Bangladesh Bank Governor Atiur Rahman said monitoring has been enhanced on the board of directors of all financial institutions to ensure good corporate governance.
“Monitoring has been enhanced in the areas of responsibility and accountability of all board of directors to promote good governance,” he said while addressing the annual conference 2015 of the chief executives of banks’ and non-bank financial institutions.
He made the remark three days after disclosing financial irregularities of over Tk700 held in Bangladesh Industrial Finance Company Limited.
He accused the board members of BIFC for committing the irregularities.
The governor, in a meeting on December 20 warned the board and managing directors of FIs of highest legal action if they are found involved with any irregularities further.
“The central bank has started introducing strategic changes to its existing supervision techniques for ensuring financial stability,” the governor said yesterday at the conference.
He expected that existing and potential loopholes would effectively be addressed due to extensive digitisation initiatives.