BCB Clarifies Tk 250 Crore Withdrawal for Fund Security.

The Bangladesh Cricket Board (BCB) has clarified the withdrawal of Tk 250 crores from banks, as the media have indicated financial malpractice under the president Faruque Ahmed. The BCB reiterated that the withdrawal is to protect the funds from risks.

BCB stated in a press release that Faruque Ahmed made it a priority to preserve the financial interests of the board after he took office in August 2024 against a backdrop of numerous concerns regarding irregularities in previous months and economic instability caused by the mass uprising of July-August 2024.

In order to safeguard its assets, the BCB withdrew Tk 250 crore from banks that the Bangladesh Bank identified as risky. Out of this total, Tk 238 crore were re-invested in banks classified under the Green and Yellow Zones which are considered quite safe. The remaining Tk 12 crore were transferred to a designated fund to cover operational expenditures.

BCB cautioned against disruptive elements and vested interests, both internally in the cricket administration and outside that could harm the board’s reputation. Strengthening fund security was also viewed as a means of protecting against these issues.

The BCB assigned 13 banks to hold its funds and fixed deposits beginning September 2024. This was a pivotal moment not only for security of assets but it allowed the board to maximize returns which led to interest earnings improving by 2-5 percent over previous years.

The board insisted that all of these considerations were deliberate and transparent and they were geared toward realizing long-term continuity and public trust.