Metropolis Desk-
Concerning Tk 13,110.8 crore, or 22.85% of the lender’s liabilities, Janata Bank was found guilty of 31 charges of major financial irregularities from 2015 to 2020.
The audit, carried out by the Comptroller and Auditor General of Bangladesh, uncovered major flaws in the internal control system of the bank as well as flagrant violations of laws and regulations.
The lender’s credit risk management and loan sanctioning rules, the Bank Company Act of 1991, circulars from the Banking Regulation and Policy Department (BRPD) of the Bangladesh Bank, and non-compliance with loan sanctioning and collection terms, and these are only a few of the anomalies.
Additionally, the bank boosted huge loan amounts past the permitted maximum, made enormous loans without acceptable collateral, and waived interest by breaking the law.
The audit report highlights the necessity for authorities to concentrate on bolstering the internal control system of the branches that were audited and adhering to the relevant laws and regulations in the collection and use of public monies.
The bank has requested that the management of the bank take steps to prevent such anomalies from happening in the future and to follow its recommendations.
