Treasury heads of several banks in Bangladesh, previously fined by the central bank for trading dollars above official rates, have appealed to the central bank for a penalty waiver. The treasury heads of ten banks were individually fined Tk1 lakh each for their actions. These banks include Social Islami bank, Al-arafah Islami bank, Mercantile bank, and others.
The central bank accused them of buying dollars at high prices. The banks have argued in their appeals that the treasury heads did not personally benefit from these transactions, and therefore the fines should be waived. This situation has raised concerns among these treasury heads regarding their employment records and future career prospects, as they fear the fines might hinder their chances of becoming managing directors of any bank in the future. The central bank will decide on the appeals at its next meeting.
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