Every corrupt will be brought to book

The Anti-Corruption Commission will bring to book every people who are involved in banking scams as part of the move to create a business-friendly environment in Bangladesh, its Chairman Iqbal Mahmood said yesterday.

"We have nothing to do with bank loans. But we want you [businesspeople] not to submit any false bank guarantee during taking loans," he said.

"Banks, be it private or state-owned, deal with public money. We will take action as soon as we receive complaints about any banking frauds."

Mahmood also assured that the ACC will not harass any businessmen who maintain minimum ethical standards.

He spoke while addressing a discussion on "Ensuring transparent and accountable public services for investment- and business-friendly environment in Bangladesh".

The ACC and the Bangladesh Investment Development Authority (BIDA) jointly organised the event at the commission's Segunbagicha headquarters.

According to Bangladesh Bank data, the total written-off loans between January 2003 and June 2017 stood at Tk 45,527 crore.

State-owned banks have written-off Tk 22,435 crore in loans and private banks Tk 21,674 crore as of June last year.

Two state-run specialised banks—Bangladesh Krishi Bank and Rajshahi Krishi Unnayan Bank—have written-off Tk 555 crore and foreign commercial banks Tk 863 crore.

At the discussion, Hasina Newaaz, a director of the Federation of Bangladesh Chambers of Commerce and Industry, said businesses have to give bribes to the government officials to ensure security for their export and import activities.

"Corruption begins from government offices. We operate [business] in an environment where we are forced to get involved in corruption," said Farooq Ahmed, secretary general of the Metropolitan Chamber of Commerce and Industry, Dhaka.

Ahmed said his chamber can work together with the ACC to curb corruption.

The ACC chairman said companies should do ethical business. "You have to follow the system. We will not accept any speed money to help you do any wrongdoing."

He asked businessmen to inform the ACC whenever any government official seeks bribe.

He also asked businesses to ensure that their members pay appropriate amount of tax and VAT on time.

Kazi M Aminul Islam, executive chairman of the BIDA; Syed Moazzam Hossain, president of the Bangladesh-Malaysia Chamber of Commerce and Industry, and Salim Akhter Khan, a director of the Dhaka Chamber of Commerce and Industry, also spoke.