The Bangladesh Cricket Board (BCB) on Saturday issued a statement clarifying recent financial transactions, asserting that the moves were aimed at strengthening the safety of the organisation’s funds and protecting it from ‘vested quarters’.
The clarification follows media reports alleging irregularities in financial dealings since Faruque Ahmed assumed the role of BCB President in August 2024.
In a press release, the BCB stated: “Upon assuming the role of BCB President in August 2024, Mr Faruque Ahmed identified the safeguarding of the Board’s financial interests as a top priority, particularly in light of allegations of financial irregularities in previous years and the challenging economic climate following the mass uprising of July–August 2024.”
The Board explained that in order to secure its funds, a strategic decision was made to withdraw Tk 250 crore from banks deemed risky by the Bangladesh Bank. Of that sum, Tk 238 crore was reinvested in banks categorised within the Green and Yellow Zones, while the remaining Tk 12 crore was allocated to a designated account to meet operational expenses.
The BCB added: “Considering the paramount importance attached to ensuring security, the BCB withdrew BDT 250 crore from banks considered risky and reinvested BDT 238 crore of it in Green and Yellow Zone banks. The remaining BDT 12 crore was transferred to a designated account to facilitate BCB’s operational expenses.”
The Board also noted that ‘disruptive elements and vested quarters’, both within and outside the cricketing establishment, were actively working to discredit its operations, which further necessitated the strengthening of financial safeguards.
Since September 2024, the BCB has spread its funds and fixed deposits across 13 banks, all assessed to be in stable financial standing. This move, the Board claimed, not only ensured greater security but also secured partnerships offering competitive interest rates, resulting in a 2–5 percent increase in earnings from fixed deposits compared to previous periods.
The BCB maintained that all financial decisions were taken with transparency and in the best interests of Bangladesh cricket.