Hearing over reserve heist likely in New York

The minister, however, did not elaborate on this matter. Sources in the Finance Ministry could not immediately provide any details on the issue either. AMA Muhith was speaking at a National Mourning Day event held at the central bank headquarters in the city yesterday. The finance minister will be at New York from September 25 to October 11 to attend the annual World Bank and IMF meetings. Muhith also warned that nobody will be spared if found involved with corruption in the banking sector. Referring to the corruption in the state-owned banks Sonali Bank and BASIC Bank, Muhith said: “Although the financial situation of these two banks have worsened, the overall health of the banking sector is good.” He, however, suggested that Bangladesh Bank should reduce the number of its outside consultants. As asked about the progress in recovering the stolen reserve money, Muhith replied: “A Bangladesh Bank team was in the Philippines to co-coordinate the process of recovering a portion of the money.’’