Bangladesh central financial institution hires auditors for banks it says misplaced $17 billion, FT studies

(Reuters) -Bangladesh’s central financial institution has employed three “Large 4” accounting corporations – EY, Deloitte and KPMG – to audit banks it says misplaced $17 billion to enterprise individuals near the regime of former chief Sheikh Hasina, the Monetary Occasions reported on Sunday, citing financial institution governor Ahsan Mansur.

In an interview with the newspaper, Mansur mentioned the Bangladesh Monetary Intelligence Unit had additionally fashioned 11 joint investigation groups to trace down and reclaim property it believes had been purchased with the funds siphoned out of the banks and to assist prosecute these accountable.

EY and Deloitte didn’t reply to requests for remark exterior common enterprise hours. Efforts to contact KPMG for a remark by means of their web site weren’t profitable.

Mansur, who was appointed central financial institution governor by interim nationwide chief Muhammad Yunus after Sheikh Hasina fled to India in August, mentioned to the FT the investigations would have a look at 10 main Bangladeshi companies in addition to the ousted former chief and her kinfolk.

Mansur, a former economist on the Worldwide Financial Fund, has been tasked with serving to to stabilise Bangladesh’s financial system. He’s additionally starting the method of recovering what he estimates is a minimum of 2 trillion taka ($16.46 billion) taken from the banks throughout the 15 years when Hasina and her Awami League celebration had been in energy, the FT mentioned.

($1 = 121.5000 taka)