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The Bangladesh Cricket Board (BCB) has strongly denied allegations of financial irregularities following media reports questioning its recent banking transactions.
In a statement issued on Saturday, the BCB described the recent reports as "misinformed" and "intentionally constructed" to tarnish the image of the Board and its President, Faruque Ahmed.
The BCB said that upon taking charge in August 2024, Faruque prioritised safeguarding the financial assets of the board.
Following a reassessment, the BCB withdrew Tk 2.50 billion from banks considered risky and reinvested Tk 2.38 billion into institutions categorised in the "Green" and "Yellow" zones by Bangladesh Bank.
The remaining Tk 120 million was kept for operational expenses.
The Board clarified that all banking decisions were made with full knowledge and approval of the board members, involving two designated signatories – the heads of the finance and tender & purchase committees – and not by the president alone.
The BCB also revealed that since September 2024, its financial restructuring led to a 2-5% increase in interest earnings from fixed deposits. At the same time, BCB secured nearly Tk 120 million in sponsorships from three banking partners, with another Tk 200 million pledged for infrastructure development.
This statement of BCB came amidst criticisms claiming that the president moved the fund from one bank to another without the knowledge of other board members.