024, President Faruk Ahmed prioritized safeguarding the board’s financial interests in light of past financial irregularities and the economic crisis that followed the mass protests in July-August 2024.”
The statement further clarified, “It is important to note that the Board President does not make any decisions regarding bank changes or financial transactions unilaterally or without the knowledge of the Board of Directors. Two Board Directors — Mr. Fahim Sinha, Chairman of the Finance Committee, and Mr. Mahbubul Anam, Chairman of the Tender and Purchase Committee — are authorized signatories in financial dealings with partner banks. The BCB President is not a signatory in these matters.”
