BB board meets for the first time under new governor

The Bangladesh Bank board yesterday met for the first time since Fazle Kabir took over as its governor three weeks ago.

The board was briefed about the $101 million reserve heist and the subsequent steps the BB has taken to recover the money.

The board warned the central bank officials against any recurrence of the incident and instructed them to take all possible measures to beef up its IT security, said Subhankar Saha, executive director and spokesman for the BB. The board is led by the governor as its chairman. 

A BB official said the forensic investigation team also informed the board about its findings.

The team, led by Rakesh Asthana, a former IT director of the World Bank, also said it will take this month to complete the investigation.

The BB will take its next course of actions on the basis of the recommendations of the forensic team as well as the probe report of the investigation committee led by former BB governor Mohammed Farashuddin.

On March 15, the government formed the three-member panel to investigate the heist from the BB account with the New York Federal Reserve Bank.

The panel will submit a preliminary report in 30 days and a full report in 75 days.