Bangladesh Bank orders freezing bank accounts of individuals, organisations with ties to militants

The Bangladesh Bank has ordered the freezing of bank accounts of individuals and institutions right away if allegations of having ties to militants surface against them.

Chief Economics Correspondentbdnews24.com
Published : 10 August 2016, 07:12 PM
Updated : 10 August 2016, 07:12 PM

The central bank’s directive for all banks in the country came on Wednesday in the backdrop of the recent militant attacks.

Bangladesh Bank’s Financial Intelligence Unit General Manager Debaprasad Debnath told bdnews24.com that the decision was taken following two meetings with the CEOs of all the banks on Jul 19 and 20.

The central bank wrote to the CEOs of the banks on Jul 27 asking them to freeze the accounts of militants and terrorists who have been named in the news media.

However, the financial regulator has left the decision to choose the source of the information with the banks.

“But those who have been identified as terrorists or militants under the law will face the action,” the letter said.

The central bank had met with the CEOs of all banks after the Jul 1 terror attack at Dhaka’s Gulshan and the Jul 7 attack near Sholakia Eidgah ground in Kishoreganj.

The managing directors of the banks were asked in those meetings to stay alert to prevent transactions meant for terrorist activities through the banking channel.

Bangladesh Bank also called for verification of the real beneficiaries of remittances sent by the expatriate Bangladeshis.

The banks were also told to check whether all their branches were following the law and submit a report to the central bank by October.