BB sends show-cause notice to 6 bank MDs

The managing directors of six banks have received a show-cause notice from the Bangladesh Bank (BB) due to acquisitions and extraordinary gains made from selling US dollars.

Dutch Bangla Bank, Southeast Bank, Prime Bank, City Bank, Brac Bank, and Standard Chartered Bank are among the six banks.

According to sources at the Bangladesh Bank, the central bank sent the show-cause letter to the bank MDs on Wednesday.

The Bangladesh Bank stated in a another letter the same day that any additional revenue from the sale of dollars could not be added to the bank's income.

They were instructed to address eleven concerns relating to dollar transactions, such as the extraordinary profit and wide difference in cost between purchasing and selling.

Also requested was a response within seven business days.