The Centre for Policy Dialogue (CPD), the leading independent think-tank of the country, has revealed that more than BDT 920 billion was misappropriated from the banking sector in last fifteen years through various scams.

The finding came from the published media reports between 2008 and 2023 compiled by CPD, its Executive Director Dr Fahmida Khatun said in a press briefing on Saturday at the organization’s Dhanmondi office.

The total amount of money embezzled during the period through 24 major loan scams stands at staggering BDT 920.261 billion, reflecting lack of good governance and vulnerability of the financial sector, the briefing was informed.

If irregularities like write-offs, rescheduling and court stays are taken into account, the total of lost money might even be higher.

The loan defaults have seen arise of nearly three and half times since 2012 due to different irregularities, observed the CPD executive director.   

The government as well as the Bangladesh Bank is not doing enough to fix the problems of the banking sector, she lamented.