Bangladesh Bank assessing US Senate report on HSBC Bank

BANGLADESH NEWS

Bangladesh Bank Governor Atiur Rahman on Wednesday said the central bank is examining the US Senate report that accused Islami Bank Bangladesh Ltd and Social Islami Bank Ltd of terrorist links.

The report held responsible British banking giant HSBC's internal governance failure to control flows of suspect funds which allegedly allowed the two banks in spotlight to finance terrorist links.

Contacted Bangladesh Bank Governor Atiur Rahman said, “Alleged terrorist link of Islami Bank Bangladesh Ltd and Social Islami Bank Ltd was reported back in 2007 and we have taken necessary measures already. However, we are now examining the recent report and if necessary, we will take further steps.”

Asked whether the country’s import-export would be affected if allegation against the two banks is proven to be true, the governor said, “If such a possibility surfaces while examining the report, we will go for necessary measures.”

One of these two banks was allegedly funding al-Qaeda, and Osama bin Laden's brother-in-law held shares in a company that has shares in the bank.