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Dhaka, April 26, 2025 – The Bangladesh Cricket Board (BCB) has issued a detailed statement addressing recent allegations of financial irregularities, particularly regarding the transfer of BDT 238 crore from its fixed deposits. The controversy, which has stirred significant discussion in cricket circles, centers on claims that BCB President Faruque Ahmed unilaterally moved funds without consulting the board of directors.
In a press release issued on Saturday, the BCB dismissed these allegations as "misinformed and deliberately aimed at tarnishing the reputation of the board and its president." The board clarified that the transfer of BDT 238 crore to 14 banks was part of a strategic financial restructuring to safeguard its assets amid economic challenges and past allegations of financial mismanagement.
According to the BCB, the decision was made following Faruque Ahmed’s assumption of the presidency in August 2024. Citing the economic instability following the public unrest in July-August 2024 and a review of banking relationships, the board prioritized financial security. It resolved to engage only with banks classified under the "Green" and "Yellow" zones by the Bangladesh Bank. As part of this initiative, BCB withdrew BDT 250 crore from high-risk banks, reallocating BDT 238 crore to safer institutions and transferring the remaining BDT 12 crore to operational accounts for miscellaneous expenses.
The BCB emphasized that no unilateral decisions were made by the president. Financial transactions, including bank transfers, are authorized by two board directors—Finance Committee Chairman Fahim Sinha and Tender and Purchase Committee Chairman Mahbubul Anam—while the president does not have signing authority.
The board also highlighted the benefits of its financial strategy. Since September 2024, BCB has entrusted 13 reliable banks with its fixed deposits, resulting in a 2-5% increase in profits compared to previous periods. Additionally, over the past six months, BCB secured approximately BDT 12 crore in sponsorships from three banking partners and received commitments of BDT 20 crore for infrastructure development, underscoring the strength of these financial partnerships.
Addressing concerns of orchestrated attempts to discredit the board, the BCB stated, “Certain vested groups, including those active within cricket administration, are working to damage the board’s reputation.” The board reaffirmed its commitment to maintaining the highest standards of financial governance and welcomed scrutiny from credible sources. It urged the media to refrain from publishing unverified reports that could harm the reputation of Bangladesh cricket and its stakeholders.
AI/MR
