The Board of Trustees (BoT) of Bangladesh Islami University misappropriated Tk 6.13 crore as honorariums over 11 years, with the Chairman taking Tk 3.66 crore. Initially, the university’s founders invested Tk 1.56 crore and took a Tk 10 crore loan for land, spending only Tk 3 crore on it. Despite regulations requiring annual financial reports, only 57 private universities submitted them in 2022. Financial irregularities are common, with private universities often seen as profit ventures. In 2022, four North South University BoT members were arrested for embezzling Tk 303.82 crore. Another incident involved a Dhaka University professor arrested for a fraud case related to land for Northern University. The University Grants Commission (UGC) plans to investigate all private universities’ financial activities since their inception due to ongoing irregularities. In 2022, the UGC requested financial documents from over 26 universities but received limited responses. The UGC aims to take action against financial misconduct and ensure private universities operate as non-profit institutions.
BIZDATAINSIGHTS
Bizdata Insights is a Market Insights, Data Intelligence and Business Advisory Platform
Our Solutions
Menu
Newsletter
Sign up for our newsletter now by entering your e-mail address and never miss out on the latest news and updates from our team!