Sports adviser Asif Mahmud Shojib Bhuyain has expressed cautious approval of the Bangladesh Cricket Board’s (BCB) recent decision to withdraw funds from risky banks, stating that the move is “good” in principle. However, he emphasized that the Ministry of Youth and Sports will carefully review whether all rules and procedures were properly followed in the process.
Speaking on Saturday, Asif explained, “I have spoken with the BCB. Fixed Deposit Receipts (FDR) are a source of income. Previously, the BCB’s FDR rates were lower; now, where the funds have been placed, the rate is around 11–12%. Therefore, the money has been moved away from risky banks.”
He added, “We will review whether any rules have been violated,” signaling that while the ministry broadly supports the BCB’s efforts to secure its finances, it remains vigilant about transparency and accountability.
This statement comes amid heightened scrutiny over the BCB’s recent financial transactions, which gained attention after Faruque Ahmed took over as board president in August 2024. The BCB clarified that approximately Tk250 crore was withdrawn from banks deemed risky by the Bangladesh Bank and mostly reinvested in banks categorized as safer—within the Green and Yellow Zones.
While the cricket board defended the move as a necessary step to protect assets, Asif’s comments reveal that the Sports Ministry is closely monitoring the situation to ensure compliance with all financial regulations, underscoring the importance of transparency in sports administration.
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