BB fund heist: PM rules out long-term impact on economy

Prime Minister Sheikh Hasina on Wednesday ruled out any long-term impact on the country's economy due to recent reserve hacking of the Bangladesh Bank.

 

"There won't be any long-term impact on the country's economy due to the heist of US$101 million from Bangladesh Bank account as the central bank has taken immediate and time-befitting steps after the hacking," she said. 

 

Sheikh Hasina expressed this view while replying to a starred question from treasury bench member AKM Jahangir Hossain, who raised it on behalf of Hazi Mohammad Selim in the House during the PM's question-answer session in the House, reports BSS.

 

The Leader of the House said though the country's economy counted a "reserve loss" for the time being due to the hacking, some portion of the stolen money of the central bank has been brought back by way of various measures.

 

"It is expected that the remaining money would be brought back through the legal process," she said.

 

After the reserve hacking, she said, big hacking has been stopped due to immediate and timely steps of the central bank. Besides, an adverse situation has been thwarted by bringing back some portion of the money with the help of the Philippines government, she said. 

 

The Prime Minister said the committee formed to probe the reserve heist has submitted an interim report, adding various steps are being taken as per the report. 

 

After the reserve heist, she said, the amount of net foreign resources has stood at Taka 1,981 billion at the end of March in comparison to the estimated target of Tk 1,866 billion that has been set prior to undertaking currency policy in June 2016.

 

"So there is no apprehension of impeding the currency policy due the reserve heist of the Bangladesh Bank," she said. 

 

Responding to a supplementary from the same lawmaker, the Premier said the government did not allow anybody to do "offshore banking". 

 

"We have given permission for establishing new banks and their branches...we have also allowed the non-resident Bangladeshis to set up three banks, but we did not allow anybody to do offshore banking," she said, adding though such banking system exists in many countries.