Transparency International Bangladesh (TIB) has expressed deep concern over Farmers Bank's failure to refund Tk508 crore to Bangladesh Climate Change Trust Fund (BCCTF), along with deposits of various other clients.
TIB called upon the government to ensure transparency and accountability of all the stakeholders involved in managing the funds.
Urging to formulate and implement policies for investing in the climate fund, TIB Executive Director Dr Iftekharuzzaman said in a statement that the failure of Farmers Bank to return deposits after the expiry of the deadline was a matter of concern for the entire banking sector.
“If there is further delay in releasing the funds for climate change adaptation activities, it will increase the risk for the region which is not acceptable in any way,” he said.
He asked for quick intervention to recover the money, and return them to the depositors.
“There should be an investigation into why the climate fund money was invested in Farmers Bank for making profit, instead of entrusting well-reputed and credible financial institutions. People, including the former board of directors who were involved in the crisis, should be held accountable after proper investigation.
“Customers and organizations are losing their confidence in Farmers Bank every day as they are failing to get their deposits back. It is unacceptable to put the burden of corruption and irregularities of the bank on the customers.”
Thursday, March 27, 2025
