|
|
Change Your Life! |
Action against Bank-like transactions without license |
|
News
|
|
|
September 7, 2000
Dhaka (UNB)- Bangladesh Bank is going to take action against institutions and individuals transacting in public money like banks and financial institutions without having banking licence. A central bank circular yesterday (Wednesday) said legal actions were being processed against those unauthorized persons or organisations that collect deposits from the people alluring them with unusually high rates of interest or other forms of benefits. The central bank's disclosure came amidst massive allegations of grabbing people's money by a section of people or organisations that give them false commitments of high interest or benefits to collect money. Press reports revealed some cases where depositors, who put their money with such persons or organisations being tempted with false hopes of benefit, lost their everything. Local journalists unearthed such a pseudo-bank in a southwestern district that embezzled millions of taka from local people, mostly small businessmen or farmers. Many other organisations are also doing the banking business in rural areas, where commercial banks are yet to reach, collecting small deposits from villagers and lending on higher interest. The central bank also advised the members of the public "not to deposit their money with such unlicensed persons or organisations". |