Yasin Ali, a Supernumerary Prof of Bangladesh Institute of Bank Management (BIBM) has alleged that BRAC Bank is not sincere enough for providing security for deposits by its clients. As a result, this bank failed to recruit manpower for internal audit department, he observed.
Ali was speaking as a discussant at a seminar titled "Internal Control and Compliance of Banks 2016" on Thursday at BIBM, Mirpur, Dhaka. He said that Bangladesh Bank has instructed all commercial banks to ensure internal audit. But BRAC Bank does not have enough manpower in internal audit department which refers to lack of good governance in this bank, he added.
The seminar was presided over by BIBM Director General Toufiqur Rahman Chowdhury while Bangladesh Bank Deputy Governor Abu Hena Md. Razi Hasan was present as chief guest. Touhidul Islam and Mohabbat Hossain presented papers at the seminar on the topic.
Yasin Ali further pointed out that employees of commercial banks don't want to work for internal audit departments because they face professional hazards if they submit audit reports against higher officials.
But smart and competent people should be appointed for audit departments to protect the interest of the clients, he observed.
He also suggested that audit departments should be placed under a bank's chairman while compliance department should be supervised by chief executive officer. Audit departments should be divided into two sections to
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