BCB Refutes Media Reports on Financial Dealings, Emphasizes Transparency and Strategic Banking Decisions

The Bangladesh Cricket Board (BCB) has noted with concern certain reports in sections of the national media concerning the Board's financial transactions. The BCB is of the view that these reports are misinformed, inaccurate, and appear to be intentionally constructed to tarnish the image of the Board and its President, Faruque Ahmed.

The BCB reiterates its commitment to transparency and accountability in all financial dealings. In light of the recent claims, the Board wishes to provide the following clarifications for the benefit of the general public and members of the media who are committed to objective journalism:

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, especially in the context of allegations of financial irregularities in previous years and the difficult economic period the country was experiencing in the months following the mass uprising of July–August 2024.

As part of this initiative, the BCB undertook a reassessment of its banking relationships and made a strategic decision to engage only with financial institutions categorised by Bangladesh Bank under the Green and Yellow Zones. 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.

It should be noted that the BCB President does not take unilateral decisions without the knowledge of the BCB Board in regards to changing Banking partners or financial transactions with Banks. The Board has two signatories authorising banking transactions – BCB Finance Committee Chairman Mr Fahim Sinha and BCB Tender & Purchase Committee Chairman Mr Mahbubul Anam. The Board President is not a signatory on these matters.

The BCB is also aware that disruptive elements and a vested quarter, both outside and within the cricket administration, remain active with the sole intention of maligning the Board and undermining its efforts. This was another pertinent reason to strengthen the security and safety of BCB's funds and operations.

Since September 2024, the BCB has entrusted 13 such banks with the responsibility of holding its funds and fixed deposits. This move not only ensured the security of the Board's finances but also allowed the BCB to leverage partnerships that offered the most competitive interest rates. As a result of this strategy, the BCB has realised an increase of 2–5 percent in interest earnings from its fixed deposits compared to previous periods.

Furthermore, in the past six months alone, the BCB has received approximately BDT 12 crore in sponsorship support from three of its current banking partners. In addition, around BDT 20 crore of sponsor investment by BCB's partner banks has been pledged for infrastructure development, further underlining the strength and depth of these financial relationships.

The BCB remains dedicated to upholding the highest standards of financial governance and welcomes scrutiny from legitimate and factual sources. The Board also requests media outlets to refrain from publishing unsubstantiated reports that may undermine the integrity of Bangladesh cricket and the individuals who serve it.