Dhaka, 26 April 2024: Transparency International Bangladesh (TIB) has expressed grave concerns as media restrictions have been implemented by the Bangladesh Bank, known as the central financial regulatory authority and ultimate custodian of public money. TIB says this is an unprecedented barrier for public interest-based reporting on banking and financial sectors. The anti-corruption organization calls for an immediate withdrawal from the restrictions.
Media reports state that journalists had been facing entry restrictions at the Bangladesh Bank while trying to collect information on the banking and financial sector for months. Journalists had desperately sought the central bank governor’s assistance in resolving the matter but had no positive outcomes. TIB Executive Director (ED) Dr. Iftekharuzzaman condemns this as an immoral and arbitrary infringement on the public's lawful right to information.
"What is the Bangladesh Bank leadership seeking to accomplish by obstructing the free flow of information, particularly amidst the numerous challenges plaguing the banking sector, including default loans, financial fraud, embezzlement, and governance deficiencies? Is this a desperate attempt to deflect attention from the Central Bank's inability to ensure stability and promote good governance within the sector? Or is it merely another strategy to shield those accountable for the crises stemming from default loans and financial frauds?" asked the TIB ED.
Dr. Iftekharuzzaman underscored that the unrestricted access of journalists to the Bangladesh Bank facilitated the exposure of financial irregularities worth billions, benefiting the public interest in recent years. He added, “Should we assume that this disgraceful decision was taken by the central bank to protect the faction of defaulters, fraudsters, and money launderers responsible for the financial crisis and to hide that the policy and leadership of the Bangladesh Bank have been captured by that very faction?"
TIB is concerned that the emphasis on secrecy could exacerbate existing issues, particularly amidst a public confidence crisis within the banking sector and the confusion surrounding bank mergers purportedly aimed at safeguarding client interests. Expressing apprehension, TIB asserts that the Bangladesh Bank shows no indication of reinstating media access, as the governor has avoided addressing the issue directly and instead referenced bureaucratic procedures, including media sensitivity training on banking sector information. TIB's Executive Director characterizes this as an arbitrary decision rooted in a colonial mindset. “The proposal for implementing a pass-based entry system and providing training, instead of addressing the issue directly, constitutes an impenetrable barrier to journalists' professional duty of gathering information, particularly for investigative journalists. Consequently, officials at all levels of the Bangladesh Bank are likely to avoid engaging with reporters to avoid potential harassment through administrative actions. This means that information will be blocked and citizens would be alienated from the right to know what is happening in the banking sector and how certain factions are profiting by plundering public money,” mentioned Dr. Iftekharuzzaman.
Considering the overall situation, TIB hopes that the Bangladesh Bank leadership will immediately withdraw all forms of entry restrictions for journalists and facilitate the free flow of information.
Media Contact:
Mohammad Tauhidul Islam
Director, Outreach and Communication
Mobile: 01713107868
Email: tauhidul@ti-bangladesh.org
